Olympus Finance 2 is inspired by previous algorithmic stable protocols such as Tomb Finance. Like 2OMB Finance, this protocol uses three tokens (THERMES, TARES, TPLUTO) to incentivize a stable 1:1 peg to $FTM.
About Olympus Finance 2
The mechanism, underlying the Olympus Finance 2 protocol, dynamically adjusts the $THERMES supply, raising or lowering its price relative to the $FTM price.
Inspired by the original idea of Tomb, Olympus Finance 2 is a multi-token protocol that consists of the following three tokens:
| 1. | Peg Token ($THERMES). |
| 2. | Share Token ($TARES). |
| 3. | Bond Token ($TPLUTO). |
Olympus Finance is implementing something new and exciting. You will be able to stake your previously earned $THERMES tokens (without any fees) and get powerful $TZEUS tokens.
The initial supply will be 25,000, fully dedicated to Genesis Pool Rewards. TARES is one way to measure the value of the OlympusFinance 2 protocol and shareholder confidence in its ability to keep THERMES close to the peg at all times. During the expansion of the epoch, the protocol issues THERMES and distributes them proportionally to all TARES holders who have placed their tokens in the boardroom.
TPLUTO — unique tokens that can help to stabilize the THERMES price around the 1 FTM anchor by reducing the THERMES circulating supply if the TWAP (Time Weighted Average Price) drops below the 1 FTM anchor. TPLUTO can only be purchased during contract periods when TWAP TERM is less than 1.
More about defi app
Each new era during periods of contraction, TPLUTOs are issued at a rate of 3% of THERMES' current turnover, with a maximum debt of 35%. This means that if the bonds reach 35% of THERMES' circulating supply, the bond issuance is terminated. You can buy TPLUTOs, if any, through a bond on Olympus Finance, anyone can buy as many TPLUTOs as they want as long as they have enough TERMs to pay for them. There is a limit on the number (3% of THERMES current circulating supply) of TPLUTOs, available during the cutback period, and they are sold on a first come, first serve basis.
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