OORT Foundation Milestone Update and Future Efforts, First Buyback and Burn will exceed 1 million OORT tokens

The journey of the OORT Foundation since its inception has been nothing short of exciting. At every step, our goal has been to not only innovate, but to revolutionize the way we interact with the blockchain ecosystem. Our recent developments and future plans are a testament to this ongoing commitment.

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Token Listing
We kicked off with a bang, marking our debut on major exchanges Bitget and Gate.io, signaling not only a successful launch but also a strong vote of confidence from the community. This pivotal moment is just the beginning of our expansive vision for the OORT ecosystem.

Community Growth | Global Footprint, Local Impact
"We have achieved impressive growth in our user base, particularly in the EU, reflecting our global appeal and the universal value proposition of our platform. This geographical diversification clearly demonstrates the relevance of our platform and the growing global interest in blockchain solutions."

Ecosystem | Strengthening partnerships in the Web3 space
The launch of our mainnet has spurred a surge in partnerships, particularly in the web3 space. These collaborations are more than just numbers, they represent deeper integration and mutual enhancement of our ecosystem, paving the way for a more connected and decentralized web.

Coming soon | Edge devices moving to mainnet
Our edge devices will seamlessly transition to the Olympus Protocol mainnet on February 19, 2024. This move is critical to enhancing the functionality and user experience of our ecosystem, providing a stronger and more secure foundation for our users and their transactions.

For our dedicated edge node miners, we are launching a renewal plan that is not only a continuation, but an improvement. We are implementing a deflationary mechanism, including a quarterly buyback of up to 30% of OORT tokens from licensing fees and product revenues, to ensure a sustainable and value-driven ecosystem. This move underscores our commitment to transparency and contributor value.

Coming Soon | OORT Gains: Milestones of Utility and Growth
The launch of OORT Earn is a milestone event with a planned burn of over 1 million OORT tokens (~2% of circulating supply), which you can track at address 0x00000000000000000000000000000000000000000000. This not only demonstrates the utility of our token, but also our dedication to community and ecosystem growth. OORT Earn represents a big step towards our goal of creating tangible value and utility for our users.

Token Economics Utility Deep Dive

1.OORT earning
OORT Earn is an exciting opportunity for OORT token holders to earn rewards simply by staking tokens. Here is a detailed explanation of what it means to you:

Stake and Earn: Lock up your OORT tokens to earn an Annual Percentage Yield (APY). It’s like earning interest on your crypto savings.

Bonus Airdrops: In addition to earning interest, you can also stake your tokens to qualify for special airdrops from OORT ecosystem partners. This means even more rewards for participating!
Big Burn: To celebrate the launch of OORT Earn, over 1 million OORT tokens will be burned, making the remaining tokens more valuable.

How to Earn OORT
The staking pool is always open, which means you can join at any time.
If you choose a fixed annual rate plan but decide to withdraw your funds early, your earnings will be adjusted to the daily rate. For example, if you choose a 12-month plan but withdraw your funds in the 11th month, your earnings will be adjusted to the daily rate for those 11 months.

Daily rate calculation.
Missed a withdrawal after your plan ended? Don’t worry. Your shares will continue to earn at the daily rate.
Earnings calculation: Interest is calculated daily. So if you deposit today, you'll see your earnings accrue starting tomorrow. Withdraw at any time and you'll receive your earnings up to that point.

Special Cases
If you choose a fixed rate plan, your income will be locked in according to that plan’s interest rate unless you withdraw early, in which case the daily rate will apply.
Airdrops follow the T+7 rule, which means that airdrop eligibility is determined one week after you register or stake tokens.
Essentially, OORT Earn is designed to reward you for participating and provide flexible options to fit your strategy. Happy staking!

2. OORT pledge storage
A groundbreaking initiative from the OORT Foundation is revolutionizing the way we think about digital storage in the blockchain era. By combining the utility of cryptocurrency with real, everyday needs, OORT is introducing an early access program for its cutting-edge storage product. More details will be shared soon!

But the vision is not limited to individual users. Recognizing the changing needs of businesses in the digital age, the Foundation is also extending this opportunity to institutional partners, providing them with the ability to stake storage. This not only democratizes access to secure and decentralized storage, but also emphasizes the intrinsic value of OORT tokens in real-world applications.

As we navigate the complexities of digital transformation, initiatives like OORT Stake for Storage represent beacons of innovation, delivering tangible solutions while fostering a more connected and decentralized web. This is about more than just storing data; it’s about laying the foundation for a future where blockchain technology enhances every aspect of our digital lives.

3. Strengthen institutional involvement
The OORT Foundation is enhancing its blockchain ecosystem for institutional clients by introducing a novel on-chain representation method. This provides better utility and transparency for OORT storage products. This move not only enhances trust in OORT blockchain solutions, but also demonstrates a commitment to leveraging blockchain technology for real-world applications. In the near future, you will be able to see the total number of OORT tokens locked by the Foundation to represent institutional data storage on the OORT Earn platform.

A Deep Dive into Token Deflation
The OORT Foundation is taking decisive steps to increase the value and sustainability of its ecosystem through a comprehensive strategy that includes token buybacks, burns, and efficient gas fee management.

Commitment to Value: Buyback and Burn
As a major move to bolster market confidence and token value, the Foundation will purchase OORT tokens of up to 30% of revenue from the previous quarter in accordance with its carefully designed token economics. To further reinforce this commitment, an ambitious burn of over 1,000,000 OORT tokens is planned for Wednesday, February 7, 2024. This move not only celebrates the launch of OORT Earn, but also strategically reduces the circulating supply, directly benefiting the long-term value of the token.

Optimizing the network: Gas fee innovation
The Foundation also actively manages gas fees, a key aspect of maintaining an efficient and user-friendly blockchain ecosystem. Recent initiatives have seen a significant increase in network transaction volume and established a strong deflationary mechanism to burn these fees, further reducing the circulating supply of tokens.

The launch of community-driven projects and platforms dynamically tests the network’s scalability and fee structure, leading to innovative adjustments that ensure sustainable growth and user engagement.

Expectations
These measures reflect the OORT Foundation's commitment to creating a resilient, valuable, and user-centric blockchain ecosystem. By focusing on strategic buybacks, token destruction, and efficient gas fee management, OORT is paving the way for a more sustainable and prosperous digital future.

Product Roadmap
We will be launching OORT AI 2.0, featuring the new “Data-to-Earn” platform. When the product goes live in Q2, we will also provide OORT holders with exclusive early access through the same mechanism.

The final product we will be launching in the near future will be our much anticipated OORT Compute product line. Our goal is to set the global standard for decentralized computing and resource allocation.

Ecosystem Construction
These measures reflect the OORT Foundation's commitment to creating a resilient, valuable, and user-centric blockchain ecosystem. By focusing on strategic buybacks, token destruction, and efficient gas fee management, OORT is paving the way for a more sustainable and prosperous digital future.

To summarize our updated ecosystem map, we are focused on partnerships and growth in areas that add the most utility and create value for our token. If you look at other layer 1 solutions, we are starting to see the same types of tools developed in the OORT ecosystem, primarily by community built projects. We believe we can attract projects to build and cross pollinate our community while having relatively simple technical integrations with other EVM compatible chains.

On a final note, we just want to thank the OORT community and their help in making this happen for us. Thank you for your patience as we develop new features for the mainnet. Our goal is to be a fully regulated and compliant organization, so we always maintain the highest standards of integrity for any product or service we release.

The biggest driver of our growth plans comes from our community and ecosystem. Last week we saw the launch of Script.meme, the first inscription protocol on OORT; OORTSWAP is the first DEX on OORT, which also has a bridge from BNB USDT to OORT USDT, which represents access to over $96 billion in potential liquidity; Sedna is the first launchpad on OORT. All of these projects are community built.

As always, we encourage the community to participate in OORT and provide us with constructive feedback on how we can build a stronger, more efficient, and more productive ecosystem.

Disclaimer: Nothing in this article should be considered as soliciting financial advice in any way, shape or form.

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