• Proposal

  • OIP-44 Implement Lobis as a governance arm of OlympusDAO

Interesting idea. If execute well this would be a huge win win for OlympusDAO and LobisDAO.

LOBI tokens can be airdropped to active Olympus community members, and they need to bind the community to increase their enthusiasm

Hey, i really love the idea of Lorbis. Thank you for showing us the way. Fantastic

LobisFinance Don't forget to mention the desired bootstrapping of approximately 5.7k OHM in exit liquidity for early Lobis holders in return for an undisclosed amount of Lobis governance in return.

Could you please clarify the target for final governance proposed to be moving into the OHM ecosystem when factoring in initial funding, bonding, and the airdrop? The "Top 20 holder" is near impossible to quantify.

Edit: Oh wow this proposal was extremely rushed and already went to snapshot. Echoing the many others here that a little more time should have been permitted this feels like this proposal was just strong-armed through in every single sense with the majority not even understanding the proposal yet.

      If this goes through, please do not exclude any ohm hodlers, even if they are deposited in rari etc. and cannot vote. That would be one way to sour support among ohmies for this… reference the recent PSP airdrop. Important to note that abra/fuse depositors and wsOHM holders are not able to vote

        It seems a good idea, but we need a kind of exit mechanism for OHM, once some "promising" projects turn into *** in the end.

        Having Lobis/OHM LP may become an issue

        in future if Lobis voted to have a Lobis/Dai or Lobis/ETH pool this would open up both OHM and Lobis to cyclical arbitrage trading. Which would mean that arbitrage traders would be able to drain liquidity from OHM & Lobis liquidity pools.

        I know this is an issue with making liquidity pairs on UniSwap. I'm not sure how SushiSwap figures out routing for trades.

          GrumpyFishingDad We will be publishing more details closer to the time, open channels with Olympus have let us know about all the different places OHM might be being used.

          As a lobby focussed dao we want to incentivise governance participation as much as possible and reward those that contribute to the community. We already have multiple OHMies contributing as Envoys in our discord starting language communities, posting content etc.

          Our manifesto encourages proactivity, actions speak louder than words. You can get involved here!

          https://discord.gg/KzXx2BYysm

            Chance Hey,

            The pairing of OHM with Lobis has an upper limit of $5m. This was actually a direction that came from discussion with Olympus as a way to make a favorable token swap with the DAO. Linking Tex's comments so you may see their point of view here.

            https://forum.olympusdao.finance/d/372-oip-44-implement-lobis-as-a-governance-arm-of-olympusdao/3

            Regarding the initial funding, there is no team allocation, no pToken mechanics for raising and distributing to investors.

            To clarify at launch, Olympus and the OHMies will have 100% of the available LOBI supply, to have some guidelines Olympus and Lobis agreed on an upper limit of $5m worth of liquidity on the pair, this doesn't have to be deployed all at once and will be determined by the two policy teams to ensure a correct outcome is reached.

            Lobis DAO will have an operational treasury which has to be approved by the community to be spent on agreed grants, bounties, expenses etc. As OlympusDAO is the largest lobbying power they will have a lot of say in how it is directed.

            We have had active discussions on the Olympus Discord as well as the Lobis Discord, you are more than welcome to join the conversation so we can explore this together further 🤝. Here is a link to our discord.

            Given that price will likely change after launch it's easier to use symbolic numbers in an example. Let's say LOBI is priced at $400. $5m worth or 12,500 LOBI will be sent to OlympusDAO. They will pair this with OHM and provide initial liquidity to help bootstrap our launch.

            This enables Lobis to focus more on accruing governance power for OlympusDAO rather than initial liquidity. From there on with every bond Olympus will get 1.1% as a fee. In order for anyone to compete with Olympus in terms of lobby power, they will have to buy the token in outsized amounts from a dex, this is likely to benefit Olympus through fees and an appreciation in asset value.

            Let's say the Lobi token has appreciated due to demand, Olympus can bond some portion of the 12,500 LOBI to Lobis bonds and benefit from direct treasury appreciation whilst growing their governance power in Lobis.

            **Lobis focuses on accruing governance for OlympusDAO & propagating OHM as a currency.

            We sit at the foothills of Mount Olympus. OlympusDAO accumulates LOBI without further emission of OHM, increasing its backing.

            Symbiotic.**

              el_dan0
              please do not exclude any ohm hodlers, even if they are deposited in rari etc.

              I hope this is not ignored - a lot of ohmies stick their sohm into other protocols and it'd be good to ensure we're not excluded 🙂

                LOBIS will tame the degens and will orient the OlympusDAO in the right direction (hopefully)

                I am voting against this proposal.

                Abstract: Lobis and REDACTED are both CRV/CVX focused DAO’s that are seeking approval as OHM forks. Although Olympus seeks to be a neutral player in the Curve Wars, I believe that approving two projects that are nearly identical detracts from the value proposition that Olympus DAO offers, for the following reasons:

                • There are many OHM forks across several chains that have not reached out for official approval. These forks lose out on the Olympus community’s support, resources, and overall benefit. Founders that do reach out for approval to be an official OHM fork, and give up a portion of their treasury, should be protected by Olympus DAO in any way possible. I believe that one way Olympus DAO can incentivize and protect projects that seek official approval is to offer them some runway to prove themselves, without offering the same support to a similar or derivative project.

                • REDACTED offers a far better incentive to the Olympus DAO with “20% of pBTRFLY supply (20 million) with a 10% supply share” and “5% fee on $BTRFLY and 5% fee on the revenue generated from external tokens bonded.” (Source: https://snapshot.org/#/olympusdao.eth/proposal/0x33538881cc32621825be22ebd21856951651cff12b9cd6d27379302183665605).  

                Conclusion: Approving Lobis detracts from the incentive to become an official Olympus DAO fork due to the fact that a similar project, REDACTED, has shown a greater willingness to contribute to Olympus DAO via token and revenue share. This proposal will affect future founders' decisions to become an official Olympus DAO fork and the legitimacy of the Olympus DAO brand.

                Disclaimer: I am a degen yield farmer. OHMie. I plan on aping into REDACTED due to the reasons I have outlined, as well as their ability to cultivate a greater community (imo). I get that Olympus wants to make money on both sides of the Curve War, and maybe there is room for collaboration in these projects, but the inherent conflict hasn’t been addressed publicly and should be before this proposal goes through.

                FarmerBrownDeFi He seems to be a bit controversial if I'm not mistaken, maybe not the best match for Ohm Protocol. I only found out he's involved through CT, so why didn't he put his name in the proposal? He's a prominent figure and he should know that people involved would want to know HE is involved with this proposal. Feels weird tbh, needs more time to be cleared up imo, however the voting window ends today…what to do?

                  LobisFinance is skem. You promised lobis airdrop with misleading and ambigous language. Need new OIP to dump Lobis

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