Orcus Finance - Builders Program Application

Astar Initiatives Denied proposals
1

Project Overview

Orcus Finance is delivering the first Fractional-Algorithmic Stablecoin - oUSD, which is pegged to the United States dollar and is built on the Astar Network. Since Astar Network is a gateway to the multi-chain environment, we are going to expand our stablecoin to as many networks as possible in the near future.

oUSD uses Dual-Token collateralization, meaning that every oUSD is backed by USDC on the one side, and a part of a governance utility token - $ORU on the other. The oUSD token doesn’t have any hard cap or fixed total supply, the circulation supply of stablecoin depends on the current market supply and demand.

ORU token plays governance and share role inside every minted oUSD. Besides, ORU has a deflationary economical model. It was designed to be burnt and/or protocol owned by the team. This tactic was taken from Olympus DAO.

Orcus Finance is an entirely decentralized and autonomous protocol with the native governance token which aims to be the first leading Fractional-Algorithmic Stablecoin issuer on the Astar network and to implement multiple useful financial tools and other synthetic assets in the ecosystem.

Project UI Preview

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Team (we have experience with Argano protocol on Polygon)

Beka Kharebava
CEO and Business development

Professional trader and financial analyst, Founder of the Russian-speaking crypto community “EASY CRYPTS”. Advisor of the worldwide popular cryptocurrency exchanges Binance and EXMO.

Stas
Head of Delivery

An expert in the DeFi market with 2+ years of experience. Mid-term crypto investor. Market researcher, on-chain analyst, and financial advisor. Responsible for the development management, project management, and the creation of the economical logic.

Vladyslav Chupovskiy
Tech Lead

Responsible for technical logic of the protocol including the front-end and back-end parts. Has years of experience in developing smart contracts on Ethereum, BSC, and Polygon. Previously worked on developing dApps based on React.js and Web3.js

Sulkhan Inaishvili
DevOps Engineer

A professional full of passion for software development and especially for web applications. Responsible for developing complex, scalable, testable, and high-quality web applications with clean architecture and a fully automated continuous delivery manner.

George Butatti
Financial advisor

Professional advisor, with 5+ years of experience offering his financial advisory expertise to technology companies in Silicon Valley and beyond. Has been a part of Deutsche Bank’s Semiconductor Equity Research team and Comerica Bank’s Technology and Life Sciences group.

Ruslan Trif
Economical logic advisor

An expert with 15+ years of experience in trading, consulting, risk management, and brokerage within investment companies in global markets (US, EU, Asia, EM, Russia), including equities, derivatives, FI, FX, REPO, Crypto.

Zauri Kharebava
Business Development Manager

International lawyer and a business development manager with more than 12 years of experience working in the industry. Responsible for the legal side of the project, expert market research, business processes management, risk mitigation, partnership establishment, business development strategies, and more.

Serghei Istratenko

UI/UX designer

A weathered graphic designer and a true expert that has experience working with about every imaginable branch of design, including interfaces, dashboards, mobile applications, corporate websites, landing pages, and more.

Documentation

Github

Milestones

Milestone1: (Launch at March)

$200k equivalent ASTR for the initial liquidity provision on ArthSwap:

  1. ORU / oUSD pool
  2. ORU / USDC
  3. oUSD / USDC

Milestone2: (Further marketing support in March - April)

$20k equivalent ASTR for:

  1. AMA sessions
  2. Infographic overviews
  3. Articles and content

Milestone3: (This should be within 2 months after delivering milestone2)

$20k equivalent ASTR for:

  1. BTC asset implementation
  2. Other assets implementation based on community voting
  3. Development cost coverage

The ORU token is the utility token and stands as a share:

$ORU

Utility:

đź—¸ Governance token which is the unit of the voting power

đź—¸ Utility token in the mint/redeem Dual Token System

đź—¸ Reward token for the liquidity providers

đź—¸ Profit-sharing token for the stakers

Distribution

The total scheduled emission: 1,000,000,000 ORU

Community (70%)

7,000,000 ORU tokens are scheduled for distribution for the liquidity providers and contributors of the protocol within the next 6 years. The emission of ORU is not fixed, it’s subject to change during adjusting new rates for boosting rewards to incentivize partners of Orcus Finance.

Team (25%)

250,000,000 ORU tokens are reserved for the core team of Orcus Finance and will be distributed within the next 6 years.

Treasury (5%)

50,000,000 ORU tokens are reserved for the Treasury and will be distributed within the next 6 years. The purpose of this allocation is targeted for:

  • Development

  • Marketing

  • Automatization

  • Treasury Swap

2 Likes
2

Thanks a lot for your application.

Milestone1: (Launch at March)

$200k equivalent ASTR for the initial liquidity provision on ArthSwap:

Could you clarify the pools? Do you want Astar to provide USDC liquidity in your pool?
We will coördinate this liquidity together with the ArthSwap team. We cant set any amount at the current stage of development.

Milestone2: (Further marketing support in March - April)

$20k equivalent ASTR for:

I would like to set this grant based on KPIs.
This can be based on TVL and usage of dApp through analytics from DappRadar.
TVL $5M → $5k USD equivalent to ASTR
TVL $20M → $15k USD equivalent to ASTR
Users +1k (24h) → $5k USD equivalent to ASTR
… these are just examples but it would be great if we could set those and reward your marketing based on achieved KPIs.

Milestone3: (This should be within 2 months after delivering milestone2)

$20k equivalent ASTR for:

When reaching Milestone 3 and added value to our ecosystem meeting certain standards we can add Orcus to our dApp staking mechanism where you can earn basic rewards and can cover the total amount of this grant through this staking mechanism.

**

3

Milestone1: (Launch at March)

ORU / oUSD LP - $50k
ORU / USDC LP - $50k
oUSD / USDC LP - $50k

Liquidity support for automatization tools - $50k

Milestone2: (Further marketing support in March - April)

$20k equivalent ASTR for:

TVL $500k → $10k USD equivalent to ASTR
Users +500 (24h) → $5k USD equivalent to ASTR
Twitter + Discord members 5k total → $5k USD equivalent to ASTR

Milestone3: We can apply your proposal

4

Thanks for your suggestions. I will review and contact you further on Telegram.
I will post the approved proposal later in this thread.

1 Like
5
Join builder’s program / dApp staking
  • Yes
  • No

0 voters

6

Hey,

Thanks for the application. I just want to ask about tokenomics of ORU token. In the documentation is written:

The emission of ORU is not fixed, it’s subject to change during adjusting new rates for boosting rewards to incentivize partners of Orcus Finance.

Correct me if I am wrong, do you predict to supply unknown amount of token in the future?

50,000,000 ORU are reserved for the public sale which will be held on the Orcus Launchpad. Tokens will be distributed over 2 months.

What about idea of expansion of the time to around 24 months?

7

project suspected rugging. there’s a lot of fud from community mentioning its delay and etc. Fundraising has been done even website is not ready.

203,220USDC withdrawn after IDO and deposited into Binance through cBridge

3 Likes
8

@Ambassadors
Please vote!!

1 Like
10

This is not a scam project. They just delayed the launch by a couple of days. The protocol is working and the team is actively communicating with the community in the discord. They explained the withdrawal of funds by salaries for developers, which is normal. A large part of the liquidity was channeled into the major trading pairs.