OOMI is a decentralized finance project and cryptocurrency launched on the Stellar Network. The new token OOMI, is a utility token with a limited supply of 44,400,000 with only 500k available on some Stellar Exchanges, with the balance reserved by the OOMI DAO for the token’s primary utility which is to provide project funding for small businesses. OOMI tokens are currently pegged against the Stellar Lumen and can be purchased with XLM.
Currently, OOMI can be purchased with a LOBSTR wallet. LOBSTR is a leading platform for managing Stellar Lumens and other assets issued on the Stellar network. With over 700 positive reviews LOBSTR is one of the most popular and trusted solutions for Stellar.
The OOMI DAO Development team is in the process of choosing partnerships with some of the top developers in the blockchain space to work on the continued development of the smart contract and its layers while in the testing phase. The team has had conversations with Aetsoft (https://aetsoft.net/portfolio/), blockchain developers based in Belarus that has worked with clients such as Volvo and DHL. Other partners are being considered such as ChromAway (https://chromaway.com/), out of Stockholm, intellectSoft (https://www.intellectsoft.net/) LimeChain (https://limechain.tech/) and a few others. Discussions are underway to put the entire system on its on node within the Stellar Blockchain. Forks are being considered to Aragon (https://aragon.org/) to improve on governance.
While early movers are able to purchase tokens now such as the public and the students of LevelUpadvisors.com to be added to their respective project pools, business owners are excited to receive grant funding from their fellow students according to the protocol with a big push in the real estate sector which will soon be posted to www.oomifunds.org.
OOMI Protocol Fixes Crowdfunding
Levelup Advisors US LLC has established a strategic partnership with the OOMI DAO, a foundation created to act as a blockchain-based decentralized finance crowdfunding protocol governed by token holders. One of the biggest challenges with crowdfunding today on platforms like Indegogo.com or seedinvest.com is that a business has to wait for investors to ‘like” their project or the business owner has to be good at pandering their posted project to their friends and family to raise money. The answer was simple, why can’t each student fund each other’s projects?
Students collateralize their projects by purchasing OOMI tokens with XLM. The OOMI token is currently only available on Lobstr, a Stellar wallet. Three different liquidity pools are created for business funding of each student according to their collateralization and completion of the 10-level course which takes anywhere a minimum of 3-10 weeks to finish the course material and receive the equivalent of 40k USDC, 100k USDC, or 250k USDC funded by their fellow students.
For those living in countries with struggling economies, the cryptocurrency-based crowdfunding platform is stabilized by pairing XLM/USDT to establish the price of OOMI. This allows students to fund projects without worries about the exchange rate between other currencies from students participating worldwide.
Only 500k OOMI has been released for purchase by students on the exchange with the balance currently held in reserves. As the token gains adoption, a portion of tokens will be held for advertising marketing and development.