How to get OHM and stake into Olympus
This post covers all the possible ways you can market buy and stake into Olympus Protocol. Underlined text is clickable and will take you straight to the relevant pools. Happy (3,3)’ing!
Option 1. Buy OHM On Ethereum Mainnet and Stake on Olympus App:
This option is great for large buys and will always have the highest liquidity. If ETH gas fees are not an issue for you, we recommend using this option. Both of the pairs listed below are overwhelmingly protocol-owned liquidity.
How to:
- Buy OHM on SushiSwap using OHM/DAI pair.
- Buy OHM on SushiSwap using OHM/ETH pair.
- Stake your OHM using https://app.olympusdao.finance/#/stake
UPDATE: You can also use OlyZap from our website directly to combine the buy and stake steps! https://app.olympusdao.finance/#/zap
Pros:
- Deepest liquidity. Can support large trades with minimal price impact.
- Resulting staked tokens are on Ethereum Mainnet, which allow users to participate in Snapshot voting.
Cons:
- Ethereum gas cost for swapping and staking.
Option 2. Buy gOHM On Ethereum Mainnet:
This option is good for small sized buy-ins who want to save gas on the staking transaction but want to keep their assets on Ethereum Mainnet.
(To learn more about gOHM please see this medium post, or TL;DR here and here)
How to:
- Buy gOHM on UniSwap using gOHM/wETH pair.
Pros:
- gOHM is pre-staked. No need to spend additional gas on the staking transaction.
- Resulting staked tokens are on Ethereum Mainnet, which allow users to participate in Snapshot voting.
Cons:
- Ethereum gas cost for swapping.
- Relatively shallow liquidity. This liquidity is not protocol-owned or incentivized.
Option 3. Buy gOHM On Avalanche, Aribtrum, Polygon, and Fantom:
This option is good for small to medium sized buy-ins who want to completely avoid Ethereum Mainnet gas and already have funds on these chains. Note that, shallow liquidity can result in large price impact, so make sure you are comfortable with the quoted price before buying.
How to:
- Buy gOHM on Polygon SushiSwap using gOHM/wETH pair.
- Buy gOHM on Arbitrum SushiSwap using gOHM/wETH pair.
- Buy gOHM on Fantom SpiritSwap using gOHM/FTM pair.
- Buy gOHM on Fantom Beethoven using gOHM/FTM pair.
- Buy gOHM on Avalanche TraderJoe using gOHM/AVAX pair.
Pros:
- Gas fees are significantly cheaper on these chains compared to Ethereum Mainnet.
- gOHM is pre-staked. No need to spend additional gas on the staking transaction.
Cons:
- Resulting gOHM is not on Ethereum Mainnet, which means users cannot participate in Snapshot voting.
- Relatively shallow liquidity. It is incentivized through Proteus liquidity mining incentives but is not protocol-owned.
Note: For Options 2 and 3 please compare the quoted price against the gOHM price listed on the Olympus website. Expect a few hundred dollars difference due to arbitrage inefficiencies. If the difference is too large, you might be paying more than what you are saving on gas fees.
Follow us on Twitter: @OlympusDAO
Read it first on Medium
Become an Ohmie on Discord
Join the discussion on the Forum
Follow us on Reddit
