Olympus v1 (OHM)

I feel @OlympusDAO is a DeFi biggest wasted opportunity.

Its codebase/implementation allows for a truly decentralized crypto native true currency.

Don’t read a stablecoin, which are onchain banks, but a true unpegged but stable currency with its own monetary policy.

It has everything in place to position $OHM as a true decentralized worldwide reserve currency, backed by debt in different currency (and debt denominated in its own currency), crypto and gold reserves.

I would only have to try to beat the $USD as a store of value. Which given the trajectory of the US might actually start to see a decline as the world reserve.

But instead it try to be some kind of up only asset based on some financial obfuscation mechanism which for most of them rely on (3,3) shenanigans revisited.

Truly a shame. We could have a true crypto native currency.

There was a time people on CT were posting “(3,3)” like it was a cheat code.

The whole idea was to bond, stake, hold and earn

$OHM ran from around $4 to over $1,400 and it felt like it would keep working.

Then early 2022 came, it started as a small pullback, then kept going until it was down over 90%.

After that, people just stopped talking about it and moved on.

Currently trading at $16 btw.

The largest ohm fork ever is unwinding