Is Olympus DAO ($OHM) Crypto Scam or Legit ??

 

 

Olympus DAO is a decentralized finance (DeFi) protocol that has been garnering a lot of attention in the crypto community. The protocol's main use case is a staking scheme with an annual percentage yield (APY) of 7,000% via new OHM token mints.

 

However, many skeptics argue that this type of return is unsustainable and could potentially be fraudulent. They point to the fact that the OHM token is not backed by any tangible assets, and that the high returns being promised are based on a Ponzi scheme-like structure.

 

On the other hand, supporters of the protocol argue that traditional financial systems, such as fiat currency, are also based on unsustainable models. They argue that Olympus DAO is simply a new type of money, one that is not tied to any specific fiat currency and is not subject to the same types of inflationary pressures.

 

It's worth noting that Olympus DAO's total value locked (TVL) in their staking pool has grown significantly since its launch in May 2021, and its community is devoted to the protocol.

 

As with any investment, it's important to do your own research and make an informed decision. While there are valid concerns about the sustainability of Olympus DAO's model, it's also important to consider the potential benefits and the unique approach that the protocol is taking. Ultimately, it's up to each individual to weigh the risks and rewards and make a decision that aligns with their own investment strategy and risk tolerance.