What is (3,3) meme

Crypto meme (memes) originated from the OlympusDAO ($OHM) project.

$OHM What is it $OHM is currently a collateralized token.

Think of OlympusDAO as the Federal Reserve of Web3.0, with a treasury supported by various assets. Since each $OHM is backed by at least $1 worth of reserves (assets) in the treasury, when its price falls below $1 , OlympusDAO will buy back and burn some $OHM. This will bring the price of $OHM back to $1. Additionally, unlike traditional fiat currencies, $OHM is not pegged to any assets, so its price is not stable. On the other hand, according to its smart contract design, theoretically, $OHM can always stay above $1 , with only a floor price and no upper limit.

In simple terms, “pegged” = 1, “collateralized” ≥ 1.

$OHM Uses Ohmies (users participating in $OHM transactions) have three options: staking, bonds, and selling.

Staking Ohmies can earn rewards through staking. When they stake, $OHM will be locked, and they will receive an equivalent amount of transferable, interoperable $sOHM tokens that can interact with other DeFi protocols. The balance of $sOHM will undergo Rebase at the end of each cycle.

When participants choose to unstake, they will receive the corresponding amount of $OHM, and $sOHM will be burned.

Bonds In addition to staking LP tokens in pools for rewards, participants can also acquire $OHM at a discount using LP tokens. Settlement does not happen immediately. Since OlympusDAO does not sell these LP tokens, liquidity will be locked in the treasury and become part of the reserves (i.e., PCV, Protocol Controlled Value).

What are LP tokens? What is their value? Please refer to the section “What is Liquidity and LP ( Pool)”.

The Prisoner’s Dilemma To better understand crypto memes, we need to first discuss the Prisoner’s Dilemma. Imagine the following scenario:

Two criminals commit a crime together and are arrested, but the police lack enough evidence to charge them unless at least one of the prisoners confesses. To prevent collusion, the police interrogate each criminal separately under the principle of “confess for leniency, resist for harsher punishment.”

It can be said that there is a strategic relationship between these two bad guys, meaning that when deciding what to say, they must anticipate what the other will say, as it will also affect their own outcome.

Crypto Community Based on the Prisoner’s Dilemma theory, staking becomes the most advantageous choice for Ohmies. Because it involves buying tokens while reducing circulating supply, increasing token scarcity, creating buying pressure, and thus pushing the price up.

Bonds are also categorized as a somewhat positive option, though not as strong as staking. While it doesn’t directly drive the price up like spot trading, it can alleviate liquidity pressure of $OHM in the secondary market and provide users who want to hold $OHM with an opportunity to buy at a discount. Meanwhile, these users face a lock-up period before receiving $OHM , which prevents immediate selling pressure.

Selling $OHM is viewed as a negative action, as it puts downward pressure on the price, and a declining price may lead to more Ohmies selling their tokens.

Based on the above theory and to provide a more intuitive explanation, OlympusDAO defines staking returns as +2, bonds as +1, and selling as -2.

Thus, we get the classic crypto community table, which abstractly shows the payoff scenarios for two Ohmies.

Crypto community represents the optimal payoff scenario Impact…… After OlympusDAO gained prominence, many imitators or forks appeared in the market, and this meme started to have more variants. For example, KlimaDAO, which introduces environmental concepts into crypto, can be marked as (?,?); while Wonderland, once the most popular fork of $OHM, can be marked as (?,?). Additionally, the form (X,X) is widely used as a tag within the Web3.0 community. People include this meme in their profile bios to showcase their Web3.0 identity.

Crypto memes have become an abstract yet intuitive cultural symbol within the cryptocurrency community, extending far beyond DeFi or staking behaviors.