Oikos is a derivative trading dApp currently deployed on the BSC network. Oikos offers synthetic asset emission and exposure to cryptocurrencies, indices, and stocks. It is a multi-token system, comprised of the Oikos network token (OKS) and several synths (oUSD, oBNB, oETH, oBTC), which track the real-world performances of their underlying assets. Synth supply is backed by OKS collateral, which is staked in the system.
Oikos has seen incredible traction since its inception and the project migration from Tron to BSC was a pivotal moment for the protocol, now in its third year of activity. The past year has seen the launch of several features and partnerships but was characterized by low liquidity and trading volume, which in turn, contributed to price instability and generally poor price performance.
Weathering any difficulty, the team was able to secure the participation of investors and prominent players in the Latin American financial industry. The continued support and amount of resources made available are positively impacting the project and the team has devised a plan, moving forward. This post will outline Oikos' strategy for 2022 and a new roadmap.
During the past years, many projects chose to relinquish control over the protocol to a decentralized body, comprised of stakeholders in the system. Stakeholders vote on proposals involving the project using their tokens, along with the founders and team themselves. This guarantees that the decision process, which influences the future of the project, is not in the hands of a few individuals, but rather, a collaborative endeavor. We believe implementing decentralized governance is a necessary step for Oikos and we are taking steps to achieve this goal. Here is a list of changes you can expect in the immediate future:
- Community migration to Discord
- Nominations and election of OKS council
Community migration is necessary to cut noise and to identify a group of potential key contributors, which will be instrumental in the first stages of the Oikos DAO creation. Plenty of rewards and perks will be allocated to OGs and contributors, so don’t miss out. We will describe the steps we will take and the exact governance structure in an upcoming blog post.
As the whole industry matures, the need for composability and interoperability across protocols and blockchains becomes a more pressing issue. The siloing of resources, caused by a lack of compatibility between standards, is affecting the ecosystem as a whole. Not all protocols are the same though and Oikos is evolving, obeying the industry rules.
The future will see Oikos expanding its presence to more EVM compatible chains, especially focusing on L2 networks. Amongst the considered options are Polygon and xDAI, and although research is still in progress, we expect to go live in Q3 2022. It is important to know that a multi-chain launch will not fragment the current debt pool or synth supply, instead, the system will coexist across different networks. Data will be kept in sync by decentralized oracles and a new debt share mechanism. Research is in progress to determine the exact migration mechanism.
Oikos is seeking to partner with notable algorithmic trading firms, in order to ensure reasonable market liquidity and consistent trading volume across our products. The high incidence of predatory trades and BEV/MEV on EVM blockchains makes it hard to build in-house solutions, such as arbitraging and trading bots. A healthy liquidity and trading volume would allow Oikos to match the requirements for integration with platforms such as Zapper and DeFi station, to name a few.
We have been working hard at enhancing the Oikos branding, in preparation for the upcoming marketing campaign. Today, we are proud to show you a preview of the new Oikos website, which will be launching in the next few days.
As this post made clear, the project is undergoing strong re-organization and we are able to formalize a new roadmap for 2022 and beyond.
- Community migration from Telegram to Discord
- Launch of decentralized governance
- Integration of “Learn and earn” platforms (rabbithole.gg)
- Integration of DAO tools in the governance process
- Marketing campaign focused on multi-chain strategy
- Integration of Chainlink keepers for protocol automation
- Migration to multi-chain contracts (Debt shares)
- Integration of Chainlink feeds for debt shares and synth supply synchronization
- Launch of Polygon L2 (MATIC)
Q4 2022 and beyond
- Expand to more VM compatible chains (xDAI, zkSync, Arbitrum, etc.)
- Establish a full multi-chain presence
- Networking and partnerships to increase synths integration with the ecosystem.
Special thanks to Chainlink for their continued support and encouragement of the team ❤.