Summary: Divert a portion of Ethereum liquidity to alternative chains to broaden our addressable market.
Background: OHM is currently only available on Ethereum. Gas prices on Ethereum are prohibitive, leading to increased use of alternative chains. We already have plans for Arbitrum (still waiting on a gnosis implementation, multi-sigs are important) but not others.
Olympus currently owns ~$245m liquidity on Ethereum ($122.5m stables + $122.5m in OHM).
Abstract: Remove an amount of liquidity from OHM-DAI on Ethereum and bridge it to new chains. Liquidity pools on those chains would be with wsOHM -- users will look for staked exposure and so it is easiest and most effective for us to pair with wrapped sOHM (which can be bridged).
We can run bond programs on these chains to build more liquidity, but that would be a follow on proposal.
Motivation: Expand the reach of Olympus beyond Ethereum.
Drawbacks: Fragments liquidity across chains.
Options to discuss:
Execution: Yes vs No
Liquidity Pair: DAI vs MIM (Spell has voiced a desire to include/willingness to incentivize MIM in treasury already)
Chains: Avalanche, Fantom, Matic, Harmony
Liquidity per Chain (only stablecoin side): $5m, $10m, $15m
If I am missing anything here, do not hesitate to speak up!