Olympus is a decentralized reserve currency protocol based on the OHM token. Each OHM token is backed by a basket of assets (e.g. DAI, FRAX) in the Olympus treasury, giving it an intrinsic value that it cannot fall below. Olympus also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.

Olympus utilizes Protocol Owned Value to enable price consistency and scarcity within an infinite supply system. Every OHM is backed by DAI and OHM-DAI LP in the treasury. This intrinsic value cannot be diluted, providing a fundamental check on inflation.

Olympus is a floating algorithmic currency. This means that it has mechanisms to promote stability and predictability without directly pegging to any asset. With the introduction of adjustable policy; the DAO can move certain variables up and down to target growth and profitability or stability and predictability.

Other Olympus Tokens:

wsOHM | gOHM | sOHM | OHMv2

Useful V2 Migration information:

• wsOHM V1 (wrapped, staked OHM) will be replaced by gOHM (Governance OHM). They function exactly the same, but gOHM is set up for on-chain governance
• OHM and sOHM tokens will have their identical V2 counterparts. OHM V1 becomes OHM V2, and sOHM V1 becomes sOHM V2.
• Token tickers will remain the same for V1 tokens. For example, after migration, your wallet will show "OHM" instead of "OHM V1". Make sure to update the token contract in your wallet with the V2 addresses to show your balances.
• When migrating OHM V1 and/or sOHM V1, you will get gOHM in return. Although the token balance will be different (gOHM price is calculated differently, which is based on the Current Index), the dollar amount remains the same.
• After the migration, OHM V1 pools such as OHM-DAI will utilize OHM V2. This applies to new bonds as well. Partners like Abracadabra will only accept new deposits in gOHM. So, you will need to migrate if you want to use these features. Otherwise, you can sit tight and migrate only when you want to.

You have two months to migrate after V2 launch (14th December 2021). If you don't, your sOHM V1 balance will stop rebasing, but the difference will be honored when you migrate.