​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Saturday 16 April 2022

What’s Up, Ohmies!!

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

Summary

  • Treasury Dashboard Highlight — Treasury Asset Breakdown
  • OHM Numbers at a Glance

Treasury Dashboard Highlight — Treasury Asset Breakdown

Understanding the segmentation of the Olympus Treasury is an excellent way to learn more about what the protocol is trying to achieve (Reserve Currency of DeFi) and how it intends to achieve it (backing, partnerships, incubating, etc.).

Find below a brief description of the asset categories within the Treasury:

  • Reserve Assets — Assets used to back OHM and maintain stability/purchasing power. This includes stablecoin holdings like DAI & Frax as well as ETH & BTC.
  • Protocol-Owned Liquidity — OHM owned by the protocol that is deployed as a part of trading pairs on various DEX’s. These assets earn trading fees and help ensure there is plenty of liquidity for OHM trading.
  • Strategic Assets — Assets that give Olympus a voice in the future of DeFi. These include holdings in Convex, FXS, TOKE, and more.
  • Olympus Branch — Assets received from “friendly forks” such as Klima & Redacted Cartel for which Olympus has symbiotic, positive-sum relationships.
  • Olympus Incubator — Assets received from protocols that have gone through the incubator process, such as Vesta Finance, JonesDAO, and FiatDAO.
  • Olympus Pro — Assets obtained from Partner Protocols using the Olympus Pro platform to own their own liquidity.

You can check out the entire Olympus Treasury Dashboard HERE.

OHM Numbers at a Glance

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:

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

1. A Peek Around The Cryptoverse

2. Market Value of Treasury Assets: $442,904,219

  • 7-day change: -$9,416,706 (-2.0%)
  • 30-day change: +30,615,985 (+7.4%)

The Dune Dashboard does not reflect the following:

  • $24.4m of vlCVX
  • $23.1m LUSD staked in Liquity Stability Pool
  • $20m DAI staked in AAVE
  • $10m DAI deployed on Rari Fuse
  • $2.8mil of TRIBE

The Market Value of Treasury Assets shows the current market rate of all of the assets held within the Treasury, excluding vested tokens. 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: $255,503,073

  • 7-day change: +$421,524 (+0.2%)
  • 30-day change: +$1,801,500 (+0.7%)

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 & OIP-63 as covered in the December 22nd edition of the newsletter.

OIP-18 Framework

4. Olympus Pro Treasury: $2,547,339

  • 7-day change: -$468,279 (-15.5%)
  • 30-day change: +$774,567 (+43.7%)
  • 7-day revenue: $73,169 (annualized: $3,804,788)
  • Current Olympus Pro Partners: 47
  • 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.

5. OHM Backing: $17.85 per OHM (Current OHM Price: $26.87)

The total backing per OHM shows the amount of Treasury assets per OHM token. Currently, ~67% of each OHM is backed by the Treasury.

Other Metrics:

  • Liquid backing per OHM: $16.37 (excludes locked tokens)
  • Risk-free backing per OHM: $12.35 (excludes all non-stablecoins)

6. Number of Ohmies: 83,303

  • 2 April: 83,710
  • 9 April; 83,303
  • 16 April: 83,011

7. Current Runway: 559 days

At the current reward rate of 0.1587%, Olympus can continue to distribute OHM rewards for 559 days even if it stops bringing in revenue. That’s over a year and a half!

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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OlympusDAO community run media — by Ohmies, for Ohmies

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