Olympus DAO

Some might have heard of Olympus DAO: https://www.olympusdao.finance/

They right now advertise APY of 5000%, yes 5000% (let's set aside debate if it it ponzi).

This is how they explained it: https://docs.olympusdao.finance/main/basics/basics#how-is-the-apy-calculated

5000% means about 100% per week. I staked few OHMs just for fun, but see ROI (5-Day Rate) of about 5%

What am I missing?

Thanks

 

What's the contract address?

https://app.apy.vision/liquidity-pools

 

Here it is: https://app.apy.vision/pools/sushiswap_eth-OHM-WETH-pool-0x69b81152c5a8d35a67b32a4d3772795d96cae4da

Essentially once you buy OHM and stake it you supposed to make 5000% APY according to https://www.olympusdao.finance/

Thanks

 

That's not the same contract address. The advertised is for single staking. The one you provided is for an LP pair.


I haven't followed OlympusDAO, here would be my starting point;

 

I got the answer. it is exponential with rebases. 1 OHM will turn into 50 OHM if held through duration on 365 days.

 

ponzi scheme, get out when everyone gets in.

 

I get it, but a ponzi can run for a long time. I plan to get few more OHMs, stake thenm, and then go into set and forget state. It blows up, no big deal. It survives for 2 years, I will walk away with nice profit.

 

lol nice.

 

makes sense. Thanks for sharing.