Cryptocurrency has been moving to actualize the true meaning of democratized economic system, away from the centralized systems. As decentralized finance (DeFi) exploded recently, it has continued to grow with many protocols emerging in the crypto space to give users a competitive investment landscape. When Olympus Protocol was designed, the purpose was to democratize an economic and governance system in the financial world through a peer-to-peer model. [REDACTED], as the first official branch of OlympusDAO, has been created to help actualize this dream while giving its holders extraordinary rewards.
What Is [REDACTED]?
[REDACTED] is the first official branch of OlympusDAO focused on acquiring CRV, CVX, and other relevant governance tokens to expand Olympus DAO’s reach beyond risk-free value and expand into a multi-token ecosystem. The protocol enables Olympus to efficiently, sustainably, and fairly venture into the Curve ecosystem while not deviating too far from the Olympus initial core value.
High-Yield, Safe Protocol for yield farmers
The reason why any investor would join a protocol or participate in a project is to safely maximize their investments- and it’s the same reason crypto enthusiasts join [REDACTED].
The curve ecosystem has become one of the most popular blockchains for DeFi yield farming because of the high yield rates. CRV price has been particularly on the rise as the majority of the circulating supply of CRV is locked. Curve incentivizes its holders to lock their tokens on the protocol long-term and earn rewards from staking. Similarly, Convex Finance has also been competing to offer the most attractive yields to entice CRV holders to lock their tokens in their vaults. The result is a supply squeeze.
Users who interact with [REDACTED] bond their tokens through a metamorphosis, hence receive an equivalent amount of discounted $BTRFLY. By locking up your CRV tokens into the [REDACTED] vault, you’re essentially taking them out of circulation, which will create supply shortage, hence higher demand and price. But that’s not all. [REDACTED] aims to use your locked tokens to seek other high yield opportunities to further grow the treasury, the expected result is the increase in the intrinsic value of $BTRFLY. As the token supply squeeze takes effect and the protocol continues to hunt for high yield opportunities, there is an intrinsic positive feedback loop that creates a consistent natural growth of the protocol, which effectively leads to the organic rise in $BTRFLY price.
Free to Use Protocol
The [REDACTED] protocol is free to use, with everyone having equal opportunity to join and share without any central management. Instead, the protocol gets revenue from selling $BTRFLY tokens and keeping a portion of the yield produced. Each BTRFLY costs [REDACTED] one dollar of $OHM to mint, setting the protocol’s minimum value. In case the price of BTRFLY goes below the one-dollar mark of OHM, the protocol buys the token to reduce supply and bring it back to the one-dollar mark. This is where the protocol gets its profit. The goal is to create a network of the economic system with abundant and universal opportunities for anyone interested in creating great profit.
Check them out here (and twitter) to be an early adopter for a better return on investment (ROI).