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Olympus Dao Community Votes to Buy More ETH in Favor of OHM Token

By Simon LawsonApril 18, 20231 Min Read
Olympus Dao Community Votes to Buy More ETH in Favor of OHM Token
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Decentralized storage project Olympus plans to buy more ether (ETH) to back its OHM token after members approved a new reserve fund framework on Friday.

According to the proposal, about $16 million worth of DAI and $20 million worth of ETH are deployed in the current POL pool.

While the finance team recognizes the importance of pools, it is recommended to reduce the OHM/ETH pool by $10M (and possibly increase the OHM/DAI pool) and increase the funds available for LSD or other ETH opportunities.

ETH liquidity can be supplemented through BLE pools and/or other third-party liquidity.

Relwyn, an anonymous analyst with the Olympus financial team, said that the goal is 75% stable currency and 25% directional exposure, and a slight increase in ETH exposure without compromising the relative stability of OHM’s short-term support is A step in that direction.

Purchasing additional ETH through community votes will allow Olympus to maintain a more balanced reserve fund, providing greater liquidity to the OHM token and increasing its long-term growth potential.

Olympus DAO continues to demonstrate its commitment to creating a sustainable and decentralized financial system that benefits all participants.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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