Opulous Development Update: April 2022

Opulous Development Update: April 2022

Hot on the heels of our SOLD OUT Ard Adz Sale, we’re ramping up transparency on the internal developments at Opulous.

This month, we are excited to highlight some recent features and improvements to the Opulous ecosystem:

  • A message from our CTO, Marc Aché
  • NFT Artwork Launchpad
  • Token Vesting
  • Music Royalties

Join us as we share some of our development highlights from the past several weeks.

A message from our CTO, Marc Aché

It’s been a couple weeks since I first joined Opulous and let me say I’m excited as ever to be here. The team and Lee are working 24/7 to bring value and utility to our $OPUL holders. Our pipeline of projects over the next couple of months are both deep and broad. Coming off our successful Ard Adz MFT sale we have multiple exciting artists lined up behind him.

I am very proud of our tech team and the work they are doing to bring new staking pools with rewards to our holders and coming up very soon you will be able to start collecting royalty rewards on the MFTs. The team is top notch, and they work to make sure every Smart Contract is developed to the highest code standards, plus fully audited so that our users are always protected.

Later this month there will be a big update coming to the Opulous App and we look forward to getting your feedback on it.

Currently, we are looking for a Senior Product Lead in the crypto space to join our growing company, if you think you have what it takes, reach out to us at jobs@opulous.org.

Marc Aché, CTO, Opulous

NFT Artwork Launchpad

In last month’s update, we introduced our all-new generative artwork NFTs. Opulous NFTs are fully loaded with exciting perks ranging from early access to our campaigns to incredible VIP fan experiences and customizable merch.

Our dev team is working incessantly to bring Opulous NFTs to life while building a flawless infrastructure that will power each user’s experience. We are pleased to announce that we have encountered no barriers to developing our NFT launchpad and you will soon be able to buy our Artwork NFTs through the Opulous dashboard.

On the backend, we’ve been working on the main components that are necessary for building on Algorand, further scaling a smooth UX for everyone who joins our platform.

Among these components, we’d like to draw your attention to the following developments:

  • Established Algorand Wallet integration
  • Implemented collections list feature
  • Created NFT rarity tiers
  • Validated our opt-in system
  • Authorized claiming transactions
  • Developed Smart Contract implementation with unique features, including launching NFT collection sales, opt-ins for Algorand assets, and the ability to claim NFTs on our user dashboard.

Token Vesting Update

In mid-March, we updated the Opulous community about our upcoming token vesting update, which kicks into action on April 12th, 2022. After that, OPUL token distributions will switch to daily, and tokens will be claimable on our user dashboard.

As we’ve already mentioned, daily token vesting will reduce any possible price impacts that our previous distribution schedule (every two months) could cause, which will increase the OPUL token’s stability.

Integration with Blockchain

Our team has finalized developing blockchain contracts on the Algorand network in further updates. In addition, we went through a rigorous internal audit check with the Algorand team, ensuring our satisfaction with how we built the logic of the contract.

Additionally, we are performing external audits with Certik to secure our infrastructure.

Claiming Tokens

We’d like to highlight that all tokens scheduled for March distributions are included in the daily vesting schedule.

Once you log in to your account on our user dashboard, you can view all the tokens you are owed, how many you are eligible to claim, your claiming history, and finally, the overall vesting schedule. All OPUL tokens will be released slowly over time, and you can always claim tokens if you have a claim balance greater than 10 OPUL during the contract period.

Music Royalties

Integration with Ditto Music

Currently, we’re working closely with Ditto to actuate the transfer of royalty information and payment data to the Opulous system. All music data will be processed and aggregated, providing useful monthly reports to users through the music royalties page on the user dashboard.

Integration with Algofi

We are working with Algofi to swap out our royalty payments, and to do so, we are using its stable coin (STBL), which provides minimal transaction costs. Also of benefit, the integration with Algofi lets us convert all USD payments to OPUL on-chain. This is another great way to introduce OPUL to new users while creating more volume on the exchanges.

Integration with Blockchain

The Opulous platform is powered by blockchain, which lets you keep track of all royalty payments owed to you, with real-time music royalty analytics for your assets. You can, of course, claim your tokens and transfer them to a wallet of your choice.

Analytics — Integration with API

The Opulous system processes detailed music streaming analytics provided by an external API.

Royalties Page

The royalties page is where you can monitor your earnings data. Here, you can dig into all the interactive music filters — whether you’d like to check out music releases, current or total gains, or even music sales by country, platform, and timeframes.

Once again, everyone at Opulous is thrilled with the outcome of Ard Adz’ campaign, along with all the critical developments that have been unfolding behind-the-scenes during the last several months.

We’re excited to share another development update with you in May as we spring into the next few months of an exciting chapter for our community.

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Opulous offers music copyright NFTs and DeFi loans for musicians and have fans invest in them.