Launched in the summer of 2022, Autonolas, which is now known as OLAS, made its mark with the public release of its OLAS token in July 2023. Built on the Ethereum blockchain, OLAS is designed to bolster the development of autonomous applications, offering a suite of tools that support their continuous and independent functionality. This initiative is particularly aimed at aiding developers and decentralised autonomous organizations (DAOs) in creating applications that can operate and interact autonomously with external systems.

At the core of the OLAS ecosystem resides the OLAS token, instrumental in governing the platform and driving its economic mechanisms. Rooted in a community-centric approach, OLAS priorities stakeholder engagement in governance and decision-making processes.

The distribution of OLAS tokens is orchestrated to ensure a balanced supply, providing incentives such as rewards for users opting to stake their tokens. This strategy, coupled with the token's interoperability across various blockchain environments, significantly amplifies its utility. It fosters a collaborative and dynamic ecosystem, inviting developers and users alike to join forces and innovate within the OLAS network.

Who created Autonolas (OLAS)?

David Minarsch, the founder, with his background in economics and game theory, leads Autonolas. His vision and leadership have propelled the project to focus on leveraging blockchain's potential for autonomous solutions, making it a notable project in the DeFi and broader crypto ecosystem.

Risks of OLAS

Like an investment in other crypto assets, there are some general risks to investing in OLAS. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in OLAS is subject to the following specific risks:

OLAS Finance operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

OLAS Finance operates with tokenized securities and must ensure to stay up to date and inline with applicable regulations. 

OLAS token holders play a role in influencing parameters of Flux Finance, including supported assets and market parameters. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with OLAS. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The OLAS community and OLAS Finance founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of OLAS have no recourse to the OLAS community, OLAS Finance founding team, or Uphold if OLAS declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing OLAS on the Uphold Platform, Uphold performed due diligence on OLAS and determined that OLAS is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

The creation, governance, usage, and design of OLAS, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 

The supply, demand, maturity, utility, and liquidity of OLAS.

Any marketing materials put forward by the OLAS social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

Material technical risks associated with OLAS, including any code defects, security breaches and other threats concerning OLAS and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.

Legal and regulatory risks associated with OLAS, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of OLAS.