The development of Olympus DAO
DeFi 1.0 Development: Filling in the Gaps
In DeFi 1.0, users were rewarded with their own native token in exchange for depositing resources that were potentially traded or borrowed by others. As a result of capital contributions, which are usually temporary, these protocols are diluting their token supply. Thus, individuals participate in the protocol, devote resources, reap its benefits, and then withdraw their resources, dumping the native tokens on the market as a result.
However, liquidity mining is a risky strategy in DeFi because it reduces the supply of a project and attracts mercenaries. The result is that many new projects are abandoning liquidity mining (which was prevalent in DeFi 1.0) in favor of exploring new alternatives.
The Olympus DAO is a gateway to DeFi 2.
In Olympus, businesses can build their own decentralized financial infrastructure and avail of the following benefits by creating a DAO like Olympus.
OHM tokens are rewarded based on the amount they stake, similar to the staking mechanisms underpinning alternative DeFi protocols. Olympus’s high rate of return (APY) encourages supporters and investors to purchase more OHM on the market or engage in more bonding.
In combination, these factors help maintain the price of OHM and mitigate the need for the protocol to redeem any liquidity.
A new DeFi 2.0 gateway from Olympus addresses the following issues in DeFi 1.0:
- It is common for DeFi protocols to lack long-term, practical incentives for liquidity providers beyond distributing LP tokens.
- Funds and their total value must be locked up before a pool can become liquid.
- Congestion is often experienced by DeFi platforms during high network activity periods.
- In order to achieve higher levels of scalability and security, many DeFi platforms sacrifice decentralization.
- There is an urgent need for third-party data sources (oracles) that provide a higher level of quality than what is currently available in web3.
Let Revinfotech help you launch your own Olympus like DAO platform today
As a leading DeFi development company, Revinfotech understands the urgent need to embrace DeFi 2.0. Revinfotech is proficient in tailoring DeFi protocols, which has helped many platforms enter the DeFi market and gain sustainable liquidity. For platforms like Olympus DAO, we offer the following modules:
As a primary strategy of value accrual, Olympus uses staking to earn rebase rewards. Stakers stake their OHMs on Olympus' website. As a result of bond sales, rebase rewards can vary depending on the number of OHM staked, as well as the reward rate set by the monetary policy.
By selling OHM at a discount, Olympus is able to acquire its own liquidity and reserve assets such as LUSD and increase secondary value. Bonders are quoted with terms such as the bond price, the number of OHM tokens they will receive, and the vesting period in the protocol.
This vault offers sOHM token holders a no-lose prize pool that is based on a lottery system. Users stake their sOHM tokens for 6 days to receive the collective rewards of all users staked in this vault.
Why Revinfotech for DAO Development Services?
The Revinfotech team of technical experts has real-world experience in creating success stories.
Open Source Code
In the short term, DAOs are reserved until the financing period ends, after which they become autonomous, being accessible by all parties by creating open source code.
450+ experts can assist you in refining your offering, recommending the best technology approach, and even setting up communities and campaigns.
In addition to being tailored to your target audience, we establish a coherent roadmap to ensure smooth and accelerated development and deployment.
We provide extensive post-delivery services so that you can focus on your business' growth after the launch of the product.
We make a tangible difference. When you see the value in your investment, you are motivated to keep on investing in us.