OlympusDAO Staking Users Growth

The goal behind Olympus DAO is simple, yet ambitious: to become the global reserve currency.  OHM tokens are the cryptocurrency which drives this vision. Olympus Treasury holds a bunch of assets that back the price of OHM tokens. Those baskets of assets ensure that the OHM value never falls below the intrinsic value held in Treasury.

The goal behind OlympusDAO is simple, yet ambitious: to become the global reserve currency.  OHM tokens are the cryptocurrency which drives this vision. Olympus Treasury holds a bunch of assets that back the price of OHM tokens. Those baskets of assets ensure that the OHM value never falls below the intrinsic value held in Treasury. 

OlympusDAO users can contribute to the defi ecosystem by either staking OHM tokens or providing liquidity through a process known as bonding. OlympusDAO users can stake OHM tokens for more OHM tokens in the same way Ethereum users can stake ETH tokens for more ETH. 

The other set of users can participate in the ecosystem through bonding, where users provide liquidity (DAI, ALCX, FRAX, etc) in exchange for OHM tokens at a discount. 

This post explores the users who are staking their OHM tokens in OlympusDAO.  Let us start by looking at the amount of OHM tokens staked over time. As of writing this post, there are around 5.32 millions of OHM tokens are staked in OlympusDAO and it is around 2.4 billions USD dollars.

Let us look at the growth of users staking OHM tokens in OlympusDAO. The following chart shows daily new users staking their OHM tokens in a bar chart along with the cumulative growth of staking users. The growth of users was nominal till early September and since the it has picked up stream. The growth of users starting September more than 3 times of the users growth compared to the prior months.

Now lets us look at the net amount of OHM staked daily. The following chart shows the net amount of OHM staked ( total staked amount – total unstaked amount) and overlays it with OHM token price in USD dollar. As you see in the chart, there is no correlation between OHM price and the net amount of OHM staked by users. The amount of OHM staked has correlation with the user growth through.

Now let us look at the heat map of new user growth. The weekly user growth of Olympus was averaging less than 750 till September. But from September onwards the growth has skyrocketed.

Now lets us look at the users who are dropping off the OlympusDAO staking grid. The following chart shows the user of OlympusDAO who unstaked their OHM tokens and never returned back to stake their OHM again.

This chart shows the heatmap of users leaving the OHM staking ecosystem and never returning back.

Lets looking at the ratio of new users joining OHM staking ecosystem vs existing users leaving the staking ecosystem in the following chart. As you in the chart around 15%-26% of users are leaving the OHM staking ecosystem in most of the weeks but since November the rate of users leaving OHM ecosystem for good has increased.

Leave a Reply