What is Olympus Dao?

So are the dollars in your pocket. If you haven’t heard about it, Olympus DAO is a decentralized finance (DeFi) protocol whose primary use case seems to be “making people extremely angry.”

Who founded Olympus?

Olympus was founded pseudonymously by “Zeus.” The operation team behind Olympus remains unknown. The intention is to give prominence to decentralization by emphasizing the team as part of the DAO. There are no CEOs, employees, and central authorities in the entire ecosystem. The entire operation is dependent on DAO governance.

Is olympusdao a copycat for Defi 2.0?

OlympusDAO’s protocol-owned liquidity model has been a catalyst for the DeFi 2.0 movement, and its success is inspiring copycats. At a $4B market cap, the project’s OHM token has vaulted into the 50th slot among digital assets as of Oct. 25 after going up over 200% in the last 30 days, according to Coingecko.

How does olympusdao work?

OlympusDAO acts as the distributor and manages the fully mortgaged and free-floating asset OHM. The workflow of OlympusDAO begins with its treasury’s revenue. OlympusDAO first controls the OHM supply by growing its treasury through bond sales and LP fees. The treasury will grow when users buy the bonds or LP tokens available on the platform.