The Elixir platform is powered by none other than holders of a specific NFT collection: Ovols.
Ovols is a non-fungible token (NFT) collection of 10,000 algorithmically-generated 2D owls that serves as a pfp and plays a major role in a larger NFT ecosystem/platform called Elixir, an automated market maker (AMM) and NFT marketplace.
The team facilitated the project’s minting event last November 17, 2022 on the Solana blockchain, where its platform (Elixir) resides.
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The Ovols collection is tied to Elixir’s various tools, such as its application, the Mines, and the Brewery, each serving different purposes, which we will touch upon later.
OVO token is the native token of the entire Elixir ecosystem. Almost half of its supply is dedicated to the community, composed of NFT holders, traders, and market makers (also called liquidity providers). The token will soon roll out staking opportunities for its holders.
OVO token’s primary utilities are to offer creators a sustainable income and incentivize every trader and market maker in the ecosystem. Moreover, holders can soon use OVO tokens to join and generate income from the project’s decentralized autonomous organization (DAO).
Parliament is the DAO platform for Ovols and Elixir, which will soon equip NFT and token holders with the opportunity to participate in its governance. The DAO’s name pertains to a group of owls; a parliament, which perfectly fits the theme of the project.
Once rolled out, the team envisions the governance community handling critical decisions for the ecosystem, including new protocols, features, rewards, and more.
The collection contains 777 legendary NFTs divided into three categories called ‘Blue,’ ‘Red,’ and ‘Gold’ Ovols. The Blue (Common) has 458 owls, Red (Rare) 250, while the Gold (Mythic) has 69.
Even though Ovols had its successful mint and art reveal, all legendaries remain under wraps and will have different traits from the rest of the digital owls. The team plans to gradually reveal this special breed of Ovols in the following months. Lucky collectors will also have a chance to own 1/1 Ovols from these legendary owls.
Nectars are potions that contain various quantities of Ovols and legendaries, which collectors can unlock through burning. These 777 potions will soon be wiped out from the collection once they are all burned by holders.
Ovols will tweak its previous offerings called ‘Mines’ and ‘Brewery’ to make way for new services and benefits for its community.
Earlier, Mines was utilized to accumulate OVO tokens to mint Nectars, but will now transform into a staking-as-a-service platform.
Brewery, meanwhile, was previously used to mint Nectars, but will now be repurposed as an NFT lottery system for holders, giving them opportunities to win whitelist (WL) spots, discounted NFTs, and more.