gnostication Thanks for the feedback - totally agree that 250K is a lot of money and I imagine that it would be a rare case that that sum would ever be dispersed - it is the upper bound of where I consider we would fund depending on the negotiated deal. I imagine that the average would be under 100K.
Is OHM to be used for high-risk VC activities now, and deviate from its focus as a risk-mitigated reserve currency?
The plan for Olympus is to be a decentralized reserve currency backed by a basket of assets - the updside from a gaining significant share of the governance token of a promising protocol on a risk adjusted return is stratospheric.
Imagine for a moment that we paid 100K and got 5% of a protocol's governance token - then that protocol goes on to be a $500 million protocol - we just turned our $100K into $25,000,000 in Treasury assets a 250x return. You get the idea.
I can’t understand how the activity of incubating projects could be considered high risk.
Also, what additional burden does this place on the core DAO team?
The DAO is made up of over 100 contributors in my answer to Kleb I set out that - Advice and assistance carries with it certain inferences about the amount of time required and, as it would be remunerated in comparison to the ordinary compensation, it would be minimal if the assistance is a small part of their overall roll in a given week. I imagine it would only amount to a few hours a week from several DAO members depending on the advice or assistance required - it would of course vary from time to time, maybe less at the start but more in the week before they launch.
What kind of vetting for each project will be required?
We would look at the founder and team’s background, experience, development to date and any industry references – in terms of vetting and additional considerations concerning selection. We would expect the any funding provided to be held in a multisig.
This proposal carries an entirely new set of work load as a result of the new line of business.
The minimal work required from some contributors some of the time would be characteristic of their ordinary area of contribution.
Separately - I am currently workshopping some additional parameters to put a cap on total quarterly expenditure of the program and reporting requirements - and will post back soon.