How to Stake OHM Using OlympusDao And Get 5,178% APY

Nowadays, it’s common to see APYs ranging from 500% to 500,000,000% with DAO websites. There are plenty of sites to choose from but today, I’ll be showing you exactly how to stake OHM with OlympusDao.

I am currently invested in OlympusDao and have been staking OHM for the last few months. These are the steps I took to start the staking process.

The easiest way to stake OHM is (scroll for more detail):

1. Download and install MetaMask or another WalletConnect wallet. Here’s the list of available wallets: https://walletconnect.com/registry/wallets
2. Get some Ethereum (ETH). You can buy ETH from any of these sites: FTX.us, Binance.com, Binance.us, Coinbase, KuCoin, Voyager, or any other preferred exchange.
3. Transfer ETH to MetaMask/WalletConnect wallet.
4. Use Sushi.com to swap ETH for OHM. Pay all associated fees.
5. Use OlympusDao.Finance. Click “Enter App,” click “Stake” and connect your wallet. Make sure you’re on the Ethereum network. Approve & complete the Transaction.
6. Sit back and relax while you question whether spending $250 in fees was worth it 😂

Image Source: YouTube

PLEASE KNOW: Every time you visit a new site to either Stake/Convert/Swap cryptocurrency, you’re going to pay 2 fees:

1. Approval fee
2. Transaction fee

These fees give permission to the site to make the trade/swap and allow them to actually make the trade/swap for you.

Also know: you will only pay the Approval fee once per site. The Transaction fee will be every time.

Disclosure: The article includes referral links because even though they don’t cost you anything extra, they do offer us both a Bitcoin bonus for signing up and depositing/trading $100. I appreciate the support if you use them. Thanks!!

Staking OHM on OlympusDao

Unfortunately I don’t know any other way to buy OHM directly (which would save a bit of money in conversion and swap…