What is Olympus V2 (OHM)?

Olympus is a protocol on the Ethereum blockchain to establish OHM as a crypto-native reserve currency. It conducts autonomous and dynamic monetary policy, with market operations supported by the protocol-owned Olympus Treasury.

OHM serves a need in the market gap between fiat stablecoins and volatile crypto assets, providing relative stability and scalability underpinned by the protocol’s Range Bound Stability (“RBS”) system. RBS is the flagship system of Olympus’ autonomous monetary policy.

Olympus V2

Olympus V2 strongly prioritizes decentralization and immutability. V2 is a massive step for Olympus. Through these upgrades, we will operate in a fully trustless, governance-minimized environment in the coming months. Key features of V2 include on-chain governance via gOHM, automatically staked bonds, and cross-chain functionality through gOHM. In V2, Ohmies everywhere can now take advantage of gOHM, which will operate alongside the Proteus initiative to take gOHM—our governance token—cross-chain.

V2 introduces a new feature for 4,4—tthe ability to bond and have your vesting tokens staked automatically, maximizing your gains and reducing your gas fees. During the lockup days, your funds are locked up, so withdrawals are impossible. Your entire vested balance will be available at the end of the bonding period.

On-Chain Governance

Stakers will take full control of protocol contracts by implementing Compound’s Governor Bravo. This will occur in a phased roll-out. We will begin with a guardian multi-sig (like we have today), followed by an on-chain governed Treasury and on-chain governed bonds. On-chain governance will occur through the gOHM token (previously called wsOHM). Users can now stake directly into/out of goHTM, saving precious time and gas.


Bonds have received a significant overhaul. The upgrades are as follows:

Bond payouts are staked at the time of purchase. Rather than requiring bonders to factor in missed rewards when considering a discount, they are now earned by default. This means that any >0% discount will outperform staking, so discounts should stay within 0%. It is good for minimizing market pressure and maximizing protocol efficiency.

Bonds no longer vest linearly. Instead, bonders must wait until the end of their term to redeem. This illiquidity is enabled by staking bond payouts and creates a form of locked staking that will save ohmies money by removing the incentive to incur wasteful gas transactions through frequent redemption.

New bond types are created as isolated offerings. Each bond has a maximum amount of OHM that can be paid or a maximum amount of principal that can be purchased, and once exceeded, the bond is retired. All parameters of the bond are set in stone after initialization. This improves both budgeting and immutability.

Bonds can be held as NFTs. This enables liquid secondary bond markets.


Who is the founder of Olympus V2 (OHM)?

Olympus is run as a DAO; thus, it’s governed by a community of anonymous accounts going by the names of “Zeus,” “Apollo,” “Unbanksy,” and “Wartul.”


What is Olympus V2 (OHM) used for?


Olympus’ currencies are highly liquid and can be easily exchanged for other assets, products, and services.

Serve as a unit of account

Other financial assets can be denominated in the OHM currency.

Preserve purchasing power

It provides its holders with a stable, low-volatility asset that grows steadily over the medium-to-long term.

Governance & DAO

Olympus DAO is a network of dedicated community members who execute decisions & protocol mechanisms voted on through community governance.


OHM holders can choose to stake OHM for goHTM, which receives the Base Staking Rate (“BSR”). Staking is the profit distribution mechanism at Olympus. It is designed as the dominant strategy for participants; the best thing to do will likely be to stake, hold, and compound.


How is Olympus V2 (OHM) unique?

OlyZaps V2 is an update to Olympus V2. The first iteration of OlyZaps was launched last year to allow Ohmies to easily swap any crypto assets into sOHM in one simple action. Instead of going to an exchange to get OHM and then returning to Olympus to stake, Ohmies could do this all-in-one transaction by “zapping” right in the Olympus app.

OlyZaps will now disburse V2 assets. There is no need to worry about V1 OHM vs. V2 OHM tokens. It now also fetches the best market rates for maximum capital efficiency. This is possible by using the 0x API for swapping into each asset. 0x API, as the liquidity endpoint for DeFi, is the most accurate way to aggregate all price data from liquidity pools for sapper assets. As if these changes weren’t enough, the developers put the cherry on top by revamping the contracts to work in some gas savings over the V1 version. So, in short, more flexibility with less cost.


How many Olympus V2 (OHM) coins are in circulation?

There are currently over 1.7 billion OHM staked in the network.


How is the Olympus network secured?

OHM is an ERC-20 token on Ethereum. The network is governed as DAO and constantly features new OIPs (Olympus Improvement Proposals).

Olympus bonds are a financial primitive that allows transacting assets, often between the protocol and individual stakeholders, over a specified time period and at market-driven prices. In other words, Olympus bonds are a market-driven pricing mechanism for any two ERC-20 tokens that do not rely on third parties like oracles.

How do I buy Olympus V2 (OHM)?

The OHM token can be used for a wide range of purposes, like staking and governance.

OHM tokens can be easily purchased by following the following steps. 

Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy OHM through your trading account by swapping with BTC, ETH, or USDT pairs.


Which Cryptocurrency Wallet Supports Olympus V2 (OHM)?

The PTPWallet platform supports many cryptocurrencies, with OHM  soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.


More to explore

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