Olympus DAO seeks a new ATH through fresh bond offerings and partnerships

OHM price is poised to hit a new high following a series cross-platform integrations, fresh bond offers and the launch Olympus Pro. These developments prove that OHM has strong fundamentals.
Blockchain technology is rapidly evolving and offers many options and tokenomic models that aim to solve the blockchain trilemma. They are designed to create a secure, decentralized, and stable network. The’rebase’ tokenomic model has been redesigned several times in the past year. It allows token balances to fluctuate depending on changes in token prices and the supply. Olympus (OHM), a rebase project, has attracted the attention of many in crypto over the past six month. This is due to the high yield offered OHM stakers, currently above 7,000%. Olympus staking dashboard. Source: Olympus DAO. What sets Olympus apart, other than having its main token fluctuate around $1 USD, is that each OHM is an algorithmic reserve currencies backed by a basket assets such as DAI and FRAX that are held in Olympus’ treasury. This gives OHM an intrinsic value that it cannot fall below. Bonding and stake theory. Olympus users can increase the value of their portfolios by staking OHM on Olympus’ protocol to earn rebase reward. Rebase rewards are paid by proceeds from bond sales on Olympus. They can fluctuate depending upon the number and reward rate of bonds sold and the staked OHM. Long-term strategy behind staking on OHM on the network is to lock OHM on the protocol for a long time so that even if the price of the token falls below the initial purchase price, the increase of staked OHM should eventually exceed the price fall and could potentially lead a rise in total value. Bonding on Olympus is basically a mix of a fixed income product and a futures contract. Bonders are given terms for a trade at some future date. These terms include a predetermined amount of OHM that the bonder will get once vesting is complete. OHM stakers continued stacking coins despite the price dropping to a swing low. The $OHM presale is now worth $2.5m if you held itThere are less than ~5 people that did pic.twitter.com/ruYiLKgJ92– Jawsus Christ (@sayinshallah) October 8, 2021

Olympus DAO members recently pointed out that IDO participants who did not stake their initial holdings would now be sitting on an OHM war chest worth over $1 million. Related: Treasury plots stablecoin crackdown as Tether’s dominance wanesTreasury growth and future plansThe protocol also gains revenue from liquidity provider incentives, which are deposited into its treasury. According to the protocol data, the Olympus DAO treasury now has more than $100 million in treasury assets. It is second in DeFi after Uniswap. Olympus has shown that it is keeping up to date with the latest developments within the crypto space by hosting office hours to discuss two proposals facing the community. These were the possibility of adding LUSD into the treasury, and whether Olympus should use the newly released Ethereum (ETH), layer-two solution Arbitrum. Daily chart of OHM/DAI. Source: TradingView. While it remains to be seen how rebase project like Olympus or Ampleforth will perform over the long-term, a quick glance at the daily charts shows that OHM is trading at $1.286 and is on the verge at a new all time high. Although the concept is relatively new in the crypto ecosystem it is still gaining attention because the global financial system is shifting to a new currency standard. These views and opinions are the author’s and do not necessarily reflect those of Cointelegraph.com. Every trade and investment involves risk. You should do your own research before making a decision. These views and opinions are the author’s alone and do not necessarily reflect those of Cointelegraph.com. You should do your own research before making any investment or trading decision.

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