Zeus Ω ((3,3), P)

Bet big on projects and people you believe in

@AaronComics @PixOnChain @XBorgHQ @BaselineMarkets ohm has had 4.6% supply repurchased this year in addition to having backing

@PixOnChain @XBorgHQ Instead of wasting the money on buybacks, isn't creating a backing for the token such as like $ohm or @BaselineMarkets a better solution? Imagine every token now has a backing price that every holder can redeem into usdc. This backing should be from the revenue earned.

token buybacks are a step in the right direction before this, every token was technically one of two things: governance or memecoins most teams still avoid linking revenue to the token because it forces proper valuation but the ones doing it now are likely the ones worth paying attention to i’ve been tracking buybacks vs market cap and my partners at XBorg will be top 3 by eom they’re proving you don’t need to be a billion dollar company to buy back your token and once that becomes normal, i think we’ll have a huge repricing event

@witconomist @ibuprod one of those mysteries lost to time tbh

@ohmzeus @ibuprod The question tho is why “3” specifically

i was curious what 3,3 really meant, so i looked it up so basically, 3,3 is the concept that: if no one sells, we're all gonna be rich. 🤣😂😂😂 wow, groundbreaking stuff guys how was this considered smart?

yes just like the share price of coca cola stock is down 50% from its all time high in 1972. but since then it has split so that 1 share is now 372 for ohm, 1 token became 270 only difference is stock charts get adjusted by default, ohms does not but you can see it here: dune.com/queries/415590…

@__URUZ__ @ibuprod this isn't even a gotcha its like third grade math

@ibuprod @banterlytics also in case unclear i very much disagree with your opinion/takeaway here but its not that uncommon and is based on false pretenses so hopefully clearing those up helps you see why

the staking inflation fs ended up having seriously adverse effects on a psychological basis, but from a value perspective you need to factor those in and not just look at unit price when you do so you find that it drew down ~90%, which isn't fun but also not particularly novel (find me anything in crypto that has been around more than 2 years and never done so), and is currently ~80% off peak not really the LUNA style collapse its so fun to believe it was dune.com/queries/415590…

@ibuprod so to your original point, the whole thing is fkn stupid in 9999 cases where it has been used, but Olympus is that 1 in 10,000

we also saw that the inverse equilibrium (-3,-3) can be very strong, but i'd argue (3,3) remains the dominant long term eq in 2022 coordination completely flipped negative, but what'd we see happen? protocol once again served as counterparty, but now on the bid. it repurchased more than half of supply since peak to the degree that supply today (again, indexing for stock split-esque staking rewards) is lower than at launch. so supply lower than start, but backing >750x higher that backing growth then enabled protocol-provided cooler loans that effectively financed positive coordinators removing the remaining defectors, and once again we find the network in a strong state of (3,3) basically (-3,-3) can take over and, if you lack the protocol/treasury mechanism that will mean death. but if you do have that aspect, as Olympus does, defectors are mechanically removed from the network over time and (3,3) is inevitably restored

let's start with what OHM is and work our way there. OHM is non-sovereign digital money. it falls into the same category as BTC ETH or ZEC. it's purpose is to store value. it is trustless+censorship resistant in ownership, transacting, and utilization. it is credibly scarce. high level similarities continue with market-driven price and algorithmic supply emissions, though their implementation is where we start to see differences.

@eldarcap @chud_eth also i tried to break it up into discrete sections but sorry for blowing up your replies

the tl;dr is that Olympus engineers for the attributes of digital money that users actually care about: liquidity. credit access. scarcity. the persistence of each. the protocol utilizes it's emissions power toward permanently improving those attributes. this is infinitely more productive and of greater value than alternatives. CDs are the implementation of the emissions structure. not only do they fuel the system upon both conversion (growing treasury and backing -> POL, Cooler, etc) and non-conversion (free fuel to YRF), they also create a new way for users to participate and accelerate the network. the bull case is these attributes and advantages are recognized and OHM is increasingly adopted. the bear case is they are not. the asymmetry is in relatively minimal downside (BTC has depreciated over the past 6 weeks nearly as much as OHM can to backing) and uncapped upside (the network remains very small in the grand scheme of things and still has tremendous room to grow). CDs offer amplified asymmetry with a reduction of upside. up to you to see value in it, but i certainly do.

I would like to coin the term PPP: principal protected ponzi; the worst that can happen to you is you get your money back at a date you decide (no time rug). gov proposal just went live, things moving faster than expected tbh OHM CDs launching in ~1wk only $1m cap to start which will likely get instafilled, then a short capped rollout before opening the floodgates good chance for everyone to watch the system working before being able to ape properly reminder: you deposit USDS, get OHM calls which you can convert any time, protocol uses the sUSDS yield to buy and burn, send OHM up, make your calls worth more something to think about for any of you second order thinkers: if you see someone deposit $100m of deposits which means $4.5m/yr annualized buyback and burns, are you more or less likely to then deposit to CDs yourself? you deposit, and the next guy sees even more programmatic buy pressure incoming, maybe now it's up to $6m/yr. are they now more or less likely to also deposit? yes this is all pure financial engineering, the token is the product, but do you want to play the game?