Who issued the Autonolas (OLAS) coin?

OLAS tokens, the native coin of the Autonomous Network, were distributed through an ICO in 2017, with 100 million tokens released to investors.

Dec 16, 2024 at 04:10 am

Who Issued the Autonolas (OLAS) Coin?

The Autonomous Network (OLAS), previously known as Automaton Network, was launched in 2017 with the goal of building a decentralized network for artificial intelligence (AI) and machine learning (ML) applications. The network's native token, Autonolas (OLAS), plays a crucial role in powering the ecosystem and incentivizing participation.

Key Features of Autonolas (OLAS) Coin:

• Governance: OLAS token holders have the ability to vote on proposals that shape the direction of the Autonomous Network. This includes decisions related to protocol upgrades, treasury allocation, and partnerships.
• Staking: OLAS tokens can be staked to support the network's security and earn rewards. Staking helps to validate transactions and secure the network from malicious actors.
• Transaction Fees: OLAS is used to pay transaction fees on the Autonomous Network. These fees help to maintain the network's infrastructure and incentivize miners to process transactions.
• Access to AI Services: OLAS tokens can be used to access a range of AI and ML services on the Autonomous Network. These services include data labeling, model training, and predictive analytics.

Issuance and Distribution of Autonolas (OLAS) Coin:

The Autonolas (OLAS) coin was issued through an initial coin offering (ICO) in 2017. The ICO raised approximately $3 million, with 100 million OLAS tokens being distributed to investors.

The remaining OLAS tokens are allocated as follows:

• Team and Advisors (20%): Tokens reserved for the project team, advisors, and contributors.
• Foundation (30%): Tokens earmarked for the long-term development and sustainability of the Autonomous Network.
• Ecosystem (50%): Tokens distributed to community members, developers, and partners to foster the growth of the ecosystem.

Autonolas (OLAS) on Cryptocurrency Exchanges:

The Autonolas (OLAS) coin is listed on several cryptocurrency exchanges, including:

• Binance
• Coinbase
• KuCoin
• Uniswap
• Gate.io

Conclusion:

The Autonomous Network (OLAS) aims to create a decentralized AI and ML ecosystem. The native OLAS token serves as the backbone of the network, enabling governance, staking, transaction fees, and access to AI services. By leveraging the power of blockchain technology, the Autonomous Network aims to transform the way AI and ML applications are developed and deployed.