​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Friday 21 January 2022

What’s Up, Ohmies!!

Welcome back to the Agora Insights — our data-driven newsletter — made by Ohmies, for Ohmies!

Summary

  • Editorial — Hang in there (re-sourcing conviction)
  • Numbers at a Glance — Volatility hitting the Treasury hard, RFV Stable, LP Fees Surging

Editorial — Hang in there Ohmies

As we continue to battle some nasty price action, it has become crucial to determine where our conviction comes from.

The easy path is to succumb to the FUD and capitulate.

The hard path is to look hard at what Olympus is building and decide to stay allocated regardless of price action or macro events. It’s up to YOU anon, we at Agora have chosen our path… 3,3.

Numbers at a Glance — Volatility hitting the Treasury hard, RFV stable, LP Fees Surging

As we do each week, we returned to Delphi to gather up the latest protocol data and metrics. Important Reminder: The Ohmies are finishing up migration to v2!! This will affect revenue-related charts as bonding has been halted during the migration.

You can access all of the enclosed charts and data at the wonderful Olympus Dune Analytics page HERE (curated by the legend Shadow).

Please read on for this week’s numbers at a glance:

1. Number of Ohmies: 87,758 (-1,480 in the past week)

  • 21 December: 86,045
  • 14 January: 89,238
  • 21 January: 87,758

2. Olympus Pro Treasury Reserves: $1,683,770

  • 7-day change: -$328,860 (-16.3%)
  • 30-day change: +$771,225 (+84.5%)
  • Current Olympus Pro Partners: 30
  • The Olympus Pro Treasury holds the tokens of partner protocols that are utilizing the Olympus Pro platform. The tokens are generated via a 3.3% fee charged for use of the platform.

3. Liquidity Provider Fees Generated: $35,761,775

  • $4,516,665 in fees generated in one week!
  • Including $1,294,353 in ONE DAY
  • $645,237 in average daily fees straight into the Treasury
  • Week-over-week growth of +14.4%

Via: Dune Dashboard

Olympus has taken in over $35.7M in LP fees to date. It is worth noting that these LP fees are collected in both OHM and the stable asset (either DAI or FRAX) at 0.25% per trade on Sushiswap and 0.30% on Uniswap.

4. Current Index: 69.529 OHM || Index Adjusted Price: $5,722.93

The Current Index measures your current OHM balance if you had one OHM staked since the first epoch. Index Adjusted Price (the price of gOHM) measures Current OHM Price multiplied by the Current Index.

The following table compares the difference in your current OHM balance based on your staking date:

The price of OHM on 15 June was about $204.28. If you staked one OHM since then, your stack would now be 16.333 OHM! OHM’s price today is around $82.31 (oof). Let’s find out what your ROI is:

  • Principal: $204.28
  • Value on 21 January 2022: 16.333 * $82.31 = $1,344.37
  • Principal gain = $1,344.37- $204.28 = +$1,140.09
  • ROI = ($1,140.09 / $204.28)*100% = +558%

Investing in OHM back in the middle of June would give you more than a 5.5x return today, even with the major retrace. The lesson here: DO NOT underestimate the power of compounding.

5. Market Value of Treasury Assets: $511,590,447

  • 7-day change: -$134,322,794 (-20.7%)
  • 30-day change: -$175,900,855 (-25.6%)
  • 3-month change: +$11,849,163 (+2.4%)

The Market Value of Treasury Assets shows the current market rate of all of the assets held within the Treasury. This value will be more volatile than Treasury Risk Free Value as it encompasses all assets in the treasury and not solely stablecoins.

6. Risk Free Value of Treasury Assets: $232,505,967

  • 7-day change: +2,901,629 (+1.3%)
  • 30-day change: +$36,632,158 (+18.7%)
  • 3-month change: +$101,900,017 (+ 78.0%)

As a reminder, when the supply growth of OHM outpaces the revenue inflow, RFV per OHM will drop — this is part of the motivation behind OIP-18 & the recently passed OIP-63 as covered in the December 22nd edition of the newsletter.

OIP-18 Framework

7. Macro numbers from around the Cryptoverse:

Opportunities to contribute — join us

To get involved with what is happening atop Mount Olympus, join the DAO Discord.

Once you are in, head to the #dao-start-here channel and read the instruction carefully so that you can get assigned a role.

Have any questions? Just ask in the #general-dao channel and a helpful Ohmie will appear to guide you along your path.

Keep it (3,3), till next week Ohmies — with love from the Olympus Agora team.

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OlympusDAO community run media — by Ohmies, for Ohmies

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