Agora Insights — Olympus Community Weekly Newsletter — Saturday 6 November 2021

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

*Moving forward, Agora Insights will be released every Friday.*

Summary

  • Editorial — Zeus Ponders Market Cap Ratios
  • Numbers at a glance — 56 Thousand Ohmies, Olympus Pro Partners Adding Value, $700 Million Treasury

Editorial — Zeus Ponders Market Cap Ratios

Given that OHM’s market cap has trended sideways over the past two weeks, Zeus decided to weigh in on the relationship between Market Cap and several other metrics: Treasury Market Value, Liquidity, and Treasury Risk Free Value (RFV).

https://twitter.com/ohmzeus/status/1456392521395884038

As Zeus explains, the ratio of Market Cap to Treasury MV/RFV/Liquidity going down actually means stronger liquidity, stronger backing, and likely stronger stability for the protocol in general, even though it may not be the best outcome for our bags.

Numbers at a glance — 56 Thousand Ohmies, $740 Million Treasury, Olympus Pro Partners Adding 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: 56,418 (+11,638)

  • October 19: 36,928
  • October 26: 44,780
  • November 5: 56,418

To the new Ohmies: Welcome! :)!

2. Market Value of Treasury Assets: $746,059,227

  • 7-day change: +$24,442,676(+3.4%)
  • 30-day change: +$398,033,883 (+114.4%)

The Market Value of Treasury Assets shows the current market rate of all of the assets held within the Treasury.

3. Risk Free Value of Treasury Assets: $168,296,342

  • 7-day change: +$11,522,296 (+7.4%)
  • 30-day change: +$86,350,575 (+105.4%)
  • RFV Per OHM: $44.87
  • Based on current circulating supply of 3,750,369

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. Olympus Pro Treasury Holdings: $467,398

  • 7-day change: +$108,290 (+30.2%)
  • 30-day change: +436,352 (+1,405.5%)
  • 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.

5. Protocol Weekly Revenue (7-day rolling average): $93,647,274

  • 7-day change of -8.6%
  • 30-day change of +71.1
  • Annualized rate (using 7-day MA): $4,883,036,430

6. Liquidity Provider Fees

  • Total LP Fees Generated: $14,492,161
  • $1,680,820 in fees generated in one week!
  • Week-over-week growth of +13.1%

Via: Dune Dashboard

Olympus has taken in over $14.49M 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.

7. Current Runway: 403 days

At the current reward rate of 0.297%, Olympus can continue to distribute OHM rewards for 403 days even if it stops bringing in revenue. That’s over a year of runway and a -2 day increase over the past week.

If you need a recap on what runway is, check out this Twitter thread from @xh3b4sd.

8. Current Index: 29.919 OHM

The 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 sextupled your stack now to 6.503 OHM! OHM’s price today is around $906.02. Let’s find out what is your ROI:

  • Principal: $204.28
  • Return on 5 November: 6.503 * $906.02 = $5,891.85
  • Principal gain = $5,891 — $204.28 = $5,687.57
  • ROI = ($5687.57 / $204.28)*100% = 2784.2%

Investing in OHM back in the middle of June would give you about 27x 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 Agora Dispatch team.

OlympusDAO community run media — by Ohmies, for Ohmies