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According to reports, the decentralized storage project Olympus will purchase more Ethereum to support its OHM tokens after members approve the new reserve vault framework on Frida

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According to reports, the decentralized storage project Olympus will purchase more Ethereum to support its OHM tokens after members approve the new reserve vault framework on Friday. According to the proposal, approximately $16 million in DAI and $20 million in ETH are currently deployed in the POL pool. Although the finance team recognizes the importance of fund pooling, it suggests reducing the OHM/ETH fund pool by $10 million (and potentially increasing the OHM/DAI fund pool) and increasing the funds available for LSD or other ETH opportunities. ETH liquidity can be supplemented through BLE treasury and/or other third-party liquidity. Olympus Finance team’s anonymous analyst Relwyn stated that its goal is to have 75% stable currency and 25% targeted exposure. A slight increase in ETH exposure is a step in this direction, while not compromising the relative stability supported by OHM in the short term.

Olympus DAO community votes to purchase more ETHs to support OHM tokens

I. Introduction
II. What is Olympus?
III. Overview of OHM Tokens
IV. The New Reserve Vault Framework Proposal
V. Decreasing the OHM/ETH Fund Pool
VI. Increasing the Funds Available for LSD or Other ETH Opportunities
VII. BLE Treasury and Third-Party Liquidity
VIII. The Goal of Olympus’ Finance Team
IX. Conclusion
X. FAQs
# According to reports, Olympus is purchasing more Ethereum to support its OHM tokens

I. Introduction

In recent news, it has been reported that the decentralized storage project Olympus is planning to purchase more Ethereum to support its OHM tokens. This move comes after members have approved the new reserve vault framework on Friday.

II. What is Olympus?

Olympus is a decentralized finance (DeFi) project that aims to create a new stablecoin through a combination of algorithmic and over-collateralization. It is a DAO (Decentralized Autonomous Organization) designed to be owned and operated by its users.

III. Overview of OHM Tokens

OHM is the native token of the Olympus Protocol. It is a governance token that allows holders to participate in the decision-making process of the decentralized network. OHM is also a store of value, with a total supply of 10,000 tokens and a current market cap of $160 million.

IV. The New Reserve Vault Framework Proposal

The new reserve vault framework proposed by Olympus aims to improve the stability of the OHM token. It proposes to reduce the OHM/ETH fund pool by $10 million (and potentially increase the OHM/DAI fund pool) and increase the funds available for LSD or other ETH opportunities.

V. Decreasing the OHM/ETH Fund Pool

The finance team at Olympus recognizes the importance of fund pooling but suggests decreasing the OHM/ETH fund pool. This reduction is expected to increase the stability of OHM tokens.

VI. Increasing the Funds Available for LSD or Other ETH Opportunities

The proposal also recommends increasing the funds available for other ETH opportunities, such as LSD. This move will create an opportunity for more investors to participate in the project.

VII. BLE Treasury and Third-Party Liquidity

To supplement ETH liquidity, BLE treasury and/or other third-party liquidity can be used. This allows Olympus to tap into other third-party liquidity pools for more fluid liquidity management.

VIII. The Goal of Olympus’ Finance Team

The goal of Olympus’ finance team is to have a balanced exposure of 75% stable currency and 25% targeted exposure. A slight increase in ETH exposure is a step in the right direction towards this goal, while still maintaining the relative stability supported by OHM in the short term.

IX. Conclusion

In conclusion, the new reserve vault framework proposed by Olympus suggests a reduction in the OHM/ETH fund pool and an increase in funds available for LSD or other ETH opportunities. This move is expected to increase the stability of the OHM token and create opportunities for more investors to participate in the project.

X. FAQs

Q1. What is Olympus?

A1. Olympus is a decentralized finance project that aims to create a new stablecoin through a combination of algorithmic and over-collateralization.

Q2. What is the OHM token?

A2. OHM is the native token of the Olympus Protocol. It is a governance token that allows holders to participate in the decision-making process of the decentralized network. OHM is also a store of value.

Q3. What is the goal of Olympus’ finance team?

A3. The goal of Olympus’ finance team is to have a balanced exposure of 75% stable currency and 25% targeted exposure.

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