In order to be transparent in general but also specifically with regards to the upcoming “pillar project” proposals, the DAO contributors would like to present a list of projects currently being worked on and planned for. This allows the community to have full context on why certain projects were chosen to be pillar projects. The community (OHM holders) retain full control to decide which projects should be pursued and separately which projects should be incentivized and prioritized by being pillar projects.

You can read more about what pillar projects are in the compensation proposal that was passed by the community, but the summary is that they are projects that are key focus areas of the DAO for 2023 and add the most value to OHM in terms of quality and utility.

The list contains a very high-level description of each project, with no deadlines or further details as those will be brought to the community in a separate proposal when the project is ready to be voted on. This post will be kept updated as time goes on and projects are added/removed.

Project List

Emissions Framework - Emissions Framework v1 seeks to formally identify all the different ways that the protocol emits OHM. The output of this project will be a matrix of all emission modes, and how each mode should change (increase or decrease its emissions) based on a collection of metric-based scenarios.

Automated Emissions Controller - The automated emissions controller will implement the emissions framework in smart contract form. This will enable different components of the protocol to automatically adjust the emission rate of OHM in a predictable and transparent manner.

OHM Bonds - Transitioning OHM emissions away from pure liquid staking to OHM bonds.

On-chain Accounting - Build a secure, decentralized, and extendable system for accounting for protocol owned assets and OHM as a foundational building block for Olympus V3 products, such as RBS 2.0, a CDP facility, lending vaults, and automated emissions controllers, that require on-chain data to make automated decisions.

RBS 2.0 - Range Bound Stability (RBS) v2 is the next step in improving the stability of OHM. RBS v1 was designed to dampen OHMs volatility, but allow OHM to have the possibility of achieving a significant premium to backing. While desirable from certain perspectives, it is more risky and prevents valuable use cases, like lending, from being realized. RBS v2 leans into a backing-derived target as a solid foundation for building a more robust system.

On-chain Governance - Transitioning from current OIP/Snapshot/Multisig execution flow to a custom on chain governance system.

Cross-chain (Mint & Burn) (completed 2023/05/05 - within one month of deadline 2023/05/01)- Create a bridge using LayerZero to allow canonical OHM to be minted and burned across chains. Enables cross-chain OHM and access to L2 markets.

Boosted Liquidity Engine / Liquidity AMO (completed 2023/04/18 - within one month of deadline 2023/04/01) - Build the capability and framework for the Olympus treasury to mint OHM (single-sided) directly into liquidity pair vaults against select, high quality assets. The counter-asset will be provided by partners directly or from individual holders with partner incentives.

Lending AMO - The project is the first foray of Olympus into DeFi credit markets, with the aim for OHM to not just be a good collateral asset but to become a good borrowable asset as well. More specifically, the project aims to test minting OHM directly into lending markets.

Treasury Management - Revamping Treasury team and processes.

Landing Pages - Create a holistic overview of the value propositions to the different customer segments of OlympusDAO in the form of landing and dedicated product pages.