Agora Insights — Olympus Community Weekly Newsletter — Friday 3 December 2021
Welcome to the Agora Insights — our data-driven newsletter — made by Ohmies, for Ohmies!
- Editorial — Take a Deep Breath and Zoom Out
- Numbers at a Glance — 80k Ohmies, $22M LP Fees, Treasury stability during volatility
Editorial — Take a Deep Breath and Zoom Out
If you believe that Olympus will become the Reserve Currency of DeFi, take a deep breath and ignore the short-term swings in price. While it can be easy to panic during drawdowns (especially if you fall into the mob mentality on Crypto Twitter), the market price of OHM has no correlation to what the Ohmies in the DAO are building for the future.
Stay calm, watch your leverage, and (3,3) on.
Numbers at a Glance — 80k Ohmies, $22M LP Fees, Treasury stability during volatility
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: 81,119 (+3,674)
- 19 November: 70,763
- 26 November: 77,445
- 3 December: 81,119
To the new Ohmies: Welcome! :)!
2. Liquidity Provider Fees Generated: $22,578,489
- $1,960,262 in fees generated in one week!
- $280,037 in average daily fees
- Week-over-week growth of +9.5%
Via: Dune Dashboard
Olympus has taken in over $22.5M 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.
3. Market Value of Treasury Assets: $820,542,932
- 7-day change: -$7,877,720 (-0.9%)
- 30-day change: +$107,224,311 (+15.0%)
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.
4. Risk Free Value of Treasury Assets: $185,229,105
- 7-day change: +$6,327,082 (+3.5%)
- 30-day change: +$20,587,071 (+12.5%)
- RFV Per OHM: $34.24
- Based on current circulating supply of 5,410,263
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.
OIP-18 Framework (click HERE to view the Proposal)
5. Protocol Owned Liquidity: $654,249,094
- 7-day change: -$15,336,321 (-2.3%)
- 30-day change: +$90,677,786 (+16.1%)
Via: Dune Dashboard
Olympus owns over $650 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.
6. Olympus Pro Treasury Holdings: $509,218
- 7-day change: +$38,695 (+8.2%)
- 30-day change: +$22,202 (+4.6%)
- 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.
7. Current Runway: 378 days
At the current reward rate of 0.297%, Olympus can continue to distribute OHM rewards for 378 days even if it stops bringing in revenue. That’s still over a year of runway despite the -4 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: 41.267 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:
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.