We know it has been a long time since an update but as you all know we have been quietly working and plotting our next move in the background. Today we are pleased to unveil exactly that — an expansion to the volts.finance ecosystem and what you have all eagerly been awaiting — OHMS.
A New Paradigm 🚀
OHMS will be a fixed supply farmable ERC20 token that incorporates some of the most innovative recent additions to DEFI. Our token itself will be a fork of RFI, however more than just being any other fork, we are immediately placing OHMS in the environment exactly for which the tech was conceived— yield farming.
To put it simply, the beauty of RFI and now OHMS is its ability to generate double yield. We introduce a transaction fee on every transfer that is immediately distributed to holders — the first pillar of yield generation. More important, however, is the second pillar. Namely that OHMS allow tokens staked in a smart contract to themselves earn fees. In effect it allows for multiplicative (double) yield generation, earning yield not only on the tokens a user would initially stake but also earn the transfer fee they would have earned if they had just held them in their wallet. This revolutionary concept allows for yields significantly higher than ever possible prior. As a wise man once said, “Compound interest is the 8th wonder of the world,” and as luck would have it, that is exactly what OHMS offers.
As mentioned, the beauty of RFI (reflect.finance) is that it permits double yield generation, however, as a standalone token it does not permit users to take advantage of this mechanism, instead it behaves solely as wealth redistribution token. With OHMS we give you not only the mechanism itself but also a farming platform in which to to take advantage of it. Proverbially speaking, we are giving you both the palace and the keys to the palace, so it goes without saying that we can’t wait for you guys to get your hands on it!
Greater Incentives for Stakeholders 🗄️
Although a good starting point, we are of the opinion that 1% (the default RFI transfer fee) does not incentivize holders adequately. Those of you who have been hanging around for a while now know we like to reward long term stakeholders here at volts.finance, hence we are turning it up a notch and increasing the fee to 3%. This will vastly increase the long-term dividends earned by those who buy into the vision, which compounded with our double yield mechanism makes plentiful pickings for the keen farmers among you.
Fixed Supply Farming 🚜
OHMS will be a fixed supply token; 2500 OHMS will be minted at launch and no more will ever be created. Farming rewards will come from pre-allocated reserves, meaning that you can ensure that your long-term value and non-dilution of you tokens. 180 of the token supply will be sent to the burn address after deployment. These tokens will earn transfer fees to the burn address, acting as a black hole, locking away OHMS in the void permanently, which allows the token to be pseudo-deflationary, further increasing the value of your OHMS in the long run.
As always, we like to keep it inhouse so much like with VOLTS we are only allowing native pairs from our own ecosystem. In other words, in order to earn OHMS you will require either OHMS or VOLTS. As a result, unlike most farming projects, whales will not be able to come in and take up a huge proportion of your rewards without themselves first contributing to the ecosystem.
The pools offered will be:
OHMS — ETH (50%)
VOLTS — ETH (30%)
And yes, you asked for it, so we have added it! Single asset staking is now supported! You will now be able to earn OHMS by staking VOLTS/OHMS alone, in addition, to providing Uniswap liquidity for one of the above pools. As OHMS is a fixed supply token each of the above pools will have a fixed reserve of OHMS rewards that they will distribute as indicated above. We will to distribute approximately 400, 300, 200 and 100 OHMS across all pools in their relative proportions, as indicated above, in weeks 1, 2, 3 and 4 after launch respectively. After this period of initial liquidity mining all OHMS held will continue to earn fees from transfers and OHMS will transition into a staple currency for the volts.finance ecosystem. This is where the fun really begins :)
Now we have got you excited here are the details on token allocation and presale:
Token distribution ⚖️
- Total supply: 2500 OHMS
- Presale: 400 OHMS
- Uniswap initial liquidity: 320 OHMS
- Burn address: 180 OHMS
- Rewards: 1000 OHMS
- Additional pool reserve*: 400 OHMS (Locked, vested over 4 weeks with 100 unlocking per week after launch)
- Marketing: 100 OHMS
- Team: 100 OHMS (locked for 1 month)
*will be used for adding an additional pair or extending the reward timeframe.
Presale details 👨⚖
- Price: 4 OHMS: 1 ETH (same as listing price)
- Soft-cap: 20 ETH
- Hard-cap: 100 ETH
- Per person cap: 1 ETH = Min/Max
As outlined 80% of the ETH raised will be matched with 320 OHMS to provide initial liquidity on Uniswap and the remaining 20% will be allocated as a developer fund. We will be holding the presale soon so make sure you head to our telegram to stay up to date.
Finally, we would like to thank you all for sticking through what has truly been a wild journey from start to finish. We learned a lot with both CHARGED and VOLTS and are excited to take on this new chapter alongside you all! Make sure your there, it’s OHMS season!