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Saturday, October 16, 2021

OHM Price About To Reach A New High

OHM is one of the biggest rebase projects that have been able to capture the attention of several in the crypto sector over the last six months. This has largely been the result thanks to the extremely high yield which was offered to its stakes, which stand currently above 7,000%.

The rebate model has been one of the main tokenomic models which have undergone quite a few variants over the last year. This has been designed in such a way that the token balances are able to fluctuate over time as it depends on the changes in the price and the supply of the token in circulation. 

OHM Chasing a New ATH

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The rapidly evolving ecosystem of blockchain technology does offer quite a wide range of approaches, amongst which tokenomic models which are aimed towards finding a solution to the blockchain trilemma of building a stable, decentralized, and secure network have been finding some solid ground.

In any case, what sets OHM apart from the other protocols currently in the market is that instead of having the main token fluctuate around the price of a single dollar, the protocol is an algorithmic reserve that has been backed by a whole bunch of assets. 

The main approach which the users of OHM use are by increasing the portfolio value through staking Olympus on the protocol in order to earn rebase rewards. Rebase rewards are simply paid for by the proceeds which come through the sale of bonds on the network and can definitely fluctuate- depending on the number of sold bonds. 

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The big strategy behind the network staking involves locking OHM on the protocol for a time period so that even if the market price goes down below the initial price of purchase, the increase in the balance of the staked protocol should go out and overtake the price fall, thereby leading to a major increase in the total value of the protocol.

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