Olympus is an algorithmic currency protocol based on the OHM token. It introduces unique economic and game-theoretic dynamics into the market through asset-backing and protocol-owned value. Each OHM is backed by 1 DAI in the Olympus treasury and the protocol is designed to buy back and burn OHM when it trades below 1 DAI. The intended effect is to push OHM price back up to 1 DAI. OHM could always trade above 1 DAI because there is no upper limit imposed by the protocol.
The goal of Olympus is to build a policy-controlled currency system, in which the behavior of the OHM token is controlled at a high level by the Olympus DAO. In the long term, Olympus believe this system can be used to optimize for stability and consistency so that OHM can function as a global unit-of-account and medium-of-exchange currency.
There are two main strategies for market participants: staking and bonding. Stakers lock OHM supply and receive a share of protocol profits as they are earned. Bonders provide and lock either liquidity pool (LP) tokens or assets for the treasury and receive a fixed profit after a fixed period of time.
How to use Olympus?
Navigate to [Olympus, https://olympusdao.finance/] and deposit OHM, LP tokens, or purchase bonds with DAI to earn rewards. OHM holders can also take part in governance to shape the future of the protocol