Cooler Loans
AuditedVerifiedCooler Loans is Olympus DAO's native lending product. Borrowers deposit gOHM as collateral and borrow USDS directly from the Olympus Treasury at a fixed 0.5% APR with no price-triggered liquidations.
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The Problem
OHM holders who want stablecoin liquidity without selling their gOHM face two unattractive options: sell (taxable, surrender voting power) or borrow from generic money markets (variable rates, price-oracle liquidation risk, no gOHM collateral support).
The Solution
Cooler offers fixed 0.5% APR loans backed directly by the Olympus Treasury, against gOHM collateral, with no price oracle and no liquidations from market volatility — only governance-drip LTV adjustments.
Why it Matters
The only perpetual, oracle-less, fixed-rate, treasury-funded lender in DeFi. Borrowers keep their gOHM voting power via DLGTE delegation while accessing USDS liquidity.
Protocol Metrics
Related Research
View allFrequently asked questions about Cooler Loans
What is Cooler Loans?+
Cooler Loans is a Lending protocol operating on Ethereum. Cooler Loans is Olympus DAO's native lending product. Borrowers deposit gOHM as collateral and borrow USDS directly from the Olympus Treasury at a fixed 0.5% APR with no price-triggered liquidations.
How does Cooler Loans work?+
Cooler offers fixed 0.5% APR loans backed directly by the Olympus Treasury, against gOHM collateral, with no price oracle and no liquidations from market volatility — only governance-drip LTV adjustments.
Is Cooler Loans safe?+
DeFi Sentinel rates Cooler Loans AA with a safety score of 86/100, indicating very low risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Cooler Loans has 6 audits on record. DeFi Sentinel's analysis flagged 4 medium, 2 low risk alerts across Economic Design & Market Risk, Governance & Centralization and Reputation & Social Trust. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Cooler Loans?+
Cooler Loans has a DeFi Sentinel safety score of 86/100 (rating AA), last updated September 16, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Cooler Loans support?+
Cooler Loans is deployed on Ethereum.
Has Cooler Loans been audited?+
Yes. Cooler Loans has 6 audit reports on record from firms including Sherlock, HickupHH3 (LoanConsolidator), Electisec (Cooler V2). Audit reports and dates are linked under the Resources tab on this page.