Staking has become the new black in the world of passive income. The PoS algorithm allows coin holders to participate in the maintenance of the blockchain and receive rewards for this. The mechanism can be compared to a traditional bank deposit in the crypto industry.
Many connoisseurs and enthusiasts choose the special floating algorithmic currency Olympus (OHM). Its peculiarity is that the coin maintains a 1:1 peg to the US dollar through rebasing. The risks remain high despite the growing liquidity and high popularity among stakers. To not burn out with the token and analyze the prospects of Olympus, I have prepared an article for you about the OHM staking calculator: what it is, how to use it, and how reliable it is.
Features of OHM
OlympusDAO is a decentralized reserve currency protocol that powers the token. It’s not exactly a stablecoin, but each token is backed by a set of assets (such as DAI stablecoins), so it cannot fall below a certain value, which is its uniqueness. The idea of the project is based on game theory. According to it, if all coin holders cooperate, the system would provide the maximum profit for each participant. There are currently three types of actions available to the user:
This article will focus on the first one, i.e., how to stake OHM coins. Olympus allows users to earn money through automatic staking. By placing a bet on OHM with the help of OlympusDAO, the client receives sOHM (staked OHM) at a ratio of 1:1. After that, depending on the current APY, the balance will increase over time.
Suppose you are willing to optimize your earnings. In that case, you need to pay attention to the available interest rates and use the cryptocurrency rate calculator to determine if you are satisfied with the supposed benefits.
OHM Crypto Calculator: How to Stake Olympus DAO?
To stack crypto OHM, you first need to purchase it through DEX (a decentralized exchange), which can be done by trading something like ETX. Then you need to place your ETX on your web 3 wallets. After that, you are to check whether OHM and sOHM have been added to your wallet to track changes in the future. Now you can exchange ETH for OHM. However, don’t exchange all ETH. Exchange only a part of it.
Now let’s move on to staking. You should go to the Olympus DAO website and click on the Stake button. To deposit OHM, the platform will require a gas fee. The gas fee is the commitment required for a successful transaction. By confirming the action, you can specify how much the coins you want to stake. This action also requires a gas fee. Once staked, you get sOHM at a 1:1 ratio of OHM. sOHM entitles you to a reward but can also be used to redeem your coins at any time.
Let’s see how to use the staking determiner tool.
Olympus Staking Calculator
The first and main reason a calculator is used is to find out the cost of OHM in fiat money, for example, in dollars, i.e., it works as an exchange. The calculator also helps to calculate daily, monthly, annual profit, and annual profitability.
Let’s try Staking Rewards and calculate the risks, prospects, and possible passive income.
Step 1. Go to the Staking Rewards website and type in the current one you are interested in. In our case, it is OHM crypto staking.
Step 2. Scroll down the search results page below, find a calculator and enter the required data: Amount, Term, Type, and Price. You can read the necessary information on the chart regarding the total, monthly, and annual income.
Step 3 (optional). You can also use an advanced crypto estimator that calculates price, interest, and potential passive income from Olympus DAO staking with higher accuracy.
That is just one of many crypto trackers. You can do research and choose one with the features you need.
If you want to take your place in the crypto industry, constantly improve your knowledge, learn new features and catch opportunities. Olympus is gaining popularity and promises good prospects for the future. OHM price calculator crypto will help you determine the profit and rate of a crypto coin. On the market, you will find many online professional crypto tools that, despite their similar functionality, have their characteristics.