Olympus (OHM)USD

Olympus (OlympusDAO) is a decentralized finance protocol on Ethereum that operates a treasury-backed, free-floating reserve currency. The project was created by pseudonymous founders and launched in April 2021 with the deployment of the OHM token on Ethereum mainnet. Olympus is an ERC-20 token protocol rather than an independent blockchain. It relies on an asset-backed treasury, an algorithmic supply management engine, and on-chain DAO governance. The treasury holds a basket of crypto assets, including DAI, FRAX, and WETH, which back OHM and establish a floor value while allowing the token to float freely without a fiat peg. The protocol uses mechanisms called Protocol Owned Liquidity and Range Bound Stability to manage price, liquidity, and solvency autonomously on-chain. The native token, OHM, is used for staking to earn yield, as a unit of account in DeFi trading pairs, as collateral, and for participating in protocol governance. Derivative staked forms include sOHM and gOHM. OHM has an uncapped, algorithmically managed supply that adjusts through staking and bonding. Total supply has been reported at around 21 million, with circulating supply around 15 to 16 million tokens. The protocol's stated goal is to create a decentralized unit of account and medium of exchange, functioning as crypto-native reserve currency infrastructure independent of fiat systems.