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June 18, 2024

We are thrilled to announce that the OORT Foundation has started its Q3 token buyback, funded by up to 30% of our Q2 revenue, amounting to no less than $600,000 USD.

Our strategy involves repurchasing tokens on the open market and sending them to a blackhole address, removing them from circulation. This approach supports long-term growth and benefits our token holders, reinforcing our commitment to enhancing the value and sustainability of the OORT token ecosystem.

Revenue Streams of OORT

OORT generates revenue through three primary streams:

  1. License Fee: Users are required to pay an annual license fee to activate Deimos devices and start mining $OORT. This fee is essential for maintaining and upgrading our infrastructure, ensuring a seamless mining experience.
  2. Protocol Revenue: Similar to other blockchain platforms, OORT generates revenue through its layer-1 protocol activities. This includes all blockchain-based services (such as being a DEX liquidity provider) that contribute to the Olympus Protocol's overall health and security.
  3. Product Revenue: Currently, we generate revenue from OORT Storage and OORT AI. We anticipate additional revenue from OORT DataHub once the testing phase concludes in August.

Q1 and Q2 Buyback Highlights

Our quarterly token buyback and burn strategy shows our dedication to creating a sustainable and valuable environment for all our stakeholders

Q1 2024 Buyback

Q2 2024 Buyback

Since our token listing, the OORT Foundation has burned a total of 3.25M $OORT tokens. This represents approximately 0.16% of the 2 billion total token supply and about 2.5% of the current circulating supply.

Upcoming DEX Listing

A sneak announcement: $OORT will be officially listed on one of the most popular decentralized exchanges (DEX) in July. This listing marks a significant milestone in our journey to increase the accessibility and utility of $OORT tokens.

Community Transparency and Licensing Fee Update

Based on community feedback, the $60 annual Deimos licensing fee will soon be payable with $OORT tokens once they're listed on the DEX in July. The tokens will be sent to a burner address, ensuring transparency as $OORT tokens are removed from circulation.

We look forward to sharing more updates and continuing our mission to build a robust and sustainable OORT ecosystem. Thank you for your continued support.

Stay tuned for more exciting news and developments from the OORT Foundation!

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