Use Wormhole as Cross-Chain Messaging Layer

Zeus

Summary: Replace LayerZero OFT with Wormhole NTT for cross-chain OHM moving forward.

Background: Olympus currently uses the LayerZero OFT bridge for OHM on other chains. _19k user-owned OHM are bridged at the time of writing, with 91% of those tokens on Arbitrum and 9% on Base.

Proposal: Use Wormhole NTT bridge going forward. To start, this would apply to only to Solana with passage of the POL reorganization proposal here. Since Arbitrum and Base OHM are upgradeable by the DAO, the bridge for those tokens should be shifted to use NTT following a comprehensive audit (though changes required to execute on this are minimal).

Prior to migrating existing Arbitrum/Base tokens, user experience impact of dual solution will be that the Solana bridge only functions between mainnet and solana. Following the migration, tokens can move seamlessly between all enabled changes.

Motivation: Capitalize on flexibility prior to expanding cross-chain liquidity by aligning socially and technically with Wormhole. This solution makes the most sense given it is the native bridge of USDS (our base reserve) and their development org has shown an eagerness to build with us to expand Olympus liquidity and credit markets across chains.

Poll:

Proceed
Not proceed.

z_33

Not entirely convinced that this is needed. Would love to understand the motivation better. I'm assuming both bridge techs have similar risk profiles. I don't know if native bridge for USDS being wormhole matters... Not sure what "their development org has shown an eagerness to build with us to expand Olympus liquidity and credit markets across chains" entails, if there are more details on this that could be great!

Relwyn

z_33

Just to offer some perspective / opinions:

As you mention, the technology is not more or less risky so there isn't really a trade off here. NTT does support the cross chain messaging we're gonna need when we start putting Coolers in various places since this will need to communicate back to mainnet.

On the social side, there is value (Both tangible / intangible) to the NTT solution. They have been eager, enthusiastic and engaged to build / develop with us where as with L0, we're basically just using the stack. To get a finer point on those tangibles we need to demonstrate that theirs supportive sentiment that this will pass and then those things can firm up.

Ultimately, having a partner in the bridge space who is eager to engage, understands the roadmap we're moving towards and can hep see it realized is high value. It's dev's, tools, attention (Outside of our internal team) as we build out the interchain piece to this new value layer. Our dev's have already looked at the integration path and it looks pretty low friction.

Either way, in support from my side.