The Agora Dispatch — Olympus Community Weekly Newsletter — Thursday 12 May 2022

Welcome to the Agora Dispatch — an Olympus community-run newsletter — made by Ohmies, for Ohmies!

Summary

  • Editorial — Stay Safe, Stay Strong
  • Inverse Bonds set to $2mm for 24 hours to right the ship!
  • April Treasury & Policy Reports Released
  • Twitter Thread — On Inverse Bonds
  • Ohmie of the week — memeplex
  • Meme of the Week: USDCbull! (credit USDCbull)

Editorial — Stay Safe, Stay Strong

Just a short one this week Ohmies — given the turmoil in the markets — and then back to regular programming next week.

First off — we are feeling for all those out there who just experienced probably some of the worst days of their lives — you are loved and nothing lasts forever.

If anything the last days have shown us the desperate need for a decentralized reserve asset, backed by a basket of high-quality assets that are stored on-chain — OHM.

Inverse Bonds set to $2mm for 24 hours to right the ship!

The brutal (and, in our opinion, irrational) selling of OHM continues as we brace for another bearish week in the crypto. To counter this, the Policy team has been adjusting the bond capacities to match market demand — allowing Olympus to absorb irrational sells, add buy pressure to OHM and improve backing per gOHM.

If you are interested in purchasing inverse bonds, simply head to the Olympus bond page and check for any new availability. PS: Pls make sure the bond discount is positive.

April Treasury & Policy Reports Released

As they do each month, the diligent members of the Olympus Policy & Treasury teams have released the April Policy report to give Ohmies a bird’s-eye view as to the going-ons of Olympus’ treasury. Here are some highlights:

Policy

  • Inverse Bonds were launched, and the Treasury has bought and burned ~$1.7M worth of OHM since
  • Olympus Protocol-owned liquidity was reduced to a target size of 20% of the market cap, which is closer in-line with historical averages. This also increases the effectiveness of Inverse Bonds as buy pressure will have a greater impact on the price of OHM
  • The Policy Team is preparing a proposal to rebalance the Treasury by decreasing the amount of DAI and other stablecoins in favor of assets such as ETH & FEI

Treasury

  • Total Treasury assets fell about 20% to $410M in April as a wave of volatility hit the entire Crypto market
  • Despite the decrease in Market Value, the Treasury still raked in $10M of Revenue thanks to the steady income from Bonds, Liquidity, Olympus Pro and protocol investments
  • Olympus Treasury generated $8.7M net revenue from bonds

The Policy and Treasury reports are now merged, and will be released monthly here.

Twitter Thread: On Inverse Bonds

https://twitter.com/OlympusDAO/status/1524143153183404033

While inverse bonds are just the opposite of regular bonds, many Ohmies are still confused by how they work or their impact on the protocol. But the DAO never leaves the Ohmies behind. They are aware of this educational gap and have worked hard to close it. This short thread on inverse bonds represents one of the few efforts from the DAO, so hop in and acquaint yourself with some new knowledge.

TLDR: If you are looking to exit your position, use inverse bonds instead: you will be getting a better deal (provided the discount is positive) and helping the protocol by improving the backing of gOHM.

Ohmie of the Week — memeplex

A common site during community calls, Memeplex is known to get on community call stages with stylistic thought-provoking questions on protocol dynamics and exploration of creative solutions to problems that beget us.

Memeplex demonstrates the practical Ohmie that always wants to test and retest his understanding (and the DAO’s explanations) — in order to seek a better knowledge of Olympus.

Congratulations Memeplex our Ohmie of the Week!

Meme of the Week — USDCbull! (credit USDCbull)

This week’s meme of the week comes from the pseudonymous USDCbull account on twitter — reminding us, at least for a little while longer, that USD is king.

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

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OlympusDAO community run media — by Ohmies, for Ohmies

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