diff --git a/docs/releases.md b/docs/releases.md
index b82bf33..bb8787e 100644
--- a/docs/releases.md
+++ b/docs/releases.md
@@ -16,6 +16,9 @@
     
     If none of the above `ormar` (or rather pydantic) will fail during loading data from the database,
     with missing required value for declared pydantic field.
+* Ormar provides now a meaningful examples in openapi schema, including nested models.
+  The same algorithm is used to iterate related models without looks 
+  as with `dict()` and `select/load_all`. Examples appear also in `fastapi`. [#157](https://github.com/collerek/ormar/issues/157)
 
 ## 🐛 Fixes
 
@@ -26,7 +29,9 @@
 ## 💬 Other
 
 *  Add connecting to the database in QuickStart in readme [#180](https://github.com/collerek/ormar/issues/180) 
-
+*  OpenAPI schema does no longer include `ormar.Model` docstring as description, 
+   instead just model name is provided if you do not provide your own docstring.
+*  Some performance improvements.
 
 # 0.10.5
 
diff --git a/ormar/__init__.py b/ormar/__init__.py
index 1c3d104..f7228d6 100644
--- a/ormar/__init__.py
+++ b/ormar/__init__.py
@@ -76,7 +76,7 @@ class UndefinedType:  # pragma no cover
 
 Undefined = UndefinedType()
 
-__version__ = "0.10.5"
+__version__ = "0.10.6"
 __all__ = [
     "Integer",
     "BigInteger",
diff --git a/ormar/fields/base.py b/ormar/fields/base.py
index 271e9bf..9a217b6 100644
--- a/ormar/fields/base.py
+++ b/ormar/fields/base.py
@@ -31,6 +31,7 @@ class BaseField(FieldInfo):
 
     def __init__(self, **kwargs: Any) -> None:
         self.__type__: type = kwargs.pop("__type__", None)
+        self.__sample__: type = kwargs.pop("__sample__", None)
         self.related_name = kwargs.pop("related_name", None)
 
         self.column_type: sqlalchemy.Column = kwargs.pop("column_type", None)
diff --git a/ormar/fields/foreign_key.py b/ormar/fields/foreign_key.py
index feba37c..707463f 100644
--- a/ormar/fields/foreign_key.py
+++ b/ormar/fields/foreign_key.py
@@ -80,7 +80,7 @@ def create_dummy_model(
     :rtype: pydantic.BaseModel
     """
     alias = (
-        "".join(choices(string.ascii_uppercase, k=2)) + uuid.uuid4().hex[:4]
+        "".join(choices(string.ascii_uppercase, k=6))  # + uuid.uuid4().hex[:4]
     ).lower()
     fields = {f"{pk_field.name}": (pk_field.__type__, None)}
 
diff --git a/ormar/fields/model_fields.py b/ormar/fields/model_fields.py
index 3f4417c..4984771 100644
--- a/ormar/fields/model_fields.py
+++ b/ormar/fields/model_fields.py
@@ -62,6 +62,7 @@ class ModelFieldFactory:
 
     _bases: Any = (BaseField,)
     _type: Any = None
+    _sample: Any = None
 
     def __new__(cls, *args: Any, **kwargs: Any) -> BaseField:  # type: ignore
         cls.validate(**kwargs)
@@ -80,6 +81,7 @@ class ModelFieldFactory:
 
         namespace = dict(
             __type__=cls._type,
+            __sample__=cls._sample,
             alias=kwargs.pop("name", None),
             name=None,
             primary_key=primary_key,
@@ -129,6 +131,7 @@ class String(ModelFieldFactory, str):
     """
 
     _type = str
+    _sample = "string"
 
     def __new__(  # type: ignore # noqa CFQ002
         cls,
@@ -185,6 +188,7 @@ class Integer(ModelFieldFactory, int):
     """
 
     _type = int
+    _sample = 0
 
     def __new__(  # type: ignore
         cls,
@@ -232,6 +236,7 @@ class Text(ModelFieldFactory, str):
     """
 
     _type = str
+    _sample = "text"
 
     def __new__(  # type: ignore
         cls, *, allow_blank: bool = True, strip_whitespace: bool = False, **kwargs: Any
@@ -267,6 +272,7 @@ class Float(ModelFieldFactory, float):
     """
 
     _type = float
+    _sample = 0.0
 
     def __new__(  # type: ignore
         cls,
@@ -316,6 +322,7 @@ else:
         """
 
         _type = bool
+        _sample = True
 
         @classmethod
         def get_column_type(cls, **kwargs: Any) -> Any:
@@ -337,6 +344,7 @@ class DateTime(ModelFieldFactory, datetime.datetime):
     """
 
     _type = datetime.datetime
+    _sample = "datetime"
 
     @classmethod
     def get_column_type(cls, **kwargs: Any) -> Any:
@@ -358,6 +366,7 @@ class Date(ModelFieldFactory, datetime.date):
     """
 
     _type = datetime.date
+    _sample = "date"
 
     @classmethod
     def get_column_type(cls, **kwargs: Any) -> Any:
@@ -379,6 +388,7 @@ class Time(ModelFieldFactory, datetime.time):
     """
 
     _type = datetime.time
+    _sample = "time"
 
     @classmethod
     def get_column_type(cls, **kwargs: Any) -> Any:
@@ -400,6 +410,7 @@ class JSON(ModelFieldFactory, pydantic.Json):
     """
 
     _type = pydantic.Json
+    _sample = '{"json": "json"}'
 
     @classmethod
     def get_column_type(cls, **kwargs: Any) -> Any:
@@ -421,6 +432,7 @@ class LargeBinary(ModelFieldFactory, bytes):
     """
 
     _type = bytes
+    _sample = "bytes"
 
     def __new__(  # type: ignore # noqa CFQ002
         cls, *, max_length: int = None, **kwargs: Any
@@ -468,6 +480,7 @@ class BigInteger(Integer, int):
     """
 
     _type = int
+    _sample = 0
 
     def __new__(  # type: ignore
         cls,
@@ -515,6 +528,7 @@ class Decimal(ModelFieldFactory, decimal.Decimal):
     """
 
     _type = decimal.Decimal
+    _sample = 0.0
 
     def __new__(  # type: ignore # noqa CFQ002
         cls,
@@ -587,6 +601,7 @@ class UUID(ModelFieldFactory, uuid.UUID):
     """
 
     _type = uuid.UUID
+    _sample = "uuid"
 
     def __new__(  # type: ignore # noqa CFQ002
         cls, *, uuid_format: str = "hex", **kwargs: Any
diff --git a/ormar/models/helpers/models.py b/ormar/models/helpers/models.py
index d94f8a8..4c73712 100644
--- a/ormar/models/helpers/models.py
+++ b/ormar/models/helpers/models.py
@@ -3,6 +3,7 @@ import itertools
 import sqlite3
 from typing import Any, Dict, List, TYPE_CHECKING, Tuple, Type
 
+import pydantic
 from pydantic.typing import ForwardRef
 import ormar  # noqa: I100
 from ormar.models.helpers.pydantic import populate_pydantic_default_values
@@ -61,6 +62,12 @@ def populate_default_options_values(
     else:
         new_model.Meta.requires_ref_update = False
 
+    new_model._json_fields = {
+        name
+        for name, field in new_model.Meta.model_fields.items()
+        if field.__type__ == pydantic.Json
+    }
+
 
 class Connection(sqlite3.Connection):
     def __init__(self, *args: Any, **kwargs: Any) -> None:  # pragma: no cover
diff --git a/ormar/models/helpers/validation.py b/ormar/models/helpers/validation.py
index e45f3a8..d861911 100644
--- a/ormar/models/helpers/validation.py
+++ b/ormar/models/helpers/validation.py
@@ -15,6 +15,7 @@ from pydantic.main import SchemaExtraCallable
 import ormar  # noqa: I100, I202
 from ormar.fields import BaseField
 from ormar.models.helpers.models import meta_field_not_set
+from ormar.queryset.utils import translate_list_to_dict
 
 if TYPE_CHECKING:  # pragma no cover
     from ormar import Model
@@ -116,12 +117,45 @@ def choices_validator(cls: Type["Model"], values: Dict[str, Any]) -> Dict[str, A
     return values
 
 
+def generate_model_example(model: Type["Model"], relation_map: Dict = None) -> Dict:
+    """
+    Generates example to be included in schema in fastapi.
+
+    :param model: ormar.Model
+    :type model: Type["Model"]
+    :param relation_map: dict with relations to follow
+    :type relation_map: Optional[Dict]
+    :return:
+    :rtype: Dict[str, int]
+    """
+    example: Dict[str, Any] = dict()
+    relation_map = (
+        relation_map
+        if relation_map is not None
+        else translate_list_to_dict(model._iterate_related_models())
+    )
+    for name, field in model.Meta.model_fields.items():
+        if not field.is_relation:
+            example[name] = field.__sample__
+        elif isinstance(relation_map, dict) and name in relation_map:
+            value = generate_model_example(
+                field.to, relation_map=relation_map.get(name, {})
+            )
+            new_value = [value] if field.is_multi or field.virtual else value
+            example[name] = new_value
+
+    return example
+
+
 def construct_modify_schema_function(fields_with_choices: List) -> SchemaExtraCallable:
     """
     Modifies the schema to include fields with choices validator.
     Those fields will be displayed in schema as Enum types with available choices
     values listed next to them.
 
+    Note that schema extra has to be a function, otherwise it's called to soon
+    before all the relations are expanded.
+
     :param fields_with_choices: list of fields with choices validation
     :type fields_with_choices: List
     :return: callable that will be run by pydantic to modify the schema
@@ -133,6 +167,28 @@ def construct_modify_schema_function(fields_with_choices: List) -> SchemaExtraCa
             if field_id in fields_with_choices:
                 prop["enum"] = list(model.Meta.model_fields[field_id].choices)
                 prop["description"] = prop.get("description", "") + "An enumeration."
+        schema["example"] = generate_model_example(model=model)
+        if "Main base class of ormar Model." in schema.get("description", ""):
+            schema["description"] = f"{model.__name__}"
+
+    return staticmethod(schema_extra)  # type: ignore
+
+
+def construct_schema_function_without_choices() -> SchemaExtraCallable:
+    """
+    Modifies model example and description if needed.
+
+    Note that schema extra has to be a function, otherwise it's called to soon
+    before all the relations are expanded.
+
+    :return: callable that will be run by pydantic to modify the schema
+    :rtype: Callable
+    """
+
+    def schema_extra(schema: Dict[str, Any], model: Type["Model"]) -> None:
+        schema["example"] = generate_model_example(model=model)
+        if "Main base class of ormar Model." in schema.get("description", ""):
+            schema["description"] = f"{model.__name__}"
 
     return staticmethod(schema_extra)  # type: ignore
 
@@ -162,3 +218,5 @@ def populate_choices_validators(model: Type["Model"]) -> None:  # noqa CCR001
             model.Config.schema_extra = construct_modify_schema_function(
                 fields_with_choices=fields_with_choices
             )
+        else:
+            model.Config.schema_extra = construct_schema_function_without_choices()
diff --git a/ormar/models/metaclass.py b/ormar/models/metaclass.py
index 43c8822..20d153a 100644
--- a/ormar/models/metaclass.py
+++ b/ormar/models/metaclass.py
@@ -94,6 +94,7 @@ def add_cached_properties(new_model: Type["Model"]) -> None:
     new_model._related_fields = None
     new_model._pydantic_fields = {name for name in new_model.__fields__}
     new_model._choices_fields = set()
+    new_model._json_fields = set()
 
 
 def add_property_fields(new_model: Type["Model"], attrs: Dict) -> None:  # noqa: CCR001
diff --git a/ormar/models/mixins/relation_mixin.py b/ormar/models/mixins/relation_mixin.py
index 6a71382..c4bd618 100644
--- a/ormar/models/mixins/relation_mixin.py
+++ b/ormar/models/mixins/relation_mixin.py
@@ -48,7 +48,7 @@ class RelationMixin:
         :return: list of related fields
         :rtype: List
         """
-        if isinstance(cls._related_fields, List):
+        if cls._related_fields is not None:
             return cls._related_fields
 
         related_fields = []
@@ -66,7 +66,7 @@ class RelationMixin:
         :return: set of related through fields names
         :rtype: Set
         """
-        if isinstance(cls._through_names, Set):
+        if cls._through_names is not None:
             return cls._through_names
 
         related_names = set()
@@ -86,7 +86,7 @@ class RelationMixin:
         :return: set of related fields names
         :rtype: Set
         """
-        if isinstance(cls._related_names, Set):
+        if cls._related_names is not None:
             return cls._related_names
 
         related_names = set()
diff --git a/ormar/models/newbasemodel.py b/ormar/models/newbasemodel.py
index cd522ba..865a48b 100644
--- a/ormar/models/newbasemodel.py
+++ b/ormar/models/newbasemodel.py
@@ -1,5 +1,4 @@
 import sys
-import uuid
 from typing import (
     AbstractSet,
     Any,
@@ -87,6 +86,7 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
         _choices_fields: Optional[Set]
         _pydantic_fields: Set
         _quick_access_fields: Set
+        _json_fields: Set
         Meta: ModelMeta
 
     # noinspection PyMissingConstructor
@@ -124,60 +124,12 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
         :type kwargs: Any
         """
         self._verify_model_can_be_initialized()
-        object.__setattr__(self, "_orm_id", uuid.uuid4().hex)
-        object.__setattr__(self, "_orm_saved", False)
-        object.__setattr__(self, "_pk_column", None)
-        object.__setattr__(
-            self,
-            "_orm",
-            RelationsManager(
-                related_fields=self.extract_related_fields(), owner=cast("Model", self),
-            ),
-        )
+        self._initialize_internal_attributes()
 
         pk_only = kwargs.pop("__pk_only__", False)
         object.__setattr__(self, "__pk_only__", pk_only)
 
-        excluded: Set[str] = kwargs.pop("__excluded__", set())
-
-        if "pk" in kwargs:
-            kwargs[self.Meta.pkname] = kwargs.pop("pk")
-
-        # build the models to set them and validate but don't register
-        # also remove property fields values from validation
-        try:
-            new_kwargs: Dict[str, Any] = {
-                k: self._convert_json(
-                    k,
-                    self.Meta.model_fields[k].expand_relationship(
-                        v, self, to_register=False,
-                    )
-                    if k in self.Meta.model_fields
-                    else (
-                        v
-                        if k in self.__fields__
-                        # some random key will raise KeyError
-                        else self.__fields__["_Q*DHPQ(JAS*((JA)###*(&"]
-                    ),
-                    "dumps",
-                )
-                for k, v in kwargs.items()
-                if k not in object.__getattribute__(self, "Meta").property_fields
-            }
-        except KeyError as e:
-            raise ModelError(
-                f"Unknown field '{e.args[0]}' for model {self.get_name(lower=False)}"
-            )
-
-        # explicitly set None to excluded fields
-        # as pydantic populates them with default if set
-        for field_to_nullify in excluded:
-            new_kwargs[field_to_nullify] = None
-
-        # extract through fields
-        through_tmp_dict = dict()
-        for field_name in self.extract_through_names():
-            through_tmp_dict[field_name] = new_kwargs.pop(field_name, None)
+        new_kwargs, through_tmp_dict = self._process_kwargs(kwargs)
 
         values, fields_set, validation_error = pydantic.validate_model(
             self, new_kwargs  # type: ignore
@@ -190,10 +142,10 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
 
         # add back through fields
         new_kwargs.update(through_tmp_dict)
-
+        model_fields = object.__getattribute__(self, "Meta").model_fields
         # register the columns models after initialization
         for related in self.extract_related_names().union(self.extract_through_names()):
-            self.Meta.model_fields[related].expand_relationship(
+            model_fields[related].expand_relationship(
                 new_kwargs.get(related), self, to_register=True,
             )
 
@@ -314,15 +266,93 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
         :return: None
         :rtype: None
         """
-        if self.Meta.abstract:
+        if object.__getattribute__(self, "Meta").abstract:
             raise ModelError(f"You cannot initialize abstract model {self.get_name()}")
-        if self.Meta.requires_ref_update:
+        if object.__getattribute__(self, "Meta").requires_ref_update:
             raise ModelError(
                 f"Model {self.get_name()} has not updated "
                 f"ForwardRefs. \nBefore using the model you "
                 f"need to call update_forward_refs()."
             )
 
+    def _process_kwargs(self, kwargs: Dict) -> Tuple[Dict, Dict]:
+        """
+        Initializes nested models.
+
+        Removes property_fields
+
+        Checks if field is in the model fields or pydatnic fields.
+
+        Nullifies fields that should be excluded.
+
+        Extracts through models from kwargs into temporary dict.
+
+        :param kwargs: passed to init keyword arguments
+        :type kwargs: Dict
+        :return: modified kwargs
+        :rtype: Tuple[Dict, Dict]
+        """
+        meta = object.__getattribute__(self, "Meta")
+        property_fields = meta.property_fields
+        model_fields = meta.model_fields
+        pydantic_fields = object.__getattribute__(self, "__fields__")
+
+        # remove property fields
+        for prop_filed in property_fields:
+            kwargs.pop(prop_filed, None)
+
+        excluded: Set[str] = kwargs.pop("__excluded__", set())
+        if "pk" in kwargs:
+            kwargs[meta.pkname] = kwargs.pop("pk")
+
+        # extract through fields
+        through_tmp_dict = dict()
+        for field_name in self.extract_through_names():
+            through_tmp_dict[field_name] = kwargs.pop(field_name, None)
+
+        try:
+            new_kwargs: Dict[str, Any] = {
+                k: self._convert_json(
+                    k,
+                    model_fields[k].expand_relationship(v, self, to_register=False,)
+                    if k in model_fields
+                    else (
+                        v
+                        if k in pydantic_fields
+                        else model_fields["HAP&*YA^)*GW^&QT6567q56gGG%$%"]
+                    ),
+                    "dumps",
+                )
+                for k, v in kwargs.items()
+            }
+        except KeyError as e:
+            raise ModelError(
+                f"Unknown field '{e.args[0]}' for model {self.get_name(lower=False)}"
+            )
+
+        # explicitly set None to excluded fields
+        # as pydantic populates them with default if set
+        for field_to_nullify in excluded:
+            new_kwargs[field_to_nullify] = None
+
+        return new_kwargs, through_tmp_dict
+
+    def _initialize_internal_attributes(self) -> None:
+        """
+        Initializes internal attributes during __init__()
+        :rtype: None
+        """
+        # object.__setattr__(self, "_orm_id", uuid.uuid4().hex)
+        object.__setattr__(self, "_orm_saved", False)
+        object.__setattr__(self, "_pk_column", None)
+        object.__setattr__(
+            self,
+            "_orm",
+            RelationsManager(
+                related_fields=self.extract_related_fields(), owner=cast("Model", self),
+            ),
+        )
+
     def _extract_related_model_instead_of_field(
         self, item: str
     ) -> Optional[Union["Model", Sequence["Model"]]]:
@@ -363,8 +393,8 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
         :rtype: bool
         """
         return (
-            self._orm_id == other._orm_id
-            or (self.pk == other.pk and self.pk is not None)
+            # self._orm_id == other._orm_id
+            (self.pk == other.pk and self.pk is not None)
             or (
                 (self.pk is None and other.pk is None)
                 and {
@@ -748,7 +778,7 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
         :return: converted value if needed, else original value
         :rtype: Any
         """
-        if not self._is_conversion_to_json_needed(column_name):
+        if column_name not in object.__getattribute__(self, "_json_fields"):
             return value
 
         condition = (
@@ -765,20 +795,6 @@ class NewBaseModel(pydantic.BaseModel, ModelTableProxy, metaclass=ModelMetaclass
                 pass
         return value.decode("utf-8") if isinstance(value, bytes) else value
 
-    def _is_conversion_to_json_needed(self, column_name: str) -> bool:
-        """
-        Checks if given column name is related to JSON field.
-
-        :param column_name: name of the field
-        :type column_name: str
-        :return: result of the check
-        :rtype: bool
-        """
-        return (
-            column_name in self.Meta.model_fields
-            and self.Meta.model_fields[column_name].__type__ == pydantic.Json
-        )
-
     def _extract_own_model_fields(self) -> Dict:
         """
         Returns a dictionary with field names and values for fields that are not
diff --git a/tests/test_fastapi/test_fastapi_docs.py b/tests/test_fastapi/test_fastapi_docs.py
index 03f0892..94ac9e1 100644
--- a/tests/test_fastapi/test_fastapi_docs.py
+++ b/tests/test_fastapi/test_fastapi_docs.py
@@ -1,6 +1,7 @@
 from typing import List
 
 import databases
+import pydantic
 import pytest
 import sqlalchemy
 from fastapi import FastAPI
@@ -124,6 +125,18 @@ def test_schema_modification():
         x.get("type") == "array" for x in schema["properties"]["categories"]["anyOf"]
     )
     assert schema["properties"]["categories"]["title"] == "Categories"
+    assert schema["example"] == {
+        "id": 0,
+        "name": "string",
+        "categories": [{"id": 0, "name": "string"}],
+    }
+
+    schema = Category.schema()
+    assert schema["example"] == {
+        "id": 0,
+        "name": "string",
+        "items": [{"id": 0, "name": "string"}],
+    }
 
 
 def test_schema_gen():