Olympus

OHM Rank #152

$20.25▲ 0.35%24h

Low $20.00High $20.33

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Market cap$302.47MRank #152

Fully diluted value$401.36M

Volume (24h)$31.7KVol / Mcap 0.01%

Circulating supply14.94MOHM

Total supply19.82M

Max supply∞no hard cap

All-time high$1,415.26Apr 24, 2021

All-time low$7.54Nov 26, 2022

What is Olympus?

Treasury-backed asset

Olympus began operating in March 2021. Its early contributors included the pseudonymous developer Zeus. OHM is backed by assets controlled by the protocol treasury. It has no fixed peg to a fiat currency. The treasury also holds liquidity positions that support open-market trading. This protocol-owned liquidity reduces dependence on continuously subsidizing outside liquidity providers.

Current monetary mechanisms

The former Range Bound Stability module is disabled. The Yield Repurchase Facility instead uses treasury yield for OHM purchases. The Emissions Manager offers new OHM when its market premium meets the configured threshold. Sales bring additional reserve assets into the treasury. Governance can adjust the monetary parameters. OHM supply therefore responds to protocol operations rather than a fixed issuance ceiling.

gOHM and borrowing

Wrapping an OHM position produces gOHM, the governance representation used for proposals and votes. gOHM also serves as collateral for Cooler Loans. Those loans provide access to treasury-backed borrowing under protocol-defined terms. The original rebasing reward mechanism has ended.