Voting in favour, rETH has been heavily audited and bears very low smart contract risk; a decentralized yield bearing derivative of native ETH.
Request for Comment: Stake 5% of Olympus DAO’s Eth reserves in Rocket Pool
I strongly support this. Laid out very well.
Thanks for writing this up. I strongly support rEth's integration
zhichi
100% for it, Rocket Pool is solid and useful.
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.
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:
- Additional ETH Yield
- RPL Rewards
- Olympus Actively contributes to further decentralizing ETH.
Cons:
- We'd require physical infrastructure
- We'd require Manpower
- May be a major custody concern
Undersc_reJP Tetranode has a good answer for you on this: https://twitter.com/Tetranode/status/1455645475193831427
You're right that it would have the potential to earn better yield, but it would mean the community has to trust a single person with millions of dollars of funds. It would be a tough pill to swallow.
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.
Sidenote: Tetranode makes a very strong bull case for not only rETH, but also RPL (the token required as collateral by Rocketpool node operators).
https://twitter.com/Tetranode/status/1455637918890938369?t=DZXC1jwPOvYZhAJzn7uPRQ&s=19
I hope we consider RPL bonds soon too.
I support this as a long-term, low-risk investment for our ETH. Is anyone familiar with ways we could also invest the rETH?