Crypto.​com and Fidelity Compete for Same Federal Banking Charter

**OHM's recent price decline works differently than typical tokens.** While most cryptocurrencies spiral downward as selling begets more selling, Olympus runs this dynamic in reverse. **How the mechanism works:** - Each OHM is backed by ~$12 in real assets (mostly stablecoins) - The protocol earns ~$50K weekly in reserve yield - When price falls closer to backing, that yield buys back *more* OHM - Lower prices = stronger buybacks = more supply removed from market **The protocol won't issue new OHM below backing** - it only buys back. As the premium compresses toward the $12 backing level, the same reserve yield pulls more tokens out of circulation. **Supply contraction is the design working as intended**, not a red flag. Over four years, the protocol has bought back $156M+ of OHM through these programs. Where ordinary tokens unravel during price drops, OHM's architecture converts downward pressure into systematic buyback fuel.

**OIP-196 Approved** Olympus DAO passed OIP-196 this week, implementing a hardened price feed system. The upgraded PRICE v1.2 now pulls data from multiple providers including Chainlink, Api3DAO, Uniswap, and Redstone, with deviation-based filtering and fail-closed behavior to handle isolated feed failures. **Protocol Performance** - Revenue: ~$49K for the week - Primary source: 43% from sUSDe - OHM repurchased: $19.5K through the Yield Repurchase Facility (YRF) The upgrade maintains backwards compatibility with existing policies like Operator, YRF, and Emission Manager.

OlympusDAO has opened a forum vote on **OIP-196**, a proposal to enhance price feed resilience for protocol contracts. **Key Details:** - The proposal focuses on improving price feeds used by protocol contracts, particularly for the OHM token (ethereum:0x64aa3364f17a4d01c6f1751fd97c2bd3d7e7f1d5) - Maintains **backwards compatibility** with the existing PRICE v1 interface - Enables PRICE to resolve assets from **multiple sources and strategies**, reducing single points of failure The community can participate in the discussion and vote at [the OlympusDAO forum](https://forum.olympusdao.finance/d/5351-oip-196-price-feed-resilience).

OlympusDAO has released an updated Pulse dashboard that provides deeper visibility into the protocol's financial operations. **Key Features:** - **Treasury Balance Sheet**: View complete assets and liabilities in real-time - **Protocol Flywheel**: Track the mechanism driving protocol growth - **System Status Monitoring**: Check operational state of Cooler, YRF, and CDs mechanisms The dashboard builds on the recent app redesign that consolidated all protocol functions into a single interface. Users can now access comprehensive treasury data and monitor each system's activity status (active, idle, or paused) from [app.olympusdao.finance/#/pulse/overview](https://app.olympusdao.finance/#/pulse/overview). This update enhances transparency by making the protocol's financial health and operational mechanisms more accessible to the community.

Olympus DAO has published its Weekly Pulse digest covering May 11-17, providing transparency into protocol operations. **Key metrics included:** - Protocol activities and revenue generation - Treasury health and balance sheet status - Capital deployment updates - Governance discussions The pulse dashboard offers detailed views of the treasury's assets, liabilities, and protocol mechanisms including Cooler, YRF, and CDs. Users can access the full breakdown at [app.olympusdao.finance](https://app.olympusdao.finance/#/pulse/overview).