Having seen the impact of the recent large exchange sale of Ohm… Redacted is trying to avoid the same situation, see below:
https://twitter.com/shotta_sk/status/1483625341448978432
I propose that Olympus set up smart contract or other procedure/mechanism where OTC service is offered for large bag exits selling Ohm. It would be simply the reverse of the bonding… a "de-bonding" if you will..
As a reserve bank, we will be dealing with a lot of such large transactions, like using DAO to DAO transfer or swap.. we can have one where multi-sig approve or policy/treasury team approve or sign off on the OTC request to sell Ohm back to treasury…
The way it works:
- Such Ohm OTC Sell requests would only be approved during downtrends (severe ones? decision up to policy/treasury teams), since selling into pumps does not carry the same harm.
- It could be allowed only for amounts that are X% or more of the circulating supply… say 1% or more
- Quote + Fees can be provided to the seller the transaction would take place at a suitable time.
Perhaps incoming bonds would be used to pay for the sale, then the amount of ohm taken from seller would be used for runway or for the next two or three rebase rewards without minting new ohms..
I am sure there are many pros and cons we can discuss but I would like to kick off this discussion with the purpose of making Ohm more stable (reserve currency, needs less volatility) especially in downtrends…
