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What is the OHM token used for?

How the OHM token is used. OlympusDAO is a protocol for an algorithmic reserve currency backed by other assets in a treasury. All controlled by a DAO.

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

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