If you haven’t heard about it, Olympus DAO is a decentralized finance (DeFi) protocol whose primary use case seems to be “making people extremely angry.” Skeptics argue that its core functionality – a staking scheme currently yielding over 7,000% APY via new OHM token mints – is unsustainable to the point of fraudulent. OHM investors, in turn, would tell you that most of contemporary economic life – buttressed by state actor expenditure exceeding revenues and perpetual inflation – is also unsustainable to the point of fraudulence.
Is OPEC the Pied Piper of the oil market? The “tune” from the OPEC+ alliance was that come January, there will be no change to its output. The longs in oil - making up for the original rats or children in the medieval-era tale in Hamelin - sucked up what OPEC+ played and sent crude prices higher after the alliance’s meeting on Thursday.