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Omphalos ICO review. The Protocol Powering Decentralized Finance

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Omphalos is an adaptive base cryptocurrency with scalable chain interoperability. Omphalos ICO rating – not rated.

ICO OmphalosVisit Omphalos ICO site

Upcoming ICO : 15/11/20 – 15/12/20

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About Omphalos ICO (token sale)

Omphalos ICO is an adaptive base cryptocurrency with scalable chain interoperability.

OMPL will connect to Polkadot network for cross-chain interoperability, enabling OMPL asset and data to move between multiple blockchains.

There are five key “Pillars” which the Omphalos operates upon Decentralized Bank, Council, Liquidity Mining, Lending & Borrowing, and Cross-chain Interoperability.

Decentralized Bank: Algorithm-based Price-supply Equilibrium

The financial network is the backbone of all industries. Stability is the key to building an open financial system, yet many stable coins on the market have struggled to achieve the 1 USD equilibrium due to market influences.

In Omphalos (OMPL), we adopt an economical sound Price-supply Equilibrium principle that does not rely on human intervention but achieved through self-executing smart contracts and algorithms adjusted parameters. To achieve equilibrium, the protocol propagates price-information into supply side by reacting to nominal exchange-rate information.

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There are three simple rules of Omphalos ICO project:
(1) if the price exceeds the upper safe bound, $1.06, the supply of OMPL will increase.
(2) if the price is below the lower safe bound, $0.96, the supply of OMPL will decrease.
(3) if the price is within the safe bound, the supply of OMPL remains unchanged.

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Source : ICO Now

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