As I understand it, OHM seeks to be a reserve currency providing a stable valued transaction medium. It is mainly backed by DAI, which serves the same purpose without going up and down like crazy and being hyperinflationary.

So expanding on Satoshi's vision:

  • USD is worthless fiat backed by nothing but belief in government.
  • DAI is worthless because is algorithmic USD
  • OHM is even more worthless because it's basically DAI trading at 3x its value

If history has thought us anything, isn't it more reasonable to have stablecoin and reserve currency pegged to Gold?

submitted by /u/FilipAlexandrov
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