dr00 Hi dr00, We would like these funds to go into growing the OHM treasury. In addition we have no intent to sell the $1m which we would bond.

    I'm not sure I follow the logic of putting the protocol even further below backing by making the purchase through a bond. At the very least, anyone looking to acquire OHM should have to market buy below backing and only have OTC access when above backing.

      I'm with @pottedmeat on this one. You're asking to give an undoxxed team a huge chunk of ohms funds at less than mates rates.

      Unmask first so we can see your credentials, your burn plan should this venture fail and your pledge to not interfere in any dao votes.

      Or yunno, buy it on the open market.

      Sorry just my personality, but cant stop thinking Trojan Horse. Part of the reason I stay invested here is the conservative and cautious way our community approaches treasury investments. Also how does this affect governance of the DAO.


        dio I imagine they become a super bloc, voting in their interests each time. Much as the shadowy 'Bancor Foundation' does. No thanks.

          Currently voting against because I don't know why you should acquire OHM with discount rn when it's below backing. Also don't like we're kinda blind and don't know anyone who's behind the team.

            The real-world legal entity we form that sits on the board of Bond Protocol, should have air-tight terms with this real-world legal entity (if this proposal passes) that prevents it from acting as a super-bloc to act in the interests of its shareholders (profit-driven motives no doubt) against the majority consensus of the DAO.

            dio Appreciate the concerns. To be clear our intentions are good and aligned with the goal of making OHM the next reserve currency of Defi. So couple things, when we wrote this proposal, we were above backing. We think its fair to not be able to purchase a reserve bond below backing and can make this the floor in the final proposal that goes to snapshot. As of today, a 1M buy would make us the 29th largest OHM holder. We would hardly have enough voting power to have any more control than any other DAO or individual involved in the project. This is also an option to bond, we have to go close the capital and we wanted the DAOs support before we did so. The reality is having the DAO vote on this gives us the credibility to bring in outside capital during a bear market. The 2.5m in engineering and product is to build applications and utilities that unlocks value for all OHMIES. Once we close capital and before we execute the bond, we will ensure we are doxxed. The DAO can not turn on the bond if we don't do that. This is not a trojan horse, there is no ill will. We are super bulls when it comes to OHM and what the potential of the project is. We want to enable it. We are looking at this OIP as an alignment exercise.

                This proposal would be a lot stronger if you guys had finished fundraising, was fully doxxed etc…but you probably need this OIP cleared as part of your marketing to VC's. I get it.

                Unmask first (I swear, if this is you Dani..)

                  EconohmicLabs Appreciate the concerns. To be clear our intentions are good and aligned with the goal of making OHM the next reserve currency of Defi. So couple things, when we wrote this proposal, we were above backing. We think its fair to not be able to purchase a reserve bond below backing and can make this the floor in the final proposal that goes to snapshot. As of today, a 1M buy would make us the 29th largest OHM holder. We would hardly have enough voting power to have any more control than any other DAO or individual involved in the project. This is also an option to bond, we have to go close the capital and we wanted the DAOs support before we did so. The reality is having the DAO vote on this gives us the credibility to bring in outside capital during a bear market. The 2.5m in engineering and product is to build applications and utilities that unlocks value for all OHMIES. Once we close capital and before we execute the bond, we will ensure we are doxxed. The DAO can not turn on the bond if we don't do that. This is not a trojan horse, there is no ill will. We are super bulls when it comes to OHM and what the potential of the project is. We want to enable it. We are looking at this OIP as an alignment exercise.

                    shadow changed the title to (RFC) OIP 113: EconohmicLabs .
                    1. reserve bond below backing makes little sense for either parties, but I see you mention this was written when we were above backing
                    2. this is too ambiguous to be an ask

                    This proposal was never a request for comment (RFC) and because of that I moved it to the general section. You can't proceed to Snapshot vote before first being in the RFC section to gather feedback, OIP and then Snapshot.

                    This statement is also confusing me:

                    By focusing solely on the Olympus Econohmy, Econohmic Labs is asking the community for matching funds dollar for dollar based on our outside capital raised. By the Olympus community betting on Econohmic Labs, outside capital will be more comfortable making the bet themselves.

                    Can you clarify this request? It sounds like you're asking for Olympus to match the funding you raised, but it is not mentioned under the "Asks."

                      EconohmicLabs can you elaborate on applications and utilities and/or the business plan here? All of this sounds like a great idea but I'd also like to see the numbers behind it, what happens if things don't go according to plan, if Olympus will ever hold a %share or guaranteed return type of a thing. Right now since there could be a market buy of the OHM are the asks essentially for first look/named partnership?

                          hOHMwardbound There is no formal financial relationship here other than Econohmic Labs being a holder. We want to build applications, services, and utilities that enable OHM to get to it's end goal. Our goal, is to acquire more OHM through operations. An example offering Econohmic labs is working on is econohmic on-boarding a fiat on-ramp enabling easy DCA of OHM to simplify on-boarding new ohmies. We think this a critical gap we can fill while the DAO focuses on core objectives and roadmap. If things do not go to plan we will be a large holder of OHM which we intend to find other use-cases for. In addition, an open dialog with the dao and council will aid us in growing our vision: applying utility to ohm. The conversation will be what does OHM need that it doesn't have the bandwidth for now and maybe we can fill those gaps. If you believe in OHM, the possibilities of what we may build on top of it are endless. We are focusing on the things we think will work best out of the gate before getting broader in experimentation.