I’ve been a gotchi gaang member since early January… it’s definitely a lifestyle… guys, anyone here already staking OHM on olympusdao.finance?
If not, listen carefully, for this is some real ebic shit going on which you do not want to miss any aalpha on!
Olympus DAO (please read documentation and DYOR) is a new type of algorithmic reserve currency wholly controlled by the DAO, with the intention of providing a real alternative to BTC as a store of value as well as creating a non pegged independent algorithmic stablecoin that will become a standard for the crypto verse.
While this is quite ambitious you can already enjoy the fruits of the 3,3 strategy and stake your OHMs to get insanely juicy rewards currently at 18000% APY… unseen anywhere else on crypto…
Each OHM is backed up by DAI in the treasury, which already has more than 30m in it as of right now, its a young project just launched in March and off to a phenomenonal start.
What I want to throw on your desk today fellow gotchi gang fam, is the notion of potential collabs between Aavegotchi and Olympus DAO, namely creating a GHST - OHM LP as well as converting some of the gotchi treasury to OHM and staking it for massive returns for the gotchi treasury that can then be distributed among all gotchi holders via airdrops etc just as another earner for all gotchi owners which will increase the intrinsic value of having a gotchi.
There are quite a few possibilities for collabs between gotchi and OHM and I would like you guys to jump on board and see what makes the most sense and the most returns for aavegotchi and at the same time increase the visibility of Olympus so more good folks can get involved and shape the future of finance as well as getting very juuicy rewards!
Looking forward to hearing your feedback on this one!
Please kindly take the time to read the whitepaper before throwing such accusations, and these high APYs are not forever… its up to the DAO to decide reward rate… https://docs.olympusdao.finance/
Dollar-pegged stablecoins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether. Users are comfortable with transacting using stablecoins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is a fallacy. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stablecoins.
OlympusDAO aims to solve this by creating a non-pegged stablecoin called OHM. By focusing on supply growth rather than price appreciation, OlympusDAO hopes that OHM can function as a currency that is able to hold its purchasing power regardless of market volatility
All I am hoping is that one enlightened fren or dev reads the documentation and their sheer brain size will allow them to comprehend the miracle that is OHM
OHM is cool - I’ve been 3,3 for a while, and the staking has paid off over the longterm, so far.
HOWEVER, I don’t see the collab potential between Aavegotchi & OlympusDAO.
First of all, most of the Aavegotchi action is on Polygon, and Olympus is on Eth mainnet. A GHST-OHM LP on Main doesn’t help GHST and putting the LP on Poly doesn’t help OHM (because OHM staking is on Main).
And moving Aavegotchi treasury to Main and putting it in OHM feels… risky.
as an ohmie and a aavegotchi farmer i dont see the interest in having something with the risk profile of ohm as a treasury asset but it does interest me as collateral type for haunt 2 gotchis potentially. imagine the ancient greek wearable possibilities. gotchis deserve togas.
