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?

    Wartull I think this is super important, could be considered as a fee or interest on the loan in as far as the unstaked balance will increase the APY for the rest of us staking, so taking out a chunk of staked supply for market making makes sense.

    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.

      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.

      muh9s The proposal clearly states they won't stake the OHM.

        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

          Wartull I second this. Having worked with the GSR team for many years, they are definitely the right partner for this proposal & would be in the best interest of the DAO's current and future initiatives.

          muh9s I think that is exactly what crypto is about actually, I understand the negative view in regards to MMs based on other protocols experiences but we believe that GSR has our best interest in mind. Again, they are the ones that even proposed not staking the OHM and farm it

            Jawesome So how does a Coinbase grandmother who buys $150 worth stake? I'm sure the DAO has worked all this out but it doesn't make sense based just on the proposal. How do you market make naked OHM if the CEX sells it as wrapped or gOHM? Trust the DAO but a little more background would be nice. thx

              Because it's a contract and they are a legal entity. If that's not enough, they also have a name and reputation to protect.

                Mongo Goal is to make OHM accessible to purchase, if users want to stake they would still have to use our native app