OlympusDAO

March 2021

OlympusDAO launches OHM token via Discord offering and IDO on SushiSwap at approximately $4 per OHM. Early Discord participants could purchase 141 OHM each.

26 October 2021

OHM reaches an all-time high price range of approximately $1,315–$3,209 depending on data source and rebase-adjustment methodology.

November 2021

OlympusDAO market capitalization peaks at approximately $4.4 billion. Treasury TVL peaks at approximately $866 million in December 2021.

5 December 2021

CoinDesk publishes 'Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi),' one of the first major media analyses questioning the sustainability of OHM's treasury-backing model.

2022

OHM declines more than 90% from its all-time high. Cascading liquidations of leveraged sOHM positions accelerate the sell-off, with approximately $150 million in OHM liquidated within 30 days.

27 January 2022

Wonderland (TIME), the largest OlympusDAO fork, collapses after the revelation that a core team member, known as '0xSifu,' was Michael Patryn, co-founder of the fraudulent Canadian exchange QuadrigaCX. Rebase token sector suffers broad contagion.

14 April 2022

Australian investor Jason Liang files suit in U.S. District Court for Connecticut against OlympusDAO co-founders, alleging fraud and the disabling of smart contracts that prevented redemption of 4 million pOHM tokens worth over $20 million.

21 October 2022

Bond Protocol smart contract exploit drains approximately 30,437 OHM (~$300,000) from OlympusDAO bond markets via an input validation flaw in the Fixed-Expiry Teller redeem function.

21 October 2022

The Bond Protocol exploiter returns all stolen OHM funds to OlympusDAO within hours under an undisclosed arrangement.

31 January 2023

Bankless Times reports the Liang v. OlympusDAO lawsuit remains active, framing it as a test of decentralization as a legal defense against investor claims.

March 2023

OlympusDAO transitions away from fixed high-APY staking emissions toward zero, adopting a sustainability-focused model centered on protocol-controlled lending products including Cooler Loans.

July 2024

U.S. District Court for the Northern District of Illinois enters summary judgment against Sam Ikkurty (CFTC action), finding he ran a Ponzi scheme that invested 90% of $83.7 million in customer funds in OHM. The ruling classifies OHM as a commodity under the Commodity Exchange Act.

30 April 2025

OlympusDAO launches a sUSDS lending vault on Morpho in collaboration with Gauntlet, allowing the protocol to generate yield on idle treasury reserves using Pendle Principal Tokens as collateral.