I Tried Olympus Dao For 1 Month (How Much I Made) - YouTube

last year i spent an entire year trying to make  a million dollars i ended up failing i only made  

it to 147 000 but this year i'm not giving up i'm  doubling down trying to find new ways to help me  

get to my million-dollar goal now since i've never  actually made a million dollars or never been a  

millionaire it's easier said than done i have a  lot of people tell me oh you should be flipping  

houses or you know you should be doing amazon  fba or you should try drop shipping i'm sure all  

those ways could actually get me to my million  dollar goal and i plan on trying out some of  

those ways eventually but the problem is i don't  know anything about those industries i wouldn't  

even know where to get started however i do know a  decent amount about crypto and crypto is certainly  

a way you can amass an incredible fortune in a  really short amount of time so this year with all  

the different capital i was able to build up year  one of my journey i'm focusing really heavily on  

crypto as a way to get to my million dollar goal  and to be honest i think a lot of people just  

getting started with investing in general don't  understand how absolutely mind-blowing the yields  

you get from crypto actually are in traditional  finance a normal good annual interest rate for  

an investment would be around 10 however in crypto  a lot of these different projects that i'm trying  

out are like 50 annually or like 80 annually  or 100 annually or 400 annually or for example  

recently i did an entire video about strong notes  and how i jumped in to that project and i'm making  

around 15 000 a month passively with this crypto  project now with something like strong notes the  

reason i'm able to make so much per month fifteen  thousand dollars a month is because i originally  

invested around forty thousand dollars to buy  eight notes but still making fifteen thousand  

dollars a month at this point i'll be making back  my initial investment in less than three months  

that is an absolute insane yield but the problem  with something like strong nodes is in order to  

get just one node for somebody to just get started  with something like strong notes they have to pay  

7 000 at today's current prices to buy just one  note and i have a lot of friends and family that  

i really want to help them out i want to see them  grow their wealth and i want to see them you know  

getting enough passive income so they don't have  to work their job anymore and most of them just  

don't have the cash lying around to get started  with something like strong nodes so for me that  

made me wonder is there anything else out there  like strong nodes where you can make this insane  

passive income but that doesn't cost thousands of  dollars to get into so i started searching and in  

general i get a lot of different recommendations  in the crypto space just because in the past i've  

shared some smaller different crypto projects that  are kind of more hidden gems and so now people  

like to send me messages or leave me comments with  different projects that they think are also hidden  

gems and i actually take the time to write down  and go through every single project that people  

recommend me just because i don't want to miss out  on getting in early on the next best project out  

there and occasionally when i'm getting these  recommendations i'll get recommended the same  

project over and over and over and over again and  when that happens i like to bump it up to the top  

of the list just because you know usually if a  lot of people are recommending it there's a lot  

of interest and it's probably a really interesting  project to check out so when i went to look for  

something like strong out there in the crypto  space the first thing i did is i went straight  

to the list of different recommendations that i've  been gathering and sitting at the very very top  

spot in my list because it had been recommended  over and over and over and over and over again  

was a really interesting project called olympus  dow so like every crypto project i look into the  

first thing i did is i went straight to the site  to check it out and unlike a lot of the different  

projects that i've been looking at lately olympus  dow actually had a really nice well-designed  

website which for me was a really good sign just  going into it the website states that the olympus  

dow is the decentralized reserve currency at the  top of the website i saw a button that said app  

and i clicked it immediately because i want to  see what type of apy this project was paying  

out or what was this project paying out why  was everyone so excited about it and kept  

recommending it to me immediately i saw the  apy sitting at the top of the screen was 7  

700 and my first thought was like oh like i  thought just because so many people recommended  

this project that it was a bigger project with  a crazy apy like that it must be like maybe  

a smaller project because i'd never heard of a  bigger project paying out anywhere close to seven  

thousand percent apy so i quickly went over and  looked at the market cap of the project and it  

was sitting at 1.5 billion which means it's not  a small project but this is actually a pretty  

substantially sized project and it shouldn't be  paying anywhere close to 7 percent apy maybe it's  

like the crazy high end it would be closer to like  120 or maybe even 150 but that's still pretty high  

for the size and caliber of the project in fact  if you look at on a chart it's in the top 60 of  

all crypto projects out there i just assumed  that i wasn't understanding how the apy worked  

or there must be some other mechanic involved  in the ecosystem because that just doesn't make  

sense that it would be paying out seven thousand  percent and if you're not understanding why like  

a smaller project could totally pay out way more  than seven thousand percent and a big projects  

can't it has to do with the fact that like small  projects have like a thousand users or a hundred  

users they're using the platform so they can pay  out a crazy apy in their token but their tokens  

worthless so it doesn't actually matter however  for a large project it probably would translate  

over into us dollars like they're paying out a  thousand percent apy it'd probably be pretty close  

to a thousand percent you're getting in us dollars  as well and let's really quickly do some math just  

to show you how outrageous seven thousand percent  annually would be if you put in just a thousand  

dollars a seven thousand percent annual interest  in one year you'd have seventy thousand dollars in  

two years you'd have five million dollars in three  years you'd have 357 million dollars in four years  

you'd have 25 billion dollars and in five short  years you'd have more money than any person on  

the planet with 1.8 trillion dollars and all that  from a tiny 1 000 initial investment and that is  

why immediately when i saw the crazy high apy and  i saw it was a larger project i knew that there  

must be something i'm not seeing here because  there's no way a project can actually pay out  

seven thousand percent annually so i went back  to the home page and i started reading through  

all the different info they had there there was a  section on the homepage titled how olympus works  

i read that probably 10 different times and  even after reading it 10 times i still wasn't  

comprehending what they're trying to say or i  wasn't understanding it i feel like i'm a pretty  

smart guy but for me i just wasn't understanding  what they were trying to say the next section of  

the website is called sustainable staking apy  and actually laughed out loud when i read that  

because i was like what are they even saying  like seven thousand percent is not sustainable  

what am i missing here and at this point i'm  thinking to myself either i'm totally missing  

something or this is a total scam because  i just couldn't see how they could possibly  

claim to pay out seven thousand percent that's  just not possible however reading through the  

sustainable apy staking section i was able to  understand what they were trying to communicate  

and get across basically they were saying that  the income generated by the olympus dow treasury  

is always going to be more than they're actually  paying out to stakers the next section said this  

ome is designed to grow in value om is backed  by an ever-growing income generating treasury  

we've created a currency that is able to  constantly grow purchasing power despite  

market conditions this was the second time that  they'd mentioned the treasury they'd mentioned  

the treasury's income and it really made me wonder  how is their treasury supposed to work and how is  

it able to generate income it was at this point  that i switched from the site to diving into the  

actual documentation of olympus doubt and my first  impression reading through this documentation  

was that the people that created olympus dow  were really really really really smart when it  

came to economics and how to structure this thing  they really thought through the mechanics of this  

whole ecosystem it wasn't something that they  haphazardly threw together i've looked through  

a lot of different crypto projects but i've  never seen anything like this and after maybe  

two hours of reading through this documentation  over and over again and watching videos and really  

trying to understand how this whole thing works i  did feel like i actually got a grasp on what they  

were trying to say and how in general olympus dow  works and i'm going to try to summarize it for you  

in really simple terms right now ohm or om is  the token for olympus double ohm is similar to a  

stable coin in that every ohm out there is backed  by one die die spelled d-a-i is a stable coin  

that's pegged to the u.s dollar so one die is  always worth one dollar but unlike a traditional  

stable coin om isn't pegged to a dollar it's  free floating and what that means is it can't  

go below a dollar because you know every single  ohm is backed by a dollar but it can go far above  

a dollar in fact today at current prices one ohm  is worth 888. this gives om intrinsic value like  

a stablecoin but also gives it the ability to get  a market decided value like bitcoin but the real  

magic behind the olympus dow ecosystem is in the  treasury the olympus dow treasury sells bonds that  

allow people to buy ohm at a lower than market  value price let's say the market value of 1 ohm  

was 20 so if you wanted to go buy one ohm it would  cost you 20 what the treasury does is they will  

sell bonds allowing you to buy one owned for not  twenty dollars but for ten dollars obviously that  

sounds like a really good deal for you because if  you went on the market you'd have to pay 20 but  

if you buy it directly from the treasury you can  actually get it for 10. but why would the treasury  

do that why would they sell you one owned for ten  dollars when it's selling market value for 20.  

this is the part we have to remember it only takes  one die to mint one own so what they're actually  

doing is they're getting you to pay 10 die for one  ohm meaning for the price of one ohm the treasury  

is actually able to turn a profit of nine die  the basic point is that this process of arbitrage  

actually allows the olympus doubt treasury to  build up funds in excess of the amount they'd  

have to pay out per ohm over time and those excess  funds that they generate they use to do two things  

one they use them to pay out staking rewards all  the rewards that people are getting staking ohm  

are actually just the excess that the treasury  is currently holding the second thing it allows  

them to do is to go out and buy up all their  own liquidity so if you think of yield farming  

there's always a lot of yield farmers out there  they're providing liquidity to the protocol and  

they get rewarded for doing that yield farmers  are able to make a lot of money if they know what  

they're doing for providing liquidity for these  various protocols and traditionally a lot of these  

protocols have to pay out incentives to keep  these yield farmers around for olympus however  

because they own most of their own liquidity they  don't have to do that they don't have to pay out  

incentives and instead of other people collecting  the yield for providing liquidity the treasury  

itself is actually able to collect its own yield  further increasing the profits and income of the  

treasury but the biggest takeaway i got reading  through all this different documentation was  

that at face value it seemed like olympus dow  was actually legit my takeaway was basically  

they're running one of the craziest and wildest  economic experiments i've ever seen after all this  

before i'm jumping in i was left with basically  one last question what is the risk of the price of  

one ohm actually falling all the way back down  to its intrinsic value of one die or one dollar  

currently sitting at a price of 888 while it's  kind of neat to know that it has an intrinsic  

value it's not necessarily very reassuring like  if you're looking at investing money when it's  

sitting at a you know all the way up at 800 bucks  like cool if i invest 800 bucks at least i know  

if the investment crashes to nothing i'll have  a dollar left and this is where i learned about  

something called risk-free value the risk-free  value is basically the value the treasury has  

been able to accumulate currently the treasury  has much more money available than there is ohm  

in circulation meaning the real risk isn't  actually your investment falling all the way  

down to a dollar in fact if there was a scenario  where most people sold off their own because the  

treasury is paying out excess profits to those who  keep staking if you kept staking not only would  

you get all the money you invested back but you'd  also likely turn a profit because the treasury is  

continually building up income it's continually  building up assets over time the longer you're  

staked in the project your risk-free value could  actually become zero as you gain a greater market  

share in the project than you originally had when  you first started but all in all after reading  

everything after understanding the risks i decided  to jump into this project and try it out i started  

out with actually a pretty large amount i put  in five thousand dollars because i wanted to see  

what this thing could really do it was saying  over the next five days i'd make six percent  

and a lot of people in stocks yearly annually  will make six percent and be happy with it so  

i was excited to see what's gonna happen i wanted  to know if this thing was legit i wanted to know  

if there's still something i wasn't missing you  know maybe when i actually invest maybe it works a  

little bit different than i was understanding what  ended up happening was after my first nine days  

just nine days being invested with just five  thousand dollars i was able to pull in nineteen  

hundred dollars which was kind of crazy to me that  i was able to pull in that much money from a 5 000  

investment over nine days and obviously for me  like when i get too excited i start making these  

dumb kind of sort of irrational not really smart  decisions and i decided you know what i'm gonna  

do i'm gonna take a lot more money and i'm going  to throw it on olympus dow because i you know if  

i made 1900 in nine days imagine how much i could  make had i invested double that you know because i  

could have made double or imagine if i'd invested  like you know ten thousand dollars which was  

that's the same amount i decided to increase  the amount i had steak i transferred money  

over from anchor i staked it on olympus dow and  i ended up staking around 17 132 anyways i think  

i did that on like a friday or like right before  the weekend i ended up not looking at the price  

for all weekend and uh or for whatever reason for  every reason there was like a gap of time where i  

wasn't checking the price and i ended up checking  in about four days later and in just four days  

with an initial seventeen thousand dollar  investment which is actually a pretty large  

investment but still within just four days  i had made ten thousand dollars because the  

price of home had gone up plus i got was getting  paid interest and i was just like dang but i was  

actually being kind of smart in this point as  well because i was like you know what i need to  

do i don't need to put any more money in this what  i'm gonna do is once i've doubled my initial stake  

i'm gonna take that money out and put it back in  anchor so i kind of formulated a little bit of a  

plan and strategy so that you know i didn't lose  control and start throwing crazy money at you know  

olympus dow just because you'd never know what's  gonna happen long term and it's always smart just  

to get your money off table when you can and just  put it into other things and now currently it's  

been one week and three days since i've staked  that larger amount initially on olympus dow  

and when i did make that initial larger  investment the price of one ohm was around 918  

four days after i made that investment the price  skyrocketed to over twelve hundred dollars which  

is why i ended up making a ton of money but then  the price dropped from 1200 all the way down to  

600 and then since then it's climbed back up and  it's currently sitting around 880 all that being  

said although initially in those four days i was  really stoked because i was like whoa i just made  

ten thousand dollars that ended up disappearing  when the price of ohm dropped back down and it's  

now lower than when i actually initially jumped in  with my big investment however even with it being  

lower than when i initially invested i've actually  still made a good amount of money over the past  

one week and three days since i made my initial  larger investment i've made 3 362 dollars so for  

me for only a week and three days of investing  making over three thousand dollars is definitely  

a win in my book and i'm really excited to see  kind of how this project keeps unfolding like i  

mentioned earlier my plan is to get out my initial  investment first before i invest any more money  

before i do anything else i'm gonna get out my  initial investment so i can get that off the table  

just because this is a crazy experiment you never  know what's gonna happen after that though i plan  

to just let my home sit there and just see what  happens over the next year maybe it turns into  

a crazy amount of money maybe it turns out to  be nothing at all and i know everyone always  

asks for a tutorial and for this one since  staking ohm's actually really really easy  

i'm just going to walk you guys through how to get  it staked if that's something you're interested  

in and right here these are all the different  places you can buy home you can currently only  

get it on a dex as far as i'm aware if you're  not sure how to use a dex then you're gonna have  

to look up another tutorial on how to do that  first you're gonna go to olympusdow.finance in  

the right hand corner you're gonna click on the  orange button that says enter app then you're  

going to go down to the button that says stake  you're going to connect to your wallet whether  

it's meta mask or wall connect and then you're  going to choose the amount of ohm you want to  

stake and then click the orange button that says  stake ohm and when i clicked it this is what it  

was saying i was going to have to pay for gas fees  around 44 bucks if everything looks good you hit  

the blue confirm button and that's it under your  stake balance you should see your staked ohm and  

you're good to go if this video is helpful and  you want to help me grow my channel please hit the  

like button it helps get the algorithm going and  makes things a little bit better for me i think  

let me know your questions in the comments below  i again try to go through every single one the  

comments have gotten a little bit out of control  lately because i'm just getting so many now and  

i am not able to keep up with all of them but i am  trying to go through and at least read all of them  

and i'm responding to any direct questions as  fast as i can and as many as i can and lastly  

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you