An altcoin project has had an impressive rally in the past days. OlympusDAO’s native token, OHM, went up to $ 1639. Although trading at around $ 820 at the time of writing, the foundations of the protocol continue to grow at an impressive pace, and investors can earn more, according to NewsBTC writer Reynaldo Marquez.
Data shared by OlympusDAO revealed an increase in the number of OHM holders. This metric, which was below 1,000 at the end of March 2021, more than doubled in April and reached 3,300. The number of OHM owners has been growing in the last 30 days.
The team also shows an increase in the Risk-Free Value of Treasury Assets metric used to measure the minimum value of OlympusDAO assets. As the team said, “No matter where the price is; this metric goes straight or up ”. The metric stands at the 2,807,363 DAI at the time of writing and has become parabolic since April 21st.
The Market Value of Treasury Assets regarding OHM’s price performance 25. $ 147.490 million, and a similar growth was seen last month. As the team said, 90% of OHM supply is consistently supported by “3.3” as the dominant investment strategy.
As a result, the protocol’s total keyhole value increased after a drop at the end of March. Since then, the fastest growing metric has soared last week, according to the NewsBTC author. OlympusDAO recorded $ 150 million in value for lockdowns. About the potential rewards for investors, the team said:
Things don’t seem to go bad for stakers anytime soon. With OHM waiting to distribute staking rewards to their owners, currently OHM staked investors are gaining 20x. At least 50% over the next six months. They secure 000 APY.
OlympusDAO liquidity on the rise
Additional data points to liquidity accumulation in the protocol. Trading pairs are the serial DAI / OHM and OHM / DAI pool, which rose from $ 3 million at the beginning of the protocol to $ 28 million at the time of writing. As the team explained, 83% of the liquidity of the pool belongs to the treasury.
Created as an algorithmic cryptocurrency protocol, OlympusDAO has created a mechanism that uses asset support as a supply restriction. Local tokens are sent to the protocol by the liquidity provided in OHM, DAI or OHM-DAI LP (liquidity provider). As the anonymous user “Shadow” explains, the protocol is designed to protect its investors:
OlympusDAO preserves your purchasing power by repurchasing your staked OHM. Resale is nothing more than printing new OHM paid to stakers. Rebase (change in value) is represented as a percentage increase in staked OHM per epoch (8 hours). APY is a composite refund that comes automatically within a year.