Dec 23, 2021Liked by Jay Pinho

I discovered this project a while ago. The fact they advertise a four figure APY and not obviously mention that it's a rebasing token was a big red flag for me. They should be using inflation-adjusted-return as the advertised metric. The bonds-as-a-service (BaaS) offering does spark my interest though. Also seeing interesting liquidity innovations coming out of Tokemak & Ondo.

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Yeah, agreed - their bond-selling mechanism was pretty fascinating to me too. I don't totally get their BaaS business Olympus Pro, though: i.e. it doesn't seem like there's a whole lot they're providing other than logistics for the other tokens in order to justify their fee. The other problem is, I'm not sure how sustainable the market is for bond sales in other tokens, either - Olympus has gotten a lot of hype, so its early price increases made buying bonds look like a discount by comparison. So rolling this out to other tokens might only work if those tokens have equivalent hype.

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