- Edited
Another thing that was being discussed in the Discord is this:
The bottom line is that 80-90% of people will not go out of their way to get into DeFi. They won't leave their CEX. They will not learn to use MetaMask, and how to operate with DEXs, all of this. Call it lazy or whatever you want but this system is not really user friendly and we are all a bunch of degens willing to put up with it because of the gains to be had. I know what everybody here thinks, because I am on the same boat: "Not your keys, not your coins", "Centralized authorities suck, that is not the point of DeFi", large etcetera. This is all true. But that does not change that fact: Most people in crypto are operating within a CEX, they feel comfortable there. I know a few, I've recommended OHM to them, and they simply will not buy anything outside of their exchange. I'm sure that story rings a bell for some or most of you. We can stay DeFi purists and have a "If you build it they will come" approach or we can go to them. If Olympus wants to be a top 10 or top 5 project, we need those people as part of the market cap.
What happens on say, Coinbase, if suddenly a new option shows up for people with the possibility of staking and an APY of 1k? Most options on CEX regarding interest rates and what not don't go over 10% APY. DeFi has very little presence, with "conservative" options like cDAI or similar stuff. The Olympus model would be incredibly attractive by comparison. We think nothing of our 7k APY because of the sheer revolution that this model has created, with insane APYs available on forks. We forget how massive this is compared to TradFi or DeFi 1.0. Olympus is in a great position to completely disrupt that game as the original project with this model in a CEX, as it did with DeFi… if it gets listed first.
Olympus is the leading project of the Olympus model (Duh!) but there are forks out there, and I wonder what happens if one of them gets listed within a CEX with the option to stake before OHM. I think the first project of this type to get listed in a CEX is going to win a massive advantage in terms of volume and market cap. That project has to be Olympus. 20m is a lot but the bet is very asymmetrical IMO. We just need to figure out a way to ensure that centralized entities stay out of governance.