• General
  • Request for Comment: Stake 5% of Olympus DAO’s Eth reserves in Rocket Pool

IceKohl When you consider that some areas of the US respect daylight savings time and some don't, computers need some way to represent that. For example, some counties in Indiana in the US doesn't respect daylight savings time. So from a computer perspective, even though indiana is in the Eastern time zone, you'd want a different time zone than Eastern for those Indiana counties, so that computers know the correct way to keep time in those counties.

That's just one example out of countless examples. time zones are very, very, very complicated. If you're interested, check out https://www.zainrizvi.io/blog/falsehoods-programmers-believe-about-time-zones/

Voting in favour, rETH has been heavily audited and bears very low smart contract risk; a decentralized yield bearing derivative of native ETH.

I strongly support this. Laid out very well.

Thanks for writing this up. I strongly support rEth's integration

5 days later

This is a no brainer! About to spin up my own rocketpool node as well. Very exciting project, my favorite eth staking project by far.

100% great idea.

In addition to restricting it to 5% of the Olympus ETH reserves, should we also restrict it to a maximum percentage of the rETH supply? We've avoided, in other cases, owning too much of a token's supply.

    sirsean I don't think there is really a good reason to do this with rETH, it can be arbitraged through the contract and there's no governance power so I don't see any negative effects of holding a large % of supply

    letters This seems like a great idea to me. Relatively low percentage of Eth (could start lower if there are concerns). Unfortunately, I don’t know enough about what our eth reserves are currently doing and have no direct experience with rocket pool. Assuming our reserves can’t be put to better use (risk-adjusted), I think it is a great idea worthy or consideration. Thanks for proposing.

    Instead of paying node operators their 10% fee, why don't we collect that ourselves and run nodes. The barrier to entry seems to be 16 ETH & running the nodes. Perhaps it would be best to setup a team to be in charge of this?

    Pros:

    1. Additional ETH Yield
    2. RPL Rewards
    3. Olympus Actively contributes to further decentralizing ETH.

    Cons:

    1. We'd require physical infrastructure
    2. We'd require Manpower
    3. May be a major custody concern

      letters Love it. Very thorough and articulate proposal. I'm a big fan of Rocketpool. They have been designing and building this product for many years, with the highest standards of permissionlessness, decentralization, and security. It's my understanding that rETH is a very safe asset from a technical perspective. I have a ton of respect for the Rocketpool team and community. I'm 100% in support of this proposal.

      I support this as a long-term, low-risk investment for our ETH. Is anyone familiar with ways we could also invest the rETH?

      Write a Reply...