Essentially, OHM powers the OlympusDAO, which allows users to buy the equivalent of crypto bonds. Users can buy OHM tokens at a discount in exchange for holding these tokens for a specified period.
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Olympus DAO Crypto Coin Forks & Staking Twitter 2022 Is OHM .
Olympus DAO Crypto Coin Forks & Staking Twitter 2022 | Is OHM Algorithmic Stablecoin A Ponzi Risk? Someday, it may form the backbone of the entire DeFi system. Money is the only thing that matters at the moment though.
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Olympus is a protocol that is responsible for the issuance and management of a fully backed, algorithmic, free-floating stable asset, OHM. From the docs (10-7-2021): "The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stablecoins.
OHM is designed to grow in value. OHM is backed by an ever-growing, income-generating treasury. We’ve created a currency that is able to constantly grow purchasing power despite market conditions. Liquidity Protected. Olympus LP is owned and protected by Olympus itself.
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OHM is a decentralized backed digital currency controlled by its token holders and governed as a decentralized autonomous organization (DAO). Its goal is to build a policy-controlled decentralized currency that can function as a global unit-of-account and medium-of-exchange currency. According to the project plan, Olympus sees other assets as inadequate: stablecoins suffer from inflation at the hands of central banks, and Bitcoin or Ether are at risk of price manipulation or too volatile to .
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Olympus (OHM) aims to become a decentralized reserve currency that is community owned, governed by a DAO, and backed by decentralized assets. The team designed OHM to be a stable reserve currency using economics force.
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Updated Jan 11, 2022 at 7:34 a.m. PST Greek hero (Shutterstock) Tokens of decentralized finance (DeFi) protocol Olympus (OHM) dropped as much as 32% in the past 24 hours as crypto traders moved.
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What Is Olympus (OHM)? Olympus is an algorithmic currency protocol with the goal of becoming a stable crypto-native currency. Though sometimes called an algorithmic stablecoin , Olympus is more akin to a central bank since it uses reserve assets like DAI to manage its price.
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