Agora Insights — Olympus Community Weekly Newsletter — Friday 26 November 2021
Welcome to the Agora Insights — our data-driven newsletter — made by Ohmies, for Ohmies!
- Editorial — Cross-chain liquidity will change the game
- Numbers at a Glance — 77k Ohmies, Treasury Assets close in on $1 Billion Market Value and $200 million Risk-Free Value
Editorial — Cross-chain liquidity will change the game
With multiple OHM forks popping up on every different chain, there is no question that demand for OHM is strong regardless of user location. With the continued maturation of Olympus Pro and the upcoming rollout of Proteus (OIP-45), Olympus will begin seeding liquidity in ten chains including Avalanche, Fantom, Polygon, Solana, and Terra.
As our good fren (and co-host of Agora Spaces) JSon (@quasicypher1) points out in his tweet below, the cross-chain efforts do not end at Olympus Pro and Proteus. The mission for Olympus to become the Reserve Currency of DeFi will include owning the deepest liquidity for every major pair and asset on every Decentralized Exchange. If achieved, Olympus would solidify itself as one of the most important protocols in DeFi and Crypto in general.
Numbers at a Glance — 77k Ohmies, Treasury Assets close in on $1 Billion Market Value and $200 million Risk-Free Value
As we do each week, we returned to Delphi to gather up the latest protocol data and metrics.
You can access all of the enclosed charts and data at the wonderful Olympus Dune Analytics page HERE (curated by the legendary Shadow). Please read on for this week’s numbers at a glance:
1. Number of Ohmies: 77,445 (+6,682)
- November 12: 63,145
- November 19: 70,763
- November 26: 77,445
To the new Ohmies: Welcome! :)!
2. Market Value of Treasury Assets: $828,420,652
- 7-day change: +61,364,965 (+8.0%)
- 30-day change: +$204,113,169 (+32.7%)
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.
3. Risk Free Value of Treasury Assets: $178,902,023
- 7-day change: +$4,046,909 (+2.3%)
- 30-day change: +$30,275,314 (+20.3%)
- RFV Per OHM: $35.95
- Based on current circulating supply of 5,932,747
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 as covered in the August 18th edition of the newsletter.
4. Protocol Owned Liquidity: $669,585,415
- 7-day change: +$97,045,167 (+16.9%)
- 30-day change: +$170,350,771 (+25.4%)
Via: Dune Dashboard
Olympus owns almost $700 million across the various trading pairs listed above. Owning this liquidity allows the protocol to collect revenues and fees resulting from trading activity on said trading pairs. In addition, the ownership of liquidity can help dampen volatility during abnormal market conditions.
5. Olympus Pro Treasury Holdings: $470,523
- 7-day change: +$28,779 (6.5%)
- 30-day change: +$163,151 (+53.1%)
- 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.
- While relatively small currently, the mutual benefit received by both Olympus and the partner protocols far exceeds the amount of fees received.
6. Protocol Weekly Revenue (7-day rolling average): $48,224,407
- 7-day change of -9.7%
- 30-day change of -43.0%
- Annualized rate (using 7-day MA): $2,514,558,365
7. Current Runway: 382 days
At the current reward rate of 0.297%, Olympus can continue to distribute OHM rewards for 382 days even if it stops bringing in revenue. That’s still over a year of runway despite the -7 day decrease over the past week.
If you need a recap on what runway is, check out this Twitter thread from @xh3b4sd.
8. Current Index: 35.282 OHM
Current Index measures your current OHM balance if you had one OHM staked since the first epoch.
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, you would have more than septupled your stack now to 8.295 OHM! OHM’s price today is around $743.60. Let’s find out what is your ROI:
- Principal: $204.28
- Return on 26 November: 8.295 * $743.6 = $6,186.16
- Principal gain = $6,186.16 — $204.28 = $5,981.88
- ROI = ($5,981.88 / $204.28)*100% = +2,928%
Investing in OHM back in the middle of June would give you about 29x return today. Don’t underestimate the power of compounding.
9. 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.