Olympus DAO chases a new ATH after fresh bond offerings and partnerships
OHM price is on the verge of a new high after a series of cross platform integrations, fresh bond offerings and the launch of Olympus Pro prove that the project has strong fundamentals. The rapidly evolving world of blockchain technology offers a wide range of approaches and tokenomic models aimed at solving the blockchain trilemma of creating a decentralized, stable and secure network. One tokenomic model that has seen several varients over the past year is the 'rebase' model, which is designed in a way so that token balances can fluctuate over time depending on changes in token price and....
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Presently in a National Park, Mount Olympus, was at one time home to some of the most powerful Greek gods. According to ancient Greek legend, the mountain Olympus was built after the younger gods defeated the titans in the battle for control of the world. The peaked mountain, according to experts, was created to hide […]
In mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoins have seen significant demand in 2021. One particular stablecoin called OHM is quite different from the traditional reserve currency defi protocols today, as OHM is a free-floating currency backed only by what’s held in the Olympus DAO treasury. OHM may not be backed by a U.S. dollar in the usual fashion, but the stablecoin’s $3.6 billion market valuation makes it the fifth-largest crypto reserve currency by market capitalization.
Meet Olympus DAO: An Algorithmic....
“Nothing about Coinbase changed this week, we are the same company we were yesterday, or a year ago. If anything, we are in an even stronger position given our balance sheet,” assured Coinbase CEO Brian Armstrong. The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on May 10 to sit at $63 and $62.31 at the time of writing. Overall they are down 20% and....
On Friday, October 21, a malicious entity siphoned 30,437 OHM tokens from the Olympus DAO after finding a loophole in the rebase project’s smart contract. Following the exploit, the blockchain security and data analytics company, Peckshield, detailed the hackers stole close to $300K in OHM tokens. ** Editor’s note: According to an update later posted to the Olympus Discord channel, Olympus DAO detailed that the “funds have been returned to the DAO wallet.” Apparently, the hacker was paid a bounty and returned the 30K OHM. Hacker Exploits Smart Contract’s....
The firm cited better interest rates from traditional finance loans and regulatory risks in mulling the bond platform. Porter Finance, a decentralized finance, or DeFi, protocol based on the Ethereum (ETH) blockchain, announced Tuesday that it was shutting down its bond issuance platform. In explaining the discussion, Porter Finance said:"Looking forward, we are not confident there will be large inflows of lending demand for fixed income DeFi products like the ones offered through Porter Finance. This is primarily due to the competitiveness of rates offered in traditional finance and the....