What is OHM token?
OHM is the algorithmic reserve currency of OlympusDAO.
What is OHM token used for?
- Sell for stablecoins as bond
- Stake for yield
What is OlympusDAO?
OlympusDAO is a protocol for an algorithmic reserve currency backed by other assets in a treasury. All controlled by a DAO.
How does Olympus work
OHM is backed by assets in the Olympus treasury (DAI and other assets).
- When the price of OHM drops below the value of the assets the protocol buys back OHM and burns it.
- Inversely when the price of OHM goes above the value of the treasury the protocol mints more OHM and increases the total supply.
Treasury: Backs the OHM price.
Stake: Token holders can stake their OHM for sOHM to earn high APY (currently 8000%). sOHM is tradeable and can be used in other DeFi protocols.
Bond: Buy OHM with assets at a discount to the current market price of OHM. Bonds are vested.
Stakers of Sushiswap LP-tokens can also earn rewards in OHM.
Read more about the game theory here.
Tokenomics OHM token
Total supply: No cap on supply
Current supply: 3,987,278.725727017