OIP-94: Interim Ranged Stability Policy Levers
The price and 120 day moving average could meet at 50 $after 1 month or 30$ after 2 months. The ma is going down as well donβt forget that
Additional Proposal: I'd like to propose that instead of burning the OHM, we segregate it and use it to incentivize Olympus Pro clients to bond OHM-X LPs.
This is a prime opportunity to experiment with incentivized utilization of OHM as a unit of exchange - isolating these tokens instead of burning will remove the OHM from circulation until utilized in an OlyPro LP Bond. It should not be staked. As such, until eventually purchased from the respective LP and staked, no dilution will result from the OHM in this stash. This would also prevent a situation in which the amount of OHM burned becomes detrimental to long-term expansion goals.
While OIP's-93/4 will help to stabilize OHM and hopefully reignite interest from the wider community, we need to find other methods of diffusing OHM throughout the system. Odyssey is a great move. As are many others. Let's use this to-be-burned OHM to get ETH and DAI out of swaps between OHM and Olympus Pro partner tokens.
I saw a little interest in Discord, but if folks are for it here I can write up a post in General.
bouttreetreefiddy Could you please write something up on this, saw a bit of this discussion as well, I'm definitely a yes for this and really just have questions around whether there are better ways to use the Ohm beyond burning it, so your post is well timed
bouttreetreefiddy There will be some new products that partners can leverage if they alternatively bond gOHM in (versus us providing the OHM captured here).
Interesting thought though - would be keen to read a proposal in General or on Discord.
streetjesus I did see that and agree that would be really positive. I don't think it's an either-or, I think both that and what I'm suggesting would be helpful in advancing the ohm network effect.
in favour (period)
In Policy Team We Trust. In favour ofc
This will create really interesting trading dynamics. Excited for it.
- Edited
First of all, LFG.
But I just wanted to raise one question, echoing some of the comments made above, on why we want to burn the OHM? I understand that this makes sense from a reducing supply standpoint but since OHM will continue to rebase the effect on the total supply decrease will be short-lived and I don't see how burning adds a lot of value.
More importantly though, I think that this OHM could be used in better ways. What if instead of burning the OHM we send it to the DAO Funds address? That way we extend the runway of the DAO since normal bonds will be switched off during this 90 day period (and hence the DAO has lost its funding stream). Alternatively, DAO-owned OHM from this address could be used for partnerships, incentivization programs, or some other causes. And if it turns out we don't need the OHM after all we can always burn it at a later stage (or perhaps to add it back to an LP later on).
Interesting ideas, though it's important to note that the Treasury can simply re-mint the OHM as needed for these kinds of initiatives. In the meantime, I really prefer to have the OHM fully out of circulation. It's cleanest from a supply perspective, to not have to specifically earmark certain OHM tokens.
Haha big wall I like
Having the liquidity removed ohm be burned futhers the impact of our inverse bonding lever by reducing supply at the same time as pushing price levels. Would much rather this than reintroducing that liquidity right back into the market. We have funds for project incentives already do we not?
Yes, let's go
I hope this passes so I can pump and dump Ohm. Inverse bonds above backing will make the treasury pay a premium for each Ohm and reduce the backing for remaining holders, perfect for transferring the treasury to swing traders. Please vote yes.
Guys, the proposal does not explain how protocol would benefit from selling its treasury assetsβ¦ Wouldnβt that create even stronger pressure for selling OHM, eventually even resulting in breaking the buy wall?
Reubz u forgtetting liquidity will be pulled making buying or selling ohm move the price much. Swing trading wont work without liquidity this is perfect for what ohm is and trying to do. Cant manipulate price really if not the liquidity to do so