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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

OlympusDAO Fundamentals Explode, How OHM Holders Will Benefit

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
OlympusDAO OHM OHMUSDT

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In only three weeks OlympusDAO native token OHM has gone from $812 to $1639, at the time of writing. In the 30-day chart, the token has a 74.2% profit and a 55% profit in the 7-day chart. The protocol’s fundamental continues growing at an impressive pace and could yield further gains.

OlympusDAO OHM
OHM moving sideways in the daily chart. Source: Coingecko

Data shared by the OlympusDAO revealed an increase in the number of OHM holders. Under 1,000 at the end of March 2021, this metric has more than double in April and stands at 3,300. In the past 30 days, OHM holders have been growing exponentially.

OlympusDAO OHM OHMUSDT
Source: Dune Analytics via OlympusDAO

The team also shows an increase in the Risk-Free Value of Treasury Assets metric, used to measure the minimum value of OlympusDAO assets. As the team said, “no matter where the price hoes; this goes flat or up”. The metric stands at 2,807,363 DAI, at the time of writing and has gone parabolic since April 21st.

OlympusDAO OHM OHMUSDT
Source: Dune Analytics via OlympusDAO

The Market Value of Treasury Assets, related to OHM’s price performance, stands at $25,147,490 million and has seen similar growth in the last month. 90% of OHM’s supply, as the team said, has been consistently staked with the “3,3” as the dominant investment strategy.

In consequence, the protocols Total Value Locked (TVL) has increased after a dropped at the end of March. Since then, the metric rose with the last week seen the fastest growing. OlympusDAO registered $150 million in TVL. The team said the following on potential rewards for investors:

Things don’t look like they will let up for those stakers any time soon; OHM waiting to be distributed to stakers is now 20x more than OHM staked, securing >50,000% APY for the next six months at least.

OlympusDAO OHM
Source: Dune Analytics via OlympusDAO

OlympusDAO Liquidity On The Rise

Additional data points towards a liquidity accumulation on the protocol. The pool for trading pairs DAI/OHM and OHM/DAI have surged and gone from $3 million at the protocol’s launch to $28 million, at the time of writing. 83% of the pool’s liquidity is treasury owned, as the Team clarified. They added the following:

This ownership is to the point that external LPs should feel quite comfortable deploying into the pool. A significant risk on the part of a liquidity provider is that everyone else to pulls and they end up holding the bag. This risk is minimized significantly when the protocol holds a majority share.

Created as an algorithmic currency protocol, OlympusDAO has created a mechanism that employs asset backing as a supply constraint. Their native token OHM is minted by the liquidity provided in DAI or OHM-DAI LP send to the protocol. As anonymous user “Shadow” explained, the protocol has been designed to protect its investors:

OlympusDAO preserves your purchasing power by rebasing your staked OHM. Rebasing is nothing other than minting new OHM which is paid to the stakers. The rebase is shown as a % increase of the staked OHM per epoch (8h). The APY is just the auto-compounded rebase over a year.
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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