Olympus DAO

Summary Formalize a partnership to integrate and align PhantomDAO and Olympus - by endorsing PhantomDAO as a partner project within the Fantom ecosystem. PhantomDAO 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 PhantomDAO. Olympus commits that it will not reduce its exposure to PhantomDAO’s governance token. PhantomDAO also proposes to have 10% of its initial treasury to be held in gOHM with the intention to increase that percentage - subject to approval of community governance.

For further background of this proposal please see OIP-59 forum proposal and discussion here https://forum.olympusdao.finance/d/655-oip-59-partnership-with-phantomdao

Motivation We are committed to aligning with Olympus as a community as we believe our values are shared. We are confident that both parties will benefit from this relationship through the integration of our communities.There are a number of potential areas for further collaboration between Phantom and Olympus, which can be explored at the appropriate time.

Should this proposal pass - we expect to work closely with the Olympus DAO contributors to explore how Phantom Accelerator and Olympus Incubator can mutually benefit from referring applicant dealflow to each other and supporting appropriate projects side by side.

As it currently stands, there are a couple of areas worth flagging: Olympus’ Incubator is a natural alignment for Phantom’s Accelerator program. Phantom can be a powerful partner who can support Olympus on projects that make sense to both communities - simultaneously spreading risk and increasing diversification. Phantom inherently increases the demand for OHM by holding gOHM in its treasury. The success of Phantom will ultimately put upward pressure on OHM’s price and ultimately increase OHM’s runway by maintaining a higher premium in the market. Olympus directly holding 3.33% of Phantom’s supply and voting influence.

In the future, we envision ways to deepen this partnership through DAO-to-DAO swaps and other mechanisms which we will be open to exploring with both communities’ input.

What else do we ask of the OHMies? Outside of the above, it is our hope that both communities can harmoniously exist and mix with one another. Phantom already has a great number of OG OHMies involved who understand the ecosystem and are extremely supportive of this proposal.

We would like to be Olympus’ de-facto partner on the Fantom chain and continue to propagate all of the positive externalities Olympus has created over time while being more agile in our yield strategies, seeking to provide support to up-and-coming web3.0 founders that seek to broaden crypto’s reach and exposure.

Proposal Formalize a partnership to integrate and align PhantomDAO and Olympus - by endorsing PhantomDAO as a partner project within the Fantom ecosystem. PhantomDAO 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 PhantomDAO. Olympus commits that it will not reduce its exposure to PhantomDAO’s governance token. PhantomDAO also proposes to have 10% of its initial treasury to be held in gOHM with the intention to increase that percentage - subject to approval of community governance.

Polling Period The polling process begins now and will run for at least 24 hours. After this, a Snapshot vote will be initiated and open for at least 48 hours.

Poll For: Approve the proposed partnership Against: Do nothing