Olympus Price

What Is Olympus?

Olympus DAO (OHM) is a decentralized finance (DeFi) project with the aim of creating a policy-controlled financial reserve currency that's backed by crypto as opposed to USD. This platform is community-owned and censorship-resistant.

Olympus created OHM as a non-pegged reserve currency that should be less volatile when compared to standard cryptocurrencies. It’s also meant to be considered an alternative to USD and other fiat currencies. Instead of being pegged to a fiat currency, the OHM token obtains its value based on the treasury of assets that supports it. The Olympus DAO also sets parameters for the platform that help it maintain the token’s value. When OHM’s price is higher than its intrinsic value, more coins are minted. When its price is lower, OHM is burned. 

Olympus (OHM) Price

OHM was launched on Mar 24, 2021 at $384. In the following months, its price fluctuated significantly before settling at a relatively low range. For instance, just over a month after its launch, the token had reached a value of $1,415.26, its all-time high.

After its initial surge, OHM declined to a low of $165.08 by the end of May. The token would remain highly volatile over the next year or so. In early September 2021, OHM began its ascent. Toward the beginning of the month, its price was $312. Then, on Oct 14, just over one month later, it landed at its second-highest price of $1,334.36. It wasn't until the beginning of December that the price dropped significantly.

At the end of 2021, Olympus price dipped below $350. Soon afterward, it declined precipitously and was valued from $10 to $30. OHM spent the last few months of 2022 in the $8–$9 range. However, the token has been increasing in value consistently over the first few months of 2023, and OHM’s value on Jan 1, 2023 was $9.59. This price has increased to approximately $10.30 by mid-March 2023.

What Is OHM Used For?

Olympus is widely believed by crypto investors to be among the most intriguing experiments in DeFi. This platform is unique because it directly owns a treasury that's responsible for minting and selling OHM whenever the token is traded above one DAI. 

OHM is provided to crypto investors via a process known as bonding. Investors sell DAI, FRAX or a similar asset to receive discounted OHM. Users can also stake OHM, which reduces the OHM supply in the open market. This process adds value to the platform. Staking rewards are around 7.3% APY. While rewards were once advertised as being as high as 7,000%, Olympus has lowered them to make the platform more sustainable. These rewards also auto-compound at an interval of eight hours.

Olympus Pro was launched in 2021 to deliver bonds to certain partner protocols. These partners can then develop their own treasuries without needing to obtain capital via liquidity pools.

Olympus (OHM) Tokenomics

Olympus is currently trading at around $10.30, with a current circulating supply of 27 million tokens. The current market cap of Olympus is over $285 million and the 24-hour trading volume for OHM is right around $1.3 million. OHM has a fully diluted valuation of $290 million and a total value locked (TVL) of $237 million. The total supply and max supply are over 28 million OHM tokens.

Who Is the Founder of Olympus (OHM)?

While the identities of the Olympus founders have been kept secret, the anonymous accounts for the four primary founders are named Zeus, Apollo, Wartul and Unbanksy.

How to Store OHM

You can store OHM tokens in MetaMask, with more options available soon.