Olympus DAO

Summary Formalize a partnership with Olympus by conducting a token swap of $250k in OHM from a 30 day TWAP from the date of execution of this proposal - in return for 500k Prime Tokens being 0.5% supply at a $50 million fully diluted valuation of PrimeDAO.

For further background and details on the motivation for this proposal please refer to the forum post and discussion here https://forum.olympusdao.finance/d/636-oip-57-partner-with-primedao-by-conducting-a-token-swap

Background We are PrimeDAO, a collective of DeFi builders and DAOists dedicated to researching and building next-generation coordination tools for the Web3 ecosystem. We are working on a product suite which aims to provide collaboration-as-a-service, which include: Motivation After discussions with the Olympus Partnerships contributors - PrimeDAO seeks to partner with Olympus asking for a swap of $250k in OHM - in return for 500k Prime Tokens (0.5% supply). Olympus would join Gitcoin and Balancer - who are proposed to partner with PrimeDAO on similar terms - subject to each’s governance vote. OlympusDAO is one of the DAOs we have been in close contact with, as we integrated some of the Olympus DAO contributors’ valuable feedback into our process for researching and designing Prime Deals. As we move forward with our PRIME ($D2D) token launch, we want to signal our intent to make PrimeDAO a DAO co-habitation space by sharing ownership and securing long-term alignment with DAOs we will be closely working with. So, we are hoping to do token swaps with our strategic partners.

Our partnership will set the stage for a strong collaboration between Olympus and Prime as we work towards becoming the primary coordination stream for DAOs. OHM wants to be the liquidity bridge/backend of the whole ecosystem. Olympus can utilize PrimeDAO as a coordination vehicle in calling a DeFi alliance and to strengthen the plasticity of ecosystem liquidity. By partnering with PrimeDAO, Olympus will be a leading voice in the creation of DAO2DAO products that enhance its offering and deal making mechanics, while supporting PrimeDAO’s push towards becoming a DAO co-habitation space.

Proposal Formalize a partnership with Olympus by conducting a token swap of $250k in OHM from a 30 day TWAP from the date of execution of this proposal - in return for 500k Prime Tokens being 0.5% supply at a $50 million fully diluted valuation of PrimeDAO. Each protocol undertakes to not reduce its holding or exposure to the swapped tokens for at least a period until 1 January 2023. Each protocol may stake the swapped tokens in order to participate in the other’s governance. Each protocol commits to explore further collaborations into the future.

Poll For: Execute token swap. Against: Do nothing.