Shreddy By integrating Spartacus' treasury, development team, and community with those of Olympus, we will strengthen our RFV while welcoming potentially valuable team members
First & foremost, we shouldn’t be dishing out a grant to a non-communicative development team.
Although the treasury and the SPA community could ultimately benefit Olympus, it doesn’t make sense to dish out a 500k grant for a dev team who have ghosted the project for over a month…
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Shreddy gOHM equal to US$50 (the “Tender Price”), reflecting a premium to the SPA market price of approximately US$34.25
What was the due diligence process here? The rationale that Olympus should absorb sell pressure at an all-time low doesn’t exactly scream a sign of confidence for existing Ohm holders? I’d imagine a lot of Ohmies who are already in the red would view this as an illogical next step… Ohmies need a better explanation to why this would benefit them, even though the treasury ultimately benefits -> which ends up benefiting ohm holders. We also need to consider the weird precedent this sets for other forks who ultimately diluted Olympus as a core infra piece in DeFi. The discount to MV needs to be re-evaluated given how -EV projects like this were for Olympus as a whole…
I can see a lot of Ohmies viewing this as; ‘Why give fork chasers a chance to exit via the very project they were extracting value from’. Again, this isn’t necessarily my view but I’m attempting to see this from the perspective of another Ohmie.
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Shreddy an additional period of 365 days will begin after the Tender Period (the “Straggler Period”) in which Olympus will pay, in gOHM, 90% of the USD-equivalent of the Tender Price
The ‘Straggler Period’ should be significantly shorter (ie. 90 days). In the scenario we execute other tender offers, Olympus should be cognizant of timelines and be looking to consolidate action instead of letting getting lazy and leaving things open for an *almost indefinite period of time…
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This is ultimately a no from me until we;
- get more communication from the SPA team.
- re-evaluate grant sum
- reconsider discount to MV