​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Saturday 28 May 2022

What’s Up, Ohmies!!

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

Summary

  • Market Highlight — Inverse Bonds & Volatility
  • OHM Numbers at a Glance

Market Highlight — Inverse Bonds & Volatility

As the Crypto market as a whole continues to nuke (just take a look at the “Around the Cryptoverse” chart below), OHM has continued to outperform almost every non-stablecoin asset in the top 200 (by market cap).

While strong relative performance is always nice, the overlooked metric that every Ohmie should be elated about is price volatility, which has been consistently low even as the Treasury team lowered Inverse Bond capacity from $600k to $363k per day. This stability will be THE value proposition for Olympus moving forward, as many have started turning their attention back to the future reserve currency of DeFi.

1-Week Return (sourced from Coingecko.com):

  • Governance OHM ($gOHM): +8.2%
  • Bitcoin ($BTC): -1.0%
  • Ethereum ($ETH): -9.5%
  • Defi Pulse Index ($DPI): -6.3% (holdings)
  • Degen Index ($DEGEN): -1.8% (holdings)

You can check out the entire Olympus Treasury Dashboard HERE.

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. **NEW** Inverse Bonds: $16,150,954 (915,587 OHM)

  • Daily Capacity: $363,000 (as of 27 May 2022)

Inverse Bonds allow OHM holders to swap their OHM for stablecoins, such as DAI, at a slight discount (bonders receive slightly more value as an incentive). The goal of Inverse Bonds is to provide stability to the price of OHM when it falls below backing.

3. OHM Liquid Backing: $13.75 per OHM (Current OHM Price: $17.64)

The total liquid backing per OHM shows the amount of Liquid Treasury Assets per OHM token. Liquid Backing Assets are assets within the Treasury that are not vested or locked (such as pKLIMA & pBTRFLY).

Currently, ~78% of each OHM is backed by liquid assets within the Treasury.

4. Market Value of Treasury Assets: $351,521,339

  • 7-day change: +$54,669,888 (+18.4%)
  • 30-day change: -$10,871,793 (-10.3%)

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.

5. Olympus Pro Treasury: $921,849

  • 7-day change: -$26,194 (-2.7%)
  • 30-day change: -$1,110,213 (-53.2%)
  • 30-day revenue: $169,765 (annualized: $2,037,180)
  • Current Olympus Pro Partners: 49
  • 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.

6. Number of Ohmies: 80,693

  • 14 May: 81,376
  • 21 May: 80,883
  • 28 May: 80,693

7. Current Runway: 686 days

At the current reward rate of 0.1162%, Olympus can continue to distribute OHM rewards for 686 days even if it stops bringing in revenue. That’s almost two years!!

8. Current Index: 151.398 || Index Adjusted Price: $2,670.66

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:

The price of OHM on 15 June was about $204.28. If you staked one OHM since then, your stack would now be 35.222 OHM! OHM’s price today is around $17.64. Let’s find out what your ROI is:

  • Principal: $204.28
  • Value on 28 May: 35.222 * $17.64 = $621.32
  • Principal gain = $621.32 — $204.28 = +$417.04
  • ROI = ($417.04/ $204.28)*100% = +204.1%

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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