HUGE shoutout to The Calculator Guy for making amazing DeFi calculators and helping us to explain Olympus so well, go see his own videos: ruclips.net/user/williamhenkel
How is this not a ponzi if early investor gets paid by getting new investors' money (new investors buys OHM)? This needs new ppl keep buying OHM forever.
I love this channel, but you really messed up at 7:50. Nash equilibrium in this game is ACTUALLY at the top left (-6,-6), not the bottom right. This is telling for Olympus Dao, because game theory predicts that the project will actually fail because each individual acting rationally will sell.
omg you don't know how much time I spent into reading those OlympicDAO docs and still don't understand a word from it, you helped me a lot brother, a Proof of Burn explanation video in the future is nice
How does this video completely miss the horrible tokenomics. You can’t just print a $700 token every time someone puts in $1. This only works if no one sells.
@@SecretDogPillow and that is also how banks work. It will only work if everyone hold. What do you think will happen if everyone take out their money from bank?. That is also why the 3,3 meme comes out.
@@ribertfranhanreagen9821 It’s a matter of degree. If you want to make a bank analogy: Imagine your bank increases the amount of dollars listed on your balance by 8,000% each year, but meanwhile its actual cash reserves are only increasing by 20%. How long could it sustain that until it runs out of money? A bank also generally has deposit insurance. If my credit union runs out of money because of a bank run, my deposit is guaranteed by the FDIC. Here, not so much.
@@SecretDogPillow both is on different stage. This dao so early that they need to interest people so people use it and trust it. As for bank it has reached a stage where we pay them to take our money, and get number as exchange. Yes it's guarantee by goverment.but incase it happen how many you think will really get reimbursed?
There is also a project JumboDefi of the same model on the BSC. It has just started a few weeks now. Baking per token is 75, but the price is only 150. The market cap is only 3 million. If it can grow to the same market cap as Olympus, then there is a 1,000 times profit margin.
The age of Defi2.0 has come. Compared with defi1.0, there are many improvements and innovations in the system, which will not cause the price to fall and crush. The JUMBODEFI with BSC has many innovations
Today I've actually spent half a day trying to understand OlympusDAO and still not fully understood it. After your video it's crystal clear :) Great job guys, beautifully made.
Oops, right off the bat, its not a stablecoin or meant to be one. Its a reserve currency. You could build a stablecoin which pegs its value to OHM but OHM is not a stablecoin. :)
@@rumortrader2143 Incorrect. It isn't pegged, its backed. OHM is backed by many more assets besides DAI. At inception, each OHM was -worth- at least 1 DAI but its value was not pegged to said DAI - that was only the value they established at inception. From the instant the first OHM came into existence its value, what its worth, went up - it wasn't worth 1 DAI anymore, because its not pegged to it. :)
Your videos have been amazing. Good work. Just one thing to point out, the Game Theory predicts both prisoners will confess, instead of deny, in the Prisoners' Dilenmma case presented in this video. In that situation, prisoners cannot cooperate
3:19 "Backing assets will keep the price [of OHM stable] until supply increases" needs to be changed to one of "backing assets will keep the price WHILE supply increases" or "backing assets will keep the price until DEMAND increases", because increasing supply of OHM actually leads to OHM price going down. Unless I'm missing something obvious here?
Backing assets will keep the floor price of Ohm stable so long supply doesn't increase. Now if supply increases because of demand, the demand would maintain or increase the floor price. However, Olympus also mints Ohm so that it can give Ohm to staker as APY. This would lead to a reduction in floor price.
That you so much! New subscriber here!! Patty XRP and Mickey B. Fresh suggested looking into Olympus to better understand what CanaryX Dao will be like on the songbird network. This was an incredible explanation of something that is rather difficult to understand. 🙏🏾 You are appreciated
Hey! Please open up a section somewhere where users can suggest video topics! There’s a couple things I don’t understand here and there and would love an explanation by you
My understanding of the prisoner's dilemma is that it is always in your best interest to confess regardless of what your friend does. So while it doesn't give the best result, the rational person would confess.
The conclusion drawn on the prisoner's dilemma is incorrect. Game theory suggests that although the decision to not confess by both suspects provides the more optimal payoff, it is not a rational option because both parties behave in their self-interest. On the other hand, the decision to confess is a rational decision from that perspective and it provides the Nash equilibrium despite the worse payoff. Edit: It's just an error made on that particular line in the script because as you continued onto the following slide you treated it correctly.
Each criminal would not know what the other criminal in the system is going to do. Game theory actually says that the rational criminal would choose to confess, because they can receive the best treatment, 0. If they were to not confess, they are relying on the other CRIMINAL to not confess, which if they do, they get -10 and the other criminal gets off free. This is game theory that works in favor of law enforcement because it almost always results in both criminals confessing, thus earning law enforcement the maximum net penalty possible (-6, -6).
All this collaboration with some of my other favorite crypto RUclipsrs nowadays is so great to see. I'm sorry I wasn't subscribed to you before, but I am now!
Summing up: ponzis are getting more elaborate. There's tons of articles on medium explaining the ponzinomics of OHM and others, while not clashing with the info on this video, which was beautifully made, don't get me wrong, the community adds a cherry on top of the ponzi and it's beautiful to see.
Your Game theory part is wrong. The prisoners dilemma has one Nash equilibrium and that it both confessing. Because if anything single one deviates from this strategy they will not benefit. However in the case of both dyeing to confess, a single person would always benefit from deviating from that strategy. Otherwise great video.
I subscribed to your news letter great info, Question can you explain why ohm v2 was created and why v1 is being replaced and are we supposed to stake v2 only or is v1 stakable? A little lost
"Is actually backed by something unlike than the US dollar" - bruh OHM is backed by another stablecoin which is backed by fiat... Edit: This comment isn't technically correct but like I said in the replies, a DAI token's value is essentially the value of a dollar so if you're backed by stablecoins you're backed by fiat. OHM inherits all of the same pains of centralized monetary policy.
False. Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it's backed by collateral on the Maker platform.
@@Luna-pm1yr Sorry, let me be more precise. It's value is propped up by the value of the dollar. So even though DAI isn't backed by dollar reserves, OHM is effectively backed by fiat.
@@Luna-pm1yr That's only partly true because Dai is not only backed by crypto, but also by some centralized stable coins like Tether which is supposedly backed by US dollar. Even if we disregard this, Dai is still a stablecoin that's pegged to the dollar and will suffer from all the problems that the dollar suffers from, that is, higher and higher inflation, to the point that it will be more fitting to call them inflation coins instead of stablecoins.
yeah, but they're both governed by DAOs. if it starts to become a bad idea to peg their currencies to dollars they can find another asset and back it to that. The only reason to use dollars or any other fiat peg is to make it easier to interact outside of crypto,. if another cryptocurrency gains mass adoption IRL it's likely stablecoins will become useless. They also have other use cases: take funds out of volatile assets without converting to fiat (and paying those fees/taxes), and stablecoins can move much faster than fiat, there are other use cases as well. I've heard of a concept called a flatcoin which would be a cryptocurrency designed to be stable but not pegged to fiat, but haven't researched it much.
On 5:53 "When Ohm is backed by more than it needs, it prints more Ohm token and gives back to the stakers". Does 'more than it needs' means more than 1 Dai i.e. $1 ? If that's the case, how come the floor price of each Ohm token is not just $1 but a lot more ? Hope someone can clarify this.
Lemme try. Ohm is backed by at least 1 Dai. So the minimum Ohm could ever reach would be $1 because it’s physically backed by 1 Dai. The “extra” value that it holds is obtained from Olympus selling bonds. People have to pay Olympus with ether which is all collected by the treasury because Ohm only needs to be back by one Dai so the rest is profit. Since all this money is “added on” Olympus is able to add all the remaining coins to the stakers. *sell a bond for $1000, $999 gets paid to stakers*
Something to keep in mind for those evaluating Olympus vs its clones: the ecosystem of which chain the protocol is on and what tokens are used for backing the treasury, will greatly impact inflows into the protocol. For example, Wonderland TIME benefits from the Avalanche chain because it's cheaper than Ethereum and people are bridging there for Rush rewards. It also benefits from the popularity of MIM and the leverage from Abracadabra. An Olympus clone can be great on it's own, but if the chain or backing tokens are not getting inflows, then it will be hard for the DAO to get inflows and keep up price and APY.
Can you explain what the purpose of this project is? After doing some preliminary research into Hector DAO, Redacted DAO, and now Olympus DAO, I get the sense that these projects aren't really doing anything. They seem like memecoins, except backed by game theory instead of by 'meme energy'.
I think you made a small mistake, the game theory of the prisoners dilemma says that if both criminals are rational both would chose to confess, but it would be better for both to not confess, hence the dilemma.
Hoohh if you want the best cumulative outcome, it is best for both to not confess (and agree to not confess with each other). However, the dilemma is that you do not get go agree/talk with each other, making it most rational for you to always confess, since whatever your partner says, you will always get the best outcome for yourself
Can you refer me to any videos you have of an overview of how the entire crypto is laid out? This is still really confusing to grasp unlike the stock market.
I am a bit confused. What is the point on bonding to add basket of assets to the treasury? They could have sold minted tokens for ETH, BTC etc and added directly to the treasury. Can you please explain?
which software you use to make this presentation ? like drawing and slides and at last all in one screen. I like your hard work Waiting for your reply Thanks
Honest question: So the treasury gets more and more ETH etc due to bonding. What pretends the devs to not steal this ETH etc and leave us alone with then useless OHM tokens?
Decentralization. Once you've published your contract in the blockchain, it will be executed by other people's computers all over the planet, and from that point you can't make changes to its behavior. Olympus has published their algorithm and it's out there for everyone to inspect. We lamers rely on the fact that people who are smarter than us have inspected the Olympus smart contract and found it to be reliable and haven't found any point where the creators could exploit it in the way you suggest.
Thx for the answers. I didn't know that the open-source code of OHM literally prohibits that kind of behavior. Ok then let's trust the smarter guys that are checking the code and haven't found some major issues so far.
@@phoneywheeze but if everybody stakes, then there will be no one minting/buying the bonds, so the protocol will not earn profit? so how they continue to deliver the high APY to those who stake ?
@@Jason-ru7xt yes, some other forks like Time wonderland sell the staked liquidity to other projects iirc. idk about olympus and yeah they definitely won't be able to maintain this high apy
Hey bro, i just got into the space please so i started Watching your videos from the beginning, i noticed some ecosystems have evolved while some have gone to dust. So i subscribe to the newsletter but i haven't been getting any messages and also how can i get into the discord. Thank you
sooo, the tressury is coming from the fees of people staking their money? The same people that want to earn money and in the end make profit? What if the APY drops? Everyone will unstake which is going to start a ccascade of pricedrop, until the treasury is depleted and then the Olympus holders will be screwed. It's not a question IF it happens, the question is, when it happens. Unlike eG ETH, which has actual use cases, like UNI or borrowing/lending, which brings in a lot of revenue thanks to fees
Copypasted from their website: "The main benefit for stakers comes from supply growth. The protocol mints new OHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit."
@@Blank.Spac3 the more OHM tokens are minted and released, the more the price of one OHM drops. And well rebuying it sounds nice in theory, but doesn't hange anything.
@@thomasthereal4067 the price isnt supposed to drop because when its minted, all the stakers get extra tokens, thus creating an incentive to not unstake
Great analysis, thank you! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
HUGE shoutout to The Calculator Guy for making amazing DeFi calculators and helping us to explain Olympus so well, go see his own videos: ruclips.net/user/williamhenkel
Also can you do videos on (MANA and SandBOX also) the metaverse cryptos too please?? Thank you ♥️🤔🤔
Please, please make a video on Wonderland's TIME.
How is this not a ponzi if early investor gets paid by getting new investors' money (new investors buys OHM)? This needs new ppl keep buying OHM forever.
Is that a scam right below an official account?
@@abhimanyupandey5131 ye chutiya banane ka scheme hai
I love this channel, but you really messed up at 7:50. Nash equilibrium in this game is ACTUALLY at the top left (-6,-6), not the bottom right. This is telling for Olympus Dao, because game theory predicts that the project will actually fail because each individual acting rationally will sell.
Happening before our eyes
omg you don't know how much time I spent into reading those OlympicDAO docs and still don't understand a word from it, you helped me a lot brother, a Proof of Burn explanation video in the future is nice
Thank you for covering Olympus DAO, I have been in it for a few weeks and more people need to know about it! This project is huge!!
Very huge
I been watching the Calculator guy from 2 months now, nice to see this colaboración between 2 of my favorite channels
(3,3) means if we all stay in the ponzi scheme, we all win
How does this video completely miss the horrible tokenomics. You can’t just print a $700 token every time someone puts in $1. This only works if no one sells.
@@SecretDogPillow and that is also how banks work. It will only work if everyone hold. What do you think will happen if everyone take out their money from bank?. That is also why the 3,3 meme comes out.
@@ribertfranhanreagen9821 It’s a matter of degree. If you want to make a bank analogy: Imagine your bank increases the amount of dollars listed on your balance by 8,000% each year, but meanwhile its actual cash reserves are only increasing by 20%. How long could it sustain that until it runs out of money?
A bank also generally has deposit insurance. If my credit union runs out of money because of a bank run, my deposit is guaranteed by the FDIC. Here, not so much.
@@SecretDogPillow both is on different stage. This dao so early that they need to interest people so people use it and trust it. As for bank it has reached a stage where we pay them to take our money, and get number as exchange.
Yes it's guarantee by goverment.but incase it happen how many you think will really get reimbursed?
@@SecretDogPillow LOL. Did you just make that up? That’s not how it works whatsoever 😂
There is also a project JumboDefi of the same model on the BSC. It has just started a few weeks now. Baking per token is 75, but the price is only 150. The market cap is only 3 million. If it can grow to the same market cap as Olympus, then there is a 1,000 times profit margin.
The age of Defi2.0 has come. Compared with defi1.0, there are many improvements and innovations in the system, which will not cause the price to fall and crush. The JUMBODEFI with BSC has many innovations
were not interested in your shitcoin fork that will be gone in less than 2.5 months
Whiteboard crypto to the moon!!!
I've NEVER seen a project explained in the easiest term like this❤ Thanks Whiteboard crypto, I now understand what OHM is🙏
I think this is all orchestrated to make both parties rich except the watchers... It might be a Ponzi scheme guys ...
Is it my message that is "bot message" or did I by any means tell you I was about to buy anything?
@@direktachigson5730 yeah buddy, it sounds like your adding the project credibility
Today I've actually spent half a day trying to understand OlympusDAO and still not fully understood it. After your video it's crystal clear :) Great job guys, beautifully made.
I put dollars down and I still don't understand it 😅
There's still a lot that isn't explained, but I do think it is a very helpful video.
@@kangamagic1206 Agree ... You can't just explain how Olympus works in 10 min. It is a very complex algorithm.
▆ ▇ █ 十𝟭𝟯𝟮𝟯6𝟰𝟳𝟴𝟴𝟳𝟰%** 🎀
Oops, right off the bat, its not a stablecoin or meant to be one. Its a reserve currency. You could build a stablecoin which pegs its value to OHM but OHM is not a stablecoin. :)
You are correct! That's my bad 😖
ahhhh, now i understand, thanks you
@@WhiteboardCrypto but as per it's working method it work like stable coin. Am I correct ??
It is a pegged coin tho. Pegged to 1 DAI which itself is pegged to 1 USD.
@@rumortrader2143 Incorrect. It isn't pegged, its backed. OHM is backed by many more assets besides DAI. At inception, each OHM was -worth- at least 1 DAI but its value was not pegged to said DAI - that was only the value they established at inception. From the instant the first OHM came into existence its value, what its worth, went up - it wasn't worth 1 DAI anymore, because its not pegged to it. :)
So glad you finally covered this! I'm an OHMie and I really believe in what the DAO is creating!
What is the DAO creating? It doesn't seem to be "doing" anything at all.
@@kangamagic1206 it's doing something... dumping
@@lionkai22 and staked OHM only dropped from 90% to 86%...
@@user-elias123 dumping.
This is the most elaborate bubble ever. It even ends up with the owner winning instead of going to jail. Simply beautiful
could you elaborate?
wow your channel has grown so much!
I remember watching ur videos at 8k subs and now ur pm hundred k?? congrats broo
Thankss~~~~
great video, i was one of the people asking for a ohm and wonderland video, thanks for it
Your videos have been amazing. Good work. Just one thing to point out, the Game Theory predicts both prisoners will confess, instead of deny, in the Prisoners' Dilenmma case presented in this video. In that situation, prisoners cannot cooperate
Thats what happened when some people started selling. It was a freefall from 1400$ to 64$ in a short span of time.
Best video about OlympusDAO I've seen so far. Thank you
3:19 "Backing assets will keep the price [of OHM stable] until supply increases" needs to be changed to one of "backing assets will keep the price WHILE supply increases" or "backing assets will keep the price until DEMAND increases", because increasing supply of OHM actually leads to OHM price going down. Unless I'm missing something obvious here?
Backing assets will keep the floor price of Ohm stable so long supply doesn't increase. Now if supply increases because of demand, the demand would maintain or increase the floor price. However, Olympus also mints Ohm so that it can give Ohm to staker as APY. This would lead to a reduction in floor price.
▆ ▇ █ 十𝟭𝟯𝟮𝟯6𝟰𝟳𝟴𝟴𝟳𝟰%** 🎀
Smashing the like button before even seeing the video
@@jimcrypt0618 nice try
That you so much! New subscriber here!! Patty XRP and Mickey B. Fresh suggested looking into Olympus to better understand what CanaryX Dao will be like on the songbird network. This was an incredible explanation of something that is rather difficult to understand. 🙏🏾 You are appreciated
Now that we covered Olympus Dao, let's cover the other two, Time Wonderland and Klima Dao as well?
Thankss~~~~
Well Done, Much Appreciated~
May you do a video on
the difference between
Wonderland,
Klima & Olympus? PLS
Hey! Please open up a section somewhere where users can suggest video topics! There’s a couple things I don’t understand here and there and would love an explanation by you
Will have to watch this twice 😂 great job 👍
My understanding of the prisoner's dilemma is that it is always in your best interest to confess regardless of what your friend does. So while it doesn't give the best result, the rational person would confess.
Thankss~~~~
The conclusion drawn on the prisoner's dilemma is incorrect. Game theory suggests that although the decision to not confess by both suspects provides the more optimal payoff, it is not a rational option because both parties behave in their self-interest. On the other hand, the decision to confess is a rational decision from that perspective and it provides the Nash equilibrium despite the worse payoff.
Edit: It's just an error made on that particular line in the script because as you continued onto the following slide you treated it correctly.
▆ ▇ █ 十𝟭𝟯𝟮𝟯6𝟰𝟳𝟴𝟴𝟳𝟰%** 🎀
Each criminal would not know what the other criminal in the system is going to do. Game theory actually says that the rational criminal would choose to confess, because they can receive the best treatment, 0. If they were to not confess, they are relying on the other CRIMINAL to not confess, which if they do, they get -10 and the other criminal gets off free. This is game theory that works in favor of law enforcement because it almost always results in both criminals confessing, thus earning law enforcement the maximum net penalty possible (-6, -6).
this only happens in aemrica because they don't teach math there
@@blue7lvn245 lol 🤣
▆ ▇ █ 十𝟭𝟯𝟮𝟯6𝟰𝟳𝟴𝟴𝟳𝟰%** 🎀
It's really fun to see your videos! It was how I ventured into the vast space of blockchain technology!
▆ ▇ █ 十𝟭𝟯𝟮𝟯6𝟰𝟳𝟴𝟴𝟳𝟰%** 🎀
This was a great explanation and shoutout to the Calculator Guy! Happy to see you both collaborate more often : )
Can you make a video about Wonderland Dao?
Hit me up immediately ☝️☝️🚀🚀...
This was a superb video!
All this collaboration with some of my other favorite crypto RUclipsrs nowadays is so great to see. I'm sorry I wasn't subscribed to you before, but I am now!
Thankss~~~~
Very thorough! Highly appreciated!
Great explanation! Is Wonderland TIME next?
Hit me up immediately ☝️☝️🚀🚀
Summing up: ponzis are getting more elaborate.
There's tons of articles on medium explaining the ponzinomics of OHM and others, while not clashing with the info on this video, which was beautifully made, don't get me wrong, the community adds a cherry on top of the ponzi and it's beautiful to see.
could you elaborate?
Love this channel... please keep it coming ❤
Thankss~~~~
Great video. I am so glad you included the Calculator guy. I watch his vids too. Massive respect for you.
Your Game theory part is wrong. The prisoners dilemma has one Nash equilibrium and that it both confessing. Because if anything single one deviates from this strategy they will not benefit. However in the case of both dyeing to confess, a single person would always benefit from deviating from that strategy. Otherwise great video.
You and your content just one word = Awesome!
Love from India
I like the way you explain! Good job!💪
Great content.
Hit me up immediately ☝️☝️🚀🚀...
I subscribed to your news letter great info, Question can you explain why ohm v2 was created and why v1 is being replaced and are we supposed to stake v2 only or is v1 stakable? A little lost
Omg the best explantion for rebase token. Thanks kindly ser!
"Is actually backed by something unlike than the US dollar" - bruh OHM is backed by another stablecoin which is backed by fiat...
Edit: This comment isn't technically correct but like I said in the replies, a DAI token's value is essentially the value of a dollar so if you're backed by stablecoins you're backed by fiat. OHM inherits all of the same pains of centralized monetary policy.
You won.
False. Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it's backed by collateral on the Maker platform.
@@Luna-pm1yr Sorry, let me be more precise. It's value is propped up by the value of the dollar. So even though DAI isn't backed by dollar reserves, OHM is effectively backed by fiat.
@@Luna-pm1yr That's only partly true because Dai is not only backed by crypto, but also by some centralized stable coins like Tether which is supposedly backed by US dollar. Even if we disregard this, Dai is still a stablecoin that's pegged to the dollar and will suffer from all the problems that the dollar suffers from, that is, higher and higher inflation, to the point that it will be more fitting to call them inflation coins instead of stablecoins.
yeah, but they're both governed by DAOs. if it starts to become a bad idea to peg their currencies to dollars they can find another asset and back it to that. The only reason to use dollars or any other fiat peg is to make it easier to interact outside of crypto,. if another cryptocurrency gains mass adoption IRL it's likely stablecoins will become useless. They also have other use cases: take funds out of volatile assets without converting to fiat (and paying those fees/taxes), and stablecoins can move much faster than fiat, there are other use cases as well. I've heard of a concept called a flatcoin which would be a cryptocurrency designed to be stable but not pegged to fiat, but haven't researched it much.
I don't understand how to take profit if it's bad to sell for the game theory, when should you get profit?
great project, 1 of my best investments of the last months
Hit me up immediately ☝️☝️🚀🚀...
It was very good to see things that I did not know after watching the video
On 5:53 "When Ohm is backed by more than it needs, it prints more Ohm token and gives back to the stakers". Does 'more than it needs' means more than 1 Dai i.e. $1 ? If that's the case, how come the floor price of each Ohm token is not just $1 but a lot more ? Hope someone can clarify this.
Lemme try. Ohm is backed by at least 1 Dai. So the minimum Ohm could ever reach would be $1 because it’s physically backed by 1 Dai. The “extra” value that it holds is obtained from Olympus selling bonds. People have to pay Olympus with ether which is all collected by the treasury because Ohm only needs to be back by one Dai so the rest is profit. Since all this money is “added on” Olympus is able to add all the remaining coins to the stakers. *sell a bond for $1000, $999 gets paid to stakers*
Spartacus crypto, it's brand new (high risk, high reward) plus it's on fantom opera network so the fees are a fraction of what Ethereum gas fees are.
Not trying to shill btw. Just fomo kicked in hard when I discovered OHM.
Something to keep in mind for those evaluating Olympus vs its clones: the ecosystem of which chain the protocol is on and what tokens are used for backing the treasury, will greatly impact inflows into the protocol. For example, Wonderland TIME benefits from the Avalanche chain because it's cheaper than Ethereum and people are bridging there for Rush rewards. It also benefits from the popularity of MIM and the leverage from Abracadabra. An Olympus clone can be great on it's own, but if the chain or backing tokens are not getting inflows, then it will be hard for the DAO to get inflows and keep up price and APY.
yeah i want time benefits bad and wonderland heard snowbank got rugged
Are you in Wonderland or just know about it?
where did you get this information bro? can you teach me where to start?
The gas fees for Olympus is way more than Time.
Can you explain what the purpose of this project is? After doing some preliminary research into Hector DAO, Redacted DAO, and now Olympus DAO, I get the sense that these projects aren't really doing anything. They seem like memecoins, except backed by game theory instead of by 'meme energy'.
Can you cover decentraland? Or any of the metaverse coin tbh
Thankss~~~~
@whiteboard crypto awesome video!! i already watched all your videos! which tool do you use to create these outstanding whiteboard videos?
Can you cover Loopring and its probable collaboration with GME? Curious to see what you think.
Thankss~~~~
What software you use to make this video that way, please show me it's name?
Check time wonderland as well!
Hit me up immediately ☝️☝️🚀🚀...
I think you made a small mistake, the game theory of the prisoners dilemma says that if both criminals are rational both would chose to confess, but it would be better for both to not confess, hence the dilemma.
Its the other way around
@@ivanbro1208 check wikipedia
@@shillcoin9898 i could edit that wikipedia, you know that right?
Lol
Hoohh if you want the best cumulative outcome, it is best for both to not confess (and agree to not confess with each other). However, the dilemma is that you do not get go agree/talk with each other, making it most rational for you to always confess, since whatever your partner says, you will always get the best outcome for yourself
the discord link doesnt work in my country
This is great! I still have no idea what it is
What a beautiful explaination. Thanks man
This video is amazing! Thank u!
why don't you have any texts from video on your website anymore?
What is the runway?
I really enjoy there are tons of new ideas and creations in the Defi world lol
Thankss~~~~
Appreciate the efforts 🙌
Great job Whiteboard Crypto
Thanks for watching send a direct msg right away for more information
WhatsApp✚15043507453
How to create such animations? What software to use and do I need a tablet?
Nice video. Have you heard about DiamondBankDao? Can you do also a video on this? I heard they are going to be the next best DAO.
will there be any circumstances that the tresury will decrease?
Sir is watsapp a spam account ??
Amazing explanation!
Thankss~~~~
Hi, can I unstake anytime I want?
Hit me up immediately ☝️☝️🚀🚀🚀...........
Hit me up immediately ☝️☝️🚀🚀🚀...........
Can you refer me to any videos you have of an overview of how the entire crypto is laid out? This is still really confusing to grasp unlike the stock market.
Simple, concise 👍 thank you
Great video! I am a fan of Klima DAO which is a fork from OHM
Thanks for watching send a direct msg right away for more information
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How does this compare to Djed on Cardano or SigmaUSD on Ergo?
Amazing explanation! Thanks💯
I was literally researching on DAOs rn n then this video dropped, well explained mate
Van you make a video on loopring?
Please brother tell me the software names that you use in your videos and how you make this type of video. Please..
Thank you for your research!
I am a bit confused. What is the point on bonding to add basket of assets to the treasury? They could have sold minted tokens for ETH, BTC etc and added directly to the treasury. Can you please explain?
which software you use to make this presentation ?
like drawing and slides and at last all in one screen.
I like your hard work
Waiting for your reply
Thanks
What are the fees
Thanks a lot for this video. Please are you going to do a video about Klima DAO as well
The comments on this video are 🔥
Great explanation!!
So is that a twisted version of Terra?
It's like recycling a supply to preserve value while earning it for stake holders?
please make a video on wrapping ohms and wrapped staked ohm
I had a question that instead of using stakeholders, why can't directly treasury do what stakeholders do ?? Ya it will not profit stakeholders
Honest question:
So the treasury gets more and more ETH etc due to bonding. What pretends the devs to not steal this ETH etc and leave us alone with then useless OHM tokens?
Decentralization. Once you've published your contract in the blockchain, it will be executed by other people's computers all over the planet, and from that point you can't make changes to its behavior. Olympus has published their algorithm and it's out there for everyone to inspect. We lamers rely on the fact that people who are smarter than us have inspected the Olympus smart contract and found it to be reliable and haven't found any point where the creators could exploit it in the way you suggest.
That's the risk that how rug pulls are done.
Thx for the answers. I didn't know that the open-source code of OHM literally prohibits that kind of behavior. Ok then let's trust the smarter guys that are checking the code and haven't found some major issues so far.
@@SergeyNeskhodovskiy have they been audited? And by who?
@@Irishhound :) +1
Damn man thank you for let me finally understand Defi 2.0 ;)
Thankss~~~~
Peace.. Shalom.. Salam.. Namaste and Thank You for All that you are doing for World Peace.. 🙏🏻 😊 🌈 ✌ 🌷 ☮️ ❤️
Thankss~~~~
So essentially for ohm to properly and efficiently work you everyone would have to only stake?
Yes
@@phoneywheeze but if everybody stakes, then there will be no one minting/buying the bonds, so the protocol will not earn profit? so how they continue to deliver the high APY to those who stake ?
@@Jason-ru7xt yes, some other forks like Time wonderland sell the staked liquidity to other projects iirc. idk about olympus and yeah they definitely won't be able to maintain this high apy
Make video on time wonderland
You have to ask .. why does one need a reserve currency since we already have soo many reserve currencies
Hey bro, i just got into the space please so i started Watching your videos from the beginning, i noticed some ecosystems have evolved while some have gone to dust. So i subscribe to the newsletter but i haven't been getting any messages and also how can i get into the discord. Thank you
sooo, the tressury is coming from the fees of people staking their money?
The same people that want to earn money and in the end make profit?
What if the APY drops? Everyone will unstake which is going to start a ccascade of pricedrop, until the treasury is depleted and then the Olympus holders will be screwed.
It's not a question IF it happens, the question is, when it happens.
Unlike eG ETH, which has actual use cases, like UNI or borrowing/lending, which brings in a lot of revenue thanks to fees
Copypasted from their website:
"The main benefit for stakers comes from supply growth. The protocol mints new OHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit."
@@Blank.Spac3 the more OHM tokens are minted and released, the more the price of one OHM drops.
And well rebuying it sounds nice in theory, but doesn't hange anything.
@qgedave but if people unstake and thus sell their coins the price of OHM drops again
@qgedave well, someday it will crash, I'm not saying YOU can't make money out of it. Same with a pyramid scheme and investing into a bubble.
@@thomasthereal4067 the price isnt supposed to drop because when its minted, all the stakers get extra tokens, thus creating an incentive to not unstake
Can you differentiate Olympus from Wonderland?
Olympus is on ETH, Wonderland is on AVAX
And Wonderland benefits from the MIM/Abracadabra ecosystem
Great analysis, thank you! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?