As we approach the launch of Opulous 2.0, we are pleased to announce the first part of our new blog series that will update our community on upcoming tech developments!
Our mission at Opulous is to provide our community with the best possible products and opportunities to participate in one of the most stable real world assets: music.
It’s an exciting time at Opulous as we stand on the cusp of releasing new cutting-edge products to a global audience.
But that’s not all; we’re building these new products on an Ethereum Layer 2 blockchain, giving us the exposure needed to accelerate our growth and awareness to the levels our community deserves. The future looks incredibly promising for the Opulous community, with the OPUL token at the center of everything we’re building.
In this blog, we’ll dive into what you can expect from Opulous 2.0, including our upcoming liquid staking pools, hints about the upcoming blockchain we’re building on, new partnerships, fresh marketing initiatives, and updates on the future with our products and tokens on Algorand.
There’s going to be a lot to take in, so sit back, grab a refreshment of your choice, and let’s dive into it!
Introducing Opulous Finance
The first platform we’re introducing as part of Opulous 2.0 is Opulous Finance, an amazing add-on to our MFT launchpad.
In an exciting first for the music and finance industries, Opulous brings music as a real-world asset to a liquid staking format. This truly is the future of #RWA and the music industry, and we are incredibly excited to show you what we have been working on.
Liquid staking is at the heart of Opulous Finance.
This ground-break system allows you to stake your assets in liquidity pools while retaining the flexibility to access them when needed. Unlike traditional staking, where your assets are locked up, liquid staking allows easy entry or exit positions.
With your tokens being liquid, you can use these to participate in newly available functions like yield farming, providing liquidity on decentralized exchanges, and using them as collateral on defi platforms with our exciting, soon-to-be-announced partners.
Opulous Finance is utilizing this model to bridge blockchain and music assets uniquely. It ensures a steady flow of funds earned from real-world assets to fund our liquid staking pools.
Now it’s time to look at the new pools arriving in Opulous 2.0!
Liquid Staking Pools
We are excited to introduce two liquid staking pools as part of Opulous 2.0, a key feature within Opulous Finance. These pools significantly enhance user interaction with real-world assets on our platform. By staking USDC, users can participate in either of these innovative pools.
OLOAN is a brand-new Opulous product, focusing on providing musicians with loans based on their historical streaming earnings, backed by their music copyrights. This system has already gained popularity among many large off-chain financial institutions. It’s an exciting time for real-world assets. For example, banks like Victory Park Capital have already committed $250m into similar stable assets. We are thrilled to open this asset class to the public for the first time.
Through our partnership with Ditto Music, a leading music distribution service, staked funds in OLOAN provide loans for artists, while stakers earn rewards in USDC based on the royalties generated from advances. They will be launching at 9–10% annual APY.
OVAULT is designed for users to gain access to an exclusive and carefully selected music library. Our music experts at Opulous curate a collection of popular and high-performing songs for this library. Participants in OVAULT not only enjoy this unique experience but also earn stable rewards. The USDC staked in this pool enables Opulous to expand the music library, benefiting both the artists and the stakers.
Already successful as an MFT, we are excited to bring this model to a liquid staking model, giving even more utility to your stable tokens. In tandem with this development, MFT holders will be given the option to transfer their existing MFT tokens to our OVAULT pool.
These two liquid staking pools mark a significant advancement in Opulous 2.0. They showcase our dedication to bridging the gap between the music industry and blockchain technology, offering our community new ways to engage with real-world assets and the music world like never before!
Begin your journey by staking USDC into Opulous Finance’s liquidity pools. When you stake USDC, you receive liquidity tokens representing your stake in the pool.
With each repayment cycle, the value of your liquidity tokens appreciates. This increase is directly tied to the royalties collected from music assets, converted into USDC, and distributed back into the pool. The longer you hold your tokens, the greater your potential return becomes, mirroring the ongoing success of the music assets.
If you want to exit your position and withdraw your USDC, you can join the withdrawal queue. This system operates on a first-come, first-served basis, ensuring fairness and transparency.
Your position in the queue dictates when you can withdraw. As repayments are distributed, those in the queue can claim their portion according to the schedule. This guarantees an orderly and equitable distribution of rewards.
Users holding more OPUL will have access to faster withdrawals — more on this in our utility section later on.
For those seeking immediate liquidity, the option to trade your liquidity tokens on secondary markets will be available. This feature adds flexibility to your stake, allowing you to liquidate your positions outside the structured withdrawal queue process.
Smart Contract Flow
The backbone of Opulous Finance consists of three meticulously crafted smart contracts using liquid staking derivatives: the Staking Contract, the Withdraw Contract, and the Token Contract.
Each serves a distinct yet interlinked purpose, forming a seamless operational triad.
- Staking Contract: This is where the magic starts. Users stake USDC to participate in funding rounds, receiving liquid staking tokens in return. This contract meticulously manages staking rounds, ensuring secure and efficient operations.
- Withdraw Contract: Focused on the outflow, this contract enables users to withdraw their stakes and rewards, integrating a systematic queuing mechanism to manage user withdrawals in an orderly fashion.
- Token Contract: Liquid staking tokens, pivotal to the platform’s ecosystem, are created and managed here, ensuring the integrity and utility of this native token.
Next, let’s take a look at the OPUL utility we are implementing in Opulous Finance.
Beyond immediate functionality, Opulous Finance has ambitious plans for future developments.
Opulous Finance is set for its initial launch with a core set of features, but that’s just the beginning. Post-launch, still in Q1, we plan to enhance the platform by integrating the OPUL token into our Finance pools. OPUL token holders will benefit from first access to new staking rounds, placing them at the forefront of new opportunities.
Prioritizing OPUL token holders in the withdrawal queue is another significant enhancement we’re working on. This feature will enable quicker liquidation of positions and faster access to rewards, adding substantial value to holding OPUL tokens and fostering greater community involvement in the platform.
This OPUL integration will work through our well-known Opulous Tickets. This means that OPUL holders will be able to lock their tokens to generate tickets on the platform and use those tickets to get priority access to our pools on both sides when staking and withdrawing.
These new and improved tickets will have even more exciting utility to attract crypto holders outside of our MFT community. More details of this will be revealed in part two of our blog series.
Our current Opulous Tickets are still important for participating in the sales we are running on Algorand, but as soon as we start migrating to our new Solidity platform, we will also offer our users the opportunity to migrate their current tickets to the new platform.
This same ticket system will also work for the MFT sales on the Ethereum L2 to be announced. Our team has been working on an improved allocation model to replace the early access raffles, making it even fairer and easier for our users. This system is planned to be released in Q2 2024.
Stay tuned as Opulous 2.0 evolves, with each phase aimed at creating a more engaged, empowered community, adding more utility and value to the Opulous ecosystem.
Next, let’s take a sneak peek at the new blockchain we will use to launch Opulous 2.0!
The new projects arriving in Opulous 2.0 have been built in Solidity and will launch on one of the largest Ethereum Layer Two blockchains.
Building on this platform, Opulous will gain access to new liquidity and larger communities, thereby, increasing our visibility and user base. But it doesn’t stop there; we will be the first real-world asset platform for the music industry on this new blockchain.
We are working with our new partner on a series of exciting collaborative announcements and marketing efforts to enable Opulous to create a significant buzz upon launch, generating high demand for our platform and the OPUL token.
Opulous is forging exciting new partnerships that will play a pivotal role in enhancing the liquidity of our tokens. As we prepare for our launch, we are thrilled to announce that we are in advanced discussions with several prominent decentralized exchanges.
These exchanges recognize the potential and value of Opulous Finance liquidity tokens and are eager to list them upon our platform’s release. This development is set to create a substantial impact in the crypto space, offering users more accessibility and trading options.
Exciting Marketing Campaigns
In the coming weeks, get ready for a series of exciting marketing campaigns as we are ready up for our Opulous 2.0 launch. We’ll start with an educational phase, using infographics, videos, and more to explain how our new products will work.
Following that, we’ll dive into the promotional phase, unveiling our new blockchain and exchange partners. We have some exciting activations to boost Opulous’ visibility and growth leading up to the platform launch.
Then comes the big moment — the launch phase. We’ll reveal the official launch date of the new platform and prepare for an unforgettable launch event. Brace yourselves for a series of surprises and updates that will be a game-changer for the Opulous community.
This is an incredibly thrilling time to be part of the Opulous journey, and we can’t wait to share it with you. Get ready for an extraordinary experience!
Our Future with Algorand
Many of you have been curious about our future with Algorand, and we have some new updates to share.
For the foreseeable future, we will continue to offer our MFT sales on the Algorand platform. Key MFT operations, including sales, music rewards, and asset distributions, will still be completed through our Algorand platform and Pera Wallet.
When the time comes for us to transition our MFT sales and assets to the new Opulous 2.0 platform, we want to assure you that we will provide clear communication regarding how to bridge your assets across platforms, and our team will be readily available to assist everyone throughout this process.
As for our OPUL token, there will be no changes. The Algorand-based OPUL token will continue to coexist alongside our other tokens on the Binance and Ethereum chains. Our commitment to providing liquidity on exchanges will remain unchanged. We will offer a bridge for OPUL tokens to the new chain, which will coexist harmoniously with our existing tokens!
We love our Algorand community and always have the interests of our community at heart. It’s important to note that we’re building on a new chain to enable opulous to grow and flourish in the way our community deserves, as we strive to build innovative, game-changing products for our community.
There you have it! The rest of 2023 will be very exciting as we drive into the launch of Opulous 2.0!
If you’re as excited about Opulous 2.0 as we are, or if you have any more questions, feel free to reach out to us on our Telegram or social media channels:
Stay tuned for more updates, and join us on this amazing journey! 🚀