Olympus DAO

Summary

To be eligible for the airdrop, LayerZero is requesting a RFP from every eligible project.

The Protocol RFP (Request for Proposal) is the first step in the TGE allocation process, which gives each project the ability to establish its own allocation criteria relative to its overall token allocation.

Relevant links: https://commonwealth.im/layerzero/discussion/17402-clarified-rfp-criteria https://commonwealth.im/layerzero/discussion/17246-protocol-rfp

Motivation

We are expediting the following OIP to have the community vote on the preferred distribution allocation for tokens that the Olympus Protocol is entitled to. Following the discussions made in the community discord and on the forum, we must now formalize and vote as a community before submitting to LayerZero.

Proposal:

The distribution criteria has certain restrictions as qualified in Clarified RFP Criteria.

1. The developer allocation (maximum 10%) can be used for any purpose chosen by the developers, including expenses, audits, future community incentives, etc.

2. Protocols cannot request an allocation for their treasuries; any such request must come from the 10% developer allocation.

3. The remaining 90% allocation is intended as retroactive rewards for the users and community members of the protocol.

Based on this criteria we propose the following for community consideration:

Option 1:

• 10% allocation to Devs / Olympus Treasury
• 30% distributed to those that bridged 10 ohm or more before LayerZero Snapshot 1.
• 60% to ohm/gohm holders (cooler loans count) before LayerZero Snapshot 1, with 10 ohm minimum

Option 2:

• 10% allocation to Devs / Olympus Treasury
• 90% to to cooler loan holders before LayerZero Snapshot 1, 10 ohm minimum

Please note that a separate snapshot (OIP-162) is active, to decide on whether to apply an even distribution to all wallets meeting the criteria, or a weighted distribution based on amount of OHM held.