Olympus V2 (OHMv2) is a community-owned, decentralized, and censorship-resistant reserve currency designed for the Web3 financial ecosystem. As an asset-backed currency, OHMv2 ensures long-term price stability, deep liquidity, and wide usage across the Web3 space. With a robust and growing Treasury, OHMv2 acts as a counterbalance to the market, providing confidence and stability to the volatile system. Stakers play a crucial role in the Olympus ecosystem by depositing OHMv2 into the protocol, contributing to price stability and gaining governance rights.
Bonding is another key feature of Olympus V2, allowing users to trade various tokens for OHMv2 at a discounted price. Bond sales provide additional liquidity and reserve assets to the Olympus treasury, further contributing to the protocol’s stability. One notable aspect of OHMv2 is that 99% of all liquidity is owned by Olympus, ensuring control and security. With its aim to become a policy-controlled financial reserve currency, OHMv2 strives to preserve purchasing power, foster deep liquidity both on decentralized and centralized exchanges, and serve as a trusted unit of account in the Web3 ecosystem.
Olympus V2 addresses the reliance on centralized, censorable stablecoin assets in the crypto space by introducing OHMv2, a non-pegged reserve currency backed by a basket of assets. Unlike dollar-pegged stablecoins, OHMv2 is not subjected to the depreciating control of governments and central banks. Its goal is to help users preserve purchasing power, create deep liquidity, and establish trust as a backing for other decentralized assets. OHMv2 is backed by at least $1 worth of assets in its treasury, ensuring price stability. Although not pegged, OHMv2 can be bought back and burned by the protocol when its price trades below $1, pushing it back to the desired level.