Olympus DAO

Goal: Liquidity for gOHM on Fantom is lacking and prevents Exodia from adding gOHM bonds. Exodia wants to kickstart a gOHM Beets pool by trading $300K DAI from its treasury for $300K of gOHM on Fantom. The currently suggested pool composition will be gOHM-[stable coin]-FTM-wsEXOD-EXOD. The initial liquidity of this pool will be about $1.5M. If our latest proposal passes the stable coin will be MAI otherwise it will be DAI. Beethoven X is an official fork of balancer on Fantom, which focuses on trading efficiency, unique investment pools, and ecosystem collaborations.

We want to add more gOHM to our treasury by adding gOHM bonds and to do so bonders need to have easy access to gOHM so they can bond without having to bring the funds from another chain. Seeding a Beethoven X pool will give us the necessary liquidity to start the bonding process and we will keep adding liquidity to this pool as this will be our main liquidity pool. The trading fees will also bring a revenue stream to Exodia.

Adding gOHM liquidity and gOHM bonds will help bring us closer to the Olympus community that has helped create us. This also helps us grow hand in hand with OHM and create a more symbiotic ecosystem among the large OHMie community, of which Exodia is a piece of. We will also move a majority of the liquidity from SpookySwap to Beethoven to take full advantage of this switch, the remaining liquidity on SpookySwap will simply be to help communicate price action between the Beets pool and Coinmarketcap, Coingecko or people using those APIs. We expected to reduce the liquidity to roughly $20k.

The current liquidity available for gOHM on Fantom creates unreasonable slippage to buy from the market which would decrease the liquidity we can offer to Olympus. By doing the trade OTC we can get the maximum amount of gOHM which can go towards the liquidity.

Vote: For: Sell 300k DAI worth of gOHM in order to seed the EXODIA BEETS liquidity Pool on Fantom. Against: Don’t do anything