Is Olympus Dao a scam?

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.” Skeptics argue that its core functionality – a staking scheme with an annual percentage yield (APY) of 7,000% via new OHM token mints – is unsustainable to the point of being fraudulent.

What is Olympus Dao (ohm)?

What is Olympus DAO (OHM): A Rising Star in DeFi or a Ponzi Scheme? Launched in March 2021, Olympus DAO is a decentralized finance ( DeFi) infrastructure that aims to provide a transparent and stable crypto ecosystem for its users. OHM trades at $28 per token with a circulating supply of 1.66 million for a total market cap of $46 million.

Could Olympus Dao Be the foundation of the Defi 2.0?

In our eyes, Olympus falls short of one of the pillars of blockchain tech, which is the trustless, decentralized environment. Nevertheless, Olympus DAO could well be the foundation of the DeFi 2.0, an ecosystem without stablecoins and rogue LPs.

Why is Olympus Dao a good investment?

It allows users to opt in to fund projects that are genuinely trying to make the world a better place. Olympus DAO has achieved a tour de force with its protocol-owned liquidity approach. It has shown us that there are potential solutions to the issues plaguing the current DeFi environment.