What is Dao Development?

Olympus is a “non pegged (unconnected) stablecoin” that promises to be less erratic than regular cryptocurrencies while remaining unconnected from fiat currencies. The Olympus protocol’s role is to create a decentralised, censorship-resistant reserve currency for the Web3 ecosystem as it expands. A primary goal of the Web3 financial advancement is to establish an alternative economic environment that meets the demands of its diverse stakeholders, hence developing a reserve currency is crucial.

What are the benefits of Dao Development?

First off, OHM is the reserve crypto currency which is issued by the Olympus protocol. OHM was designed to be a free-floating currency. Like the gold standard, OHM offers a free-floating worth that its investors can bank on at all times. Investors are compelled to purchase OHM tokens on the open marketplace and perform more bondings due to the obvious high rate of return for staking OHM tokens.

Other than this, OHM governs the Olympus protocol as well. Which means that, nobody owns, governs, or decides the workings or functionalities of Olympus. Instead, OHM token owners have a say in the decisions that the Olympus DAO makes.

How Does It Work?

Let’s understand this by illustrating an example, Sushi is a decentralised finance protocol that relies on users to provide liquidity. Sure, the reliance is good for keeping markets efficient and distributing liquidity, but it’s bad for protecting the protocol’s long-term value from market whims.

On the other hand, protocols must pay liquidity providers with good returns to keep them on board, otherwise they have the option to leave and join another platform. By holding its liquidity, Olympus seamlessly eliminates the problem of liquidity migration. In a mechanism known as bonding, it buys liquidity from its customers in exchange for discounted OHM tokens. 

Why Algobitz for Dao Development Services?

Algobitz has a team of professionals who have been working on various blockchains for many years. Our delivery procedures are always tailored according to our customers. Our deliverables are always well tested before deployment, and are tailored to your needs and requirements. So, avail DAO Services from Algobitz today!