Is it time to let go? - DollarDeFi or Crypto-Native Currency🧵

So far, the crypto space has predominantly been dollar-nominated. The disadvantages of fiat currencies have, rightfully so, become a more active topic of discussion as of late. (2/15)

However, this is not the first time this conversation has arisen. The dollar standard is just the current chapter in a fairly storied book🔖 (3/15)

With a 1 Trillion Dollar Market Cap, roughly 15% of crypto is $USD-pegged stablecoins, which mimic all the problems tied to $USD. The remaining 85% of the crypto market is tied to speculative, unbacked assets; besides floating currencies like $OHM and $RAI. (4/15)

Do you believe Web3 is ready for a crypto-native currency?

Let’s see if our perspectives align: (5/15)

An Internet-enabled world blurs the lines between governmental spheres of influence and sovereignty, allowing commerce across cultural lines. Fiat based, centralized currencies are deficient at this scale. (6/15)

Olympus believes that a deeply liquid, censorship-resistant, floating currency is what the decentralized world needs to flourish. This grand experiment could potentially pave the way to self-sovereignty, and we're all-in. (7/15)

Floating currencies can exist in a “Goldilocks Zone” where supply moves with demand without influence by a central authority, unlike other currencies tied to a fixed or governed supply🔗 (8/15)

So, how does Olympus play into all of this? (9/15)

At Olympus, we’ve been working on a stability mechanism that would bring us into that Goldilocks zone. This mechanism, called Range Bound Stability, will deploy concentrated $OHM / $DAI liquidity and adjust $OHM supply through the issuance of Reserve and Inverse bonds. (10/15)

It would be presumptuous to say that $OHM is a crypto-native floating currency in its current state. Most of our treasury is still $USD-denominated stables; it's important for any currency to be valued against & hold other currencies to act as their counterpoint. (11/15)

The dominance for $USD is still too big to discard it completely as a treasury asset. However, the protocol has the adaptability to evolve our stability mechanism and treasury composition into more decentralized crypto-native assets whenever the crypto-market deems fit. (12/15)

We believe Olympus could serve as the foundation for DeFi and beyond. Soon, we will release our biggest update yet: Olympus V3. This new update will include a complete new start for Olympus. (13/15)

$OHM is highly adaptable and structured to support deep liquidity + stability when the market is ready for a progressive alternative to a dollar-pegged world. Perhaps it's not a question of if we're ready, but when. (14/15)

We recognize the importance of education for these topics. The mechanisms of Olympus can be relatively complex and difficult to grasp. Engage with our Ohmies in Socratic conversation-style discussions over on the Discord. Check it out here: (15/15)

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