Olympus DAO

Summary: The DAO currently holds over 200,000 OHM meant to be utilized to support and expand Olympus and its’ ecosystem. We believe an important way to do so is via strategic partnerships with crucial infrastructural protocols in the industry. We would like clarity on our ability to pursue swaps with aforementioned protocols, and strategic entities, as a way to bolster our utility as the reserve currency of the Decentralized Finance industry.

Abstract: We propose a clear mandate allowing the DAO to pursue strategic swaps. Swaps may occur at par, a discount, or a premium, depending on additional factors involved with each deal. Strategies may include commitments to bond the partners’ token, especially within OHM-X pools.

All decisions would be voted upon prior to finalization. Approval here allows DAO members to initiate conversations with other DAOs and entities and structure terms that should be agreeable both to the counterparty and the Olympus community. In other words, this provides permission to speak on behalf of the DAO during the legwork of these proposals.

Potential partners include (but are not limited to): Sushiswap, Maker, Aave, Frax, Rari, Tokemak, and Yearn.

Motivation: Increase OHMs use and utility as a liquid reserve asset, and bolster Olympus’s influence within the DeFi industry.

Concerns: DAO-owned OHM would be introduced into the market. However, it would remain in the possession of those who are highly likely to remain long-term aligned with us.

Vote: For: Approve DAO to pursue strategic swaps Against: Do not approve DAO to pursue strategic swaps.