OMI Unlimited Community Q&A

that have participated in the first three and a half days. We have over 17.2 billion OMIS states, which is like six and a half percent of the circulating supply. We have over 1,000 VV accounts that have signed in. So there's people that have checked it out that haven't quite state yet. They would be waiting on things to see how stuff plays out, but obviously the interest is there. And people have earned over 13.7 million season XP, which is really incredible to see that amount of participation when we were kind of modeling this out. It just way beyond our wildest expectations. So very grateful for sure. Wow. And we're going to do like a master class type situation, right? We want to make sure we cover every single thing. And I know you've been, well, you're always around, but lately you can really be out here kind of looking at the timeline and getting to hear from everybody. So guys, I don't think anyone needs to fret everything. We will get kind of covered here. And also, hopefully, people aren't so shy. And if you have extra questions, instead of feeling like, I'm not sure if I want to ask that, it might be a dumb thing. I really don't want anyone to feel that way. We want to make it like very, very kind of surface level to make sure every single person with any kind of question, except when Pokemon. That's still the only thing we can't do. Other than that, we want to make sure everyone really understands. And I know in crypto, because I'm always a student. I think everyone, well, you should be. But it can always feel like, especially when you come from the VV side of things, it's just like, oh, I'm not sure where I can even ask this question. Or if I should ask it, if all people are going to laugh, I really don't want anyone to feel that way. I really want everyone to feel that anything they have to ask here is valid. Even my question, because I might have some crazy ones. Also has no idea. Am I surprising? Right, Foster? I guess this is the danger of inviting you. But we roll the dice and we let it roll. But yeah, no, it's going to be a great space. Like you said, I think the idea is really just to give a very high level overview of what this program is. And answer some people's burning questions about things that they wanted to know that are maybe keeping them on the fans or preventing them from getting involved further. And so yeah, I'm really looking forward to it. OK, perfect. Because it's Sunday and this is in Web 3, we call this touch grass. It's a touch grass day where you must go out and do something. Unless you're in Europe, hopefully you did touch some grass already. It's evening. We are going to make sure we get to it right now. And hopefully in about an hour, we can cover everything. I think that would be more than enough time. And then Foster can go do his family thing and everybody else can go do what they need to do. So Foster, are you OK with me starting right now, right away with hard hitting questions that I have here from the fan? I wouldn't have any other way, my friend. Let's do it. Let's go. OK, so for anyone new, what's Omi unlimited? Like can we start there? What is Omi unlimited? And what do we need to do to get started if anyone hasn't? And it's Omi safe while it's being staked again the same way. And I really love this question because the same way the Nourmys look at NFTs, sometimes I see the VVFAM look at crypto, right? Because it's a wild wild west. Every day we see these reports of people getting drained and all these things happening. So let's start right there. Explain the program and explain exactly why it is safe for them to get comfortable getting uncomfortable. Let's start there. Yeah, absolutely. And when I was building out this program, one of the things that really struck a chord with me is that especially from the VV side, which is a lot of the users that we were looking to target to get involved into this program, this may be their first foray into crypto. And so making sure that they had that security in peace of mind and making sure that the program was easy to understand and getting involved with is very important to us. So first and foremost, what is Omi unlimited? It's as simple as it's the official Omi staking program for the VV ecosystem. And so it was really meant to be the way to reward people for participating in the ecosystem, by keeping them in the ecosystem and giving them rewards that collectors love to collect. And so it's as simple as locking Omi that you already own or going out and purchasing Omi to acquire it on the base network. And then you can participate in the program by earning XP every day. And so that's as simple as it is, that's how you get involved. At the end of each season, your XP turns into exclusive VV collectibles and gems for season one. And we'll be adding more things beyond that. But really outside of a VV account and needing Omi on the base network, that is all that you need in order to get involved with this program. And so when we look at how it's safe, that was one of the things that was really important to us when we were building it. And so that started from the ground up and understanding where the risks exist in crypto and web three and how we can mitigate them. And so the first thing is the smart contract. So where you stake in Ojo means. It's non-custodial. And what that means is that the staking contract holds your Omi. It's not myself that holds your Omi. It's not a Omi that holds your Omi. This is a non-custodial smart contract. It is minted on the blockchain. The blockchain is the controller of this. And it has renounced ownership, which means that no one owns this smart contract. So I, Okoomi, no one else but you can go into this smart contract to retrieve your funds. On top of drafting the smart contract, it was important to know that it was secure. And so we worked with a company named Hackin, who is a web three auditor. They're known in the space. They work with several high profile exchanges and different partners. They audit at our smart contract. And they found no critical, high or medium issues with it. There was one low finding, which was found, and we resolved it. And it has been submitted since. And that has been resolved. So there's no issues with the smart contract that you lock your funds into. And you can see that audit publicly posted on our Okoomi website. For the smart contract itself, some things are changeable. And what I mean by that is, is we can go in and change the burn percentages, an example for when you exit early. Certain things we can't, but for any of those things that can be changed, it requires an admin change. It requires three of five separate signers within the company. And it waits 48 hours before it goes live. And so all those are important so that no one can come in and try and make a change that would be detrimental to the community in a moment. It would take at least two days. We would be notified and be able to stop it in that time. The most important thing for people to keep in mind is that withdrawals can never be paused, meaning that we, regardless of what we do with the smart contract, can never turn off those withdrawals, meaning that your Okoomi will always be accessible to you and you alone. And so all of those things kind of come together and make sure that we're providing a safe program for users to participate in. Okay, perfect, perfect. And let's jump to number two. And again, as we're going to be running through these questions, guys, if you have anything that pops up into your mind, maybe we don't cover, add that as well in the comments below. And Falser, I don't know if you're cool with it. Near the end, if a couple of people want to come up and ask anything, we can do that as well. Yeah, I'd be happy to have the time. Okay, perfect. That way no one can leave you're saying, man, they didn't get to my issue or concern or, even if you're on a praise foster, he's not going to want to hear, but we've got to do it, man. We got to do it. Number two, which lock period should I choose? And how is my daily XP calculated? Yeah, I mean, XP is a different kind of mechanism, right? And so people, I think when they first started, well, as XP, my MCP, or having these points come in. And so people are trying to understand why it's important. And we'll definitely get to that. But when it comes to which lock should you choose, there's four different options that users can pick. And each of them come with their own benefits. There's a three month lock. There's a six month lock. There's a one year or 12 month lock and a two year or 24 month lock. And so each of those as a base will give you a different XP multiplier. So the three month will give you a 1.0 X multiplier. So it's just a base multiplier. But working through each of those tiers up to two years, you can get up to a 2X base multiplier just based on the amount of only that you state from the duration. And in order to earn exclusive collectibles within each season, you may have to have a certain lock duration in order to be eligible. So as an example, in order to be eligible for an ultra rare collectible, you need to lock for at least six months. And so you're eligible for the common, uncommon, and rare collectible, regardless of what time period you select. But if you think that you'd want the ultra rare collectible in any given season, you need to have a lock of at least six months or more in order to be eligible. And for the secret rare, which is obviously the most coveted collectible, you need to have a lock of at least one year or more. And so this is really important for people to understand eligibility does not mean that you will earn the collectible necessarily. But in order to even be eligible to earn it, you need to have that lock period. Oh, OK, OK, OK. That makes sense. OK, let's jump to, because we know how MCP is around here. How do my MCP level and NFTs boast my XP? And does the staking earn an MCP points in VV somehow? What's going on there? Yeah, absolutely. And so one of the things that we looked at building into this program was incorporating different portions of the ecosystem. So whether it be the VV master collector program or some of the things that were happening on stacker, where you were able to earn the daily bonus MCP points, I put them all into one location so that users could benefit from all of these rewards in one place. And so yes, the MCP system, the master collector program from VV does boost your XP. And it's actually probably the most powerful mechanism that you can use in the current model to supercharge your XP. And so from level one to level 100 within the master collector program, you will earn a different multiplier rate. From one exit level one, all the way up to 4x at level 100, it syncs with your account automatically when you log in with VV. And we calculate it in real time with the amount of XP that you're earning. So it is a really cool way for users to really supercharge their experience. Because if you were to take, let's say, a level 100 VV collector that locks up for two years, they end up with an 8x multiplier versus someone else that maybe hasn't committed to VV as long. And is now going to want to look into participating in VV for the first time. On top of the MCP points that you can participate with to get the bonuses, NFTs also play a portion of this as well. So currently, we do have an NFT boost for two collectibles inside the platform. The AccomiCeCore logo gives you an 8% daily boost. And the VV Golden Silver logo adds 7%. So if you hold both, you get a 15% bonus over all of the other multipliers that you have on top of your stake. And so when it comes to NFTs, we will be rolling out more NFTs not just across the VV ecosystem, but across Web3 communities as well, where users will be able to link their Web3 wallets. And if they hold the knowledgeable collectible, they will earn NFT boosts as well. And that's going to be one of the mechanisms that we rely on in order to try and bring in new users from the wider Web3 ecosystem to try and expose them to VV and the only token for the first time to let them know what we're all about. And then finally, for the MCP points question, which I know a lot of people are excited about, yes, your stake does earn MCP points in VV every day. Currently, it's pegged to the same level that it was on Stacker to where you can earn up to 1500 MCP points a day for up to 10 million Omis staked. However, we are currently reviewing that model. And we do believe that we should be rewarding users even further, now that their tokens are locked up versus just arbitrarily holding them in a wallet. So we will likely be extending the max stake eligibility as well as the max MCP points that users can earn per day. So we're really looking forward to rolling that out. OK, perfect. Just a little side question there. Are you rethinking things because of the volume that you're not expecting, or how much people actually willing to lock up and for how long? Did that kind of surprise you to make you think, OK, maybe we could do a bit more here? Yeah, absolutely. It was something that I had always been thinking about in the back of my mind. But the issue when you try and model these things out for a program is that unless you have any data that you could rely on to try and make educated guesses, the problem is because the cap on VV was 10 million only, you had the majority of users that were holding up to 10 million only. But no one was really incentivized to hold further. So you never really knew what boundaries you could push. It was actually possible. And so now that we have a program like this where there really is no limits to the amount of only that you can stake, it really has opened our eyes to what is possible and what it is that users are looking to be rewarded with. And so I think that they deserve to receive those additional rewards for staking so much. And I think that that's going to be one of the mechanisms that we rely on for our web three community-based NFTs that users will be able to stake. It'll give them an incentive to stake even more only because they'll be a lower MCP level, naturally, because they'll have never joined VV before. So this will be one of those ways that they can rank up through the VV levels a little bit quicker in order to make themselves more competitive in this program because we don't want anyone coming in and feeling that there's no point in them participating. And I'm sure we'll get into that in a little bit with the rewards as well. But the point of the system is really to make it for people at all levels to feel like they belong and that they are valued. OK, perfect. And obviously, you thought about this for a long time and you're in the team when you're coming up with it. My only worry, I try to act and I try to treat myself all like I'm always going to be like a peasant and just think of things from the low levels. And I'll think you're not men. What if they forget the little guys who try to scrounge around and try to put a million to get it to be able to stake? I hope the program isn't so great that it forgets those little ones. You completely had that figured out, shout out to you, M.A.T. and for that. It's just personally I wanted to say that. Because I worry about that. In other projects, it's usually, and you're in some of them with me, the whales get to really eat. And then everybody else is just like, if there's crumbs get lucky, you know? Love that you guys did that. OK. What can I win in season one? Will the rewards be revealed before the season ends? And do I need to do anything? Yeah, absolutely. So obviously for season one, we have...