Olympus DAO

Summary: The DAO currently holds liquidity that can be used to mint new OHM. We should deposit that liquidity into the treasury instead of keeping it with the DAO.

Background: The DAO initialized the OHM-DAI liquidity pool when we launched last month. In total, it holds 1.1588 SLP; 0.8188 in the DAO wallet and 0.34 in the Onsen pool. That liquidity remained with the DAO due to concerns about rapidly increasing total supply (the entire LP share will mint approximately 80,000 OHM). However, supply has increased to the point that this is no longer concerning. A third is deployed into the Onsen rewards pool to earn $SUSHI, but the rest is unproductive.

Abstract: We should deploy the unused 2/3 of the liquidity (0.818 SLP worth ~$1.6m) into the treasury and get it over with. This will lock it with the rest of the accumulated SLP and make our dashboard more accurate (it currently underestimates protocol-owned liquidity by 25%). This will mint 55,458 new OHM for the staking distributor.

Motivation: Accurate data and correct separation of funds.

For: Deposit DAO-held liquidity (minus what’s in Onsen) into the treasury, send new OHM to the distributor. For: Deposit DAO-held liquidity (including what’s in Onsen) into the treasury, send new OHM to the distributor. Against: Keep the liquidity with the DAO.