Olympus OHM Price

What is Olympus (OHM)?

Olympus (OHM): Revolutionizing DeFi with a Decentralized Reserve Currency

Olympus (OHM) is a pioneering project in the realm of decentralized finance (DeFi), aiming to establish a non-dollar anchored stablecoin as a reserve currency for the Web3 ecosystem. Operated by OlympusDAO, a community-driven network, OHM serves as a censorship-resistant and deeply liquid asset, governed by its holders through on-chain governance.

Key Features and Mechanisms

Central to Olympus is the OlympusDAO, a community of dedicated members responsible for governance and protocol decisions. The DAO includes the Olympus Governance Council (OGC), consisting of experienced community members overseeing off-chain operations.

OHM's ecosystem involves two main roles: Stakers and Bonders. Stakers provide liquidity and security to the protocol, earning rewards and governance rights. Bonding, on the other hand, allows users to acquire OHM by depositing assets like FRAX, DAI, or wETH into the treasury, enhancing liquidity and reserve assets.

Unique Value Proposition

Olympus stands out for its innovative economic model, which includes a treasury that mints and sells new OHM to maintain its price floor of 1 DAI. When OHM trades below this floor, the treasury buys back and burns OHM. Staking OHM offers high rewards, exceeding 7,000% APY, with rewards compounding every eight hours, incentivizing long-term accumulation.

Moreover, Olympus has expanded its utility beyond treasury growth with Olympus Pro. This service offers bonds to partner protocols, allowing them to bolster their treasuries and reduce reliance on external liquidity pools.

Founders and Governance

Founded by individuals known as “Zeus,” “Apollo,” “Unbanksy,” and “Wartul,” Olympus operates as a DAO, ensuring decentralized governance and decision-making. Notably, “Zeus” and Jeff Extor have been significant contributors to the protocol’s development.

Olympus (OHM) represents a bold experiment in DeFi, pioneering a new approach to stablecoins and reserve currencies. With its community-driven governance, innovative economic mechanisms, and expanding utility, Olympus is poised to play a significant role in shaping the future of the Web3 financial ecosystem.

What is unique about Olympus (OHM)?

Olympus (OHM) stands out for its innovative economic model, featuring a treasury that mints and sells new OHM to maintain its price floor of 1 DAI. It also offers high staking rewards, exceeding 7,000% APY, with rewards compounding every eight hours.

Who are the founders of Olympus (OHM)?

Olympus (OHM) was founded by individuals known as “Zeus,” “Apollo,” “Unbanksy,” and “Wartul,” with significant contributions from “Zeus” and Jeff Extor.

Who are the backers/investors of Olympus (OHM)?

Olympus (OHM) had private backers such as Zee Prime Capital, Nascent, D64 Ventures, Maven11 Capital, and a few unnamed individuals before its initial launch.

Where can I buy Olympus (OHM)?

You can buy Olympus (OHM) on Korbit, Uniswap V3 (Ethereum), Uniswap V2 (Ethereum)Curve (Ethereum)Uniswap V3 (Base) cryptocurrency exchanges.