I may have Chad-ed my way into Bitcoin, don't invest what you can't afford to lose. I'm glad I ignored that little timbit of advice. BTC is one of the safest plays in the industry (if you have the time frame to wait for THE moment) and if you haven't acquired your share of the 21 million you still have time. My biggest regret was not buying Eth for under a thousand, I could've Chad-ed my way into early retirement. I finally found the Life Equation (the mathematical proof that life is worth living) not on Midgard but with the old gods of crypto. Companionship + Understanding + Assurance + Joy + Altruism ? Respect ? Commendation ? Sympathy ? Innocence ? Dignity ? Success ? Acceptance y=n where y=despair and n=caution, love=truth, death=rebirth, and self=light side. I have abandoned my status as a plebeian and transcended to the pantheion of the demigods. I'm a bankster of DeFi and my new home is in Olympus.
What is Olympus DAO (Decentralized Autonomous Organization)?
Olympus is a reserve currency protocol based on the Ohm token. The DAO manages Ohms by backing it's Treasury with crypto reserve assets such as DAI, FRAX, Wrapped ETH where 1 OHM >= 1 DAI. Because the protocol is controlled by the DAO the OHM Token generates a Stable Floating Value based on Market Demand if the OHM Token is traded above it's back assets the Treasury mints new OHM Tokens and if the opposite the Treasury buys back OHM Tokens and burns them.
This was the bottom of the dip and time to buy and the price has never fallen below this price point. But what if I told this doesn't matter. OHM is a Rebase Token - is designed in such a way that the circulating token supply adjusts (increases or decreases) automatically according to a token's price fluctuations. The majority of newly minted OHM goes to stakers, the gain for stakers will come from auto-compounding balances.
My buy in price range was >$500 per OHM that was a fun time trying to catch that price point. I was told from a bullish Ohmie that 1 Ohm was the minimal requirement but for your stake to take off at least 4 or 5 was the recommended specs since I used to belong to the PC master race I bought 10. Aug 9 Approve OHM spend limit 0.001894 Eth. Approve OHM spend limit again 0.001078 Eth. Stake 0.008109 Eth. Stake again 0.009867 Eth. You don't have to stake twice I'm just an eager beaver and one of these days it's going to be my Achilles' heel. Look at the Next Reward Amount 0.0682 sOHM is the rebase rate every 8 hours so currently I'm earning 0.0682 sOHM * 3 epochs per day = 0.2046 sOHM/day. My Return of Investment is 1.023 OHM every 5 days. Now I'm not the sharpest tool in the shed but whatever Token your farming what matters is the value of the Token and how long it takes to Harvest 1 Token.
Let me tell you the story of how I bought 1 Wrapped BTC with a $5000 Ohm investment or better yet how I acquired 32 ETH to stake on main-net. Here I come Badger Finance Muthafukas I'm just a minnow I know I have no business picking at your teeth but I'm here and I feel like a new born whale. Have you smoked my Hopeium yet? Please be smarter then that I'm just some Gringo I agree with this protocol from a philosophical perspective and obviously a monetary one but I haven't explain 3,3 to you yet. https://docs.olympusdao.finance/
Have you heard of Game Theory? It is the study of mathematical models of strategic interaction among rational decision-makers. Originally, it addressed zero-sum games, in which each participant's gains or losses are exactly balanced by those of the other participants.
(3,3) is the idea that participation in Olympus would generate the greatest gain for everyone. There are 3 actions a user can take
- Staking +2
- Bonding +1
- Selling -1
Staking and Bonding (buying Ohm at a reduced rate directly from the Treasury with Dai/Frax/wEth) are fruitful for the protocol where as Selling is unfavorable.
- If 2 participants Stake (3,3) together it is the best outcome for the protocol and most advantageous (3+3 = 6)
- If 1 Stakes and the other Bonds both support the protocol the 1st taking OHM off the market and the other adding liquidity to the Treasury (3+1 = 4)
- If 1 of us sells it diminishes the effort of the 1 who Staked or Bonded (1-1 = 0)
- If both of us sell its the worst outcome for the protocol (-3,-3 = -6)
I have received without pay and so I in turn give to you the Heart of my Portfolio it expands and contracts but its like the universe it's mostly expanding. If you do not know me: know this I want nothing from you that takes away your quality of life. I don`t want to succeed at your expense. Olympus seems to envision this ethos. Now are you my Ohmie? Don't you put your hand out there for me, come over here and hug my nigga!
