Olympus is a blockchain-based protocol that seeks to create a type of reserve currency built to serve the growing Web3 ecosystem. It hopes that in doing so Olympus will help to create and maintain a neutral currency with the aim of encouraging users to join the DeFi and web3 worlds. The project is run by the OlympusDAO, which is involved in decision-making and development plans.
Olympus hopes to achieve this goal with its own native cryptocurrency, OHM. In more detail, this includes using OHM to preserve purchasing power, provide deep liquidity, serve as a general unit of account, and be utilized as a reserve asset with trusted backing. OHM is community-owned, censorship-resistant, asset-backed, and has deep liquidity.
What are Olympus’ key features and how does it work?
The OlympusDAO forms the core part of the platform. It is comprised of a network of community members who are together responsible for deciding and implementing any protocol changes and developments. Members can submit proposals to a dedicated forum where they can be discussed before being put forward for a vote. Any proposal, no matter its relative importance, must be voted on by the Olympus community.
The DAO also comprises the Olympus Governance Council (OGC). It is composed of veteran community members who facilitate off-chain operations.
The protocol has two main roles: Stakers and Bonders. Stakers deposit OHM into the protocol which helps to secure the Olympus ecosystem and provide price stability. Stakers receive rewards in return for their contribution in the form of tokens and rights to governance.
Taking part in Olympus bonds entitles users to discounted trading fees. Bonding is a financial primitive that allows Olympus to acquire assets in exchange for governance tokens. Bond sales help to ensure additional liquidity and more reserve assets to the Olympus treasury.
Where can you buy OHM?
OHM is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are SushiSwap and Balancer. The price of OHM will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for OHM market prices, please view the price charts on this page.
Historical events:
Olympus (OHM) has been migrated to a v2 contract 0x64aa3364f17a4d01c6f1751fd97c2bd3d7e7f1d5. This page refers to the OHM v2. For more information kindly check this article: https://docs.olympusdao.finance/main/basics/migration. OHM v1 page is available here: https://cryptorank.io/price/olympus-v1
Olympus v2's current share of the entire cryptocurrency market is 0.01%, with a market capitalization of $ 256.30 Million.
OHM
