Olympus (OHM)OHM

A treasury-backed token run by Olympus DAO, with protocol-owned liquidity, Cooler Loans and automated buybacks.

Rank #139Since March 2021

Price on 31 Oct 2026

C$26.64 +1.7% since 31 Jul 2026 · 98.7% below its all-time high

The short version

OHM is the treasury-backed token of Olympus DAO, launched 23 Mar 2021 and governed on-chain by gOHM holders through a Governor Bravo contract. The treasury holds stablecoins such as sUSDS and sUSDe, lends USDS to holders through Cooler Loans at 0.5% a year, and uses yield to buy back and burn OHM. In Dec 2025 governance burned 596,000 unmigrated v1 OHM, lifting backing to about US$12.06 per OHM. On 31 Oct 2026 one OHM cost C$26.64. From 31 Jul 2026 to 31 Oct 2026 its price changed +1.7% in Canadian dollars, and it was 98.7% below its all-time high of C$2,005 set on 28 Apr 2021.^[1]

Facts checked 2 Nov 2026 · 15 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$32.08 (4 Dec 2025) · low C$21.29 (20 Apr 2026) · -15.1%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$26.60	US$19.06
30 Sep 2026	C$28.45	US$19.98
31 Aug 2026	C$27.05	US$19.51
31 Jul 2026	C$26.15	US$18.64
30 Jun 2026	C$22.34	US$15.72
31 May 2026	C$25.72	US$18.64
30 Apr 2026	C$24.64	US$18.08
31 Mar 2026	C$21.76	US$15.61
28 Feb 2026	C$23.89	US$17.51
31 Jan 2026	C$26.77	US$19.74
31 Dec 2025	C$29.78	US$21.73
30 Nov 2025	C$31.46	US$22.51

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$26.64^[1]
3-month change: +1.7% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 98.7% below its high of C$2,005 (28 Apr 2021)^[1]
Market rank: #139, market value about C$397.9M^[1]
Kind: Token · Ethereum (ERC-20); bridged to Arbitrum, Base, Berachain, Solana and others
Started: March 2021

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?NoMinting is done by policy contracts approved through on-chain governance; no wallet or multisig holds a mint role^{[2, 3]}

Can anyone freeze or take coins from holders?NoNo blacklist, pause or balance-change function in the contract^[4]

Can the token's contract code be changed?NoFixed contract code on Ethereum, not a proxy^[5]

Is the supply capped?NoNo maximum; policies mint and burn OHM under governance rules^{[4, 2]}

Any scheduled unlocks in the next 12 months?NoNo vesting; the Association may borrow up to 500,000 OHM in 2026 under OIP-193^[6]

Does a team or foundation hold over 10% of supply?YesThe protocol treasury holds about 24% of OHM, mostly in its own liquidity pools (estimate)^[7]

Do network fees reach coin holders?YesTreasury yield and Cooler interest buy back and burn OHM through the Yield Repurchase Facility^{[8, 9]}

Main network hacked or halted in the past 2 years?NoNo Olympus exploit in the DefiLlama hacks list since Nov 2024^[10]

Is a regulator or court case targeting the coin itself?NoNo regulator or court case found^[11]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: Olympus DAO: gOHM holders vote on-chain (Governor Bravo, 7-day votes, 20% quorum); the Olympus Association does development^{[3, 6]}
Multisig powers: The DAO multisig installs policies and grants roles; a 2-of-10 emergency multisig can halt minting and treasury withdrawals and veto proposals^{[2, 3]}
Admin key: OHM is minted only by approved policy contracts (Operator, bonds, bridge, emissions); no multisig holds a mint role^{[2, 12]}

Supply

In circulation: 14.94M OHM of 19.82M in total (75.4%)^[1]
Maximum supply: None set^[1]
Fully diluted value: 1.33 times its current market value^[1]
Total: 19.69M OHM on 1 Nov 2026; no maximum; policy contracts mint or burn under governance rules^{[4, 2]}
Treasury OHM: The protocol's own OHM, mostly in its liquidity pools, was worth US$89.2M on 2 Nov 2026, about 24% of supply (estimate)^[7]
Burns: OIP-191 burned 596K unmigrated v1 OHM (Dec 2025), adding about US$0.49 of backing per OHM; the YRF burns bought-back OHM^{[6, 8]}
Credit line: OIP-193 (4 Mar 2026) renewed a revolving credit line of up to 500,000 OHM for the Association's 2026 budget^[6]

Use and fees

Main use: Collateral for Cooler Loans (USDS at 0.5% a year, no price liquidations), gOHM voting and DeFi liquidity^[9]
Protocol revenue: US$2.52M in the past year on DefiLlama; Cooler interest and treasury yield flow to the Yield Repurchase Facility^{[13, 9]}
Buybacks: The YRF pulls treasury yield weekly, buys OHM daily and burns it; perpetual since OIP-174 (Jan 2025)^{[8, 6]}

Trading

Daily trading: About C$331.1K a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 0.06% of its market value changes hands each day^[1]
20-week average: 2.0% above its 20-week average price^[1]
1-year change: -15.9% in C$^[1]^[14]
Thin trading: Typically under 1% of its market value trades in a day; typical daily trading under C$1.4M^[1]

History

Not a forecast

Coins ranked 51-200 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 4,050 cases, 612 coins

39% were higher a year later^[15]

Typical result: Median -25% after a year; 45% higher after two years
Lost half or more: 38% within a year
Against Bitcoin: 12% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

No red flags found

OIP-194 (Apr 2026) swapped US$6.55M sUSDe to sUSDS, raised Convertible Deposit capacity to US$10M and redeployed the YRF; a 6-month Cooler drip was chosen.^[6]
OIP-196 (Jun 2026) upgraded the PRICE module to v1.2 so OHM can be priced from several feeds with deviation filtering.^[6]
OIP-188 (Oct 2025) added USDe and sUSDe as reserve assets; OIP-195 (Apr 2026) put US$10M of USDe into an Aave leverage campaign.^[6]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.