Summary: Let's adjust system parameters away from LP accumulation and back in favor of stakers.

Background: We have recently brought in over $8m through bonds. Total protocol owned liquidity now exceeds $10m. Total queued rewards are now greater than 300k OHM (nearly 4x current staking pool) - 380k if you include what the DAO-held LP will mint. This is more than 3 months runway, 50% more time than when we started nearly a month ago.

Abstract:
I believe we should:

  • Raise the LP bond BCV from 100 to 200 (it has already been raised to 150)
  • Raise the LP minimum premium to 30 (LP bonds will not have a discount below $950)
  • Raise staking reward rate to target 250,000-350,000% APY instead of 100,000-150,000% (a 10-15% boost to the epoch rebase)

This should allow the protocol to take a breather and the market to release a bit of pressure. Staking will become deflationary which should serve to correct some of the dilution experienced thus far. The market will readjust to supply as it now is, and then we can pick up into a new leg of treasury accumulation.

If this passes, a new proposal will be posed in one week to reassess. We should not remain in this state for too long - think of it as a cheat day.

Motivation: To allow the market time to readjust to supply in a lower-inflation environment.

For: Make the adjustments
Against: Keep the system as is

Voting link: http://vote.olympusdao.finance/

    The runway?? Does that mean we have enough to pay the apy for 3 months or does that mean something else?

    I don't understand why but if you think it is good adjustment for market + good for stakers then 2 birds with 1 stone? I vote for.

    Would be helpful if those voting could say why they're voting for/against.

    Bonders go on vacation while Stakers celebrate a holiday Staking festival.