MEXC () Live Price Data & Information
Olympus DAO (OHM) is an incredible DeFi project attempting to create a global stablecoin asset backed by crypto, not USD. Some stablecoins, such as DAI, already fit that description, so what makes Olympus DAO and its OHM token different? The Olympus DAO treasury. Ohms crypto Most of OHM’s value is subjective, but the price also has somewhat of a floor based on the value of the treasury. There are about 2,400,000 OHM tokens in circulation, and the treasury has $300m of total assets, which would put the value of each OHM token at minimum $125. Though that $300m contains a significant amount of OHM tokens, so we can also look at the “risk free value” (purely stablecoins) of treasury assets, which is around $61m.
Crypto ohm
Additionally, only the protocol can mint or burn OHM. This requirement guarantees that one DAI backs one OHM. So, the protocol will continually buy OHM when it falls below one and will continue until all sellers are exhausted if need be. Olympus DAO’s motto is “you can’t trust the FED, but you can trust the code.” What is the relative popularity of Olympus? Crypto Bitcoin’s 160% Rebound in 2023 Is a Gamble on ETF ‘Demand Shock’Smart Contracts and Decentralized Applications – Intermediate Crypto Knowledge Guide
Copyright © 2018 - 2023 Crypto.com. All rights reserved. Crypto 101 Handbook Olympus’ goal is to create a decentralized, transparent, and verification-backed digital currency. Its OHM token incorporates features that differentiate it from other stablecoins, with protocol participants assisting in the creation of OHM through either staking or bonding.
