​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Saturday 12 February 2022

What’s Up, Ohmies!!

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

Summary

• Editorial — Olympus and the Gartner Hype Cycle Theory
• Numbers at a Glance — Treasury Growth Humming Along, Runway > 600 days, OHM backing at 49%
• Olympus Give Update

Editorial — Olympus and the Gartner Hype Cycle Theory

Time and time again, new innovations in technology experience similar cycles of adoption: An explosive (but unsustainable) initial growth period filled with hype and speculation, followed by a sharp decline in adoption as users lose interest and begin to declare the technology or innovation “dead”.

Finally, for the innovations that survive this decline, the sharp drop in adoption is followed finally by a slower, but more sustainable growth period where the technology matures and cements it’s place in society.

This cyclicality is visualized easily by the Garnter Hype Cycle, which shows the typical adoption path of an innovative technology.

The Gartner Hype Cycle

In crypto, these effects tend to be amplified because interest in a certain technology or protocol is normally manifested through an individual or group using capital to show their interest, which makes the stakes much higher (adoptoooors have skin in the game).

Interest initially spikes as new investors chase returns without actually considering the merit of a given protocol, which leads to tons of pump and dumps, rug pulls, etc.

With that being said, there are many crypto innovations that have survived the initial wash out of adoption and have begun the steady growth phase, including Bitcoin/Ethereum, NFT’s, and OG Defi (“Defi Summer” protocols). The next wave of innovations to set to sink or swim are “Defi 2.0” protocols, including Rebase Tokens and VeTokens.

Now, let’s look at what happens when we overlay the Gartner Hype Cycle Graph on top of the $OHM Market Cap Chart…

Very interesting, but certainly NOT financial advice. (3,3)

Numbers at a Glance — Treasury Growth Humming Along, Runway > 600 days, OHM backing at 49%

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 these wonderful Olympus Dune Analytics pages:

• Shadow’s OG Olympus Dashboard
• Fluidsonic’s Olympus Lookout Dashboard
• Edgecaser’s Olympus Give Dashboard

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

1. Market Value of Treasury Assets: $493,949,115

• 7-day change: +$11,713,620 (+2.4%)
• 30-day change: -$131,077,962 (-20.9%)
• 3-month change: -$193,379,304 (-28.1%)

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.

2. Risk Free Value of Treasury Assets: $242,893,277

• 7-day change: +$7,171,842 (+3.0%)
• 30-day change: +$27,414,905 (+12.7%)
• 3-month change: +$72,417,356 (+42.5%)

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 Original Framework

3. Olympus Pro Treasury: $2,048,298

• 7-day change: +$98,308 (+4.8%)
• 30-day change: +$129,336 (+6.4%)
• Current Olympus Pro Partners: 38
• 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. Number of Ohmies: 85,662

• 28 January: 86,059
• 5 February: 85,698
• 12 February: 85,662

5. Current Runway: 641 days

At the current reward rate of 0.1587%, Olympus can continue to distribute OHM rewards for 641 days even if it stops bringing in revenue. That’s over a year and a half!

6. Olympus Give Update

• Total sOHM donated: 2,697.09
• 7-day change: +78.4 (+3.0%)
• Total value of donations: $208,323.23
• 7-day change: +$27,083.01
• Based on OHM price of $77.24

7. OHM Backing: $38.18 per OHM (Current OHM Price: $77.24)

The total backing per OHM shows the amount of liquid Treasury assets per OHM token. Currently, 49% of each OHM is backed by the Treasury.

8. Current Index: 80.763 OHM || Index Adjusted Price: $6,238.13

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:

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.