GM to all the Innovatoooors, the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently.
You know it’s crazy early when even people in crypto don’t get OHM yet. We shared our strong conviction in April 2021. Being called out is no fun, but it kept us sharp and motivated to research, read, write, and document our journey.
You know you're building on the frontier if you’re excited as fuck, scared shitless, no idea what the future holds, but extremely passionate & motivated all at the same time.
Staking rewards on OHM tokens are a part of the growth phase of the protocol. They are used to drive users to grow the total amount of OHM they hold. This is counter to hoping tokens appreciate in value.
The perfect currency holds the same purchasing power today as in 50 years. As Olympus grows to immense scale and absorbs the utility, liquidity, and culture of its entire ecosystem, it will serve as the central node of a vast network in which value efficiently, frictionlessly, and purposefully travels throughout its habitat.
But a giant treasury can only do so much. There's nothing innovative about a giant whale. Add in DAO governance focused on strong monetary policy, efficient capital deployment, creatively applying composability, and emphasis on the community? Now we're talking. It's clear that OlympusDAO is building an econOHMy. Olympus Pro helps build partnerships & cohorts, and Incubator/Grants are backing innovative projects.
It’s been called a Ponzi scheme by doubters, a liquidity black hole by analysts, and a potential future reserve asset by the team behind it.
OHM is a currency where the protocol captures all the value, from providing liquidity, and minting new coins, and returns it to stakers. It consists of a protocol-managed treasury, yield generation, liquidity generating bonds, and staking rewards that are designed to control supply expansion. And managing the treasury to stabilize the value of an OHM token against the basket of assets.
Bonds are a secondary strategy used by Olympus to provide more liquidity to the protocol while also providing a more conservative and reliable return. The bonding function allows you to trade OHM at a discount for the price at the time of the trade.
When you stake your OHM it gets locked in the protocol which means less OHM on the market - creating value for the protocol. You can unstake whenever you want. The rewards are tweaked by the protocol in response to the eventual stabilization of OHM value. These rewards, which are a part of the current growth phase of the protocol, are used to drive users to grow the total amount of OHM they hold.
This is counter to what usually occurs in the space, where buyers purchase tokens hoping they appreciate in value. Olympus wants to encourage the accumulation of more OHM, not just less OHM that appreciates in USD-based value.
The community and developers expect that these APYs will compensate for the potentially lower price that OHM will stabilize at in the future (which is a function of the treasury, yield, and market forces).
The technology is cool as F, and there is more transparency than any publicly traded company. The smart contracts that power Olympus are public and can be verified by anyone. The yields and treasury balances are updated in real-time in any ETH block explorer or through the dashboard on the website.
Everybody is always getting caught up in APY. Treasury is where the party is at. Olympus has created several business models. Treasury as a service. Community as a service. Bonds as a service. Incubating new projects. What happens when treasuries start writing seed cheques? Wouldn't you rather raise from a DAO that will give you a real community and never sell... OlympusDAO offers things few VCs can:
- Huge ready-made community to support your project
- Inbuilt crypto native marketing through Agora
- POL services through Olympus Pro
- Elite operational support through the DAO
GM to everyone seeing a vision come to life. Beyond grateful for what we've accomplished up until this point and excited for what the future holds.
The builders are doing what they did from start, head down, impervious to fud, building, educating, fostering, and growing. It isn’t just degens. It’s also creatives. Artists. Academics. Professionals. OlympusDAO is for everyone who want to take the project from an experiment to a core foundation of DeFi. Innovators are welcOHM.