Discover and read the best of Twitter Threads about #ohmisbacked
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OlympusDAO 101: Notice the similarities between the bitcoin supply curve and the @OlympusDAO supply curve? OlympusDAO $OHM aims to be the decentralised reserve-backed currency of crypto and here is how Thread 🧵 (1/12)
Each $OHM is backed by 1 unit of RFV, which comes from bond sales + other revenue (LP fees OlymPRO,etc.) To increase the supply of $OHM in the long run, the RFV in the treasury must increase by AT LEAST a proportional amount
1 unit of $OHM is backed by 1 unit of RFV (2/12)
1 unit of $OHM is backed by 1 unit of RFV (2/12)
To increase RFV in the treasury, it needs to incentivise constant inflow of deposits for stables/crypto assets/LP tokens from users. How do we do that from users? Giving them bond discount + attractive yields for staking $OHM (3/12)
A Twitter thread for Newbies in @OlympusDAO
1. An asset that is able to preserve purchasing power in a volatile market like cryptocurrency is highly desirable. The goal of @OlympusDAO is to create the potential future reserve money.
#OHMisBacked #OlympusDAO101
@OlympusDAO
1. An asset that is able to preserve purchasing power in a volatile market like cryptocurrency is highly desirable. The goal of @OlympusDAO is to create the potential future reserve money.
#OHMisBacked #OlympusDAO101
@OlympusDAO
2. $OHM is created without needing to mirror the dollar's purchasing power. Instead of attempting to peg to the dollar, it creates a new asset by contracts, that can eventually serve as a reserve currency for the DeFi sector and beyond.
3. The protocol must hold at least 1 unit of stablecoin to mint every new OHM entering circulation, and it expands its supply as it accrues more capital to back new issuance, as long as traded above the 1 dollar value.
1/14 What is Olympus Pro and what does it mean for @OlympusDAO , $OHM and (3, 3) other than numba go up? At its core, Olympus Pro is all about bringing (3, 3) to the whole of DeFi, not just the Ohmies.
A 🧵 on how Olympus Pro brings (3, 3) to the next level 👇
A 🧵 on how Olympus Pro brings (3, 3) to the next level 👇
2/14 We have covered what $OHM is & how #OHMISBACKED. Briefly, $OHM's bond sales, strong community & game theory mechanics enabled liquidity ownership rather than relying on mercenary capital from LPs. This enables $OHM to be a reserve asset in #DeFi
3/14 #OlympusPro is bringing this bond sale program to other protocols, enabling them to OWN their liquidity by providing protocol-owned liquidity-as-a-service. This allows them to focus on building better products.
olympusdao.medium.com/introducing-ol…
olympusdao.medium.com/introducing-ol…
What is liquidity and why does it matter for $OHM holders?
A thread for Ohmies wondering how liquidity fits into the overall equation and how to interpret results on dashboard.
A thread for Ohmies wondering how liquidity fits into the overall equation and how to interpret results on dashboard.
1. Liquidity is ability to turn an asset into cash.
If you try to sell your house at 30% below market value you will find plenty of buyers.
Try selling at a 30% premium and you won’t find as many.
Point being: liquidity depends on selling price and asset quality.
If you try to sell your house at 30% below market value you will find plenty of buyers.
Try selling at a 30% premium and you won’t find as many.
Point being: liquidity depends on selling price and asset quality.
2. Asset quality depends on an asset’s ability to generate cash flow.
Or command a premium in case of art.
$OHM has strong cash flows. A $23 mm cash balance growing at $500k/day.
If $OHM was a typical Series A start up, there would be NO liquidity for its tokens btw.
Or command a premium in case of art.
$OHM has strong cash flows. A $23 mm cash balance growing at $500k/day.
If $OHM was a typical Series A start up, there would be NO liquidity for its tokens btw.
Let's revisit these metrics now that it's been a month. @OlympusDAO $OHM
RFV sits at just under $20m, up over 3x in about a month
Runway
