re: Official CryptoTalk Thread

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Ok yeah I see that now. I'm assuming the gOHM gets converted to sOHM when you stake, same as before.

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gOHM is like a wrapped staked OHM. This is my understanding:

OHM - regular Olympus token. Uses expensive Eth network.

sOHM - staked OHM that receives every 8 hour rebases according to current APY that has voting rights. Uses expensive Eth network.

wsOHM - wrapped staked OHM typically used to avoid taxes after every rebase. No voting rights. Calculated by multiplying the current OHM price times the current index. wsOHM value is effected by OHM market price and the index that gets increased every 8 hours through rebase. Uses both the expensive Eth Network and cheap Avalanche Network.

gOHM - exactly like the wsOHM but with voting rights. gOHM is a governance wrapped staked OHM. Your voting shares are maintained as sOHM on the Olympus app that you connect your wallet so.

Does he actually say he is going to rug or are you just inferring that from the name? Not saying this isn't going to blow up in everyone face as it currently resides in the "too good to be true" column, just curious why you said he is telling you he's going to rug.

the name of it is actually RUGenerous. Both the main devs are doxxed. They just do everything as a play on words. All the governance proposals are called RIP, his meme token from may is called SCAM. Dudes are working their asses off though.

I mean everything in crypto can rug in a heartbeat, and I'm going to pull my original amount invested in the next couple days and let the rest ride. The return rates aren't going to last but earning 15-16% a day is pretty ridic and hard to pass up.

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Does he actually say he is going to rug or are you just inferring that from the name?

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Inferring that from the name.

The APY is listed as "Nice Round Number" and currently when you hover over it the APY is 2,772,030,980,446,742,000,000,000,000%.


I mean I might throw $500 at it but I'm totally willing to lose that money. At the current APY I can turn $500 into $1,115.58 in 5 days if you can sell at your buy price.

The key is selling at your buy price. With that kind of APY the first day adopters will be selling to take profits. Hard to tell whether you will be able to sell at current price. Most of these DAOs have a tendency to shoot up then crash and recover somewhat.

With that said the last time a DAO was offering that kind of APY, well, it rugged (Snowdog).

The overall crypto market is taking a dump today.

The three DAOs I own Olympus, Time and Hector are doing poorly today. Ohm and Time are both down 10%. Hec is down less than 2%.

Both Ohm and Time holders that leverage their staked tokens got liquidated early this morning. That is the key reason for the drop in their prices. That is not an issue for me because I do not play the (9, 9) game.

Leveraging Hec is not an option yet so no one staking Hec was liquidated and the price is relatively stable and just moving with the overall crypto market. With that said Hector will be opening Hector Bank soon and stakers can become lenders (and gain more rewards) for folks that want to play the margin game.

I'm only mentioning this because I've seen this liquidation event before with Olympus. If you were looking to get into OHM now might be the time. After liquidations OHM tends to get a nice price bump the next day due to new capital from new buyers and new (9, 9) players.

I also what to mention something else happening on the OHM discord channel. There are discussions of OHM being listed on a centralized exchange like KuCoin or Coinbase. I mean "normies" that do not play in the defi space get pumped about a 5% APR on Coinbase with some coins. If these guys see they can earn 500-1000% form a centralized exchange next year the price of OHM will likely rocket. It's my understanding that Olympus is in negotiations with an exchange to be listed. I do not know if they will be able to pull it off...we'll just have to wait and see.

ETA: lets get OHM listed on major exchanges

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The overall crypto market is taking a dump today.

The three DAOs I own Olympus, Time and Hector are doing poorly today. Ohm and Time are both down 10%. Hec is down less than 2%.

Both Ohm and Time holders that leverage their staked tokens got liquidated early this morning. That is the key reason for the drop in their prices. That is not an issue for me because I do not play the (9, 9) game.

Leveraging Hec is not an option yet so no one staking Hec was liquidated and the price is relatively stable and just moving with the overall crypto market. With that said Hector will be opening Hector Bank soon and stakers can become lenders (and gain more rewards) for folks that want to play the margin game.

I'm only mentioning this because I've seen this liquidation event before with Olympus. If you were looking to get into OHM now might be the time. After liquidations OHM tends to get a nice price bump the next day due to new capital from new buyers and new (9, 9) players.

I also what to mention something else happening on the OHM discord channel. There are discussions of OHM being listed on a centralized exchange like KuCoin or Coinbase. I mean "normies" that do not play in the defi space get pumped about a 5% APR on Coinbase with some coins. If these guys see they can earn 500-1000% form a centralized exchange next year the price of OHM will likely rocket. It's my understanding that Olympus is in negotiations with an exchange to be listed. I do not know if they will be able to pull it off...we'll just have to wait and see.

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this one I assume? LINK

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Yes. That is Olympus/OHM.

They were the first. When you here the term OHM fork it just means OHM copycat. (Sorry if you already knew that.)

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Thanks, looking for some fork investments. I have a couple already.

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I was able to get wsOHM on avax with trader Joe. Then wrapped that into gOHM on olympus. Only issue was it took a while to show up so I was afraid it had been lost.

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Never used trader joe.. I assume I can connect it through my TW.

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LUNA

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ouch