OlympusDAO, a decentralized reserve currency, has just struck a deal with Balancer to establish its native – OHM, as a liquid asset within the latter’s ecosystem.
OlympusDAO announced via Twitter that the platform has partnered with one of the leading decentralized finance (DeFi) projects – Balancer Labs, to initiate its own token OHM as a liquid asset within the Balancer ecosystem by transferring $50 million in liquidity to Balancer Protocol. The collaboration is supported by CopperLaunch, a platform for open and transparent Token Launch Auctions, and PrimeDAO, an open finance system based on programmable money built on Ethereum blockchain.
— OlympusDAO (@OlympusDAO) January 18, 2022
How Will The Partnership Help?
As per reports, 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 the 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.
The Olympus 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.
The Decentralized Future
OlympusDAO said that the partnership will experience immense growth in the upcoming decentralized future. The deal not only allow balanced trades but also help in building pools with multiple tokens that act as a personal index, or participate in LBPs using OHM. The company went on to add,
“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.”
Copper and PrimeDAO have aligned initiatives with Balancer, paving the way for future token projects to perform an Initial Dex Offering (IDO). Both PrimeDAO and Copper will add OHM as a trading pair/collateral token, allowing projects to raise funds in OHM.
TOP 10 CRYPTOCURRENCY
|#||Name||Price||Market Cap||Change||Price Graph (24h)|