Agora Insights — Olympus Community Weekly Newsletter — Friday 28 January 2022
What’s Up, Ohmies!!
Welcome back to the Agora Insights — our data-driven newsletter — made by Ohmies, for Ohmies!
- Editorial — Altruistic Ohmies (Olympus Give)
- Numbers at a Glance — Current OHM Backing, OP Chugging Along, Broad-market downturn hurts the Treasury
Editorial — Olympus Give
Feeling altruistic?? Olympus Give is a new initiative, powered by Olympus, that allows staked Ohmies 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).
Give will allow Ohmies to use their (3,3) rewards for good, without forcing them to dip into their underlying OHM stack. We at Agora believe this initiative will be a large contributor to the long-term growth and health of the Olympus Community.
For more info, check out this article posted by the OlympusDAO official account: Olympus Give Medium Article
Olympus Give Metrics (credit: @dgecaser Dune Dashboard)
*Note: Olympus Give is currently only available to sOHM holders*
Numbers at a Glance — OHM Backing Review, OP Chugging Along, Broad-market downturn hurts the Treasury
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: 86,059 (-1,699 in the past week)
- 14 January: 89,238
- 21 January: 87,758
- 28 January: 86,059
2. OHM Backing: $38.65 per OHM (Current OHM Price: $62.71)
The total backing per OHM shows the amount of liquid Treasury assets per OHM token. Currently, 62% of each OHM is backed by the Treasury.
3. Olympus Pro Treasury Reserves: $1,751,890
- 7-day change: +$68,120 (+4.0%)
- 30-day change: +$566,876 (+47.8%)
- 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.
4. Liquidity Provider Fees Generated: $36,556,055
- $804,280 in fees generated in one week.
- $114,897 in average daily fees straight into the Treasury
- Week-over-week growth of +2.3%
Via: Dune Dashboard
Olympus has taken in over $36.5M 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.
5. Market Value of Treasury Assets: $463,773,553
- 7-day change: -$47,816,894 (-9.3%)
- 30-day change: -$266,388,729 (-36.4%)
- 3-month change: +$35,861,192 (+8.4%)
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: $233,998,845
- 7-day change: +$1,492,878 (+0.6%)
- 30-day change: +$20,984,062 (+10.3%)
- 3-month change: +$53,765,496 (+29.8%)
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.
8. 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.