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February 5, 2024

The journey of the OORT Foundation since its inception has been nothing short of exhilarating. With each step, we aim not just to 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.

Recent Updates

Token Listing

We kicked off with a bang, marking our presence on major exchanges, Bitget and Gate.io, signaling not just a successful launch but 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

Our user base has seen impressive growth, especially in the EU, reflecting our global appeal and the universal value proposition of our platform. This geographic diversification is a clear indicator of our platform’s relevance and the increasing global interest in blockchain solutions.

Ecosystem | Strengthening Partnerships in the Web3 Space

The launch of our mainnet has catalyzed a surge in partnerships, particularly within the web3 arena. These collaborations are not just numbers but represent a deeper integration and mutual enhancement of our ecosystems, paving the way for a more interconnected and decentralized web.

Upcoming | Edge Devices Transit to Mainnet

Our edge devices are set to transition seamlessly to the Olympus Protocol Mainnet by February 19, 2024. This move is crucial for enhancing our ecosystem’s functionality and user experience, providing a stronger, more secure foundation for our users and their transactions.

For our dedicated edge node miners, we’re rolling out a renewal program that’s not just about continuation but improvement. We’re implementing deflationary mechanisms, including buybacks of OORT tokens up to 30% licensing fees and product revenues on a quarterly basis, to ensure a sustainable and value-driven ecosystem. This initiative underscores our commitment to transparency and value for our contributors.

Upcoming | OORT Earn: A Milestone of Utility and Growth

The introduction of OORT Earn is a landmark event, celebrated by the scheduled burn of over 1 million OORT tokens (~2% of circulating supply) that you will be able to track at this address 0x0000000000000000000000000000000000000000. This not only showcases our token’s utility but also our dedication to community and ecosystem growth. OORT Earn represents a significant stride towards our goal of creating tangible value and utility for our users.

Tokenomics Utility Deep Dive

1. OORT Earn

OORT Earn is an exciting opportunity for OORT token holders to earn rewards simply by staking their tokens. Here’s a breakdown of what it means for you:

How OORT Earn Works

Special Cases

In essence, OORT Earn is designed to reward you for your participation, with flexible options to suit your strategy. Happy staking!

2. Storage with OORT Staking

In a groundbreaking move, the OORT Foundation is revolutionizing the way we think about digital storage in the blockchain era. By intertwining the utility of cryptocurrency with practical, everyday needs, OORT is introducing an early access scheme to their cutting-edge storage product. More details will be shared soon!

But the vision doesn’t stop at individual users. Recognizing the evolving needs of businesses in the digital age, the Foundation extends this opportunity to institutional partners as well, offering them the ability to stake for storage. This not only democratizes access to secure and decentralized storage but also underscores the intrinsic value of the OORT token in real-world applications.

As we navigate through the complexities of digital transformation, initiatives like OORT Staking for Storage represent a beacon of innovation, offering tangible solutions while fostering a more interconnected and decentralized web. This is not just about storing data; it’s about building the foundation for a future where blockchain technology enhances every facet of our digital lives.

3. Enhancing Institutional Engagement

The OORT Foundation is enhancing its blockchain ecosystem for institutional clients by introducing a novel approach to on-chain representation. Thereby providing better utility and transparency for OORT Storage products. This move not only strengthens the trust in OORT’s blockchain solutions but also showcases the commitment to leveraging blockchain technology for real-world applications. You’ll be able to see the total number of OORT tokens locked by the foundation to represent institutional data storage on the OORT Earn platform in the near future.

Token Deflation Deep Dive

The OORT Foundation is taking decisive steps to enhance its ecosystem’s value and sustainability through a comprehensive strategy encompassing token buybacks, burns, and efficient gas fee management.

Commitment to Value: Buybacks and Burns

In a significant move to bolster market confidence and token value, the Foundation is set to purchase up to 30% of revenues from the last quarter in OORT Tokens, adhering to its carefully crafted tokenomics. Further amplifying this commitment, an ambitious burn of over 1,000,000 OORT Tokens is scheduled for Wednesday on Feb 7, 2024. This action not only celebrates the launch of OORT Earn but also strategically reduces the circulating supply, directly benefiting the token’s long-term value.

Optimizing the Network: Gas Fee Innovations

The Foundation is also proactively managing gas fees, a critical aspect of maintaining an efficient and user-friendly blockchain ecosystem. Recent initiatives have seen a significant increase in network transactions, with a robust deflationary mechanism in place to burn these fees, further decreasing the token’s circulating supply.

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

Looking Forward

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

Product Roadmap

We’ll be launching OORT AI 2.0, featuring the new “Data-to-Earn” platform. We’ll also be offering OORT holders exclusive early access to this product when it goes live in Q2 through the same mechanism.

The final product we’ll be launching in the near future will be our highly anticipated OORT Compute product line. We aim to set the global standard for decentralized computing and resource allocation.

Ecosystem Buildout

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

In summary of our updated ecosystem map, we’re focusing on partnerships and growth in areas that add the most utility to our token and create value. If you look at other layer 1 solutions, we’re starting to see the same kinds of tooling develop within the OORT ecosystem, largely by community-built projects. To where we believe we can attract projects to build and cross-pollinate our communities together with relatively easy technical integration with other EVM compatible chains.

On a final note, we just wanted to acknowledge the OORT community and how helpful they’ve been in getting us here. We appreciate your patience while we’ve been ironing out the new features for our mainnet. We are aiming to be a completely regulated and compliant organization, therefore we always maintain the highest standards of integrity for any product or services we release.

The greatest propellant for our growth plan comes from our community and ecosystem. Last week we saw the launch of Script.meme the first inscriptions protocol on OORT; OORTSWAP the first DEX on OORT, which also has a bridge from BNB USDT to OORT USDT, which represents access to the over 96 Billion dollars in potential liquidity; and Sedna the first launchpad on OORT. All of these projects were community built.

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

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

DYOD, DYOR, don’t trust verify.

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