Wallace900402 That would dilute ohmies, we wouldn't want that
Market Making Proposal from GSR
is there any form of insurance if the OHM is lost through a hack etc?
Yesssss!
would gOHM be better? It lacks market depth and liquidity?
Definitely think there needs to be clarification on the loaning of OHM and the status of staking and rewards on those OHM over the contract period with details in respect to gOHM transition.
Jawesome Ser, you must realise that agreement begins and ends with the supply of OHM the market maker has on its balance sheet. How are we going to ensure the supply on the exchange balance sheet stays unstaked?
I dont like the idea of loaning out OHM. Dilution will make repaying the loan much easier. Why isnt GSR buying OHM at market value?
Also, whats stopping this group from "buying" the OHM from themselves, staking, and repaying themselves?
EconomistBeard Could be made as part of the agreement that if they do stake it a fee or part of the yield would be captured by the OHM treasury.
EconomistBeard ser, it's called contract obligations for them to keep their end of the deal. Plus, they are the ones that actually suggested not the stake the OHM themselves, so we believe they have good faith
- Edited
Coud yes that is the idea, a centralized listing should net increase volume and hopefully yield more rewards
halyax GSR was formed in 2013, before ethereum or tether, we like to think we’re pretty much crypto OG at this point
Wartull yes exactly, the idea is that the loan would not be staked and dilute rewards for current Ohmies
Projected via: https://dune.xyz/pottedmeat/Emissions-Predictions
For reference, these are the options posited by GSR. They would be able to provide the $15.625 or 18.75M directly to the treasury at a total mcap of 31B+ or 115B+.
It is still worth noting that the cost to Olympus for each OHM is the RFV of 1 DAI (e.g. 25k OHM is $25k USD).
I am for this proposal given the above numbers.
Jawesome I know GSR have with us, I'm talking about the CEXs they intend to make a market on. To what extent does our agreement cover their activities? What enforcement action are we in a position to take in the event of a breach?
Im confused as to why we would want to onboard people into unstaked ohm? We dont want to burn anyone and by having people buying unstaked ohm isnt that what we'd be doing?
I guess thats for MM to figure out but feels like its something we should talk about
Diluting normies is a bad look so would want to avoid that at all costs