W o r l d . C r y p t o . G l o b a l

Loading

Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.

Contact Info

CATEGORY: ohm


Jan 23, 2022 07:15

OlympusDAO Plans to Make OHM a Premiere Decentralized Reserve Currency

OlympusDAO, a decentralized reserve protocol published a blueprint detailing its plan to build a robust ecosystem around its native currency OHM. Dubbed as Olympus12, it is a 12-month action plan for how the DeFi protocol will achieve its goal of making its native asset OHM Web3’s premiere decentralized reserve currency. On why developing a reserve currency […]

Jan 15, 2022 07:15

Olympus DAO Explained For Beginners

Who wouldn’t have liked entering the DeFi space during the 2020 DeFi summer when it was at its pinnacle. Returns as high as 20x to 200x made investors surround top DeFi protocol like a bee surrounding a beehive. However, one thing to note nevertheless: everyone wanted high returns at a shorter time frame. So kind of treating the space like a golden goose that lays golden eggs. In case, the goose fails to lay the golden, let’s cut that goose and search for another one that lays golden eggs. Thus summing up the reason why terms like vampire attack, rug-pulls, and getting Rekt overnight floated thick and fast within the DeFi 1.0 ecosystem. 

As a result, the ecosystem wanted more control over the liquidity to make their protocols sustain for long. It was at that point in time when innovations like Olympus DAO swiftly made inroads seeing the success of MakerDAO protocols. However, the protocol did enter the DeFi space with an upside by working on all odds left by the erstwhile algorithmic stablecoin protocols. 

What is Olympus DAO? 

Olympus is a non-pegged stable coin DAO that follows other underlying assets to drive its stability. In order to do that, the protocol mints OHM tokens and releases them into the ecosystem. When the token supply increases, the Olympus protocol burns the OHM tokens, and when the supply decreases, the protocol mints more OHM tokens to stabilize its price. Thus working more like algorithmic stable coins. 

? Click here to Buy OHM ?

What are Algorithmic Stable Coins and Why are they Needed?

Algorithmic stable coins are programmable money in circulation which works as per the market sentiments(demand-supply paradigm). Since they are backed by a basket of assets with true value, they do not show false records on the books. Hence acting as a more stable and efficient form of stable money in circulation. 

The need for Algorithmic stable coins arose when some of the renowned stable coin ecosystems like the Tether Foundation came under strict scrutiny of the regulatory organizations following a rigged or undervalued balance sheet. However, one may question that other stable coins like USDC and DAI do have an unquestionable track record. Well, there’s no doubt on the same; nevertheless, even they are not immune to false practices of the government to drive money value like the fractional reserve banking method. 

So, the community wanted an ecosystem that stays non-pegged to government assets but could generate the same effect of stability in the currency use. It was at this point where the Olympus protocol achieved that through the OHM token. The OHM token follows a minting and burning method to drive its value. 

The ecosystem works independently by using a basket of currencies to drive OHM’s value. To retain its value always, the Olympus protocol locks LP or liquidity providers money in the OHM token vaults and issues OHM tokens to them at a discounted price. The users need to hold the liquidity for a few days and only after that, they can withdraw the liquidity from the ecosystem.

In this way, the ecosystem remains stabilized and distributed liquidity among a lot of users also avert any rug-pull events like it was seen in the Iron Finance ecosystem. However, while staking your OHM tokens, you may cross across a dilemma whether Olympus V1 is a good bet or the Olympus V2. So, we have taken care of that as well in this article. Read on to know their difference. 

What is Olympus V1 and V2 and The Difference Between the Two?

Olympus V1 & V2

Olympus V1 stood as the first origin of the OHM token that facilitated bonding and taking a basket of accepted cryptocurrencies as collaterals to mint OHM at a discounted rate. Whereas, in V2, users get more exposure to on-chain governance through the introduction of gOHM tokens. On top of this, there are provisions where the protocol will set aside the bond payouts to bonders. Hence, they know that their bonds will earn on time along with all the benefits. This helps in maximizing the efficiency of the protocol. 

Difference Between V1 and V2

V1 doesn’t make the sOHM holders eligible for rebasing awards. However, with the V2 tokens, all the rewards which the V1 token holders have been eligible for will be credited back to them. Along with this, since V1 is more expensive than V2, when you migrate to the V2 ecosystem, you will get more V2 tokens in exchange for  V1’s. 

Hope you have been able to understand in detail about Olympus DAO. If you have plans to buy Olympus DAO anytime soon, make sure to pick reliable cryptocurrency exchanges. Also, keep your crypto safe by storing them in your private cold wallets

© Cryptoticker

The post Olympus DAO Explained For Beginners appeared first on CryptoTicker.

Dec 25, 2021 07:10

Will OHM Crypto End Up as a Strong Contender of DeFi 2.0?

The DeFi market has exploded in the past two years. In 2020, the TVL stood at less than $750 million. Fast forward to 2021, DeFi is standing at $99.61 billion with more than a 10,000% increase. Though an unprecedented leap, yet the market is ripe for innovation. Especially, when users have to safeguard their assets. In such a situation, they look at stable coins. In spite of that, stable coins are not free from their shortcomings. The Tether scam is still simmering bright. In the absence of asset-backed security, algorithmic stable coins make sense. However, they have shown a bad track record. The Iron Finance fiasco haunts many. That brings us to the question of how to stabilize the DeFi market in terms of using stable coins. At this point, to answer these shortcomings, Olympus DAO is making a difference through OHM Tokens. 

What is Olympus DAO and OHM Token?

Olympus DAO is a decentralized reserve currency protocol that overcomes shortcomings of former stable coins where their liquidity remained vulnerable and they were not immune to inflation. The protocol derives the value for its native OHM token through a basket of assets. As a result, OHM, the native  token of Olympus DAO, remains stable and appreciates gradually when compared to other stable  coins over time. In this way, it is a perfect hedge against inflation.

----> Click here to Buy OHM <----

Fig.1 OHM/USD 2021 YTD chart

How does the Olympus DAO Protocol Work?

Olympus DAO uses two strategies for sustainability in the DeFi verse:Staking & Bonding. In staking, users lock their OHM tokens for a specific time frame. They receive sOHM for staking their tokens. At the time they want to capitalise their yield, they have to burn sOHMs to book profits. Whereas, in bonding, the ecosystem provides OHM in exchange for discounted price. The only term would be to lock the tokens for a while. In such a situation, the reserve of Olympus DAO increases. Hence Olympus DAO can mint more OHMs against a basket of other assets and keep the prices stable or even higher. 

Can OHM Be a Strong Contender of DeFi 2.0?

OHM has the potential since the project has cloaked $700 million in assets from its treasury in 7 months. At the same time, OHM's community is one of the strongest in the DeFi space. With the use-case of a perfect hedge against inflation, OHM is the answer to other stable coins backed by fiat. In times of regulations, OHM could end up as a perfect answer to stabilise the DeFi space as a stable token of choice.

OHM crypto© Cryptoticker

The post Will OHM Crypto End Up as a Strong Contender of DeFi 2.0? appeared first on CryptoTicker.

Nov 23, 2021 01:10

“3,3” fame OlympusDAO integrates Chainlink for its no-loss raffles

OlympusDAO has integrated Chainlink VRF on Ethereum mainnet, opening access to a verifiably random number generator that is used to choose winners of our no-loss raffle on the OlympusDAO protocol.

The post “3,3” fame OlympusDAO integrates Chainlink for its no-loss raffles appeared first on CryptoSlate.

Rari Capital doubles TVL to $1B in just two weeks thanks to high yields

Author: Cointelegraph By Martin Young
United States
Oct 13, 2021 08:30

Rari Capital doubles TVL to $1B in just two weeks thanks to high yields

The billion-dollar TVL has been driven by massive yields on the DeFi aggregation platform.

Aug 12, 2023 11:00

Rebase Tokens: A Stunning Collapse From $8 Billion to $351 Million in 20 Months

The crypto winter inflicted a brutal toll on the digital currency landscape, leaving numerous coins with values utterly obliterated. Within this ravaged financial terrain, one specific category — rebase tokens — suffered a tremendous deflation in worth over the previous 20 months. In a stark illustration of this downturn, the total value of the leading [...]

The post Rebase Tokens: A Stunning Collapse From $8 Billion to $351 Million in 20 Months appeared first on Crypto Breaking News.

Stripe tackles 'cold start problem' with the launch of fiat-to-crypto onramp

Author: Cointelegraph By Ciaran Lyons
United States
May 07, 2023 08:20

Stripe tackles 'cold start problem' with the launch of fiat-to-crypto onramp

Web3 companies can utilize the Stripe-hosted fiat-to-crypto onramp to allow their customers to buy crypto at the “precise moment they need it.”

Stripe tackles ‘cold start problem’ with the launch of fiat-to-crypto on-ramp

Author: Cointelegraph By Ciaran Lyons
United States
May 07, 2023 04:40

Stripe tackles ‘cold start problem’ with the launch of fiat-to-crypto on-ramp

Web3 companies can utilize the Stripe-hosted fiat-to-crypto on-ramp to allow customers to buy crypto at the “precise moment they need it.”

Your Crypto Gateway

Claim 1,000
Free WCG Coins

World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.

11 bn

FREE CRYPTO COINS

8.9 bn

AVAILABLE FOR RESERVATION

2.1 bn+

ALREADY ALLOCATED

× WCG Coin

🎉 Get 1,000 WCG Coins

No fees. No catch. Your crypto journey starts here.