OctaDahlia, a multichain protocol geared towards wealth and power capital, introduced by BTC peers as the second UpOnly token

OctaDahlia, a multichain protocol geared towards wealth and power capital, introduced as the second UpOnly token

OctaDahlia, a v2-compatible project to combat the misappropriation of wealth and the distribution of power, was launched on October 9th as the second UpOnly token.

The Multichain platform that Binance Smart Chain (BSC) and Polygon plan to solve pressing wealth distribution challenges using the UpOnly market mechanism. For equity, the mechanism proposes a system that is free from the initial pre-economic assumptions and ensures that profits are distributed in real time to all participants within its ecosystem.

The makers of OctaDahlia realize that money is broken. There was a disproportionate distribution of wealth which resulted in concentration in the hands of a few. The resulting skewness increases the recipient’s power, a disparity that can cause problems in the long run. While this is a challenge that needs to be addressed immediately, OctaDahlia’s developers point out that the problem is cyclical and self-replicating. Once a certain accumulation threshold is exceeded, their power and wealth will continue to grow through “inappropriate influence and increasingly privileged access to wealth generation opportunities”.

While it’s an example of how money can be democratically distributed to the people through a self-sustaining system run by the community, its success has deterred the entry of new players. The problem with Bitcoin’s success has been the development that has discouraged the attitude of abundance and sharing. It has been observed that early adopters who amassed millions of individual coins have moved to stick with the status quo. This deviates from the original goal of the platform’s creator, Satoshi Nakamoto, to disrupt and revise the traditional financial system in terms of fairness and promoting financial inclusion.

Subsequent chains like Ethereum have encouraged participation, and emerging technologies like DeFi have seen the rise of new innovations. Although most of them appear ambitious and labyrinthine, Uniswap, according to the developers at OctaDahlia, is open source and community-run.

The UpOnly market mechanism combines existing frameworks, but within a fair system for the even distribution of rewards in real time. However, in order to maintain prices, the mechanism introduced a floor price floor for assets and a burning mechanism dictated by market activity. The latter ensures that digital assets do not fall below the lower price limit, which in turn generates a transfer fee in the form of a burn, which is levied on every transaction. This fee is distributed directly to all users through the same price increase of all tokens.

With UpOnly, token pricing is based on a dynamic current liquidity value and a circulating supply ratio. This ratio makes the risk of the UpOnly mechanism more definable and more direct. It distributes profits from merchants of new users to existing token holders.

According to the developers, the UpOnly mechanism changes the basic structure of a trade by setting the risk (maximum trade loss) at two burn fees that fluctuate depending on the trade volume. With the UpOnly mechanism, there is a transformation of the lower price limits and the concept of trading risks. These features eliminate volatility and help to evenly distribute the benefits of all transactions by silently overriding Uniswap’s pricing systems for even more fairness.

OctaDahlia is the second token that uses the UpOnly mechanism. It is compatible with Uniswap v2 and similar systems such as PancakeSwap in the BSC and AnySwap on Polygon. The platform developers plan to add new markets and pairs in the future. In addition, OctaDahlia also intends to start Market Generation Events (MGEs), which should be open to private and public users depending on the existing market conditions.

About OctaDahlia, the project is being developed by the developers at RootKit, OctaLily, upBNB, upTether and Unifund, whose team is focused on extending the ERC-31337 standard and other ways to interact with price floors.

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