Olympus
OHM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
OlympusDAO (OHM) continues to operate as an established DeFi reserve protocol with an active on-chain governance system (Governor Bravo) and a significant protocol treasury of ~$184.8M supporting a liquid backing of $12.07 per OHM. Development remains active with regular governance execution and protocol expansions like Cooler Loans and institutional Convertible Deposits. However, the project's overall profile is heavily constrained by fundamental tokenomics and market challenges: an uncapped, policy-driven supply model, an anemic 24-hour trading volume relative to its ~$278M market cap, and a severe ~99% historical price drawdown from all-time highs that reflects a broader decline in the decentralized reserve currency narrative. On the security front, Olympus maintains a multi-tier Immunefi bug bounty and its sole historical exploit in October 2022 (~$300k from a BondFixedExpiryTeller input-validation flaw) was fully returned by a white-hat attacker with zero net loss. No qualifying red-flag cap applies as the 2022 incident was fully resolved and occurred over 24 months ago. The overall score of 5.2 mathematically reflects the weighted average across all evaluated dimensions.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Olympus (OHM)
Olympus (OHM) is the native reserve token of OlympusDAO, which transitioned to its current contract model following a migration from the deprecated legacy v1 token. Launched in March 2021, Olympus operates primarily on Ethereum with deployments across Arbitrum One, Base, Berachain, Optimism, and Solana. The protocol aims to function as a decentralized reserve asset system backed by a protocol-managed treasury rather than maintaining a fixed peg to fiat currencies.
The protocol is governed on-chain via Governor Bravo, having transitioned from multisig administration through community proposals OIP-152 and OIP-166. OHM utilizes an uncapped, policy-managed supply structure supported by smart contract mechanisms such as the Emissions Manager and Yield Repurchase Facility. The system incorporates protocol-owned liquidity, bonding, institutional Convertible Deposits, and credit products like Cooler Loans. As of mid-2026, roughly 77% of the circulating OHM supply is staked, with protocol operations supported by an on-chain treasury holding approximately $184.8 million in assets.
Olympus has experienced notable market drawdowns and historical security events. The token suffered an approximate 99% price decline from its all-time high alongside lower trading volume relative to its market capitalization. On October 21, 2022, an attacker exploited an input-validation vulnerability in the BondFixedExpiryTeller contract's redeem() function, withdrawing approximately 30,437 OHM (valued between $292,000 and $300,000); the affected markets were closed, and the assets were subsequently returned in full by the white-hat attacker. Additionally, core team contributors remain largely pseudonymous.