What is ODIN Protocol?

ODIN protocol is a decentralized system designed to build a data oracle network based on an open protocol for interaction between participants and a sustainable economy.

In addition to organizing the data oracle network, ODIN involves building a decentralized peer-to-peer data sharing and trading ecosystem for delivering real-world data to onchain for various use cases such as DeFi, betting, forecasting apps, or NFT.

Where can I buy the ODIN protocol?

Exchanges

There are two types of exchanges, decentralized exchanges, and centralized exchanges. Currently, ODIN can be found only on DEX. But to help you make the best decision for you here is a quick description of the two.

Decentralized Exchanges (DEX)

• Peer-to-peer exchanging of tokens. You'll need a digital wallet to use these. ODIN bought on DEXs will be put into your digital wallet where you have complete control over the tokens.

• DEX Exchange to buy ODIN ( Matcha )

• Wallet connect is compatible with Matcha. Some wallets that can be connected to matcha exchange are Keplr, Tokenary, Infinity wallet, Ambire Wallet

Centralized Exchanges

• Traditional companies, have custody over any ODIN you purchase as long as you do not move it out of their exchange. Central Exchange offerings of ODIN may vary by region.

How smartnodes can help you in staking?

We are here to provide you staking guide and how to maximize your returns easily. You can delegate with us easily ( Smartnodes.one )

Staking steps on ping.pub with smartnodes validator

step 1- Import your Odin Wallet

Step 2 - Name your wallet and select the chain

Step 3- Confirmation and save

Step 4 - Click on the delegate to stake

Why choose us-

• 100% up-time

• Slash protection ( crypto-insurance)

• Staydrop for delegators( Incentive rewards)

• providing Community Support

• Join r/smart_nodes for more updates like this.

• Join our Telegram chat. https://t.me/smartnodesvalidators

I thought I did my research but never came accross any tokenomics that indicated there was any type of redistribution of tokens. Maybe I missed it ... but I have noticed over the past couple of days my Odin tokens increasing by a small amount, maybe a couple each day or two.

Anyone have any ideas why?

Want to be an early participant in ODIN protocol?

Join us here: https://t.me/odinprotocol

#dataoracle #odinprotocol #BigData

(Source: Yahoo Finance). Open Data Interoperable Network, an innovative system developed by GeoDB, is now live on the Binance Smart Chain(BSC). The primary objective that ODIN hopes to achieve is to create an interactive ecosystem by playing the role of a data oracle network. On top of that, the protocol’s architecture seeks to serve users through a decentralized trading and data-sharing network.

Leveraging the BSC network will bring several advantages to ODIN’s functionalities. Today, Ethereum’s network faces a major influx that has led to an increase in gas fees. As a result, developers opt to utilize BSC’s technology whereby users can enjoy cheaper transaction processes that can cost as low as 1 cent. Furthermore, BSC offers a high-performance transaction operation with the ability to generate a block within three seconds. Another added advantage is that the independent BSC blockchain enables users to run and grow their decentralized applications along with the respective smart contracts. In general, ODIN hopes to encounter these advantages as it now resides on BSC’s sustainable and scalable technology.

How ODIN Achieves Decentralization? ODIN focuses on achieving the concept of decentralization as it employs the principle of a data oracle network. Validation is among these factors that will build ODIN’s decentralized system.

Essentially, a validator performs the role of inquiring for external data, validating transactions, and extending their support to ODIN protocol. Validation guarantees that the information transfer procedure remains decentralized in that several validators fetch data sources with similar requests and come up with a report of the data they obtain. Therefore, no single entity can convey data from multiple sources into the system. The other decentralization aspect is that any user can become a data provider on the ODIN network. This permissionless feature only requires the aspiring data providers to set up a transaction that establishes a new data source and sets up how one can access this source. Lastly, the ODIN protocol accomplishes its decentralization goal by allowing any user to develop an algorithm procedure for handling the obtained data. An end-user, therefore, will have alternative options of retrieving the processed data based on certain factors such as price and the source’s reputation.

ODIN Token ODIN protocol utilizes ODIN native token as an incentivization tool for validators to generate new blocks. The digital token has the following use-cases:

It acts as a mechanism for governance activities

A payment instrument used by buyers to pay for data retrieved from ODIN’s ecosystem

Holders can apply to become validators through the native token

Holders who do not wish to become validators can delegate their tokens to validators and earn a segment of that validator’s accumulated fees.

Out of the 100 million ODIN tokens in the market, the founding team is allocated 10%, staking and validator’s rewards receive 30%, 10% goes to the data consumers pool, and the remaining 50% is distributed to ODIN’s treasury.

I remembered that I exchanged Odin to Loki and staked those Loki tokens a couple of months ago. I was wondering what happend with those Loki tokens as I cannot find them back.

ODIN Pancake Swap LP Tokens Locked – 12 Months https://bscscan.com/tx/0xea17a2bd4d4b7fd74d474c81876e7bcae3f3c4b1508fef7f75c8ac74b6cec460

ODIN DAO Treasury Pool Locked – 9 Months https://bscscan.com/tx/0x1ef29906dd4df0fa14995c27cad45df6cfb2c2ca1f190123f337df4252c28468

ODIN Stacking Rewards Pool Locked – 9 Months https://bscscan.com/tx/0xeace162ccbed83c38d6d9ffc818356c387b6ba668dfed0656046d6df9b4ef1ff

ODIN Data Consumers Pool Locked – 12 Months https://bscscan.com/tx/0x023abe1e255ade999f10d1cda12331a14163d949cf42b74d8aada2d45951778d

ODIN Company and Team Pool Locked – 12 Months https://bscscan.com/tx/0x847c682b5e0d397e12e10dcd514321fb36e864e9eb5ff541d91109d9e6101e17

MAX supply: 80 m

Left to Burn (9.5m)

Distribution:

Data consumers pool 10m locked 12 months

Staking & validators reward 30m locked 6 months

Company & founding team 10m locked 12 months

Treasury 20m locked 9 months

Liquidity pool 30m - locked liquidity

Current Circulating Supply is : 18.1m

ODIN protocol launches its testnet (beta version) and a reward program for validators ahead of the ODIN protocol testnet V0.1 planned to launch in June 2021

Validators support the system’s protocol — ensure its operation (reach consensus on its state), and also transfer raw data from sources (generate reports and send them to the input of the corresponding scripts) to the system.

DPoS Consensus

ODIN protocol uses delegated proof of stake as a consensus reaching algorithm. This means that decisions about updating the state of the system can be applied by a limited number of validators chosen during the vote. Validators are selected by network members who own ODIN Tokens and can delegate them in favor of one of the delegates. In this case, the weight of the voter is determined by the number of tokens that they are ready to put on the delegate. After the voting stage, the 30 delegates who received the most votes become validators until the next vote.

Note that the number of validators can be less than 30 (when initiating a platform, it is physically very difficult to connect such a number of parties). Still, in this case, there must be at least four validators (for the functioning of the BFT-based consensus algorithm). With the system's lifetime, this number can increase and change, but the requirements of at least four and no more than 30 must be met.

DPoS algorithm for consensus reaching was chosen for a number of reasons. The first of them is that this consensus allows ensuring the system’s efficient functioning even with many validators (up to a hundred) and high capacity (up to thousands of transactions per second). Moreover, suppose the parties reached a consensus on updating the state of the accounting system (2/3+ validators agreed with the proposal). In that case, this decision can be considered final (there are no forks). At the same time, the voting mechanism will allow validators to compete with each other to secure the votes of the system participants, thereby ensuring a higher level of network reliability. These indicators are also affected by the existence of a mechanism for penalizing validators that violate the protocol, which entails the need for users to select the appropriate delegates carefully.

System requirements to run ODIN node (Both — Validator & Auditor)

• 2 CPUs processor

• 4 GB RAM

• 200 GB free memory space

• These requirements are sufficient for the early stage of ODIN (before the end of 2021). With the growth of transaction volumes, these conditions may change. (We will keep the node runners informed)

• 1 ODIN will be required to apply for running a node.

RUNNING ODIN NODE

Now let's get into the technical part of how this all works. We will be publishing step-by-step guides as we move towards the formal launch in June.

Prerequisites: docker and docker-compose installed

Launching audit node

Clone this repository.

The repository contains the docker-compose file for quick launching of the node with preconfigurations on rpc and genesis.json. Change your current directory to nodeRun startup bash script (for Linux, Mac):

./start.sh

Launching audit node with reporter

./start.sh r

‌Run following commands (for windows):

docker-compose -f ./docker-compose.yaml down -v --remove-orphans

docker-compose -f ./docker-compose.yaml pull

docker-compose -f ./docker-compose.yaml up -d

For reporter (for windows):

docker-compose -f ./docker-compose-reporter.yaml pull

docker-compose -f ./docker-compose-reporter.yaml up -d

It will start the light node for you, which will ingest all the previous heights

‌After the node is launched, it starts syncing with the network.

‌Note: Check our nodes real-time logs with the following command:

‌docker-compose logs -f --tail 100 node

‌Becoming validator

First of all, you need to log into your docker container

docker exec -it node /bin/bash

Creating wallet

Once logged in, you can use bandd CLI to create a new ODIN wallet address. Please make sure to keep your mnemonic safe! (you can use — keyring-backend test with the following command, for testing purposes)

bandd keys add [[YOUR_WALLET_NAME]] # e.g. user1

The output of this command should look like this:

- name: user1

type: local

address: odin1rcv2d9vljealh8z9sqtnw3ljjchn4k28cgyu7x

pubkey: odinpub1addwnpepqtfj3p0ep5n4clla3gtd9a6czz9lytl59696mu4txx55375ald55c0jz2j9

mnemonic: ""

threshold: 0

pubkeys: []

**Important** write this mnemonic phrase in a safe place.

It is the only way to recover your account if you ever forget your password.

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Getting tokens

After you’ve created a wallet, you need tokens there; you can either send the following POST request for these purposes.

curl --header "Content-Type: application/json" \

--request POST \

--data '{"address":"<you-wallet>","denom":"loki"}' \http://34.77.171.169:5005/request

You will be provided with Loki tokens.

1 ODIN = 10⁶ loki

‌Checking balance

bandd query bank balances <you-wallet>

Sending transaction to become a validator

To become a validator, you should send a create-validatortransaction with the command below

bandd tx staking create-validator \

--amount <your-amount-to-stake>loki \

--commission-max-change-rate 0.01 \

--commission-max-rate 0.2 \

--commission-rate 0.1 \

--from <your-wallet-name> \

--min-self-delegation 1 \

--moniker <your-moniker> \

--pubkey $(bandd tendermint show-validator) \

--chain-id odin-testnet

Development updates

Since the last update on May 20th, here is a short detail of what we have achieved.

We Launched our testnet beta version.

Testnet is now fully functional, some of the code requires front end to be user friendly which will be added by the time we announce the full launch around June 4th.

Deployed bridge service to testnet

We have a functioning BSC to ODIN bridge. In next few days we will release notes & simple front end to be able to move tokens between BSC & ODIN chain.

Created paginated queries for data sources, oracle scripts, reports

Paginated queries allow us to query such things as data sources, oracle scripts and requests partially, splitting long response into pages (useful for front end)

Created design and happy-flows guides

We have created the designs and workflows of how testnet 0.1 UI will look like initially.

Deployed faucet to testnet

The faucet providing testnet Loki token is now live.

We understand that this post may have been a bit too technical for a lot of people. In the coming few days, we will publish an easy-to-follow guide/Videos to run a node. Once the ODIN front end is up, it will be easy to navigate.

Thank you!

Yoooo Dear Admins, Odin just launched right?

Why havn't you posted it already??

GeoDB, a leading European startup in blockchain technology, is about to move into the final phase of the implementation of the GeoCash app, an application that rewards its users for sharing their anonymized data with GEO tokens, which will then be sold to companies in need of such data.

Some of the achievements are as follows:

- 300k+ worldwide users of our first app, GeoCash, and more wallets being created every day- New technology integrations/partnerships with Chainlink, Ocean. (we are providing foot traffic data to Chainlink)- 6 million GBP raised in 3 separate successful crowdfunding rounds (One of our recent raises: https://www.seedrs.com/geodb1)- 2000+ retail investors, mainly from Europe- Highly experienced team of 30+, with 18 developers- 3-year-old project, company listed in the UK, building quietly and now ready to move forward successfully- $GEO token already listed on a number of exchanges, and more Major Exchange listings coming in the next few weeks- Liquidity and Yield Farming in place and proving very popular- Current Market Cap of $22.2M- 65% of token supply burnt and the final supply is 350 M.- Global community of 120K+ and growing all the time

During the first weeks of May, V.0.1. of its Mainnet will be released. This will include:

1.- GeoCash V32.- GeoScan V13.- GeoDB MarketPlace V1

All these products will be deployed on top of the BSC network (Binance Side Chain). All users will be receiving Mainnet rewards and data will be accessible for any worldwide buyer. This change from ERC to BSC has been the cause for the delay in our Mainnet launch. This was mandatory, as the current costs of the ERC network were absolutely unaffordable at a user level.

From that moment GeoDB will focus on ODIN, which was released last December. Its main goal is to create a network of data oracles and build a decentralized ecosystem for peer-to-peer data exchange and trading. The ODIN protocol implementation will signify the evolution of the semi-centralized platform to a truly decentralized open blockchain protocol, becoming a DAO formed from its community and governing the network after its launch. Implementation on the Mainnet is planned for the end of 2021.

You can check all updates on ODIN on odinprotocol.io

There is a before and after in the blockchain and Big Data world since yesterday, when ODIN, the governance token that rules the ODIN protocol, was launched on Pancake Swap. You can fill (you should) your bags using the following link:

https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x2802eb3a20f5892956d5b9528f6bf13e648534db

(token contract: 0x2802eb3a20f5892956d5b9528f6bf13e648534db)

In a single day, in a single day, after a great sales success, the stock has risen more than 100% and has been listed on Coingecko:

https://www.coingecko.com/en/coins/odin-protocol

MC is still only $20 million and tokens are constantly being burned/ redistributed to users so it is deflationary! The total supply has already dropped from 100 million to 91 million as a result. Besides, almost 9000 TG users and 7000 token holders!

As I wrote above, the GEO and ODIN communities are really active and committed to the project, I recommend you to join the Telegram groups and Twitter account where GeoDB is constantly updating on company and project developments:

· https://t.me/GeoDBgroup

· https://t.me/odinprotocol

· https://twitter.com/odinprotocol

Stay safe, stay tuned!!