What is Olympus DAO (OHM)? All about cryptocurrency OHM

What is Olympus?

Olympus is a decentralized storage Protocol based on the OHM token – collateralized and backed by the Olympus DAO (also known as Protocol Controlled Value – PCV). Each OHM token will be backed by a pool of assets (eg DAI, FRAX) in Olympus, which will keep the value of OHM stable and not depreciate like other tokens.

Understandably, OHM is a reserve currency, to maintain price stability Olympus will use the Algorithmic Reserve Currency algorithm and also be supported by other decentralized assets.

Highlights of Olympus DAO

You can understand, that with the traditional financial market, banks manage money with many different types of assets (USD, foreign currency, bonds, …) but for OlympusDAO they will manage the same However, the currencies they manage are assets (cryptocurrency).

The difference here is that the decisions/changes, usually traditional banks will rely on a few opinions of a few people, but with the Olympus protocol, all are voted on by the community, OMH holders.

The Olympus protocol benefits investors with token mining activities, there are 2 ways for participants to benefit from Olympus, including:

Staking: You can stake OHM and through that new OHM will be minted, and the profit will be automatically accumulated to maintain the productivity of the stakers.

Bonding: Where users can sell their assets to Olympus in exchange for OHM at a discounted price, typically paid over several years.

In addition, Bonding also plays a role in ensuring the liquidity of OHM, it can be said that it helps Olympus become a protocol that can make profits by adding LPs.

In addition, Olympus is governed by the DAO so decisions are contributed by all community members and platform token holders. Ensure there is no decentralization or non-transparency if participating in the protocol.

How Olympus works with Game Theory

With the aim of solving the problems, Olympus DAO created OHM – a non-pegged stablecoin, by focusing on supply growth instead of price increase and OHM will act as a currency capable of holding real estate prices. tell about market fluctuations.

The operating principle of Olympus DAO includes Protocol Managed Treasury, Protocol Owned Liquidity (POL), Bonding Mechanism and Staking rewards. The way it works will be to sell bonds (Bond) to generate profits for the protocol (Protocol) and treasury (Treasury) used to mint OHM & distribute to investors.

The codes (3,3) in the Single Staking section and (1,1) in the Bonding section, I will explain in detail the meaning as follows:

The indicators will represent the cooperation in Olympus, it will generate the greatest benefit. Game Theory is game theory applied to the protocol, it will analyze the behavior and decisions of the participants. You can simply understand that each user will have a point (1), based on the activities, the point level will change differently, there are 3 main activities including:

Staking (+2): The most profitable action, both helping to increase the value of the OHM token and the return for stakes.
Bonding (+1): Not as high as stakes, but bonding provides assets to Olympus’ coffers.
Selling (-2): This action will hinder the increase in supply for OHM and cause a price drop if the selling quantity is high. Of course, Olympus will not encourage participants to Sell in the protocol, all will be incentivized for the common good of the community.

Eg:

To participate in Protocol users need to bond first in exchange for OHM, they can choose actions that match their criteria.

If both stake ⇒ Both participants in the Protocol benefit (the point is 3+3=6), can also be considered a mutual relationship.

If one stake, the other is a bond ⇒ At this time, the Stake will help increase the supply for OHM and provide liquidity and DAI for the treasury (the point is 3+1=4).

Conversely, if we sell, low points mean base will be reduced ⇒ Protocol impact & profit decrease.

Information Token Olympus DAO (OHM)

Key Metrics OHM

Token Name: Olympus Token.
Ticker: OHM.
Blockchain: Ethereum.
Token Standard: ERC-20.
Contract: 0x383518188c0c6d7730d91b2c03a03c837814a899
Token Type: Utility, Governance.
Total Supply: 2,437,908.
Circulating Supply: 1,993,797.

OHM Token Allocation

Updating…

OHM Token Sale

Updating…

OHM Token Release Schedule

Updating…

OHM Token Use Case

OHM is the native token of Olympus DAO and is applied as follows:

Products & rewards.
Propose and vote on important system changes.

How to earn & own OHM Token?

You can currently earn OHM Token by:

Staking OHM to get OHM.
Buy tokens on supported exchanges.

Exchange OHM Token

Currently, OHM has been supported for trading on exchanges such as Coin98 Exchange, Hotbit, Sushiswap, and Uniswap v2.

Roadmaps & Updates

In January 2022, Olympus DAO launched the Roadmap for 2022, called Olynpus12, with the main goal of focusing on making OHM a reserve asset, expanding the ecosystem,… Read more here.

Project team, investors, partners

Project team

OlympusDAO is independent so anyone can become a contributor to the project by joining the community.

Investors