Klima DAO

Summary: Introduce wsKLIMA/gOHM bonds in order to participate in Olympus’s proteus program. Use DAO funds in order to bootstrap a sizable wsKLIMA/gOHM pool on day 1. Background: KlimaDAO is a fork of OlympusDAO, utilizing the bonding mechanism in order to acquire BCTs (Base Carbon Tonnes) into our treasury, creating demand for carbon credits, and facilitating a market for them. We could have not been successful without the assistance of Olympus, and are always thankful for them.

We want to continue providing support and assisting Olympus in establishing liquidity rails onto other networks. Olympus has recently released a proposal to bootstrap liquidity on other networks by providing liquidity mining rewards: OIP-45 . We’d like to participate in the Proteus program, benefiting both parties and strengthening our relationship.

Abstract: Olympus aims to become the decentralized reserve currency of DeFi. In order to fulfill this goal, robust liquidity rails must be developed on not only their native chain (Ethereum), but on all major chains, such as polygon. As many of the team and community are long-time Ohmies, we truly believe that Olympus will achieve this goal. Therefore, we want to align ourselves to fully embrace the Olympus ecosystem.

Proposal: Create a wsKLIMA/gOHM bond for KLIMA, incentivizing gOHM to be bridged into polygon, as well as creating liquidity for both Olympus and Klima. As gOHM is not a carbon asset, we cannot use it for backing. However, the addition of a new rail of liquidity, and the demand from ohmies to bond vastly outweighs any downside Use 5 million in our treasury in order to bootstrap liquidity for the wsKLIMA/gOHM pool, once the 7- day MA of the Klima treasury has reached 10 million. This will be paired with $5m in gOHM, provided the proposal passes in Olympus (Note: If the proposal in Olympus fails, we will not be able to bootstrap this pool).

Divert a portion of the liquidity to acquire gOHM. This will be placed in our reserves, and will be diamond handed for the foreseeable future. We will work with the Olympus Policy and Treasury team to determine the rewards.