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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.
