Osaka Protocol is a decentralised finance initiative aiming to foster true decentralisation and equality. It follows the vision of Ryoshi and is inspired by Shiba Inu's original vision to create an environment of shared responsibility, where the ownership percentage equates to one's level of influence. The protocol emphasises community engagement and governance, enabling its members to actively participate in project decisions and developments.
Osaka Protocol operates on the Ethereum blockchain as an ERC-20 token. It employs a community voting system for governance, allowing token holders to propose and vote on changes or updates. This consensus mechanism gives more influence to users holding more tokens. The protocol uses Shiba Inu’s smart contract, ensuring immutability and security, and adopts a deflationary model by burning 50% of the total token supply.
Potential use cases of Osaka Protocol include:
Osaka Protocol was launched in April 2023, created by an anonymous entity known as 'Mephisto', inspired by the vision of true decentralisation. The token distribution includes liquidity pools, airdrops to past SHIB sellers, incentives for liquidity farming, and allocation to Ryoshiresearch. Governed by its community, all project decisions are made through a voting system. The protocol remains immutable with no major updates or forks reported. It has demonstrated significant market presence with a strong market capitalisation and price performance.