Olympus is a non-dollar anchored stablecoin project. The goal of the Olympus protocol is to create a decentralized, censorship-resistant reserve currency for the Web3 ecosystem. Olympus is run by OlympusDAO. OlympusDAO is a network of dedicated community members who execute on decisions & protocol mechanisms voted on through community governance.
$OHM is the native token. The protocol acquires liquidity by bonding tokens and creates a loop of "buy, distribute, pledge" approach that allows $OHM to keep the high premium to the backing asset. Olympus is building $OHM, a community-owned, decentralized, and censorship-resistant reserve currency that is asset-backed, deeply liquid, and used widely across Web3. $OHM, governed by the Olympus DAO, is Web3’s decentralized reserve currency. $OHM’s purpose is to provide the growing Web3 financial ecosystem with a censorship-resistant currency that preserves purchasing power, has deep liquidity, is trusted, and is used widely as a unit of account.