Olympus, like other DeFi projects, relies on smart contracts instead of intermediaries to provide financial services to users. Its goal is to create a stablecoin backed by crypto instead of fiat currencies like the U.S. dollar, which users can in turn stake for currently offered annualized returns of 7,800%. Source link … [Read more...] about Olympus Tanks 30% Led by Liquidations on Fuse, Souring Market Sentiment
Olympus
Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi)
Yes, it’s a Ponzi scheme. But who cares? So are the dollars in your pocket.If you haven’t heard about it, Olympus DAO is a decentralized finance (DeFi) protocol whose primary use case seems to be “making people extremely angry.” Skeptics argue that its core functionality – a staking scheme currently yielding over 7,000% APY via new OHM token mints – is unsustainable to the … [Read more...] about Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi)