what's SLOHM?

SLOHM is a decentralized reserve currency protocol operating natively on Bitcoin Layer 1 through OPNet smart contracts. Inspired by Olympus DAO, it employs a hybrid treasury model where BTC is secured in a community-controlled 4-of-7 multisig wallet, and OP20 tokens (such as MOTO, PILL, and LP positions) are held directly in on-chain smart contracts. This setup ensures verifiable backing for the SLOHM token, enabling trustless operations aligned with Bitcoin's security. The protocol facilitates user participation via staking and bonding mechanisms. Users stake SLOHM to receive sSLOHM, which automatically rebases every epoch (approximately 144 blocks or one day), growing balances through treasury rewards. Bonding allows exchanging approved OP20 assets or liquidity provider tokens for SLOHM at discounts ranging from 5-15%, with received assets bolstering the treasury. Bonded tokens vest linearly over 5 days (~720 blocks), reinforcing (3,3) game theory incentives via Bitcoin's deliberate block timing and exit friction. Governance involves the multisig for BTC management and on-chain parameter adjustments.

SLOHM launched as the first OHM fork on Bitcoin Layer 1.