About Autonolas
Autonolas, or OLAS, is a decentralized network that integrates off-chain services, including automation, oracles, and co-owned artificial intelligence. It provides a flexible framework for developing these services and includes a protocol that encourages their creation in a collaborative environment. This unique approach facilitates the operation of services in a decentralized and co-owned manner.
The Autonolas network excels at merging cryptocurrency with AI, enabling the execution of complex logic autonomously while interacting with data both on-chain and off-chain. A notable application of this technology is Governatooorr, an AI-driven governance delegate designed for decentralized autonomous organizations (DAOs).
Established in the summer of 2022, the Autonolas DAO launched its public token through a liquidity bootstrapping pool in July 2023. The project is experiencing steady growth and is working towards expanding its support to additional blockchain networks, aiming to create a comprehensive network of off-chain services.
The OLAS token serves as the key to accessing the essential functions of the network. Users can stake OLAS to manage off-chain services and can lock OLAS in a special form of governance token, veOLAS, to gain governance rights, thereby influencing the direction of the network. Additionally, OLAS is integral to a developer incentive system that encourages the proliferation of services within the Autonolas ecosystem.
Governance participants can enhance ETH contributions to favored services made up of autonomous agents and their software components, labeled as 'useful code,' using OLAS. Token holders also have the option to bond liquidity provider shares involving OLAS to increase the protocol's liquidity, referred to as 'useful capital.'