Olympus DAO

Summary

Formalize a partnership to align Debt DAO and Olympus. Debt DAO will provide Olympus with 3.33% of its governance token at launch, which it can use to stake and take part in the governance of Debt DAO. Olympus commits that it will not reduce its exposure to Debt DAO’s governance token and will provide advice and assistance to Debt DAO as it launches and builds out its roadmap. We are posting this OIP after the AMA and the request for comment post: https://forum.olympusdao.finance/d/816-request-for-comment-debtdao-x-olympus-partnership

Motivation

Our motivation for wanting to align Debt DAO and Olympus is because we share the same values. Olympus and its community have a laser focused mission, value integrity and decentralization, and play positive sum games - those are values we share and hope to embed in our community.

Our protocols are complimentary - on its journey to being the decentralized reserve currency - Olympus will need partners to assist it in managing excess treasury reserves to earn yield - Debt DAO aims to be able to fill that need through its debt borrowing aggregation.

Keeping part of our treasury in gOHM will align Olympus’ success with ours - and vice versa - where Olympus holds our governance token.

Proposal

Following discussions with the Olympus DAO partnerships contributors - we propose the following partnership with Olympus to align our communities from launch and into the longer term:

Debt DAO provides:

3.33% of governance token to Olympus - vested linearly over 18 months - so Olympus can take part in our governance - on the condition that Olympus retains and does not dispose of these tokens

We propose to conduct our launch LBP in OHM using Olympus LBP funding - with intention to hold a portion of treasury and liquidity in gOHM

Priority for Debt DAO to integrate OHM as a lending option into its products, following OHM’s current early growth phase

Priority access for Olympus to use our products to generate income for its stablecoin treasury from our borrowing system

Olympus Provides:

Recognition of Debt DAO as an aligned partner

Priority access to Olympus’ launch and liquidity products

Advice and assistance with our launch from Olympus DAO contributors and consultation on our roadmap and strategy into the future

Participation in our governance (likely through a delegate)

Co-marketing for our upcoming LBP in OHM

Feeless use of Olympus LBP funding

Recommendation of Debt DAO’s products to appropriate partners and users accessing Olympus products

Consideration of integrating of Debt DAO products to Olympus Pro front-end - provided they are suitably brand appropriate and mature

Vote:

For: Engage in Debt DAO Partnership Against: Don’t do anything