• Proposal

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

tex

Has Olympus also considered doing a DAO-to-DAO swap with Lobis? Bootstrapping the liquidity is one element of the equation and very much a positive for Lobis but, presumably, if Lobis is going to be backed by OHM (or gOHM), it will need OHM in its treasury to have any sort of runway at launch. Without significant runway at launch, I would assume Lobis will need to be conservative on how it bonds CRV, FXS or any other governance token because these bonds will not contribute to runway for the project.

By doing a DAO-to-DAO swap at the outset at whatever Lobis's internal backing rate is (1 LOBI per OHM, 100 LOBI per OHM, etc.), Olympus can take an immediate stake in Lobis. Assuming Lobis can defend the backing because it will have enough OHM in its treasury for all circulating LOBI, then this is a (mostly) risk-free +EV investment for Olympus since its OHM will stay locked in the Lobis treasury and LOBI will be trading at a multiple of its backing anyway (assuming successful launch).

Without the DAO-to-DAO swap, I would imagine the process of actually accumulating non-OHM governance tokens will be slow and deliberate--the same way OHM had to be slow and deliberate about accumulating non-stablecoin assets.

EDIT: By the way, this is the same issue for [Redacted].

      We just had a good discussion in the Olympus Discord/policy channel regarding this proposal. Let me just reiterate what I mentioned there…

      This vote could end up being a vote for war…or could be a vote for a common ground and understanding between the existing powers on how to regulate ourselves in a fair manner…

      The approach of LOBIS and other Governance DAOs will dictate this outcome… and I believe before asking for a vote from many of us who are not privy to all the power struggles that take place and the discussions behind the scenes, you all need to align and agree… last thing we need is for Ohmies to vote in a certain way that would pit us against each other and divide this space…

      A governance protocol to govern Defi utilizing the OHM reserve currency. Awesome!

      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)