OHM was launched in March 2021 through a Discord offering and an initial decentralized exchange (DEX) offering (IDO). Users that joined the Discord early enough were able to purchase 141 OHM for a price of $4 per OHM. As many as 50,000 OHM were given out, and an additional 18,260 tokens were given through the IDO on SushiSwap.
Often referred to as algorithmic stablecoin, Olympus is somewhat more familiar to the central bank because it implements reserve assets (like the DAI) to manage the price. Its main goal is to reach price stability while at the same time maintaining a floating price (which is driven by the market). Its native token would be the OHM, which can be used to manage everything. Through the use of liquidity pools on Uniswap, transactions can be made with confidence that slippage will be kept at a minimum. That is, the protocol supplies most of the OHM liquidity to automated market makers like Sushiswap.
Step 4: How to Sell Olympus
If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. To start bonding or staking, purchase OHM and deposit your tokens at the Olympus app. Currently, 91.5% of the OHM supply is staked — a figure that’s likely one of the highest in all of cryptocurrency. The key point to remember about OHM is it’s intended to be a store of value — not a mere stablecoin. A store of value should maintain or increase in value relative to the principal investment. Olympus uses staking as a primary resource for accruing value to OHM to achieve store of value status.
When it finds the coin to be undervalued, it burns coins to increase the value of each coin. When it thinks the token is overvalued, it mints new coins to decrease the value of all coins. V2 migration introduces new features such as on-chain governance and auto-staking for bonds. Transitioning from sOHM V1 to gOHM allows for multiple bonds to be taken at one time, as opposed to one bond per vesting period as it was in v1. Partial liquidity will remain for v1 OHM while the migration is in progress. This provides sufficient liquidity for borrowers to close or move their borrowing position.
What is the goal of Olympus?
The world’s reserve currency has been the US Dollar for the past century. Since 1999, the Euro has been the secondary reserve currency. OHM currently ranks #2893 by market cap, falling over 2000 ranks since its price crash.
With a price of around $28 at the time of writing, the market cap is about $46 million. With long-term goals in mind, Olympus encourages their users, or Ohmies, to invest in OHM coin with patience in order to enjoy more attractive rewards in the future. You can store coins on exchanges after purchase but we recommend using a dedicated wallet for security and long term storage. They are the best choice for those storing a lot of value or planning to hold long term. It tries to be less volatile than traditional cryptocurrencies without being tied to any fiat currency.
Therefore, it is impossible to accurately predict the price of Olympus v2 5 years from now. It is impossible to predict what Olympus will be worth in five years. Therefore, it is impossible to accurately predict the price of Olympus 5 years from now. The (3,3) meme introduced by Olympus is also a topic that gained considerable attention on Twitter in late October 2021. The available strategies in the Olympus system are shown in the figure below for users’ reference.
How much I need to buy Olympus coin?
However, it is not durable and is susceptible to various hazards. Launched in Apr 2018, MXC is a centralized cryptocurrency comprar compound governance token exchange registered in Seychelles. It supports CNY, VND, USD, GBP, EUR, AUD deposit, and CNY, VND withdrawal.
Think of the Olympus system as similar to the gold standard — it uses a reserve of valuable assets to issue and back OHM tokens. Because of the very nature of the wallets in exchanges, they will be always online(„Hot Wallets” as we call them), therefore exposing certain aspects of vulnerabilities. A paper wallet is a type of free cold wallet, it’s basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe.
In this system, users can choose to lock up their tokens in LPs managed by a decentrazlied exchange. These tokens are used to ensure instant trades are possible without major price volatility, even if there is no buyer or seller immediately available. Users earn yield, or interest, for putting their tokens in a liquidity pool. Exchanges like Uniswap and Sushiswap have used liquidity pools to make crypto trading, especially with newer and smaller coins, much simpler in recent years. Users can also choose to stake OHM, which reduces the supply of OHM on the open market and creates value for the protocol.
Olympus v2 is trading on 2 cryptocurrency exchanges across 4 trading pairs. The most popular Olympus v2 pair is
where it has a trading volume of $ 216,608. You can trade
Olympus v2 with many fiat currencies including
and many stablecoins such as USDC, DAI. Crypto exchanges are where users can buy, sell, and convert different cryptocurrencies.
Below is a list of exchanges that offers to trade OHM in various market pairs, head to their websites and register for an account. Although Olympus did initially not have any use case beyond growing its treasury, it recently announced the launch of Olympus Pro. Whether you are holding a large or small quantity of Olympus tokens, you will need a suitable wallet to store them.
You can verify your identity by providing an image of yourself holding a legal identification card like your driver’s license or passport. There are also a few other requirements in the Know Your Customer (KYC) process you will have to complete. Your first attempt at purchasing Defi coin may appear challenging, but our step-by-step walkthrough on how to buy Olympus will demystify this for you. You will receive your Olympus tokens within seconds, and they will remain in your Trust Wallet until you decide to sell or move them. The guide below provides sufficient information on how to buy Olympus tokens within ten minutes. There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department.
We also gather additional information from different sources to ensure we cover all necessary data or events. The exchange offers three different wallets like MetaMask, Coinbase, and WalletConnect. So if you have these wallets and also got crypto in them, you can easily swap those coins for another cryptocurrency without any trouble.
This article covers all the Olympus tokens that are live as of 12/20/2021.
Owing to being backed by DAI, it can be said that the coin will not trade below its core value in the long run. If you want to invest in this project, you’ll need to understand how to buy Olympus, and this is what we address in this guide. Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the OHM/BTC or OHM/ETH or OHM/USDT trading pair and then place the order to buy those pairing cryptocurrencies. Crypto investors could be in store for another bear market, where crypto prices might crash. On the other hand, they could skyrocket and hit new all-time highs tomorrow.
- Find the OHM/BTC or OHM/ETH or OHM/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
- The key point to remember about OHM is it’s intended to be a store of value — not a mere stablecoin.
- More importantly, Pancakeswap stands out because it makes the process seamless and convenient whether you’re a veteran or a beginner.
- After clicking on it you will need to select the currency you want to pay.
However, you can also choose from other exchanges that list XMR, such as KuCoin, OKX, Huobi Global, Kraken and gate.io. The table below shows all exchanges where you can buy Olympus (OHM) crypto, such as Uniswap (v3), MEXC Global, Sushiswap, etc. For some exchanges there is a depth percent that shows how much liquidity is available, live bids two percent up or down from the current price.
Unlike traditional stablecoins, OlympusDAO uses a unique system to keep its value stable. The protocol mints new OHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. Olympus DAO created and manages the OHM token, which they envision as the reserve currency for decentralized finance.
All you need to do is click on the „Prices” option in the top menu bar and you’ll see a list of all the supported cryptocurrencies on Coinbase. To use a bank account, you’ll just need to select you back account, give Coinbase some information about the account, and then waiting for the account to be verified. If you already have a Coinbase account with your funding method setup, click here to skip to step three. Coinbase assumes that you are signing up for an Individual investment account so the next part of the sign up process deals with verifying your identity.
Furthermore, Coinomi has never been hacked since it was launched in 2014, which means you don’t have to worry about the safety of your coins. In addition, Ledger Nano X stores your Olympus tokens offline and lets you carry out all your sales and purchases with ease. This often comes to light when OHM tokens trade below the price of DAI. Because the protocol has 1 DAI held for every 1 OHM token, the sustainability of the project can be assured for a long period. Additionally, this means that people can invest in the project with minimal risks. Also, the protocol is responsible for burning or minting tokens, which makes for an adequate balance of interest in the ecosystem.