Dear Community,. Today we witnessed extreme sell pressure which led to another liquidation cascade.
17 Jan 2022, 06:34
Dear Community,
Today we witnessed extreme sell pressure which led to another liquidation cascade.
However, we would like to make a few points clear to our community.
1. The treasury is as healthy as it has ever been:
Assets:
LUSD - $76,638,347.97
DAI - $73,643,337.60
FRAX - $40,015,181.80
WETH - $33,863,695.17
vlCVX - $33,438,030.47
Aave DAI - $10,634,851.31
tToke - $7,152,010.46
veFXS - $6,575,471.22
xSUSHI - $1,790,874.49
inSpirit - $1,173,942.71
KP3R - $1,029,489.34
ALCX - $917,212.22
BCT - $447,758.73
FXS - $309,013.29
CRV - $289,569.56
BTRFLY - $250,754.86
pBTRFLY - $40,000,000.00 or 10% of total supply
pKLIMA - $8,680,412.16 or 3.5% of total supply
Liquidity:
OHM / DAI - $157,882,507.88
OHM / ETH - $57,113,080.66
OHM / LUSD - $39,163,186.37
OHM / FRAX - $22,198,175.88
2. The DAO is still on track to release many projects in the coming weeks and months:
Incubator/Grants
Agora News Network
Odyssey
Olympus Pro: permissionless OP bonds
Give/Tyche
Cross chain
- Proteus: gOHM partnerships and liquidity deployed on Ethereum, Avalanche, Arbitrum, Polygon, Fantom, Moonriver
- Cross chain: fully implemented Olympus branches with native tokens on all chains
Bonds
-V2 bond deployment
-Hermes: tokenized bond market and yield curves
Liquidity
-Atlantis
-OHM Debtor function: Treasury asset + liquidity unlocked
-OHM V3 concentrated liquidity
3. We are committed to expand the utility for OHM in the near future together with our partners
Core-Partners :
Frax, Klima DAO, Redacted Cartel, Lobis, Alchemix, Dopex, Inverse, Tokemak, Umami Finance, Debt DAO, Vesta, Volt, Exodia, Liquity, Phantom DAO, Prime DAO, Spirit Swap, Fiat DAO
Olympus Pro Partners:
Ethereum
Angle Protocol BanklessDAO BarnBridge Botto BlackPool DivineDAO Everipedia FiatDAO Float Protocol Gro Protocol Ichi Inverse Keep3r Network KeeperDAO mStable Pendle PoolTogether Premia Sandclock ShapeShift Synapse THORSwap Unslashed Finance
Avalanche
BenQi Growth DeFi Pangolin YieldYak
Fantom
LiquidDriver Scream SpiritSwap Spooky Swap
Arbitrum
GMX Treasure
4. Our revenue streams are growing daily:
Current Annualised Revenue:
OP - 20 million
LP fees - 75 million
Yield Farming + Staking - 110 million (and growing soon)
Fee sharing agreements - 50 million
As seen today, leverage can be very dangerous and we strongly encourage caution when using it.
We will hold a call tomorrow evening at UTC 8pm with the entire community to answer any questions you all might have.
As always, we appreciate all the support for Olympus and we close with a video Zeus made when we got started as a 10 million dollar protocol back in March. We believe a lot of it is still very relevant today!