Original | Odaily Planet Daily ( @OdailyChina )
Author | Husband How ( @vincent 31515173 )
As the crypto market continues to heat up, the wave of airdrop token issuance has resurfaced. More and more projects are choosing to attract user participation through token issuance at this stage. Projects that have been dormant for years are also taking the opportunity to launch tokens, with Odos being one of them.
The Odos project announced today that the airdrop query function is now open, and airdrop claims will officially begin on December 20. At the same time, the project party will launch the loyalty program, hoping to incentivize community participation. For the community that has long followed the Odos project, with the release of the token, they have finally welcomed the long-awaited moment. However, some community members have expressed dissatisfaction with Odos's past behavior, referring to it as a 'slave' project.
To this end, Odaily Planet Daily will provide a detailed introduction to the token economics and airdrop standards of ODOS, review the past behavior of the project, and explore why some community members refer to it as a 'slave' project.
Basic Overview of Odos and Token Economics
Odos is a decentralized smart order routing protocol aimed at optimizing users' trading experience. By aggregating multiple decentralized exchanges (DEX) and liquidity pools, Odos provides users with the best trading path using an automated market maker (AMM) pathfinding algorithm, ensuring that trades can be executed at the lowest fees and the best prices. Odos was created by the Semiotic Labs team, which focuses on the intersection of artificial intelligence, cryptography, and blockchain. The team is also a core developer of The Graph protocol.
According to official news, since its launch, Odos's monthly trading volume has exceeded $6 billion, and approximately 3 million independent wallets are in use. Currently, Odos is attracting user participation by establishing Odos DAO to issue the ODOS token and launching a loyalty program, as well as distributing retroactive rewards to previous users.
ODOS Token Economics and Loyalty Incentive Program
The ODOS token is the native token of the Odos protocol, used not only for community governance but also as a core reward tool for the loyalty program. Users can earn ODOS tokens as rewards by interacting with the Odos protocol. The token is based on the ERC-20 standard and operates on the Base chain.
The total supply of the ODOS token is 25 trillion, with the following distribution:
Loyalty Program: 25%, The Odos loyalty program and incentives: vesting over 60 months to support the expansion of the loyalty program.
Retroactive Rewards: 10%, fully unlocked at TGE.
Treasury: 15%, 60 million ODOS will be unlocked at TGE, to be allocated from the Odos DAO treasury as the initial administrative budget of Odos DAO, with special representatives expending it in the following directions: personnel costs; ecosystem expansion; general administrative expenses. The remaining treasury will be unlocked evenly over 36 months.
Investors: 20.4%, half will unlock after a 12-month cliff following TGE (Token Generation Event), then 1/24 will unlock monthly, with all tokens unlocking 24 months after TGE.
Current and Future Teams: 20.6%, of which Semiotic Labs will unlock 1/4 after a 12-month cliff following TGE, then 1/48 monthly, with all tokens unlocking 48 months after TGE. Core contributors: will unlock 1/3 after a 12-month cliff following TGE, then 1/36 monthly, with all tokens unlocking 36 months after TGE. New employees will vest through a token incentive program.
Reserve: 9%.
Odos's loyalty program aims to reward active users who interact with the Odos protocol through its DApp. Every interaction on the user platform is automatically recorded to determine whether they meet the reward eligibility and their membership level. This program provides corresponding rebates and rewards for varying levels of active users through a multi-tiered incentive structure. The trading fees generated by users will eventually convert to rebates in ODOS tokens. Initially, users do not need to hold any ODOS tokens to enter the initial membership level.
Retroactive Reward (Airdrop) Standards
Odos DAO introduced a retroactive reward mechanism, allowing eligible users to directly enter specific levels of the loyalty program to receive higher-level rewards and benefits. The distribution of retroactive rewards is based on user activity from March 11, 2022, to August 28, 2024. Only users who completed qualifying trades during this period can receive retroactive rewards. Specific criteria include:
Complete at least $100 in qualified trading volume
Trade for at least three days
Cumulative trading volume and trading frequency
Currently, a total of 494,278 addresses are eligible for retroactive rewards and immediate loyalty program level upgrades.
Why does the community refer to Odos as a slave project?
After Odos announced the upcoming token issuance, many people on social media directly called ODOS a slave project, claiming it to be the first project to associate yield farmers with slaves.
Odaily Planet Daily reviewed the previous Odos OAT collection task launched on the Galxe platform in 2022. The event spanned multiple public chains (Ethereum, Polygon, and Arbitrum), where users could collect OAT by completing specific tasks. The tasks for early supporters of OAT were relatively simple; users only needed to follow and retweet the official Twitter account to receive OAT, with a total of 40,000 tokens.
At the same time, Odos also designed public chain testing tasks, where users can collect corresponding OATs to earn rewards by exchanging tokens across different public chains. For example, completing 32 OATs in the Ethereum task can earn an additional NFT airdrop, while completing all tasks on Polygon and Arbitrum can earn a Gold NFT.
Due to the large redemption amounts in related tasks on Ethereum at the time, slippage and fees were high, many users complained that the task costs were too high, operations were complicated, and it took a long time to complete, describing these tasks as 'tedious like being a slave.' Interestingly, some people on social media thanked Odos, saying that without these cumbersome tasks, they might not have received the 'big yield' from Arbitrum.
In any case, there is still a week until the airdrop claim, and it remains to be seen how much benefit it will bring to users. Odaily Planet Daily will follow up with reports.