OHM

OHM, the native token of OlympusDAO, is a cryptocurrency aiming to be less volatile than traditional digital assets while not being pegged to fiat currencies. It's designed to float based on its treasury's assets and DAO-governed parameters. The token's value is managed through minting and burning mechanisms, with the ultimate goal of becoming a crypto-native currency alternative to fiats like the USD .

OHM operates on a rebasing mechanism, which adjusts the supply to maintain its value. When the market price of OHM exceeds its intrinsic value, more tokens are minted, and when it's below, tokens are bought back and burned. This process is governed by the community through a decentralized autonomous organization (DAO) .

The project has attracted attention for its high APY offered to stakers, which has been as high as 90,000%. This is due to the rebase mechanism that occurs multiple times a day, compounding the returns for token holders .