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Olympus Dao

OHM
Launched On
2021-03-12
ETH:
0x383518188c0c6d7730d91b2c03a03c837814a899
Price$123.83192423001438

Live Price & Chart

What is Olympus Dao (OHM)?

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. The goal is to achieve price stability while maintaining a floating market-driven price. The biggest difference between OHM and stablecoins like USDC is that OHM is backed but not pegged to a certain price. Technically, the price floor for OHM is 1 DAI, but practically a premium and the treasury value is added to the price. OHM differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues OHM to buy DAI and other assets and maintain a treasury. This mechanism is similar to FEI; the key difference is that FEI keeps a dollar peg, and Olympus allows its token to float.

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Olympus Dao Rank
Overall rank28851
Daily rank13
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