A 12-month plan for how Olympus will achieve its goal of becoming Web3’s premiere decentralized reserve currency
The Road So Far
The goal of the Olympus protocol has always been to create a decentralized, censorship resistant reserve currency for the emerging Web3 ecosystem. Developing a reserve currency is important because a fundamental goal of the Web3 financial movement is to foster an alternative economic ecosystem that serves the needs of its various stakeholders, which include:
- Having access to unique purpose-built assets that are widely and uniformly available across L1s and L2s
- Being able to transact/store value in highly decentralized and censorship-resistant assets that are not dependent on the traditional financial ecosystem for validation or survival
Our first step was to utilize strong incentives to bootstrap Olympus’ Treasury, which would give the emerging DAO the economic power and influence required to achieve this objective. What makes OHM valuable as a reserve currency is the presence of the Olympus treasury, which acts as a counterbalance to the market, adding confidence and stability to a volatile system.
Our bootstrapping efforts have been immensely successful. The Olympus DAO currently has a Treasury valued at approximately $600 million, which is owned and operated by the Olympus community.
Olympus’ bonding activity and increasing revenues (driven by fees from Olympus’ liquidity pools, services such as Olympus Pro, “bribes” from governance activities, etc.) will certainly continue to drive Treasury growth and the DAO’s economic power.
However, as Olympus moves into a more intensive execution stage, many are asking important questions, such as:
- What will it mean, practically, for Olympus to become a decentralized reserve currency? How are the DAO’s current and future partnerships, liquidity initiatives, and innovation activity helping it achieve its mission?
- Is Olympus sustainable?: Does Olympus require constant and growing market demand for it to successfully execute its mission?
- How is the Treasury being deployed to add value to the Olympus ecosystem?: How do ecosystem participants, including those staking OHM, benefit from Olympus’ Treasury?
