We are in the middle of 2021 and things are slowly going back to normal ... the new normal. Tennis tournaments are going forward and @OLICRYPTO is enjoying the summer by winning matches.
Sasha played in the German League on the 13th of June and the fixed income earned was 792 USD. After deducting the franchise and the OLI Reserve distribution, the remaining 0.0850 BCH were distributed to external supporters. Check Distribution Report #2 for more details.
OLICRYPTO is the game we all want to play, right? This is why in the last month we (@OLICRYPTO , @PVMihalache @emergent_reasons @molecular and Denis) had intense focused discussion among the OLI Patriarchs and an agreement was reached to move the OLI Game towards success! The brain storming sessions led to a Green New Deal, which will drive the game towards success and sustainability.
The Green New Deal
The main result was 180 BCH to be provided by supporters in exchange of 150,000 OLI tokens (at 0.0012 BCH/OLI). The rules of the OLI Game where made more transparent and simplified, the scope was focused to just Sasha’s career.
The journey towards simplicity and focus
OLICRYPTO is now GREEN as its all about tennis and Bitcoin Cash. It's NEW because most rules got simplified and above all it's a DEAL because it works for everyone!
At the start of the journey, OLICRYPTO had an excellent idea to combine BCH and financial freedom with sports promotion. With the support of BCH ecosystem and OLI holders, the OLI game got started with short term funding. Then OLICRYPTO looked for longer term funding that would let the OLI game focus on advancement and increase long term value for OLI holders.
Discussions for other sponsorships and the use of DeFi projects didn't please the supporters and the Patriarchs and no one wanted stickers from other projects on the BCH Van. Something had to be done!
The care of basic needs
The first step of the Green New Deal was the agreement for promotions exclusively for BCH. The supporters would provide enough funds for the OLICRYPTO game to run of one year, assuming 2500 USD monthly operating costs. This boost was covered in the Big T-Shirt Promotion .
The Green New Deal gets real!
There was some confusion and considerable surprise for some of the supporters to learn that the bulk of the OLI tokens (995,000 OLI) were not in fact merely for being able to issue more tokens to raise more funds, they were in fact also participating in Prize Distributions depending on Tournament Category. It was quite a journey, but in the end the team had a lot of fun burning 840,320 $OLI. Check the Burn History on the SimpleLedger Explorer
The token mechanics are now much simpler and more transparent, as income payouts to token holders simply go to all tokens in circulation. No more tokens will be issued and there’s no “big stash” that could potentially dilute existing tokens. All this measures were taken to power-up $OLI and give a fair reward to supporters.
The Income Distribution mechanics are now also much simpler and do not depend on tournament category any more. The participation of the “own wallet” was replaced by a simple fixed 85%/15% rule and the below image illustrates the mechanics. Existing holders directly benefit from the positive rule changes and the next payout (July 7th 2021) will be made using the new rules.
The OLI Reserve will handle any payouts and can accumulate considerable funds through good game action by our Hero.
Having funds for one year of operation was good and gave time for another session of brain-storming, about long term plans. Playing in commercial tournaments and the use of DeFi products was both risky and a slowdown for Sasha's career. The solution was to not use DeFi products and to enable Sasha and her team to focus on playing tennis.
Since all OLI have now been issued the only way to participate in the OLI Game for newcomers is to buy $OLI from existing holders. Some large OLI holders have voiced their intention to use memo.cash to sell from their OLI stash at every stage of the career.
@molecular had a gift for all the supporters and sent 1.083 OLI per OLI already owned.
"Being early into something that is uncertain to work takes a lot of guts and I think this should be rewarded. So I decided to do this by sending all existing OLI holders 1.083333 OLI per OLI they already own. This means you essentially bought your OLI for the same (or lower) price as the supporters who participated in the current round (0.0012 BCH/OLI)."
If you missed the amazing interview with @OLICRYPTO , feel free to read both parts and understand why Bitcoin Cash and Sasha will succeed in the future.
The Great People of Bitcoin Cash: Oleksandra Oliynykova (OLICRYPTO) - Tennis
The Great People of Bitcoin Cash: OLICRYPTO - Part 2 - About Cryptocurrencies
This is really beautiful I will love to join the OLI league whenever it holding next