Osmium

Allow us to introduce Osmium, an ecosystem designed to promote blockchain innovation. It is based on Dash and the X11 proof-of-work algorithm. 

Are you serious, another X11 coin? Roll Eyes

You bet, and thanks for asking. We have also noticed the recent outbreak of scammy X11 projects. If you give us a few minutes of your time we will do our best to present our project and spark your interest.

Fine, what is this project supposed to bring to the table?

 Osmium was born from a very simple idea, to promote and reward talent in the blockchain space. It is our goal to drive innovation and to give back what we create to the entire crypto community. We shall create a unique ecosystem that will have the capability to identify and fund innovative projects that can help the entire blockchain space. If you want to learn more feel free to read our whitepaper.

Wait, you have a whitepaper? That is so weird for X11 coins in 2024. Tongue

Yes, you can find the whitepaper on our website https://osmium.space. We have already launched a testnet and a testnet explorer https://testnet.osmium.space to see the chain in action and help future developers with their projects. We plan to announce mainnet launch and our first exchange listing this week so there is some time to get to know us and be there for the launch.

Hmm, this might actually not be a scam. Is there a place where I can check out the community and talk to you?

Sure, we plan to communicate in most major social media like YouTube https://www.youtube.com/@osmiumchain or Twitter https://twitter.com/osmuimchain, but right now the best place to reach us is our Discord https://discord.gg/DM4W2E9Rfa or via Telegram https://t.me/osmiumchain. You might also be relieved to see that the people involved in this project don’t have Discord accounts that were created yesterday but have been around for a few years. Maybe you know us from other projects.

Ok, I’ll definitely pop in to your Discord, now tell me about tokenomics.

Sure thing. Here are the key chain parameters:

Maximum supply: 1.21 million OSMI
Semi-annual reward reduction: ~14%
Initial block reward: 1 OSMI
Block frequency: 1.5 minutes
Masternode collateral: 500 OSMI

Block rewards will be divided as follows:

Miners: 45%
Masternodes: 45%
Management fee: 5%
Superblock rewards: 5%

Ok, that is low max supply. This could be really interesting to see play out in the market. Shocked

Yes.

I see masternode rewards, what purpose will masternodes serve on your chain?

It looks like you know your Dash forks. We bet you’re pointing to the fact that on most recent Dash forks masternode quorums don’t work. If you are asking about this we assume you know that without quorums the network does not ban inactive masternodes and that chainlocks don’t work. So on such networks masternodes are pointless and serve no purpose besides collecting rewards. Well, Osmium masternodes will work just fine, contributing to network security as they should, and playing a key role in our decentralised governance.

Well that is reassuring. You know, this actually doesn’t look like a walletbuilders coin.

Lol, it’s not. We’ve created a fork from the latest Dash 20.1.0 and you can see all of our code changes in our GitHub https://github.com/osmium-labs/osmium. If you know the Dash code you will see immediately that we did this the way it’s supposed to be done.

What about the management fees and superblock rewards, why do you have those?

Superblock rewards will initially be allocated for the more expensive exchange listings. But it will be primarily used to finance blockchain projects as this is a key pillar of our vision. Management fees exist to help fund project management, server infrastructure, marketing activities, development of the ecosystem, software licenses, external services, and everything else that we might need to push the project forward. We actually want to work on this thing to help increase value over time.

That’s fine, you need to get paid for your work. So there’s no pre-mine?

There will be a small premise of 8.000 OSMI but allow us to explain why. We want to secure the chain with masternodes and get listed on an exchange as soon as possible. For this we obviously need exchange listing liquidity and collateral for 13 initial masternodes that will be sold to our users. So yes, there will be a pre-mine but it represents only 0.66% of the maximum supply and most of these coins will be in the hands of our users very quickly.

I see, well that actually makes sense. Tell me more about the masternode sale.

We shall sell the collateral for the initial 13 masternodes to users in our Discord. The whole purpose of initial masternodes is to add security to the chain. In order to do so we need a decentralised masternode layer and therefore the presale is limited to one node per person. One node costs 750 USDT and it's first come first serve.

So when will mainnet launch?

First we need to be sure that we had tested everything a dozen times before we commit to a date. It should take us a few days at most but once we know for certain we shall announce the date here and in our social media channels. We are also already going through the process of getting listed.

Cool. Cool

Yeah, just bear in mind that although we will launch our mainnet using the existing code, there might still be a few fixes here and there, and we will obviously change the genesis block before launch.

Fair enough. Well good luck with the project!

Thank you, looking forward to welcoming you in our community.

mancini

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