All transactions carried out on the Olympus Ecosystem, including product creating, payment settlements, product purchases, and transactions on the exchange, are subject to fees in order to prevent network abuse and encourage a healthy ecosystem. The fees required for the transactions are specified in units of gas. Gas is used to pay the fees for all transactions that deploy on the Olympus blockchain or the Olympus smart contract. The specific amount of gas required for each transaction depends on the type of the transaction and the amount of system resources required to execute it. Gas only exists in the context of executing transactions in the Olympus Ecosystem. MOT (Mount Olympus Tokens) are used to purchase the gas used to conduct the transactions, so the gas price is quoted in the number of MOTs. The gas price will fluctuate based on the amount of transactions on the network and the amount of resources that are available to reach an equilibrium price.
We are shifting our focus to building tools to help you profit from trading on Binance and Bitmex and will launch the decentralized financial ecosystem once the underlying market conditions and technological barriers are mature.
As one of the 10 Innovators under 35 APAC featured by MIT Tech Review, @loi_luu will be speaking alongside inspiring scientists and technologists leading the next wave of innovation at @EmTechAsia!
Come by our booth on 22nd January in sunny Singapore😁https://t.co/MGJYfRRSC6