Agora Insights — Olympus Community Weekly Newsletter — Sunday 15 May 2022

What’s Up, Ohmies!!

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

Summary

  • Market Highlight — OHM Outperforms During Week of Carnage
  • OHM Numbers at a Glance

Market Highlight — OHM Outperforms During Week of Carnage

The fallout from the Terra Ecosystem collapse, paired with a bleak macro outlook in general, has wreaked havoc on the Crypto market over the past week. Virtually every asset saw extreme volatility and downside pressure: Blue chips, Alt Layer-1s, DeFi, NFTs, you name it.

However, OHM was able to stave off volatility extremely well, and has been one of the only Crypto assets in the market to generate a positive return despite many comparable protocols trading down -20% to -50%. With Inverse Bonds running at $600,000 per day and sentiment recovering, the stage is set for Olympus to recapture the narrative and show its value as a backed (but not pegged) reserve asset.

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

  • Governance OHM ($gOHM): +1.7%
  • Bitcoin ($BTC): -15.1%
  • Ethereum ($ETH): -21.5%
  • Defi Pulse Index ($DPI): -32.3% (holdings)
  • Degen Index ($DEGEN): -37.7% (holdings)

Numbers at a Glance

As we do each week, we returned to Delphi to gather 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. OHM Liquid Backing: $12.11 per OHM (Current OHM Price: $15.90)

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, ~76% of each OHM is backed by liquid assets within the Treasury.

3. Market Value of Treasury Assets: $307,203,451

  • 7-day change: -$52,219,815 (-14.5%)
  • 30-day change: -$136,004,707 (-30.6%)

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.

4. Risk Free Value of Treasury Assets: $213,456,364

  • 7-day change: -$36,973,600 (-14.7%)

**$50M of DAI Swapped with FEI as per OIP-92**

  • 30-day change: -$42,091,527 (-16.4%)

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

5. Olympus Pro Treasury: $974,238

  • 7-day change: -$1,181,670 (-54.8%)
  • 30-day change: -$1,372,817 (-58.4%)
  • 30-day revenue: $213,843 (annualized: $2,566,116)
  • 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: 81,376

  • 30 April: 82,235
  • 7 May: 81,938
  • 15 May: 81,376

7. Current Runway: 722 days

At the current reward rate of 0.1162%, Olympus can continue to distribute OHM rewards for 722 days even if it stops bringing in revenue. That’s almost two years!!

8. Current Index: 142.317 || Index Adjusted Price: $2,262.84

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:

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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