A correct model of Olympus DAO
The purpose of this post is to describe a correct model of Olympus DAO.
People seem very confused about how to understand or analyze Olympus DAO. I am correcting the record.
We will first discuss the inapplicability of “decentralized reserve currency” or “game theory” as lenses through which Olympus DAO can be understood. Next, we will present the correct model, which is as a continuous treasury bootstrap (bonding) accompanied by a continuous treasury distribution mechanism (rebases). Finally, we will present an overall narrative for the spectacular rise and ongoing decline of Olympus DAO within the framework we have created.
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