The Olympus Community Votes to Purchase More ETHs to Support OHM Tokens
On April 16th, it was reported that the Olympus community, the Algorithm Stable Coin Protocol, has voted on the OIP-137 proposal to purchase more ETHs to support OHM tokens. The OI
On April 16th, it was reported that the Olympus community, the Algorithm Stable Coin Protocol, has voted on the OIP-137 proposal to purchase more ETHs to support OHM tokens. The OIP has established a new framework for its DAO finance, including gradually changing the treasury asset ratio to 75% stable currency and 25% directional exposure. Currently, it consists of approximately 79% stable assets and 21% volatile assets, which is expected to reduce stable currency exposure by approximately $25 million.
Algorithm stable coin protocol Olympus will purchase more ETHs to support OHM tokens
Introduction
On April 16th, the Olympus community, a popular algorithm stable coin protocol, has voted to purchase more ETHs to support OHM tokens. The community has been making recent strides to establish a new framework for its DAO finance through OIP-137, which includes changing the treasury asset ratio to 75% stable currency and 25% directional exposure.
What is the Olympus Community?
The Olympus community is a decentralized finance (DeFi) community designed to provide a stablecoin called OHM that can be used for purchases and as a reserve asset. The goal of OHM is to minimize the volatility present in the crypto market by maintaining a stable value.
Understanding OIP-137
OIP-137 is an Olympus Improvement Proposal aimed at improving the project’s treasury management by creating a new framework for its DAO finance. The proposal suggests that the Olympus treasury should move towards holding a larger amount of directional assets such as ETH in order to help stabilize the OHM token. The proposal also states that they plan to gradually move towards a treasury asset ratio of 75% stable currency and 25% directional exposure.
What is the current Asset Ratio?
Presently, the Olympus treasury predominantly consists of stable assets, which make up approximately 79% of the treasury asset ratio. The remaining 21% of volatile assets represent an exposure that is intended to benefit the community in the long term.
The Impact of Increasing the Asset Ratio
By reducing the stable currency exposure by approximately $25 million, the Olympus community can support OHM tokens and help to maintain a stable value. This plan will involve purchasing more ETHs to increase the directional exposure in the treasury.
Conclusion
The decision of the Olympus community to purchase more ETHs is a significant move towards stabilizing OHM tokens. The community’s decision to gradually change the treasury asset ratio will provide more stability and predictability to the DeFi market.
FAQs
1. What is the Olympus community?
The Olympus community is a decentralized finance (DeFi) community that provides a stablecoin called OHM.
2. What is OIP-137?
OIP-137 is an Olympus Improvement Proposal aimed at improving the project’s treasury management by creating a new framework for its DAO finance.
3. Why is the community purchasing more ETHs?
The community is purchasing more ETHs to increase the directional exposure in the treasury and to support OHM tokens.
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