What is Opulous (OPUL) | What is Opulous token

In this article, we’ll discuss information about the Opulous project and OPUL token

DeFi is one of the crypto world’s fastest-growing sectors and set to shape the future of finance. It’s already started to break the stranglehold of banks and make people rethink the archaic processes established by traditional lenders.

While existing platforms have experienced rapid growth — with over $37 billion currently locked up in DeFi projects — Opulous will introduce a new peer-to-peer service, with a game-changing approach to collateral which harnesses the true value of real-world music assets.

DeFi is The Future of Finance

DeFi allows any borrower to quickly access loans without the need for credit checks and audits commonly used by conventional banking institutions.

Essentially, DeFi uses blockchain technology and cryptocurrency to provide financial services like loans, all facilitated via smart contracts.

It is decentralized and anonymous, cutting out unnecessary middlemen and extortionate fees. Users can also generate above-average interest rates by staking their crypto funds in lending pools.

While the benefits of DeFi are clear, current platforms still have challenges to overcome and users must accept a number of unpredictable risks.

Challenges Facing DeFi

As with any lending process, borrowers need to provide collateral of at least equal value to the DeFi loan they want to take out. On current platforms, cryptocurrency is used as collateral. This is where DeFi faces its biggest challenge.

The price of cryptocurrency is notoriously unpredictable. If the value of the crypto in question drops, so does the value of the loan’s collateral. The price of Bitcoin and other alt-coins have been on a wild ride in recent years, which can cause real problems for both DeFi lenders and borrowers using it to back up loans.

In order to mitigate this risk, one of the most prominent DeFi platforms MakerDAO asks borrowers to provide crypto collateral at a much higher value than that of the loan they’re requesting. A minimum of 150% in fact.

And if prices drop, the borrower often ends up paying the price.

In cases where the value of a DeFi loan’s crypto collateral does start to tail-spin, the lending pool is usually regulated to make sure investors don’t lose the money they’ve staked. This can be done by liquidating the collateral to cover the loan. The borrower will be able to keep their loan, but will likely lose out on the crypto they provided to cover it.

As you can see, the fluctuating price of cryptocurrency can bring about complications. But this is where Opulous differs from other DeFi platforms.

The Opulous Solution

Opulous is a decentralised peer-to-peer DeFi loan platform, providing artists with a more direct and accessible way to secure funding, while also offering everyone the opportunity to invest in one of the world’s fastest growing and most lucrative industries: music.

But it’s the Opulous approach to collateral that truly sets it apart.

Opulous loans are backed by future music royalty earnings and copyrights. Unlike cryptocurrency, these assets have predictable future value and carry no risk.

The platform will analyse a borrower’s music data and copyright assets to ascertain how much money they are eligible to borrow. It will then establish a custom loan repayment plan based on their predicted future earnings.

Musicians currently earning a steady royalty income will be eligible to receive up-front loans equal to the value of revenue they generate over 12 months, paying as little as 4% in interest rates.

Harnessing Algorand

Most of the DeFi services out there right now run on Ethereum. Opulous however, is built on the Algorand blockchain.

Algorand is one of the most advanced and exciting blockchain projects in the world, renowned for its security, efficiency and scalability. It can handle 84 million transactions a day and completes all transactions in under 4.5 seconds. It’s the perfect partner to help Opulous scale at pace as more people become aware of the platform’s ground-breaking potential.

The Algorand blockchain is built around its permissionless Pure Proof-of-Stake protocol, which was developed by two-time Turing Award winner Dr Silvio Micali. Since its inception, Algorand has attracted leading computer science, network and cryptography experts from across the globe and established itself as a major player in the blockchain space.

Alongside partners and investors including Borderless Capital, Somesing, Basic and TrustVerse; Opulous and Algorand are set to revolutionize DeFi.

What We Do:

NFT Launchpad

We’re powering a lucrative new revenue stream for creators in the form of music copyright NFTs.

NFT Exchange

Our NFT Exchange allows anyone to invest in music, trade copyright shares and earn royalty revenue alongside their favourite artists.

DeFi Loans

Opulous DeFi Loans are backed by future royalties and will replace the unfair deals traditionally forced on promising artists.

NFT Launchpad

Opulous is the first platform to launch music copyright NFTs.

Unlike other NFTs, Opulous tokens offer buyers a share in the music copyright. These groundbreaking NFTs will generate monthly royalty revenue and increase in value as an artist’s career progresses.

NFT owners can track this passive income and withdraw their earnings directly from their Opulous account. Plus they’ll be tradable on the upcoming Opulous NFT Exchange.

Mint and sell lucrative music copyright NFTs.

Create a brand new revenue stream for artists.

Earn royalties from copyright shares.

NFT Exchange

We’re creating a brand new financial market based on music.

NFT owners can track this passive income and withdraw their earnings directly from their Opulous account. Plus they’ll be tradable on the upcoming Opulous NFT Exchange.

Invest in emerging songs and musicians.

Generate more revenue as artists gain popularity.

Buy and trade music copyright shares as NFTs.

DeFi Loans

Introducing risk-free DeFi loans backed by real-world music assets and future royalties.

Despite earning a stable royalty income, too many artists are turned away by traditional banks or forced into unfair deals with major labels. With Opulous, musicians can fund new projects with DeFi loans up to the value of the royalties they generate over 12 months.

On the other side, investors can stake their crypto assets on our platform to generate high returns. Unlike most DeFi platforms, Opulous loans are always backed by predictable music assets vetted by our expert team, which eliminates risk on investment.

Artists get quick access to cash when they need it.

Investors stake their crypto assets for zero-risk returns.

Direct integration with 76 music services streamlines repayments.

Opulous collaborates with Binance to launch exclusive music NFT drops

Our collab with Binance is great news for the whole Opulous community. We’re set to create and launch some exclusive music NFT drops with major artists via Binance’s brand new NFT marketplace.

There’ll be plenty of opportunities to get involved with our sales, so if you’re part of our awesome community, you’ll be the first to hear about them. Plus, we’re really looking forward to engaging Binance’s worldwide following and sharing our vision for Opulous with millions of new music and blockchain enthusiasts.

We’ll also be offering the chance for upcoming artists we work with to list their own sales on the Binance NFT marketplace down the line, helping them make more money up-front, raise the cash they need to invest in their own careers and form even closer relationships with fans.

Right now though, we’ll be kicking things off with a series of unmissable NFT drops led by world-famous artists including Lil Yachty and Kyle.

But that’s just the start. We’ve got more big-names lined up so keep an eye out for further announcements coming soon.

Don’t forget that this is Opulous, so these are no ordinary NFTs. We’ve designed these drops to connect artists with their fans on a whole new level. In fact, our Binance music NFT sales will also include the opportunity for buyers to take part in once-in-a-lifetime fan experiences and artist engagements.

Unlike many of our future NFTs, these sales will take place outside of the Opulous platform on Binance’s upcoming NFT marketplace. It’s an exciting chance for you to grab one of our first ever Opulous NFTs.

TOKEN ECONOMY

All transactions with the platform will use the native $OPUL token, which can be purchased using ETH, stablecoins and FIAT currencies.

DETAILED TOKEN METRICS

Ticker:OPULBlockchain Network:Ethereum & AlgorandToken Supply:500,000,000Project Valuation:$25,000,000Initial Market Capitalization:$1,248,750Total Raise (All Rounds):$6,450,000Seed SaleFundraised:$1,500,000Price:$0.03Lock-up:10% on month 4, 10% on month 10 and then 10% on a bimonthly basisStrategic SaleFundraised:$1,100,000Price:$0.05Lock-up:10% at the TGE, 3 months cliff, then 10% on a bimonthly basisPrivate SaleFundraised:$2,500,000Price:$0.05Lock-up:10% at the TGE, 3 months cliff, then 10% on a bimonthly basisPrivate Sale 2Fundraised:$350,000Price:$0.05Lock-up:15% at the TGE. 2 months cliff, 25% on month 3 and 30% on month 6 & 12SEED SHO (Round 1)Fundraise:$800,000Price:$0.05Lock-up:10% at the TGE, 3 months cliff, then 10% on a bimonthly basisPersonal Allocation:$2,000SEED SHO (Round 2)Fundraise:$200,000Price:$0.05Lock-up:50% at the TGE and 50% on month 7Personal Allocation:$500

TOKEN DISTRIBUTION

TOKEN RELEASE SCHEDULE

How and Where to Buy OPUL ?

OPUL has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy OPUL token.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since OPUL is an altcoin we need to transfer our coins to an exchange that OPUL can be traded. Below is a list of exchanges that offers to trade OPUL in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase OPUL from the exchange: https://daomaker.com.

The top exchange for trading in OPUL token is currently …

Find more information OPUL

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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

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What is Opulous (OPUL) | What is Opulous token | What is OPUL token