OHMD is designed to become an asset-backed currency at scale which mirrors the price of DOGE.
In the short term, the OHMD price may be substantially higher than DOGE, which is due to speculation on the size of the eventual market cap and due to the expected yield, earned through staking, before OHMD reaches the eventual price of DOGE.
The progression of tokens is OHMD > sOHMD (staked) > wsOHMD (wrapped staked). Each token has a specific purpose and utility in the Olympus Doge ecosystem.
When you buy wsOHMD from the liquidity pool it is already staked. You can unwrap wsOHMD to sOHMD so that you can see the token count increase with rebasing. We don't recommend holding them as OHMD (unstaked) for long periods of time.
The Olympus Doge core protocol consists of three primary functions:
Beyond the core functions of the protocol, Olympus Doge also seeks to build increased functionality through secondary DeFi applications and utility, incorporating our Dogelords NFT series.
One of the key features of the protocol is our trading bot/mechanism. Our trading bot utilizes the treasury to help to reduce the volatility of the token price by buying and selling OHMD tokens on the market. This serves to reduce volatility from swing traders and reduce the potential for price manipulation. Our trading bot's goal is to protect our investors capital in the long term.
Each sell of the wsOHMD token incurs an 8% sales tax. The sales tax is an additional layer of security for long-term holders. Of the sales tax, 4% goes to liquidity, 2% goes to the treasury and 2% supports marketing and operations.