FIP-51 Add OHM-FRAX Uni v3 Gauge
Author: On behalf of Olympus DAO
Summary: Add an OHM-FRAX gauge.
Background & Motivation: OlympusDAO has a strong partnership with the Frax Finance protocol. Olympus has always focused around mutually beneficial protocol interactions, it’s in the (3,3) culture. To date Olympus has created deep liquidity with FRAX at a depth of 6M, aided in POL for Frax Finance through Olympus Pro (Total Bonded Value of 5M) and utilizes FRAX as Risk Free Value for the protocol (33M in reserves). This partnership continued with a DAO swap (OIP-53 Execute DAO Swap with Frax Finance 2) and the acceptance of Olympus being able to stake its FXS tokens (FIP-38 Whitelist OlympusDAO to Stake veFXS 3). Without hesitation Olympus locked for maximum duration, 4 years.
OlympusDAO would like to continue this close relationship through addition of the OHM-FRAX LP on Uniswap v3 as a gauge on the Frax Finance platform. Olympus wants to continue to gain its exposure to the Frax Finance ecosystem.
Benefits of this Gauge: 1.) OlympusDAO is a whitelisted protocol that can stake veFXS so it will bolster Olympus’ holdings FXS and will continue to lock FXS supply away. 2.) Continue to grow our already successful partnership as Frax Finance continue to innovate. 3.) In the future Olympus will be able to offer benefits to partners driving TVL to Frax Finance.
Proposal: Add OHM-FRAX Uni v3 Gauge
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x947B...7D0277 | 25.47M | Against: Do nothing |
 0x3689...87F532 | 154,971 | Against: Do nothing |
 0x6a5d...62B188 | 150,098 | For: Deploy OHM-FRAX Univ3 Gauge |
 0x9E0e...90141b | 71,279 | For: Deploy OHM-FRAX Univ3 Gauge |
 0x33dc...D56B4A | 66,178 | Against: Do nothing |
VOTE POWER
Proposal Status
- Sun March 27 2022, 03:50 amVoting Period Starts
- Fri April 01 2022, 04:00 amEnd Voting Period
Current Results
1-Against: Do nothing
25.804M
2-For: Deploy OHM-FRAX Univ3 Gauge
522,745.645