{"posts":[{"id":16464,"title":"A new era for the OVR token","excerpt":"Voting for the closing proposal of the IBCO ended on 26th April, 2023 at 8:00 PM CEST. More than 96% of votes were in favor of closure. Link On 2nd May 2023 at 10:43 AM CEST, the IBCO smart contracts have been definitively stopped, and the final total supply of existing OVR tokens is equal […]","content":"

Voting for the closing proposal of the IBCO ended on 26th April, 2023 at 8:00 PM CEST. More than 96% of votes were in favor of closure. <\/span>Link<\/span><\/a><\/p>\n

On 2nd May 2023 at 10:43 AM CEST<\/span>,<\/span> the IBCO smart contracts have been definitively stopped, and the <\/span>final total supply<\/b> of existing OVR tokens is equal to <\/span>89,893,756.<\/b><\/p>\n

\u00a0<\/p>\n

No more tokens will be ever minted by the IBCO.<\/b><\/p>\n

\u00a0<\/p>\n

As stated in the\u00a0<\/span>voting proposal<\/span><\/a>,\u00a0all of the DAI collateral in the bonding curve \u2013\u00a0equal to $1,438,510 \u2013\u00a0have been withdrawn.<\/span><\/p>\n

75% of the withdrawn DAI has been exchanged for ETH for a total amount of <\/span>577.9 ETH<\/span>. The capital has been used to fund the Uniswap V3 OVR\/ETH pool distributing the liquidity on a full range.\u00a0<\/span><\/p>\n

This means that <\/span>577.9 ETH<\/span> has been distributed on the buy side from <\/span>$ 0.298 to $0 per OVR<\/span> token.<\/span><\/p>\n

To better understand how the liquidity structure on the market has changed, let\u2019s make a comparison between the current Uniswap V3 liquidity and the former IBCO liquidity on the buy and sell side:<\/span><\/p>\n

\u00a0<\/p>\n

Buy-Side<\/b><\/p>\n

Past<\/b><\/p>\n

IBCO buy-side from *current price to 0: $1,438,510<\/span><\/p>\n

Now<\/b><\/p>\n

Uniswap V3 buy-side from *current price to 0: ~ <\/span>610 ETH<\/span><\/p>\n

\u00a0<\/p>\n

Sell-Side<\/b><\/p>\n

Past<\/b><\/p>\n

IBCO sell-side from *current price to $1: ~ 7,149,000 OVR<\/span><\/p>\n

IBCO sell-side from *current price to $3: ~ 13,800,000 OVR<\/span><\/p>\n

IBCO sell-side from *current price to $5: ~ 17,015,000 OVR<\/span><\/p>\n

IBCO sell-side from *current price to $10: ~ 21,454,000 OVR<\/span><\/p>\n

Now<\/b><\/p>\n

Uniswap V3 sell-side from *current price to Infinity: ~ 3,900,000 OVR<\/span><\/p>\n

*Current price reference = 6,233.27 OVR per ETH = 0,298 $ per OVR<\/span><\/p>\n

\u00a0<\/p>\n

Note that all of the tokens on the sell-side in the IBCO era would have been newly minted tokens, while, with the IBCO stopped, all of the tokens on the sale-side are from the current supply.<\/span><\/p>\n

The new configuration entails similar volatility in the range from the current price downwards and much higher volatility in the range from the current price upwards. Such a simulation does not account for ETH volatility and future liquidity additions for third parties or OVER.<\/span><\/p>\n

\u00a0<\/p>\n

As stated in the <\/span>voting proposal <\/span><\/a>, the remaining 25% of the withdrawn DAI will be used to fund the project.\u00a0<\/span><\/p>\n

\u00a0<\/p>\n","permalink":"a-new-era-for-the-ovr-token-2","date":"2023-05-03 00:00:00","image_small":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/IBCO-RESULT_1920X1080-1-150x150.jpg","image_medium":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/IBCO-RESULT_1920X1080-1-300x169.jpg","image_large":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/IBCO-RESULT_1920X1080-1-1024x576.jpg","image_full":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/IBCO-RESULT_1920X1080-1.jpg","single_url":"https:\/\/blog.ovr.ai\/es\/a-new-era-for-the-ovr-token-2\/","translations":{"en":{"single_url":"https:\/\/blog.ovr.ai\/a-new-era-for-the-ovr-token\/","permalink":"a-new-era-for-the-ovr-token"},"fr":{"single_url":"https:\/\/blog.ovr.ai\/fr\/une-nouvelle-ere-pour-le-jeton-ovr\/","permalink":"une-nouvelle-ere-pour-le-jeton-ovr"},"es":{"single_url":"https:\/\/blog.ovr.ai\/es\/a-new-era-for-the-ovr-token-2\/","permalink":"a-new-era-for-the-ovr-token-2"},"tr":{"single_url":"https:\/\/blog.ovr.ai\/tr\/a-new-era-for-the-ovr-token-3\/","permalink":"a-new-era-for-the-ovr-token-3"},"zh":{"single_url":"https:\/\/blog.ovr.ai\/zh\/a-new-era-for-the-ovr-token-4\/","permalink":"a-new-era-for-the-ovr-token-4"}}}]}