OctaDahlia, a Multichain Protocol Geared on Wealth and Power Equity, Launched as the Second UpOnly Token
OctaDahlia, a Uniswap v2 compatible project tackling the misappropriation of wealth and power distribution, launched on October 9 as the second UpOnly token.
The multichain platform on Ethereum, the Binance Smart Chain (BSC), and Polygon plan to resolve pressing challenges on wealth distribution using the UpOnly market mechanism. For equity, the mechanism proposes a system free from the initial pre-economic assumptions, ensuring that profits are distributed to all participants within its ecosystem in real-time.
The creators of OctaDahlia recognize that money is broken. There has been a disproportionate wealth distribution leading to concentration in the hands of a few. The skew resulting from this grows the recipient's power, a disparity that can create problems in the long haul. While this is a challenge that needs to be immediately addressed, OctaDahlia developers note that the problem is cyclic and self-replicating. Once a certain threshold of accumulation is surpassed, their power and wealth will continue expanding via "undue influence and increasingly privileged access to wealth generation opportunities."
Although Bitcoin is an example of how money can be democratically distributed to the people through a self-perpetuating system maintained by the community, its success has discouraged new players' entry. The problem with Bitcoin's success has been the evolution that has discouraged the attitude of abundance and sharing. Early adopters, who accumulated millions of individual coins, it has been observed, have shifted to maintaining the status quo. This diverges from the original objective of the platform's creator Satoshi Nakamoto for disrupting and overhauling the traditional financial system for fairness and drive up financial inclusion.
Subsequent chains like Ethereum have promoted participation, and emerging technologies like DeFi have seen the rise of novel innovations. Even though most of them appear ambitious and labyrinthine, Uniswap, OctaDahlia creators note, is open source and community-driven.
The UpOnly market mechanism combines existing frameworks but within a fair system for equity in distributing rewards equally and in real-time. However, to sustain prices, the mechanism has introduced a price floor for assets and a burning mechanism dictated by market activity. The latter ensures digital assets don't fall below the price floor, which also, in turn, creates a transfer fee in the form of a burn that's charged upon every transaction. This fee is directly distributed to all users through the equal price increase of all tokens.
Using UpOnly, token pricing is based on a dynamic current liquidity value and circulating supply ratio. This ratio makes the UpOnly mechanism's risk more definable and direct. It distributes gains from new users' traders to existing token holders.
According to developers, the UpOnly mechanism transforms the base structure of a trade by fixing risk (maximum trade loss) at two burn fees fluctuating depending on trading volumes. With the UpOnly mechanism, there is a transformation of price floors and the notion of trading risks. These features eliminate volatility and help to evenly redistribute the benefit of all transactions, tacitly overriding Uniswap pricing systems for even more fairness.
OctaDahlia is the second token using the UpOnly mechanism. It is compliant with Uniswap v2 and similar systems like PancakeSwap in the BSC and AnySwap on Polygon. The platform developers plan to add new markets and pairs going forward. Besides, OctaDahlia also intends to launch Market Generation Events (MGEs), which shall be open to private and public users depending on existing market conditions.
The project is developed by the creators of RootKit, OctaLily, upBNB, upTether, and Unifund, whose team is focused on expanding the ERC-31337 standard and other ways to interact with price floors.