OPERA, a new take on web3 liquidity and niche lending. Here are the goals and features of this new ecosystem.
OPERA, the new dao-governed lending protocol for developers on Ethereum. The next frontier in web 3 liquidity and niche lending.
Opera Protocol is a new DAO Governed Liquidity Bank specifically for the purpose of launching new tokens across several blockchains in a safe a permissionless way.
This ecosystem works by allowing developers, builders, and degens to “get liquid” and fund their LPs (Liquidity Pools) with ETH, without having to ask anyone or wait for anything.
You can think of this like an uncollateralized flashloan with an indefinite time horizon.
$OPERA holders can choose to lend their tokens to the DAO, which provides liquidity to new tokens in order to earn a passive % of trading fees virtually risk free.
Developers essentially borrow ETH from the DAO to launch their tokens in a 100% safe and seamless way.
Why use OPERA?
Picture this: You’re a small web3 developer (or just a normal crypto bro) with time on your hands, and some ideas brewing for potential projects.
You’ve been keeping an eye on recent trends, and decide it is your time to shine – you want to launch your very own memecoin.
You do a bit of research online, find a potential name, an unused ticker, and check how the Ethereum blockchain is doing. You take a look at the transactions on the chain, and realize gas is 70-130 GWEI. Drats, you only have 1-1.5 ETH available. You know you’d likely end up spending about an ETH to deploy, leaving you with less than an ETH when it’s all said and done. So what do you do…?
Developers can come to our application and borrow 1-3 ETH to deploy their token. The deployed token will have a high score on scanners and will be safe to trade, so traders won’t have to worry about rugpulls or devs selling reserve tokens. This is perfect for that short notice Elon tweet, or if you just need a couple Ethereum to launch your project’s token without needing to have a seed round or raise capital to get your LP up and running. Opera has a suite of premade token smart contracts that developers can choose from that can suit the needs of almost every project.
The OPERA Protocol itself primarily serves 3 groups of people. Borrowers that want to launch tokens without the hassle of providing and locking personal funds for liquidity, and the lenders which want to lend their tokens to those borrowers to be used as liquidity. There are also people that just want to participate in the ecosystem, (via holding and staking, voting, etc.) and be a part of something that is helping hundreds of developers get liquid every single day.
Anyone can participate on any side, supply or demand. Or even all three sides at once! The opportunities are vast and will grow as the network & ecosystem expands. The protocol ties everything together in a decentralized way, ensuring that there is distributed ownership of the project and its funds.
Opera Protocol has a token that drives the ecosystem, and it is called $OPERA.
$OPERA is the governance + reward token that is distributed via token emissions to lenders and stakers. It will exist on multiple chains. Though it is not an investment vehicle, nor does it represent/act as a “share”, the token represents a free market and is subject to volatility and risk. There is also several utilities the token will have at launch as well as in the future.
The Opera Token is used to stake, lend, gain access to our dao, and will be used to pay for products and services within our ecosystem. Lenders must acquire and stake a minimum amount of $OPERA to gain the ability to lend and vote. (2,500,000 $OPERA).
The tokenomics for $OPERA are simple. Each buy and sell gets taxed 4%.
3% of the tax goes toward our Marketing Efforts and Operations.
1% of the tax goes to Stakers in the form of Rewards.
The tax is to sustain our project long term and dissuades short term swing trading of our token. Also the tax combats sandwich attacks.