hOHM Launches with Automated Leverage and Strong Initial Metrics

**OIP-196** is live on Snapshot until June 14, proposing a critical upgrade to Olympus protocol's price feed infrastructure. **Key improvements in PRICE v1.2:** - Aggregates data from multiple oracle providers (Chainlink, API3, Uniswap, Redstone) - Implements deviation-based filtering to reject outlier prices - Features fail-closed behavior to handle isolated feed failures - Maintains backwards compatibility with existing policies The upgrade specifically strengthens price feeds for OHM (ethereum:0x64aa3364f17a4d01c6f1751fd97c2bd3d7e7f1d5), addressing one of the protocol's most critical infrastructure components. Downstream systems like Operator, Yield Repurchase Facility, and Emission Manager will continue functioning without modification. [Vote on Snapshot](https://snapshot.org)

**Convertible Deposit Expansion** OlympusDAO approved a configuration update for institutional Convertible Deposits (CDs): - $USDS deposit cap increased from $10M to $60M - New 6-month term option added - Minimum bid set at $100K CDs function as auction-priced, downside-protected call options on $OHM - users deposit stablecoins to lock in a conversion price, then choose to convert to $OHM or withdraw their deposit. **Treasury & Operations** - Weekly revenue: ~$52.6K (up from $42.5K) - Roughly half of revenue from $sUSDe - Backing maintained near $12.00 per OHM - 1,012 $OHM ($18.4K) repurchased via Yield Repurchase Facility **Bridge Security Progress** The LayerZero bridge security upgrade moved from community discussion to formal proposal (OIP-197). The upgrade includes four-party verification for cross-chain messages, per-route transfer caps, and Ethereum supply reconciliation.

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).