​​​​​​​Agora Insights — Olympus Community Weekly Newsletter — Sunday 1 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 — OHM Backing
  • OHM Numbers at a Glance

Treasury Dashboard Highlight — OHM Backing

While negative price action in the market sucks (and we’ve had no shortage of that so far this year), the concept of backing allows for a sense of comfort among most Ohmies, especially with the recent approval and implementation of the novel tool Inverse Bonds. Inverse Bonds allow the Policy team within the DAO to leverage Treasury funds to promote stability of OHM, which is a feature many Ohmies have been pushing hard for over the past several months.

As it currently stands, 82% of every OHM is backed by liquid assets within the Treasury (largest backing contributors listed below).

Olympus has continued to innovate regardless of market movements, which has shown the commitment of the DAO to push Olympus toward its goal to become the reserve currency of DeFi.

Below are the top sources of Liquid Backing within the Olympus Treasury:

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

1. Market Value of Treasury Assets: $368,168,873

  • 7-day change: -$50,472,245(-12.0%)
  • 30-day change: -$142,608,654 (-27.9%)

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.

2. Risk Free Value of Treasury Assets: $253,415,570

  • 7-day change: +$17,678,469 (+7.0%)
  • 30-day change: +$19,250,570 (+8.2%)

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

3. Olympus Pro Treasury: $2,080,470

  • 7-day change: -$480,830 (-18.7%)
  • 30-day change: +$174,828 (+8.4%)
  • 7-day revenue: $67,581 (annualized: $3,514,212)
  • 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.

4. OHM Backing: $16.81 per OHM (Current OHM Price: $20.48)

The total backing per OHM shows the amount of Treasury assets per OHM token. Currently, ~82% of each OHM is backed by the Treasury.

Other Metrics:

  • Risk-free backing per OHM: $13.36 (excludes all non-stablecoins)

5. Number of Ohmies: 82,235

  • 16 April: 83,011
  • 23 April: 82,715
  • 1 May: 82,235

7. Current Runway: 756 days

At the current reward rate of 0.1162%, Olympus can continue to distribute OHM rewards for 756 days even if it stops bringing in revenue. That’s over two years!!

8. Current Index: 132.938 || Index Adjusted Price: $2,722.57

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 30.903 OHM! OHM’s price today is around $20.48. Let’s find out what your ROI is:

  • Principal: $204.28
  • Value on 1 May: 30.903 * $20.48 = $632.89
  • Principal gain = $632.89 — $204.28 = +$428.61
  • ROI = ($428.61 / $204.28)*100% = +209.8%

Investing in OHM back in the middle of June would give you more than a 2x 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.

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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