Building an EconOHMy

6 min readJan 26, 2022

Olympus’ journey is one that will be written in the history books. In March 2021, the first foundational brick of Olympus was laid in Discord. Olympus has since become one of Web3’s most revolutionary protocols, reshaping Decentralized Finance as we know it. Olympus’ mission to position OHM as crypto’s premiere decentralized reserve currency aims to give everyone in the world a fair chance at achieving economic opportunity in a permission less and transparent manner. Along the way, we found much more.

Our vision continues to resonate across the globe and consistently gathers the most lively, welcoming, and hardworking personalities in the industry. The vision has always, and continues to be, a community-owned financial system. We continue to be blown away by the love and support that our community provides to see this mission through. This powerful community is responsible for amassing an ever-growing treasury of valuable assets that has snowballed into amazing partnerships, new products, and helpful services.

Now, it’s time to continue pushing the boundary by combining our original thesis, with all of the valuable lessons learned along the way, into a seamlessly integrated ecosystem.

It’s time to build the econOHMy.

The (Purchasing) Power of Olympus

When creating crypto’s decentralized reserve currency, one has to not only think about how it will operate but must also think about the ecosystem that it will operate within. It is a symbiotic relationship. Put more simply, the goal is to demonstrate to the greater DeFi ecosystem that OHM has real purchasing power and is backed by value.

For example, take the purchasing power of the world’s current reserve asset:

Source: Visual Capitalist

Not very inspiring, is it? On the flip side, Olympus is continually focused on powering up the treasury to ensure that #OHMisBacked. By creating a system with crypto-backed assets, valuable partnerships, usability across DeFi, and carefully managed tokenomics, Web3 users can feel confident that their OHM has real and persistent value. Not to mention that diamond-handed nature of the treasury and wide array of partnerships that hold OHM in their treasuries as well. Probably nothing.

This year we will expand on the efforts to preserve OHM’s purchasing power and drive its use as a trusted backing. We are focused on developing an interconnected econOHMy that enables Ohmies to utilize OHM in a variety of unique and powerful ways.

The purpose of the treasury is to ensure that prosperity and opportunity always exists at Olympus.

Pillars of Growth

It goes without saying, one of our core values is to build an inclusive community, to welcome those outside the Olympus ecosystem equally. The whole point of our mission is to onboard the masses to a welcoming digital financial system. Velocity of currency creates an economy; the more capital flowing through our econOHMy the more it will grow. The approach here is the same we’ve always had — if we build it, they will come.

Our goal is to continue to release outstanding products and services that inspire new users to join our econOHMy, with specific focus on building across three pillars: reserve, liquidity, and utility. Here’s just a taste of what we’ve cooked up:

The Reserve Pillar: responsible for OHM’s growth and utility

  • Olympus Pro: bonds-as-a-service
  • OlyZaps: one click zapping into staking and bonding
  • Bonding
  • V2 Bonds deployment
  • Hermes: tokenized bond market and yield curves

The Liquidity Pillar: responsible for increasing OHM’s liquidity and tradability

  • Going Multi-Chain
  • Proteus: the cross-chain initiative for gOHM partnerships and liquidity deploying on; Ethereum, Avalanche, Arbitrum, Polygon, Fantom, Moonriver, Terra
  • Cross-chain native: fully implemented Olympus branches with native tokens on all major chains
  • OHM Debtor function: Treasury asset + liquidity unlocked
  • OHM concentrated liquidity

The Utility Pillar: responsible for increasing mass-adoption of OHM

  • OlympusDAO: continue scaling with 150+ contributors
  • Olympus Give: yield redirection for perpetual no-loss effortless donations
  • Olympus Grants: funding Ohmies contributing to the ecOHMsystem
  • Olympus Incubator: funding new protocols that utilize or build on OHM or other Olympus products
  • Olympus Odyssey: a liquid secondary market for NFTs
  • Agora News Network: media for Ohmies, by Ohmies

The list continues to grow and does so within the econOHMy.

Web3 has become an increasingly popular term, and for good reason. People are beginning to realize the perils of the legacy internet’s centralized nature and are moved by the concept of a decentralized, user-owned and operated internet. We feel that Web(3, 3) will spark an imaginative exploration of crypto-native creations that will have a home in the econOHMy, like Olympus Odyssey, the Ohmie NFT platform.

A Place to Call HOHM

Not only has Olympus been fortunate to create a wonderful community, but we have been blessed to collaborate with some of the top projects, founders, contributors, anons, and other participants that we get to call our frens.

Another theme for this year is to double down on cooperation in the econOHMy. Below are the core partners we’ve had the pleasure of working with and excited to continue expanding utility in the econOHMy:

Frax, Klima DAO, Redacted Cartel, Lobis, Rome, Alchemix, Dopex, Inverse, Tokemak, Umami Finance, Debt DAO, Vesta, Volt, Liquity, Phantom DAO, Prime DAO, Spirit Swap & Fiat DAO.

To kickstart the year, we recently announced the Olympus Incubator with the goal of cultivating the econOHMy through the funding of new protocols that utilize or build on top of OHM or other Olympus products. This grants a dual benefit, building our treasury while bootstrapping support for new initiatives with the best community in crypto. Speaking of grants, we are also launching The Olympus Grants Program to projects & contributors that directly advance the ecOHMsystem in the areas of Education, Infrastructure, and Utility.

There’s also Olympus Give, which allows stakers to redirect their rebases either to pre-selected Olympus Give causes or to any wallet of their choosing (e.g. a friend or family member). Through this, we can start to reverse the perception of DeFi being purely greed driven with negative environmental consequences. This will be important for the long term health and growth of not only our community, but the entire industry. Those who choose to donate will be helping to protect the community at large. Plus, this is not wishful thinking. In fact, it is already happening, as some of our partners have already surpassed their goals. We look forward to onboarding new ones and looking for new use cases for Olympus Give that will expand the options to make OHM work for others in Q1 of 2022.

We have also outlined our plan for Olympus Pro in 2022 to allow DAOs and projects to further take control of their destiny through protocol-owned liquidity. Olympus has already helped projects bond >$45,000,000 in liquidity and have produced >$2,000,000 in revenue for the treasury from our current OP roster:

  • Ethereum: Angle Protocol, StakeDAO, BanklessDAO, BarnBridge, Botto, BlackPool, DivineDAO, Everipedia, FiatDAO, Float Protocol, Gro Protocol, Ichi Inverse, Keep3r Network, KeeperDAO, mStable, Pendle, PoolTogether, Premia, Sandclock, ShapeShift, Synapse, THORSwap & Unslashed Finance.
  • Avalanche: BenQi, Growth DeFi, Pangolin & YieldYak.
  • Fantom: LiquidDriver, Scream, SpiritSwap & Spooky Swap.
  • Arbitrum : GMX, Treasure

This year will be more of all the good stuff — more partners, more chains and L2s, and more bond flexibility with innovations like V2 Bonds and Permissionless Olympus Pro. We can’t wait to share all of the partners we have lined up and excited to see what new frens will join the econOHMy.

Climbing the Mountain

The past year has been a wild ride at Olympus and we would not have had it any other way. As we continue to strive to create the most frictionless and welcoming digital economy in the world, 2022 will be another year of growth, innovation, and building. The best community on the web has turned the game theory of (3, 3) into a mindset of helping one another succeed. There will without a doubt be challenges and naysayers along the way, but that all comes with the territory when you combine radical ideas that impact the world. Through education and patience we will turn those naysayers into true believers of our vision and fellow patrons of our econOHMy!

This journey may not be an easy one, but people don’t seek to climb Mount Olympus because it is easy; They climb because they seek the best for themselves and for their fellow Ohmie.

See you at the top.

About OlympusDAO

Olympus is a decentralized financial reserve protocol that provides sustainable compounding interest through its community-owned and protected treasury.