OLAS Autonolas

Autonolas, also known as Olas, is a network of off-chain services that was established in the summer of 2022 by a team from various European and Asian countries. This network offers a cohesive platform for services including automation, oracles, and co-owned AI. It features a composable stack for developing these services and a protocol that encourages their creation, distinguishing itself by facilitating the operation of these services in a decentralized and co-owned manner.

Services and Technology

The services offered by Autonolas are crafted to merge cryptocurrency with AI, enabling the execution of complex logic in a decentralized fashion while autonomously interacting with both on-chain and off-chain data. A notable application of this autonomous agent technology is Governatooorr, an AI-driven governance delegate designed for decentralized autonomous organizations (DAOs).

Token Launch and Utility

In July 2023, Autonolas launched its public token through a liquidity bootstrapping pool. The **OLAS** token serves as the native utility token of the network, granting access to its fundamental functions. Users can stake OLAS to manage off-chain services and lock OLAS in veOLAS to acquire governance rights, thereby influencing the network’s direction.

Additionally, OLAS supports a distinctive incentive system for developers aimed at increasing the variety of services within the Olas ecosystem. Governance participants can enhance ETH donations to services comprised of autonomous agents and their software components—collectively termed ‘useful code’—using OLAS from the protocol. Token holders can also bond LP shares involving OLAS into the protocol to boost protocol-owned liquidity, referred to as ‘useful capital’.

Future Vision

Autonolas is experiencing consistent growth and is continually expanding its support for additional blockchain networks. The project’s ambition is to be implemented on every major blockchain, thereby powering essential off-chain services and achieving the vision of a unified network of off-chain services.