OHM to Fiat Converter

Olympus is an algorithmic currency protocol designed to function as a crypto-native currency with stability as a key objective. While often categorized as an algorithmic stablecoin, Olympus operates more like a central bank by utilizing reserve assets such as DAI to influence its price. The protocol aims to achieve price stability without fixing its value to a specific peg, allowing its market price to fluctuate.

Unlike stablecoins such as USDC, which maintain a fixed peg, OHM is backed by reserves but not strictly pegged to a set price. Theoretically, OHM has a price floor of 1 DAI, but its market value typically includes a premium based on treasury holdings.

Olympus distinguishes itself from other algorithmic stablecoins like Ampleforth (AMPL) by issuing OHM to acquire DAI and other reserve assets, building a treasury to support its value. While similar in mechanism to FEI, Olympus does not enforce a dollar peg, instead permitting its token price to adjust freely in the market.