Olympus DAO

Summary

Assist Goddess DAO with gOHM launch liquidity by providing $1.5mm gOHM liquidity with its GNT token - which will then be bonded back to Olympus as gOHM bonds through Olympus Pro. Provide Olympus 1.5% of Goddess DAO governance token for its assistance on the condition it is retained in the Olympus treasury.

Background

Flow Carbon/Goddess DAO aims to accelerate market adoption of tokenized carbon offsets, creating a liquid and transparent market. This market gives project proponents who create offsets access to instant liquidity, from the same pool that corporates can buy from at scale.

What is GNT?

GNT is a bundle token composed of individual ERC-20 tokens called GCO2. Each GCO2 is backed 1:1 with one metric ton of un-retired carbon credits. Different GCO2 tokens are specifically linked to a specific batch of credits issued for a specific project. Each individual GNT token represents one metric tonne of carbon certified as an offset, and meets the following criteria, which directly track what corporate buyers are seeking in the market: Certified by one of the market-recognized certification bodies, which currently are: Verra, American Carbon Registry, Climate Action Reserve, or Gold Standard Certified pursuant to a nature-based methodology from the above registries (i.e. REDD/REDD+, ARR, IFM) Vintage (issuance) year not more than five years old

For further background on GNT, Goddess DAO and Flow Carbon please see the forum discussion here https://forum.olympusdao.finance/d/994-oip-71-goddess-dao-launch-liquidity-assistance-proposal

Motivation

Goddess DAO aims to be a long-term values-aligned protocol with Olympus and see the value of and potential of OHM to achieve its vision. Flow Carbon previously conducted an otc swap of carbon credits (to create BCT) for OHM to Olympus, for the purpose of vesting its pKLIMA tokens. See: <https://forum.olympusdao.finance/d/187-oip-36-purchase-bct-in-the-otc-market-before-klima-launch ](https://forum.olympusdao.finance/d/187-oip-36-purchase-bct-in-the-otc-market-before-klima-launch) The Flow team immediately staked the OHM from this sale and still holds it today. <https://etherscan.io/token/0x04f2694c8fcee23e8fd0dfea1d4f5bb8c352111f?a=0xab9952041329fda60288d17116b8cb959c920713 ](https://etherscan.io/token/0x04f2694c8fcee23e8fd0dfea1d4f5bb8c352111f?a=0xab9952041329fda60288d17116b8cb959c920713) Having deep liquidity for the GNT token is essential for the launch - and Goddess DAO believes it would strengthen the launch for it to be paired with gOHM. Olympus is best placed to assist in this endeavor, and to show gratitude to the Ohmies, Flow is providing some of Goddess DAO’s governance token supply to the Olympus treasury. Flow hopes for this to be the first step in a long relationship with Olympus that will be mutually beneficial.

Proposal

Olympus to swap 80% of the BCT in its treasury for GNT to be held in the Olympus treasury and used to interact with Klima for the purpose of bonding or redeeming for KLIMA tokens Olympus provides $1.5mm in gOHM for initial liquidity of GNT as GNT-gOHM on Polygon - Goddess DAO will bond $1.5mm of gOHM (as an equal number of gOHM paired with the GNT) through Olympus Pro (OP) to Olympus and then Olympus will release the liquidity to Goddess DAO (Goddess DAO will not reduce or dispose of the gOHM within 24 months of launch without the consent of Olympus) Goddess DAO will provide $50K GDSS to Olympus to seed a liquidity pool of gOHM-GDSS and bond a further $50K in gOHM to Olympus through OP Goddess DAO will provide Olympus 1.5% of GDSS supply on the condition that it can’t be disposed of without the consent of Goddess DAO

Polling Period

This vote will be live for at least 72 hours.

Poll question

For: Approve the launch liquidity assistance proposal Against: Do nothing