​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Saturday 7 May 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 Value & Market Cap
• OHM Numbers at a Glance

Treasury Dashboard Highlight — Treasury & Market Cap

Blood is in the streets and Bear Market vibes are evident. Macro headwinds are putting major downwards pressure on Crypto assets and, frankly, all risk assets. Now may be the time to focus on portfolio protection and general survival (kidding… kind of).

OHM has not been safe from the volatility, falling ~33% in Market Cap over the past 30 days. However, the Market Value of the Olympus Treasury has only fallen ~13%, due to the large war chest of stablecoins which have unfortunately been the best performing asset class in Crypto this year.

For comparison purposes (over the same time period) ETH has fallen 15%, Bitcoin has fallen 17%, the DeFi Pulse Index (DPI) has fallen 27%, and many other DeFi protocols that Olympus rubs shoulders with such as Tokemak, Tribe and Redacted are all down over 50%.

The strength of the Treasury and its ability to provide stability to the protocol will be a primary factor in Olympus achieving its long-term goals. The stronger the Treasury, the better its ability to bring value and stability to both the protocol itself and OHM holders.

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:

• 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. A Peek Around The Cryptoverse

1. OHM Liquid Backing: $15.39 per OHM (Current OHM Price: $17.25)

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, ~89% of each OHM is backed by liquid assets within the Treasury.

Other Metrics:

• Risk-free backing per OHM: $11.85 (excludes all non-stablecoins)

2. Market Value of Treasury Assets: $359,423,266

• 7-day change: -$8,745,607 (-2.3%)
• 30-day change: -$53,706,924 (-13.2%)

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: $250,429,964

• 7-day change: -2,985,606 (-1.1%)
• 30-day change: +$16,264,964 (+6.9%)

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: $2,155,908

• 7-day change: +$75,438 (+3.6%)
• 30-day change: +$99,390 (+4.8%)
• 7-day revenue: $52,443 (annualized: $2,727,036)
• 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.

5. Number of Ohmies: 81,938

• 23 April: 82,715
• 30 April: 82,235
• 7 May: 81,938

6. Current Runway: 751 days

At the current reward rate of 0.1162%, Olympus can continue to distribute OHM rewards for 751 days even if it stops bringing in revenue. That’s over two years!!

7. Current Index: 137.007 || Index Adjusted Price: $2,363.25

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 31.860 OHM! OHM’s price today is around $17.25. Let’s find out what your ROI is:

• Principal: $204.28
• Value on 7 May: 31.860 * $17.25 = $549.58
• Principal gain = $549.58 — $204.28 = +$345.30
• ROI = ($345.30 / $204.28)*100% = +169.0%

Investing in OHM back in the middle of June would give you more than a 1.6x return today, even with the major retrace. The lesson here: DO NOT underestimate the power of compounding.

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.

Keep it (3,3), till next week Ohmies — with love from the Olympus Agora team.