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Introduction

What is Olympus?

Olympus is a decentralized reserve currency protocol based on the OHM token. Each OHM token is backed by a basket of assets (e.g. DAI, FRAX) in the Olympus treasury, giving it an intrinsic value that it cannot fall below. Olympus also introduces unique economic and game-theoretic dynamics into the market through staking and bonding. Read more about the game theory aspect of Olympus in one of our blog posts.
Introductory video about Olympus

What is the point of Olympus?

Our goal is to build a policy-controlled currency system, in which the behavior of the OHM token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that OHM can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

How do I participate in Olympus?

There are two main strategies for market participants: staking and bonding. Stakers stake their OHM tokens in return for more OHM tokens, while bonders provide LP or DAI tokens in exchange for discounted OHM tokens after a fixed vesting period.
Governance participants can get involved on our forum and through discussions on our community discord and DAO discord servers respectively. We are always looking for new community members to contribute!

How can I benefit from Olympus?

The main benefit for stakers comes from supply growth. The protocol mints new OHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in OHM and thus the bonder's profit would depend on OHM price when the bond matures. Bonders benefit from a rising or static OHM price.

Who created Olympus?

Olympus was ideated by Zeus and built by a distributed pseudo-anonymous team.

Who runs Olympus?

No one. Olympus is DAO-governed. All decisions are formed by community members on the forum and made by token holders through snapshot voting.
Last modified 2mo ago