The rise of Olympus DAO

Stablecoins play a vital role in the crypto space, acting as medium of exchange, with the total stablecoin supply exceeding $126 billion as of this writing. However, the heavy reliance on dollar-denominated stablecoins could imply the surrender of monetary sovereignty within the crypto economy.

Also known as non-pegged stablecoins, low-volatility tokens are a new asset class within the DeFi space that has emerged lately. They aim to become algorithmic currencies that are less volatile than most crypto-assets and less prone to long-term changes in the dollar’s purchasing power caused by unforeseen monetary policies or economic landscape.