OlympusDAO Initiates Partnership with a DeFi Protocol Balancer

Wonderland Co-founder and CFO is Ex-Convict QuadrigaCX Co-founder

OlympusDAO, a decentralized reserve currency, is officially associated with Balancer, leading DeFi protocol. Through this partnership, OlympusDAO will initiate its own token $OHM as a liquid asset within the Balancer ecosystem. 

Interestingly, Balancer is a DeFi protocol built on the Ethereum blockchain which offers innovative solutions to fix the issues that arise on traditional and centralized exchanges. 

As Balancer possesses unique structure, benefitting protocols and new features of LBP funding programs it provides a one-stop-shop solution for liquidity management. 

More so, $OHM liquidity migration will open a way for Olympus Pro partners to leverage Balancer’s Liquidity Bootstrapping Pools (LBPs).  In addition, CopperLaunch and PrimeDAO are aligned with Balancer protocol which allows the projects to raise funds in $OHM. Moreover, Copper and PrimeDAO’s front-end facilitators of the LBPs will add $OHM as a trading pair/collateral token.

$OHM as Liquid asset on Balancer

With respect to the collaboration, initially OlympusDAO will deploy $50 million of liquidity to Balancer Protocol. And the community targets to access $OHM via $DAI and $WETH setting low price structures as its primary goal. Further, the allocated points will hold $25 million $OHM and $12.5 million each of $DAI and $ETH. 

Besides, in the period of migration, the first iteration will be a DAI/ETH – 50/50 deployment. And the OHM/ETH/DAI – 50/25/25 Balancer liquidity pool integrated by Olympus will boost the OHM network effects, increase the volume exposures and enhance the efficiency and utility of the liquidity. 

Additionally, Balancer Protocol’s unique work structure enables the $OHM liquidity to aggregate with both exchange assets (WETH and DAI). Thus, it results in liquidity across two separate pools of OHM-DAI and OHM-WETH. 

Moreover, the best part of collaborating with Balancer Protocol is, it provides a flexible solution for the liquidity management. Thereby solving more than just price impact is possible and can be executed in parallel to minimizing liquidity fragmentation. 

Furthermore, OlympusDAO ecosystem fetches greater support and value through all features of Balancer Protocol. Specifically, the LBP funding program of Balancer enables Olympus to facilitate the raising funds in $OHM by offering protocols of their LBP. Therefore, this partnership will help OlympusDAO to experience immense growth with a decentralized future. 

A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.

DMCA.com Protection Status