• Proposal

  • OIP-53: Execute DAO swap with Frax Finance

I think we should focus and spend the investments in decentralized stables like UST, LUSD (we did a tremendous job there), MIM, et al. As opposed to stables backed by centralized currencies like USDC in the case of FRAX and DAI…

These 3M would be much better spend in governance for real decentralized stables.

I voted in favor because I missclicked. Lol.

    3m small allocation, big benefit. You have my support

    Is this not what we want lobis to do? Why the double strategy?

      ElvisisKing good instinct to keep things decentralized but occurs to me that with greater degree of frax governance olympus could choose to try and influence frax to shift away from usdc over time.

        d_scissus this is swap, not via bonding.

        Reason being I assume is because Frax would rather swap for ohm instead of lobi at this point in time.

        at the end of the day ohm is the mothership and lobi the add-on.

        Ohm is accumulating Frax and Lobi is accumulating FXS via bonding

          it's about time we did this.

          I suggest we also directly lock it for 4 years and extend it periodically if needed

          I’ve just read through some of the comments on the Frax forum and there is massive love for our community. Ohmies, let’s do this!

          I'm still trying to understand the nuances of the relationship between Olympus and Lobis. If this proposal is driven by a perceived need to increase Olympus' governance influence within FRAX, and OIP-44 was approved to "Approve Lobis as OlympusDAO Governance Arm", then why is this initiative not being executed through Lobis, rather than directly through the Olympus treasury?

            FXS to lock as veFXS to participate more in Frax governance is great. Generally love veFXS and the more intertwined OHM can be with it the better!

            Love it, also will give us some FPI (pseudo stablecoin? tracking the Consumer Price Index) eventually! So many cool avenues to explore and use the FXS - veFXS strategically.

            I think we should first address what our involvement with Lobis, [REDACTED], and other future branches that are accumulating governance tokens should be.

            1. How do we decide how to vote our veFXS? I'm fine with the policy team deciding, but just curious as this is a constantly evolving decision.
            2. If OHM is going to own veFXS we might as well steer the frax gauge our way. e.g. instead of bonding FRAX and DAI why not bond FRAX DAI v3 LPs and then vote our veFXS for FXS rewards on those LPs? Would have the same impact on RFV, but would increase our return on protocol owned assets.

            plutus

            Personal take, I think Lobis doesn't quite have a big enough treasury yet to be able to comfortably do this, and since this is a time sensitive task, it's much better for Olympus to acquire FXS themselves as proposed.

            How I see the interaction between Olympus and Lobis is that while both still have the ultimate goal to help Olympus acquire governance power in the eco, Lobis is one of many strategies for Olympus to acquire power. But this doesn't/shouldn't inhibit Olympus at its core from executing on another strategy to gain gov tokens (in this case via a DAO swap with Frax). Being able to quickly deploy many different strategies to acquire gov tokens in parallel increases the team's velocity.

              I think this is inline with the notion or protocol owned liquidity and will help bridge Olympus cross chain longer term with a governance attribute through frax. I support. 3,3 Ohmies-

              plutus Lobis was approved as what is described as 'a governance arm' not 'the governance arm' - this is only to the extent that Lobis is endorsed by our community in their mission to democratize governance back to defi protocols for which it holds tokens