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Asfu Profile picture
@asfoooooom
Aug 9, 2021 • 8 tweets • 6 min read • Read on X
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Q. How is $OHM not a ponzi?

A. $OHM is completely transparent and generates revenues beyond bond sales.

~$30k/day ($11 mm annualized) from trading fees and it could generate another $3 mm / yr on its stablecoin balance, assuming 11% yields.

👇

$14 mm / year WITHOUT bond sales Image
There are roughly 1 million $OHM in circulation so $14/OHM is the non bond revenue/OHM/yr

Non bond revenue per $OHM / price per $OHM = 14/415 = 3.4%

Without ANY external capital inflows, $OHM holders can realize a 3.4% dividend yield right now.

Ponzi schemes cannot do this. Image
Q. But these trading and yield farming revenues are less than 10% of total rev, what about that?

A. $OHM is less than 4 months old and it’s in an expansionary phase. It’s treasure balance is barely $30 mm with liquidity barely $65 mm.

Over time non bond revenue % should ⬆️ Image
Q. How will $OHM increase its utility and diversify revenues?

A. There are “several” initiatives and partnerships in various stages.

I’m going to cover one of those initiatives called #odyssey which is a 3D museum and auction house for NFTs. ImageImageImageImage
Q. How will #odyssey increase $OHM’s non bond revenue?

A. Olympus treasury will earn 33.33% royalties from Ohmie auction house sales. 33.33% will go to #odyssey treasury and 33.33% to the artist.

Check out #odyssey FAQs for more and follow @DaoOdyssey

highfalutin-eucalyptus-4d4.notion.site/Odyssey-FAQ-1-…
Q. Is there an ELI5 on #odyssey and this whole intersection between $OHM and NFTs?

There’s this 5 min video. Other than that follow @Memetics33.

So far two Olympus NFTs already sold for $35k+.

@DimitriDaniloff is working on a few genesis NFTs.

Q. What can I expect from the first Odyssey NFTs?

Dimitri is turning 2,000+ year old greek artifacts into 3D Programmatic art. He is working with a Greek archeologist to make this happen.

Check out his Instagram page to get a sense of what’s coming. instagram.com/dimitridanilof… Image
Q. Ok so $OHM non bond revenue = trading fees, yield farming and NFT auctions?

A. Not quite. There are many more projects Ohmies are working on.

I can’t share details of everything but if you’d like to find out, join our DAO server and contribute.

discord.gg/olympuswork

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More from @asfoooooom

Asfu Profile picture
Mar 15, 2022
What is @BeanstalkFarms creating and why does it matter?
- How to ape
- Protocol design
- Founder due diligence
1. Look I get it. You’re here to ape. But I want to be clear.

This. Is. A. Fucking. Experiment.

But there is an interesting deal in it offering a 70x return. It’s called buying “pods” when there is “soil”

Here’s what it means in plain English….
2. When soil is available (rarely these days) you can buy pods. Interest rate on those pods is called “weather”. Currently 7,000%.

That’s where the 70x comes from.

But here’s the thing: you only realize this 70x when supply grows to ~1.387 bn $BEAN (currently at 43 million)
Read 22 tweets
Asfu Profile picture
Mar 13, 2022
There’s a computer program that is trying to keep the value of a bean as close to $1 as possible.

These beans are not real beans but more like records in a database that everyone can see, all the time.

When the value of this bean is above $1, this program prints more beans and
Distributes these beans to people who give money to this computer program.

When people give money to the program they receive more bean, but this only happens when price of 1 bean is above $1.

When price of bean is less than $1, this program tries to attract buyers by…
Offering them a good deal. This good deal means new buyers can get many more beans over time than they purchased.

This program is an experiment and has been running for 7 months. It’s working well so far.

But big questions remain related to the deals offered to people…
Read 5 tweets
Asfu Profile picture
Feb 20, 2022
What is @OlympusDAO creating and why does it matter?
- Money vs Currency
- Reserve Currency Traits
- 11 month Performance
- Olympus bonds
- Staking and APY
- Bank-run scenario
- Bonds deep dive
- Non-bond revenue
- Community strength
- Why $OHM matters
1. OlympusDAO is creating a decentralized reserve currency that is backed by a community governed treasury.

Money and currency are used interchangeably but are different as illustrated in this graphic made by @MessariCrypto.

Gold, $ETH, $BTC are money, the USD is a currency.
2. Defi today relies on dollar pegged coins to settle transactions and provide liquidity.

Challenge with this dependence is shown in the Impossibility Trinity which says all 3 can't co-exist but 2 can:
1) Fixed Exchange Rate
2) Free Capital Flow
3) Sovereign Monetary Policy
Read 34 tweets
Asfu Profile picture
Jan 19, 2022
Some analysis about $OHM for you if you bought the top:

On November 23 2021:
Mcap: $4.3 bn
$OHM price: $906
Index: 37
Risk Free Value / $OHM: $37 + some $ETH, $CVX et al

> You spent $906 to get a minimum $37 claim on Olympus Treasury.

56 days later here’s where you are at.
January 18 2022:
Mcap: $946 mm
$OHM price: $110
Index: 67
Risk Free Value / $OHM: $25

> You now have 1.81 $OHM (Index today / Index on purchase date) and a $45 claim (1.81*$25) on Olympus treasury

Your claim grew by 22.3% during a migration and ugly market conditions.
You may say that this rising $ value claim on Olympus treasury is meaningless because there is no redemption option.

I find measuring progress through rising claim on treasury as a better KPI than market cap because mcap is always going to be volatile for such an asset.
Read 18 tweets
Asfu Profile picture
Dec 23, 2021
@KlimaDAO is primed for a mega bull run in 2022. In this thread I’m going to review $KLIMA fundamentals and speculate on what to expect next quarter.

🧵 🪡 it’s threadoooor time Klimates.
1. The undistributed claim on $KLIMA treasury stands at 82.23%.

Since Risk Free Value is 6.1 million BCT, this implies that minimum 5 million BCT worth of value remains undistributed.

What’s that worth? Depends on price of BCT.
2. At current prices that’s an undistributed risk free claim of about $30 million.

Taking the all time low of $2.5/BCT, we get a risk free undistributed claim $12.5 million.

This is the value a staker gets for just staying staked assuming zero revenues come in from today.
Read 12 tweets
Asfu Profile picture
Dec 22, 2021
Web3 can’t be explained, it has to be experienced.

People in developing countries like Pakistan couldn’t invest in Web2 companies even if they wanted to, but can do so in Web3 initiatives.

Why is this a big deal?
Web3 aligns incentives of a global talent pool that was previously not possible.

$OHM and $KLIMA holders in different countries are actively collaborating to make these protocols succeed. Investors and customers of Tesla and Twitter aren’t doing that.
Web3 gives people in developing countries access to a reliable legal system whereas Web2 powers were mainly accessible to folks living in the developed world.

With Ethereum, my niece and nephew in Pakistan can launch an NFT project and “know” their rights will be protected.
Read 5 tweets

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