The Agora Dispatch — Olympus Community Weekly Newsletter — Wednesday 9 February 2022
Welcome to the Agora Dispatch — an Olympus community-run newsletter — made by Ohmies, for Ohmies!
Summary
- Editorial — The first of many
- Olympus Pro Recap: Jan 2022
- OIP-78: Execute DAO Swap with Fei Protocol
- Sherpa Library — gud resources
- Odyssey Partners: Heroes of Olympus
- January 2022 Treasury Report
- Ohmies of the Week — Kalius (feet,only)
- Twitter Thread — Asfi on 1billy bonded
- Meme of the Week — Zeus of 577 + alphaleak
- State of the DAO — Weekly Update
- Opportunities to Contribute — Join Us
Editorial — The first of many
We saw the launch of our incubatee Vesta this week. They are a stablecoin borrowing platform native to Arbitrum — this brings low transaction cost and 0% interest borrowing against gOHM for the first time.
Vesta charges a one-time 1.25% fee when minting and then the user never has to pay interest again. Depositing minted VST stablecoin to the gOHM stability pool on the Vesta platform is currently 41% apy.
Olympus owns 6% of the VSTA governance token which is worth about $35 million at the time of writing.
This is the first — but there are many more to come!
Olympus Pro Recap: Jan 2022
We were pleased to see that in Jan — Olympus Pro reached its highest-grossing month since the program was launched — with around $850,000 in revenue. It continued picking up new protocols onto the platform with another seven coming onboard and three previous partners returning for new programs. We also saw the launch of NFT bonding with Paragons DAO launching through an initial bond offering taking in Parallel NFT cards.
You can read the full recap from the Olympus Pro team here.
OIP-78: Execute DAO Swap with Fei Protocol
Our old friends over at Rari have put in a good word for us at the newly formed Rari/FEI combined protocol and they now want to do a DAO swap for $2 million TRIBE governance token for OHM.
Rari is famous for their Fuse pools and FEI has developed a stablecoin that can be redeemed for its protocol-controlled value.
Read more details about the swap here.
Sherpa Library — resources
Don’t forget to check in from time to time over at the Sherpa Library — a hub for deep-dive articles for Ohmies.
Most recently Bowtiednaga did a write-up on some of the capital gains considerations Ohmies might have when considering their gOHM — check it out here.
Odyssey Partners — Heroes of Olympus
Odyssey is starting to tease out some of their partners most recently for the upcoming game Halls of Olympia.
They had a limited release of three special hero NFTs which will have special abilities in-game for their owners. They went for about 5 ETH a piece you can view them here.
The game launches in the third quarter of 2022 and has been developed by a team of developers coming from Chainlink and Microsoft, among others. You can read more about the game here.
January 2022 Treasury Report
The latest Treasury report was released for January 2022 and it didn’t disappoint. Olympus has generated $44M of revenues through bonds, trading fees, and Olympus Pro, and the RFV reached $230M, with a 12% MoM growth. Additionally, Olympus reached an important milestone of 1 billion in total revenue.
The Treasury team is working on launching a new treasury dashboard to provide more transparency and improve the available data and metrics.
Read more details of the report on Olympus forum.
Twitter Thread — 1Billy Bonded
We’ve had a rough January Ohmies but when we look back we can marvel at our journey. One year ago, we did not exist and today, we have touched the 1 billion USD value bonded into Olympus — while this isn’t currently reflected in the treasury value because of the recent volatility it bodes well for our future.
Meme of the Week — Zeus of 577
This week’s Meme of the Week is from el Capitan and is a playful reminder that Zeus never rests to make Olympus the decentralized reserve currency. Watch out for a paper we hear he is releasing on bonds in the coming days — we are told it will change the course of Olympus.
Ohmie of the week — Kalius (only,feet)
This week’s Ohmie of the Week is Kalius — known for his warm manner and (sometimes crass) humor — he is able to bring a sense of place to Olympus like no other Ohmie.
Usually a staple of the off-topic channel — he has taken to twitter and is on day 11 of daily videos in a series he calls $0 to $1mm (content warning on these)
His straight-talking manner and dedication to the Olympus community — single him out as a particularly deserving Ohmie of the Week — congrats Kalius!
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.
