What is SLOHM?
SLOHM is a decentralized reserve currency protocol on Bitcoin L1 via OPNet, inspired by Olympus DAO. It brings proven DeFi mechanics to Bitcoin's secure, decentralized foundation.
The Vision
SLOHM aims to create a decentralized, censorship-resistant reserve currency backed by a basket of assets. Unlike stablecoins pegged to fiat, SLOHM is a free-floating currency backed by treasury assets, allowing it to maintain a stable purchasing power while potentially appreciating over time.
Core Principles
SlowFi
Bitcoin's 10-minute blocks create natural "exit friction" that makes reserve currency mechanics even more compelling than on fast chains. We call this SlowFi - the philosophy that slower is actually better for certain financial primitives.
Treasury-Backed
Every SLOHM token is backed by a basket of assets in the protocol treasury. This backing provides a fundamental floor value - SLOHM can always be redeemed for its proportional share of treasury assets.
Stake to Grow
Through staking, SLOHM holders can earn rebase rewards. When you stake, your balance grows automatically every epoch (~1 day). This compounds over time, rewarding long-term holders.
Bond to Build
Through bonding, users can purchase SLOHM at a discount by providing assets to the treasury. This grows protocol-owned liquidity and strengthens the treasury backing.
Why Bitcoin?
| Feature | Fast Chains | SLOHM on Bitcoin |
|---|---|---|
| Vesting | Can bridge/swap to exit | True 5-day lock, no escape |
| Rebasing | Game instantly | Must wait ~1 day epochs |
| Selling | Instant dump | 10-min blocks slow exit |
| (3,3) | Weak - easy defection | Strong - defection is slow |
| Security | Various consensus | Bitcoin's proven PoW |
How It Works
- Staking - Lock SLOHM to receive sSLOHM and earn rebase rewards
- Bonding - Provide assets to treasury for discounted SLOHM
- Treasury - Holds diversified assets backing all SLOHM
- Governance - Community controls protocol parameters via multisig
Key Metrics
- Backing - The treasury value per SLOHM token
- APY - The annualized return from staking (compound)
- POL - Protocol-Owned Liquidity percentage
- Runway - How long rewards can sustain at current rate
Getting Started
- Acquire SLOHM on a DEX
- Stake to earn rebase rewards
- Or Bond assets for discounted SLOHM