Olympus v1 (OHM)

Cheaper OHM means higher max leverage.

@OlympusDAO 's cooler loans let you borrow against the protocol's liquid asset backing. The current LTV sits at roughly 70%, which puts max leverage at around 3.5x. I'm staying at 2x for now.

As OHM drops, backing stays roughly stable, so the same collateral supports a higher leverage ratio. Price down, leverage ceiling up.

> Current LTV: ~70%
> Max leverage with lower prices: look at the table
> Available liquidity: ~$8M

$8M isn't deep, but it's enough because no one is looking at it. As price falls I keep sizing in at higher leverage, so a recovery hits harder than it would at a fixed entry.

OHM can't trade below backing. So a recovery near there would print faster than BTC reclaiming ATH.

OHM accumulation mode is on.

@OlympusDAO's Cooler Loans let you borrow against your OHM at a fixed rate, then use the proceeds to buy more OHM. Max leverage at current LTV levels caps at x3. That's formula-driven.

Two routes to run this:

> DIY: take the Cooler Loan yourself, stack OHM manually, full control over the accounting
> @origami_fi: a vault that handles the whole strategy automatically, with very low fees

Built https://t.co/eeHG6B27Pd to track OHM premiums in real time, plus a bot that pings me when the premium moves.

Currently at x2 leverage after a test loan. Plan is to push above x3 as I add to the position.

Btw, Origami is a genuinely good option for anyone who doesn't want to manage this manually.

OHM drawdowns strengthen the thesis.

@OlympusDAO buybacks are currently running at 4.6% annually. If that pace holds, 30-40% of the supply could be bought back over the next decade.

Lower prices don't weaken the thesis, they accelerate it by bringing the premium target closer.

The loop works by borrowing against OHM at a 70% LTV, reaching roughly 3.4x exposure.

> 50% premium above liquid backing → 43% total return
> 80% premium → 120% total return
> 100% premium → 171% total return

These aren't APYs. However, reaching $23.99 OHM in 10 years would translate to roughly a 17% annualized return. That's insane considering 80-100% premiums have already occurred this year.

The main risk is taking a sharp drawdown early while running 3.4x exposure, which is why scaling into the loop gradually makes sense.

If the buyback rate persists, the destination is the same. The only difference is how long it takes to get there.