Olympus (OHM)

Buying liquidity into its own treasury instead of renting it from yield farmers was the idea OlympusDAO put forward in 2021, selling OHM at a discount in exchange for assets. "Protocol-owned liquidity" spread to dozens of imitators, and the phrase "DeFi 2.0" was coined around that wave. Most of the forks did not survive the downturn that followed. After a sharp decline the project itself rebuilt around a treasury-backed token and reserve management.