Olympus DAO

Summary

We are seeking approval to introduce [REDACTED] as the first official branch of OlympusDAO focused on acquiring CRV, CVX, and other relevant governance tokens to expand Olympus DAOs reach beyond risk-free value and expand into a multi-token ecosystem. You can read more about what we are trying to build here.

Motivation:

It is fair to say that the protocol currently faces an uphill struggle. As newer protocols based on similar architecture come to market with their own promises of colossal returns and slightly altered narratives, the focus of Olympus being the core reserve currency of DeFi face an existential threat where forks distract not only liquidity but adoption of the protocol elsewhere. While it is easy to celebrate the protocol as a success when it is rapidly expanding, true tests will come when growth slows. $BTRFLY (Redacteds rebasing governance token), is not another reserve currency, nor is it fighting for liquidity or market share with Olympus. Where Olympus seeks risk-free value to back its treasury, $BTRFLY works on creating new value flywheels that expand the Olympus ecosystem into more volatile assets while not putting OHM value or narrative at risk.

Benefits to Olympus DAO:

• 20% of pBTRFLY supply (20 million) with a 10% supply share
• Olympus receives majority of pBTRFLY supply-share where the team only has 9% supply share.
• OlympusDAO will further receive a fee on all revenue post-launch, including a 5% fee on $BTRFLY and 5% fee on the revenue generated from external tokens bonded.
• Expand Olympus community and liquidity reach to new markets such as Convex, Curve, Frax, and Tokemak
• Proposals with communities like FRAX to use [REDACTED] to further grow their on-chain relationship with Olympus have already begun Increased utility to $OHM and $gOHM token through creating new bonding applications through [REDACTED]. This includes bonding for $gOHM and making the protocols base pair $BTRFLY/$OHM
• Funneling a diverse community of over 5000 directly into Olympus stakeholders
• Help build and bootstrap the launch of oUSD and its relevant Curve LPs through BTRFLY bonding
• Let Olympus focus on risk-free value while [REDACTED] branches into more strategic, volatile assets
• Help introduce more use-cases to the Olympus ecosystem including UMA KPI options and Visor Uni V3 LPs
• Route 20% of bribe capital (for Tokemak, Convex, and FRAX) from external protocols directly into the Olympus treasury. Other 80% goes towards people staking $BTRFLY
• Work directly with Olympus policy team and Tetranode to utilize governance power accumulated in the protocol to bolster future Olympus ecosystem building efforts

Proposal:

• Gain the support of the Olympus community to launch in good faith
• Create a communication bridge between our two policy teams to ensure missions are aligned.
• That’s it.

Voting Options: For: Support [REDACTED] as a new branch of Olympus Against: Don’t support [REDACTED] launch