Olympus is the next (maybe final) major evolution of digital finance
time for a quick history lesson (and what it tells us about the future):
our history begins with precious metals like gold (we can consider things like rai stones and shells to be pre-history)
these hard monies allowed value to be transacted between individuals and societies with a low trust burden due to how hard they were to produce (mine)
Nov 25, 2022 • 21 tweets • 4 min read
the understanding I have landed on is that OHM measures risk tolerance in its (and possibly the larger crypto) market
my first introduction to this was @DegenSpartan observing the relationship between OHM premium and risk so ty ser
let me explain:
1/
first, let's lay out the three relevant variables
MV = IV + EV, where MV is market value (price), IV is intrinsic (treasury) value, and EV is extrinsic value
IV and MV are independent variables (where MV is more volatile). EV is a dependent variable
2/
As part of this launch, inverse bond facilities have spun down after ~7 months
Let's take a look at what they did while in action:
(WARNING: u wouldn't blv it)
If you've been paying attention, you might have noticed that the number of OHM deposited into the staking contract has been falling the past few weeks
From peak to today, the balance has gone from 22.29m to 20.67m (-7.3%!)
Think that's crazy? It's just the tip of the iceberg
- a reduction of protocol-provided xyk liquidity
- the inception of protocol-provided bids (inverse bonds)
lets look at each independently
1/x
Feb 11, 2022 • 5 tweets • 1 min read
Uploaded a paper (link to the doc with a short synapsis is in the post👇) forum.olympusdao.finance/d/1061-explori…
This is the first of several aiming to center us for the next few years regarding:
- protocol structure
- treasury utilization
- governance
- and more
Jan 28, 2022 • 11 tweets • 2 min read
in tradfi, the responsibility to issue healthy debt is on the lender. they can’t repay -> you lose
in defi, the responsibility is far more on the borrower. minus long tail scenarios, lenders pretty much can’t lose
imo this is an issue
not saying lenders should lose but rather their incentives should lie more in maintaining a healthy lending market than extracting yield with no downside
Jan 26, 2022 • 10 tweets • 2 min read
I am monitoring the ongoing wonderland situation because it provides valuable info for Olympus and it seems fitting to share some thoughts
I will first say that skepticism is healthy and there’s nothing wrong with it, but make sure there’s evidence behind accusations and you are not ascribing malice to something that can be attributed to incompetence (Hanlon’s razor)
Oct 27, 2021 • 16 tweets • 3 min read
ig there are like 15 new forks as of this week
given that, allow me to propose a (3, 3) strategy for Olympus offspring
the pre-bretton woods world looked a lot like what is coming together now
you have a bunch of different currencies utilizing similar reserve assets in their treasuries
Oct 26, 2021 • 7 tweets • 1 min read
some quick thoughts on OHM-ETH bonds, which launch in 10 minutes
I've had this long standing question: at what point is Olympus actively sucking liquidity out of the kings (BTC/ETH)?
A few months ago it was a bit of an absurd question, at this point not so much
Oct 25, 2021 • 17 tweets • 4 min read
Introducing Range, an optimistic stablecoin swap protocol.
(Note: Range is unaudited. Use at your own risk with money you can afford to lose.)
Let's run through what it does 👇🧵
Range is a stablecoin swap protocol that creates Range Pools.
Range Pools make the optimistic assumption that tokens in the pool are always worth the same amount, and therefore always allows trades at a perfect 1:1
Oct 12, 2021 • 16 tweets • 3 min read
One take ive seen is "I get why other protocols would benefit from owning liquidity but I don't see why Olympus needs to exist"
I think the fact that others benefit is exactly why. it kind of goes along with this 👇🧵
It seems like everyone is in favor of, at least, protocol owned liquidity. Given it is properly executed, this is a viable solution to the liquidity mining problem.
Jun 13, 2021 • 22 tweets • 5 min read
Proof of Work Mining vs. Proof of Reserve Bonding
Similar inputs, different outputs
A thread 👇👇👇👇👇👇👇👇👇
Proof of work mining is pretty well understood at this point
Miners use computers that solve math problems to earn block rewards: new tokens minted by the protocol
Mining is how networks like Bitcoin and Ethereum remain secure against attackers
Jun 7, 2021 • 17 tweets • 3 min read
Unpopular opinion: Bitcoin falling from #1 would be one of the most bullish things to ever happen to crypto
“But ser,” the threatened maxi says, “Bitcoin falling from #1 would mean Lindy isn’t a thing. That means nothing can hold value.”
Jun 4, 2021 • 18 tweets • 4 min read
Ready to build ser
The upcoming OHM x FRAX partnership is a big one. I hope you’re paying attention anon
- Non sovereign currency narrative is dying because existing attempts have failed
- They've failed because they don't try
- A non-sovereign currency needs a non-sovereign central bank
- A currency with a decentralized bank has the best chance of replacing stablecoins
Apr 20, 2021 • 21 tweets • 4 min read
1/21 - Stability and growth through bonds:
How they're designed, how they've worked so far, and the role of reserve vs liquidity bonds
A 🧵👇👇👇👇👇👇👇👇👇👇👇👇
2/21 - Bonds have become the cornerstone of Olympus
Today they are our primary treasury accumulation mechanism; and, with the passage of a recent proposal, they're slated to remain in that role scattershot.page/#/olympusdao.e…
Apr 8, 2021 • 15 tweets • 5 min read
Bonds are probably the hardest piece of @OlympusDAO to understand. But they're also one of the most important, and sometimes the most lucrative.
A thread on what bonds are, how they fit into the big picture, and how they're going
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Bonds are the treasury's way of capturing liquidity. They give users the ability to trade SLP tokens for $OHM directly with the protocol.
Our website displays the bond price in DAI for you, because it's effectively a trade at that price
Apr 4, 2021 • 20 tweets • 5 min read
1/20 - A thread🧵on Protocol Controlled Value
New protocols are being built that can never die.
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2/20 - The first generation of algorithmic stablecoins were solely centered around incentive and mechanism design.
Starting with AMPL and the rebase, the concept of elastic supply blossomed into an entire sub-genre of DeFi
Mar 11, 2021 • 14 tweets • 3 min read
A thread on liquidity blackholes and Fuse from @RariCapital
I don’t think you understand what’s coming
$RGT #Fuse
It is my belief that crypto enables easy direct asset ownership, in which you custody and control your own assets, but that that is unlikely to be commonplace as things play out
