ODIN is a decentralized system designed to build a data oracle network, based on an open protocol for interaction between participants and a sustainable economy. In addition to organizing the data oracle network, ODIN involves building a decentralized peer-to-peer data sharing and trading ecosystem.
Binary token system to be implemented for the ODIN project. First ODIN token should secure the network, to be a means of payment for Data consumers and take part in System Governance. The second GEO token will be the means of payment for Data providers.
ODIN will use ODIN native token for its own network as an incentive for validators to produce new blocks and submit responses to data requests.
The total supply of ODIN is capped at 100 million tokens with the following distribution:
Data consumers pool
Staking and validator’s rewards
Company and Founding team
(ODIN tokens allocated to ODIN Treasury are not taking part in System Governance).
Data Providers Token
GEO tokens are used as a means of payment to data providers. Inflationary token which is rather easily obtained by data providers and data producers. Auction mechanism to be used to buy out a certain amount of GEO for ODIN token if the data is paid and consumed in the system.
GEO overall supply is capped at 350.000.000 tokens including:
Data providers rewards
GEO’s investors token sale
Company & Founding team
50.000.000 GEO tokens to be distributed among data providers for about 5 years with an average rate of 27.400 per day.
Tokens which are bought back by the foundation from the data acquisition transactions will be used to reward the next batch of data generating users.
ODIN - GEO
Since ODIN launch GEO to ODIN swap is available for GEO holders with privileged conditions and 24 months vesting period. During this period only staking to validator nodes is available. After this period tokens are unlocked for 12 months evenly on a daily basis.
Regarding token sale campaign and listing to exchanges additional announcements will be made.
Become ODIN validator
Validators support the ODIN ecosystem. They check transactions, generate and confirm blocks, and request external data. To support the system, validators must follow the rules of the ODIN protocol.
Validators are rewarded for acting as a validator and supporting the system:
of the subsidy in each block
of fee, paid by users
of tokens that were received in the result of violation of the validators.
We will provide early validators onboarding procedure in the nearest future.
April 2021. ODIN testnet v0.1
Demonstration of key providers and onboarding of test user
August 2021. ODIN testnet v1.0
Live system, with the most important user flows implemented, suitable for onboarding of beta-testers.
December 2021. ODIN main net v1.0
Fully working system, with the all user flows implemented, suitable for onboarding of all users.