OlympusDAO is the creator of OHM, a free-floating reserve currency backed by a basket of crypto assets. Used as a means of hedging against the crypto market’s volatility, OlympusDAO focuses on supply growth rather than price appreciation to stabilize the value (but not necessarily the price) of OHM. How does this work? First, every OHM token is backed by 1 DAI, but not necessarily pegged to it. While a peg would imply 1 OHM = 1 DAI, backing implies 1 OHM >= 1 DAI. This means there’s no upper ...
