Olympus Price (OHM)

What Is OHM Crypto (Olympus)?

Olympus is a decentralized reserve currency protocol based on the OHM token. Each OHM token is backed by a basket of assets (e.g. DAI, FRAX) in the Olympus treasury, giving it an intrinsic value that it cannot fall below. Olympus also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.

What Is the Point of Olympus?

The goal is to build a policy-controlled currency system, in which the behavior of the OHM token is controlled at a high level by the DAO. In the long term, they believe this system can be used to optimize for stability and consistency so that OHM can function as a global unit-of-account and medium-of-exchange currency. In the short term, Olympus intends to optimize the system for growth and wealth creation.

What Makes Olympus Unique?

• OlympusDAO aims to solve the depreciation of stablecoin by creating a free-floating reserve currency, OHM, that is backed by a basket of assets. By focusing on supply growth rather than price appreciation, OlympusDAO hopes that OHM can function as a currency that is able to hold its purchasing power regardless of market volatility.
• Each OHM is backed by 1 DAI, not pegged to it. Because the treasury backs every OHM with at least 1 DAI, the protocol would buy back and burn OHM when it trades below 1 DAI. This has the effect of pushing OHM price back up to 1 DAI. OHM could always trade above 1 DAI because there is no upper limit imposed by the protocol. Think pegged == 1, while backed >= 1. 
• Staking is the primary value accrual strategy of Olympus. Stakers stake their OHM on the Olympus website to earn rewards. The rebase rewards come from the proceed from bond sales, and can vary based on the number of OHM staked in the protocol and the reward rate set by monetary policy.
• Staking is a passive, long-term strategy. The increase in your stake of OHM translates into a constantly falling cost basis converging on zero. This means even if the market price of OHM drops below your initial purchase price, given a long enough staking period, the increase in your staked OHM balance should eventually outpace the fall in price.

Who Are the Founders of Olympus?

Olympus was ideated by Zeus and built by a distributed pseudo-anonymous team. No one runs Olympus. It is DAO-governed. All decisions are formed by community members on the forum and made by token holders through snapshot voting.

How can I benefit from Olympus?

The main benefit for stakers comes from supply growth. The protocol mints new OHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

The main benefit for bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in OHM and thus the bonder's profit would depend on OHM price when the bond matures. Bonders benefit from a rising or static OHM price.

Where Can I Buy Olympus (OHM)?

OHM is available on UniSwapV2 and SushiSwap.

Olympus (OHM) Community

• Twitter: https://twitter.com/OlympusDAO
• Reddit: https://www.reddit.com/r/olympusdao/
• Medium: https://olympusdao.medium.com/
• Telegram: https://t.me/OlympusTG

What is Olympus (OHM) Contracts address?

• Ethereum: 0x383518188c0c6d7730d91b2c03a03c837814a899