Olympus Labs (N/A) ICO Details & Financial Information

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.