Market Making Proposal from GSR

neldog

the GSR proposal greatly angers me

that's allowing them to borrow naked OHM and a free short

these market maker guys have so many words, but they are ultimately snakes in the grass that needs to be captured and extinguished

they will borrow OHM at market price, then buy back ohm after like 100 rebases for $2

if the market maker wants to list ohm, they have to buy it from the market like the rest of us

these guys are wanting $20M of free money for WHAT

IDKFAIRL

If market makers wants OHM for their CEX

They can buy it off the market like everyone else

Who gives $20M of their DAO to freely short the market?

forgottenname

Hmmmm, it needs to be further discussed as there are many cons to that

purefissure

Will be voting against this, want OHM to short? Buy it from the market like the rest of us.

cambyses21

purefissure will it make a difference relative to today? our current community was composed of early bag-fillers like Mark Cuban who have long exited and over-leveraged degens who are helping tank the price today. I will be voting for this proposal.

IDKFAIRL

More questions for OHMies to think about:

1. Why do we need to hire a market maker when we have 300M of protocol owned liquidity?

2. Why do we need retail adoption that would paperhand our OHM?

beerus

If you cannot see that they will use free ohm to short it, then I do not know what to tell you

miyamasa11

Self-reported circulating supply

1,663,068.00 ohm

Market making proposal from Wintermute

750gOHM

(750/1,663,068)X100≈0.045%.

Market making proposal from GSR

25,000OHM

(25,000/1,663,068)X100≒1.5%

And the current OHM Staked is 90.79%.

If we consider only Market Making, GSR's plan which is 1.5% of total supply and 16.28% of non-OHM Staked would be more effective.

contrarygiraffe

IDKFAIRL dopex is on L2? Also, the availability of options only gives these market makers even more hijinks they can pull using this uncollateralized interest-free loan on a hyper-inflationary asset…..

contrarygiraffe

muh9s someone gets it

contrarygiraffe

jft it is pretty damn easy to short when someone hands you an interest free loan of the asset in question. Knowing that you are getting your hands on $20m in liquidity in said asset, you could also lever yourself to the hilt using options because you have a very good idea of where the price is gonna go.

Sorry for the string of comments but I am just now reading this thread.

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