Turtleback with a secondary market, you remove the time component from the bond game. Instead of needing to watch (or have a bot) to get the discount, you just have a market that people are buying/selling into perpetually. It should make it much easier to participate, and wider participation should mean lower discounts.

benefit greater than or equal, emissions less than or equal

We may be interested in researching and offering bond strategy vaults with jAssets at Jones DAO.

Is it correct to say this whole new mechanism in general makes staking less attractive (as it is now the "baseline" rate instead of the dominant strategy)? I think it also means there is an increase in dilution experienced by stakers. Should there be concern that this leads to more short-term activities and incentivizes higher risk taking (e.g. leverage), or is that an overreaction?

    after reading this and the paper proper to me; partner protocols like DPX and Jones DAO seem excellent as initial vault / repot market participants

    I'd really put emphasis on the ability to deploy such a program on arbitrum and perhaps eventually zksync
    I would think that enabling the less economically empowered but still sophisticated actors of many hands could help bring balance to such a system…

    all and all -- while V2 was a good step V2 on L2 could be an excellent interim step towards this end vision.

    Thanks for writing this paper out in a manner a midbrain lazy moonboi can digest.

    I cannot stress enough that USER EDUCATION -- a playgrounds V2 would need to be a pillar of such a new paradigm

    cheers Zeus - Indigo

    biscuit

    I would ask many of the same questions, what I like so far is it introduces longer term staking essentially through long expiration dates. I don't mind simple staking that you can enter and exit with minimal friction as a "base rate", its already the case that its a base rate compared to say depositing gOHM into an SSOV on Dopex or in Jones DAO.

    biscuit well biscuit … with the vesting V2 (4,4) bonds.. assuming you're 3,3 and have the time / means to sell and snipe bonds.. you'd want to bond everytime the margin is > than the friction to sell and rebond right?

    This to me finally delivers on a pseudo locked stake type mechanism for those longterm 3,3 ers giving them a straightforward enough means to gain share.. and compete with bondors as they exist today.. and cuts the sell pressure out of the equation while doing it

    I'd see myself cutting my bag up into 3 sets of rolling 90 day expiring bonds… or eventually to a vault partner to manage such a strategy

      Churchee agree with you and @ptp1600 . Long dated bonds in theory become the optimal play for those with a long-term outlook, but then you are taking on interest risks, which current staking does not have due to liquidity. I guess it shifts the types of participants a bit towards more sophisticated and full time traders rather than just casual retail. That should bring in more and bigger players, leading to higher volume, deeper liquidity, and more products around the ecosystem…. All that is to say I think I am beginning to see the vision.

      Dopex or Jones DAO then becomes more vital for those retail players that want to set it and forget it with a high conviction play on the long-term success of Olympus.

      Is there any intention or possibility of adding a coupon rate to the internal bonds down the line if we move in this direction?

      • Zeus replied to this.

        This in effect will force more people to lock up ohm to search for higher yields causing a supply shock in addition to lowered emissions for single staking causing upwards pressure on ohm price.. am I'm on the right track??

        How would this new model effect staking? Would it still even exist? Speaking as someone who has only ever 3,3.

          CosmicRadii from what i understand staking will still be available but it just wouldnt be the exorbitant triple digit percentages. if you want to receive those rewards you have to take the risk of being illiquid for a certain amount of time.

            Zeus sure - so far all our bonds have been 0% coupon rate - you get the discount you agreed upon at purchase upon term expiration plus auto staking rewards in the interim (but I don’t THINK those are analogous to coupon payments) If we shift to a model with longer dated bonds, one way to dampen interest rate risk is to purchase a bond that pays out some “cash flow”(OHM) along the way. Sorry if I missed any details explaining such a mechanism in the paper.

            • Zeus replied to this.

              ser,so the internal bond's yield comes from where? Are these yeild come from the total token emmissions which means the emmissions for staking will be less?

              Is this similar to what Fantohm just implemented with $Fhud?