OlympusDAO Ω ($OHM) is Using Community-governed Monetary Policy to Reach a Lofty Goal.
OlympusDAO is tackling one of the greatest challenges of the crypto ecosystem — Unpegging DeFi from fiat currencies — through a DAO-governed treasury that’s expanding quickly and creating the right participation incentives to keep the gods happy.
OlympusDAO gained some traction on social media due to the incredibly high APY associated with the protocol.
Naturally, at this early stage of the project, much is uncertain, and one can detect the growth marketing hype from a mile away (looking at those shiny new OHMies NFTs), and we don’t want to get caught up in the fact that Mark Cuban owns a small stack.
Some points worth exploring before “aping in” would include the difference between APR and APY and looking under the hood to see what’s running this DeFi engine.
The DAO’s governance manages the monetary policy of OlympusDAO and its token $OHM, which is a reserve currency backed by a treasury of assets (DAI, FRAX, OHM-DAI SLP, OHM-FRAX LP, and SUSHI rewards from the OHM-DAI SLP; LP staking rewards will soon get an upgrade via DAI Bonds.)
