• General
  • A Cooperative Proposal from Squid God Finance

A Cooperative Proposal from Squid God Finance @Mark11

Motivation

The main purpose is making a solid connection between OlypumsDao, bringing the innovative model to wider audiences, and at the same time back-feeding the OHM ecosystem and community.

Proposal

Squid God Finance is applying a similar (3,3) business model and there will be assets accumulated in the DAO reserves as we grow. With the cross-chain bridge established by a well-known cooperative partner, Squid God Finance proposes: (Join SquidGod server to give us suggestions)

  • to contribute 20% of the DAO reserve as the Special Foundation, only for the cooperative purpose with OlympusDao.

  • to have 60% of the Special Foundation donated to OHM treasury; 20% of the Special Foundation airdropped to the OHM users; and 20% donated to OHM DAO.

  • to apply bridged OHM as the whitelisted asset as the reserve for the SGT treasury.

  • that it will be the bridge of OHM to other Defi protocols on BSC.

  • that it will be the experimenting protocol for more functions based on the (3,3) model.

The future roadmap of Squid God Finance

An introduction of the roadmap of Squid God Financeand why it will be more than just a (3,3) fork.

  • The five-day bonding time is experimental. We are planning to introduce multiple types of bonds with different lengths of maturity. There will be more than just 5-day bonds and it will bring more flexibility to the game.

  • Squid God Finance will Introduce an additional governance and community token, separately from $SGT. The governance token will be airdropped to SGT stakers and OHM stakers after being launched. The token holders will decide the parameters in the monetary policy and be entitled to the platform profits when staking.

  • Squid God Finance will create a native stable asset based on SGT as it grows. This stable asset will be backed by SGT and pegged to 1 dollar.  The new stable coin will create additional types of asset or asset LPs for bonding, and further strengthen the Squid God Game.

  • Squid God Finance will launch on multiple chains in the future. The future reserve currency should not just be limited to one blockchain. The multi-chain deployment will introduce the usage to wider groups of audiences.

  • Squid God Finance will Introduce a new mechanism in wealth accumulation in the treasury, by borrowing liquidity from the market, for the creation of $SGT. Lenders will be rewarded in a number of different ways. And the treasury will grow from extra leverages.

If you like our proposal, please up-vote us in the OIP-41 - Launch Olympus Incubator program. Thank a lot.

Supplement: What is Squid God Finance?

Squid God Finance is a decentralized reserve currency protocol based on the SGT token on Binance Smart Chain.

Conceptually, it is inspired by Netflix's TV Series Squid Games.

Economically, it imitates the model created by OlympusDao.

The protocol launched on BSC with the native reserve token ‘SGT’ on 31st Oct 2021.

Each SGT token is backed by a basket of assets (e.g. USDT) in the treasury, giving it an intrinsic value that it cannot fall below. Squid God Finance also introduces the economic and game-theoretic dynamics into the market through staking and minting.

It is a community project created by a group of DeFi enthusiasts, experienced developers, observers, and community builders. The goal is to further expand OlympusDAO’s innovative decentralized financial model to wider audiences, bring attractive yields for (🦑,🦑) players and finally create the Future Reserve Currency on BSC.

Twitter: https://twitter.com/SquidGodFinance

Blog: http://squidgod.medium.com

Discord: http://discord.gg/QEMxZ4dbe4

Docs: http://docs.squidgod.finance

Github:http://github.com/SquidGodFinance

    Lovin it. Why not have some more exposure on BSC.

    Are you serious with this offer? Seems quite impressive if you can really deliever your commitments! If so, why not @olympousdao to accept such deal for all OHM and holders' sake?!

    Wonderful. 👍👍👍

    As the holder of sgt and OHM at the same time, I look forward to reaching the above cooperation, which will benefit both parties.😜😜

    🍕

    It's a good idea, and if it works, it will make a splash  

    The project just launched. What if it turns out to be a star project?  Come on, hope more people participate

    The ideas are quite creative TBH.

    I say why not.