Zeus: Olympus DAO – The Decentralized Reserve Currency

Olympus is a hotly debated project in the DeFi space. It posits to be a decentralized reserve currency protocol. Each OHM token is partially backed by the Olympus treasury, but how large the treasury is, depends on what is counted towards it. We would argue that OHM tokens should be discounted for this purpose. Users can interact with Olympus DAO through staking and bonding, which incentivizes users to deposit or sell their collateral to the Olympus treasury in return for discounted OHM tokens.

We were joined by Olympus Founder Zeus to chat about why the protocol was created and how it works, and we address the debate about it being a Ponzi scheme.

Topics covered in this episode:

• Zeus' background and how he got into crypto
• Why and how the OHM was created
• Bonding and staking within the protocol
• APY on Olympus DAO
• How Olympus would deal with a DAO run
• Is Olympus a Ponzi?
• The goals for Olympus this year

Episode links:

• Olymus DAO website
• Olympus Discord
• Olympus on Twitter
• Zeus on Twitter

Sponsors:

• Tally: Tally is a new wallet for Web3 and DeFi that sees the wallet as a public good. Think of it like a community-owned alternative to MetaMask. - https://epicenter.rocks/tallycash
• CowSwap: CowSwap is a Meta-Dex Aggregator built by Gnosis. It taps into all on-chain liquidity - including other dex aggregators such as Paraswap, 1inch and Matcha - offering the best prices on all trades. It provides some UX perks (no gas costs for failed transactions!) and protects traders against MEV. - https://epicenter.rocks/cowswap

This episode is hosted by Friederike Ernst & Zubin Koticha. Show notes and listening options: epicenter.tv/428