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Agora Insights — Olympus Community Weekly Newsletter — Friday 10 December 2021

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Agora Insights — Olympus Community Weekly Newsletter — Friday 10 December 2021

While the loudest voices in the space clash on bull vs bear, Olympus has been quietly partnering with some of the most exciting protocols in the space. Olympus Pro and Olympus Grants will introduce…

Numbers at a Glance — Time in OHM > Timing OHM, LP Fees averaging $300k+ PER DAY

As we do each week, we returned to Delphi to gather up the latest protocol data and metrics.

You can access all of the enclosed charts and data at the wonderful Olympus Dune Analytics page HERE (curated by the legendary Shadow). Please read on for this week’s numbers at a glance:

1. Number of Ohmies: 83,816 (+2,697)

  • 26 November: 77,445
  • 3 December: 81,119
  • 10 December: 83,816

To the new Ohmies: Welcome! :)!

2. Current Index: 44.616 OHM || Index Adjusted Price: $22,871.05

Current Index measures your current OHM balance if you had one OHM staked since the first epoch. Index Adjusted Price measures Current OHM Price multiplied by the Current Index.

The following table compares the difference in your current OHM balance based on your staking date:

The price of OHM on 15 June was about $204.28. If you staked one OHM since then, you would have more than septupled your stack now to 9.696 OHM! OHM’s price today is around $512.62. Let’s find out what is your ROI:

  • Principal: $204.28
  • Return on 10 December: 10.481 * $512.62 = $5,372.77
  • Principal gain = $5,372.77 — $204.28 = $5,168.49
  • ROI = ($5,168.49 / $204.28)*100% = +2,530%

Investing in OHM back in the middle of June would give you more than a 25x return today. Don’t underestimate the power of compounding.

3. Liquidity Provider Fees Generated: $24,700,147

  • $2,121,658 in fees generated in one week!
  • $303,094 in average daily fees
  • Week-over-week growth of +9.4%

Via: Dune Dashboard

Olympus has taken in over $24.7M in LP fees to date. It is worth noting that these LP fees are collected in both OHM and the stable asset (either DAI or FRAX) at 0.25% per trade on Sushiswap and 0.30% on Uniswap.

4. Olympus Pro Treasury Holdings: $546,773

  • 7-day change: +$37,555 (+7.4%)
  • 30-day change: +$40,856 (+8.1%)
  • The Olympus Pro Treasury holds the tokens of partner protocols who are utilizing the Olympus Pro platform. The tokens are generated via a 3.3% fee charged for use of the platform.
  • While relatively small currently, the mutual benefit received by both Olympus and the partner protocols far exceeds the amount of fees received.

5. Market Value of Treasury Assets: $787,171,743

  • 7-day change: -$33,371,189 (-4.0%)
  • 30-day change: +$28,324,918 (+3.7%)

The Market Value of Treasury Assets shows the current market rate of all of the assets held within the Treasury. This value will be more volatile than Treasury Risk Free Value as it encompasses all assets in the treasury and not solely stablecoins.

6. Risk Free Value of Treasury Assets: $191,800,168

  • 7-day change: +$6,571,063 (+3.5%)
  • 30-day change: +$21,735,349 (+12.8%)
  • RFV Per OHM: $32.73
  • Based on current circulating supply of 5,899,083

As a reminder, when the supply growth of OHM outpaces the revenue inflow, RFV per OHM will drop — this is part of the motivation behind OIP-18 as covered in the August 18th edition of the newsletter.

OIP-18 Framework (Proposal HERE )

7. Current Runway: 374 days

At the current reward rate of 0.298%, Olympus can continue to distribute OHM rewards for 374 days even if it stops bringing in revenue. That’s still over a year of runway despite the -4 day decrease over the past week.

Additionally, It is important to note that any future reward rate reductions will greatly benefit the runway. At 1,000% APY, the projected runway is 570 days.

8. Macro numbers from around the cryptoverse: