Request for Comments - CEX Listing

LightColors

no go for CEX lisitng, we need to play it safe and 3,3.

CryptoChad

For now, no. In the future maybe +- 1-2 years.

CMill

I don't see a benefit to pursuing any CEX at this time.

CrypThor

I will say no, too soon. I feel like 3,3 will be not favourable if people buy on cex

dario1209

I agree, it’s too soon guys. I’d say yes for most of the defi projects out there but Olympus is not like most of the DeFi projects out there! So I’d vote no.

Nikita

As others pointed out more eloquently:
-Olympus controls the majority of its liquidity. We will lose that if we list on a CEX.
-CEX traders in large may not care about bonding despite educational sessions/material.

We would open ourselves up to more volatility in the current not up-only market—volatility which we may not be able to translate into revenue or a sum positive to the dedicated bonders, stakers, and the protocol.

If the objective is to bring in larger institutional OHMies then perhaps it could be done another way instead of the brute force list on a CEX that's imploring to bring OHM onboard.

Adamtkarren

Don_G_Lover focus on steady growth with a committed community. Too early for a CEX

Skinned33

Hard pass - no from here!

versionsoftokyo

CEX listing would probably just lead to increased and unwanted volatility, inviting bullshit speculators to dick around with our precious/sacred Ohm; voted no

EMM

Nope. Giphy - No Way Smh GIF by Amazon Prime Video

Astronode33

As others have pointed before me, the cons far outweigh the pros in our current state

Don't miss the forest for the trees

Digitaltrader4427

I think it is a great idea to partnership with at least 1 CEX at this stage of growth with specified terms and conditions set by Olympusdao.
The (3,3) aspect of the game theory is essential to our success, however; many of us fail to realize that exercising both (3,3) and (3,1) brings stability/balance to the protocol. Remember, recently we had to reduce the reward rate to .35% (OP-???) for 3 weeks due to lack of bonds being issued to the protocol. As we continue to grow in Ohms holders more people are (3,3ing) and I can see the same circumstance reoccurring. But, if we allow a CEX to list Ohms that will lead to more traders requesting for bonds (discounted Ohms) so they can arbitrage on the CEX which leads to profits, moreover; a savvy trader will stake some of his newly gained OHMs to hedge against possible losses. Consequently, this mechanism can help bring another layer of sustainability to the protocol. I must also mention that 1 CEX at a time is ideal at this stage of expansion, and as we continue to add new stakers we can proportionally add more CEXs.

Don_G_Lover

Great feedback so far, thanks all!

There are intentionally no further details as we'd like to gather opinions from you all before proceeding too far down the road.

I am curious - a lot of the feedback is timing-based, when is the right time? Is it a market cap (i.e. $1B, $10B, $100B?) or risk free value ($1, $20, $100, $500?)?

Curious to drive the conversation down that road given the mostly negative sentiments. Also, would be excited to hear the positive folks thoughts on why it would be nice to list.

Mongo

While I think we are waaay too early for any CEX listing for all the reasons everyone else has listed, shouldn't the conversation be about listing sOHM and not OHM?

waxincrediteth

If they want in, they need to do like everyone else…buy on Sushi and 3,3. Ain’t nobody got time for CEX shenanigans. They better get on the BACK of the bus. They ain’t Rosa Parks.

Uindicator

Nope, goes against the whole ethos of DeFi and Olympus imo. Why would we want stranded Ohms in exchanges not staking and being bought and sold like meme coins and especially right now in this part of the growth phase . 3,3 is the name of the game , if you want to be a part of Olympus it really isn’t that hard to figure out. Olympus will grow along with the adoption rate of the DeFi ecosystem , slow and steady 👌

Levis501s

Seems an unnecessary risk when all metrics moving in the right direction presently. In terms of what metrics would we look at to consider initiating a desire to list on an exchange tho?

Number of OHMies, treasury asets and RFV are growing exponentially. If any of these slowed down to the point of stagnatation or reversal threatening protocol it may be worth the risks of what a CEX would bring? APY & Runway, Price Volatility, Increased Centralisation, and % Protocol owned liquidity (+Fees) the risks at a guess? I would also imagine % OHM stacked vs unstacked would swing; all of which likely effects the overall value proposition of the project itself.

Bento

I voted yes because I think a more measured approach would be more appropriate with the goal to first be to understand what a CEX listing would entail and how it would impact the protocol and the underlying game theory.

Some questions that first come to mind:

Would we list OHM, sOHM, or both?
Some exchanges (FTX, Coinbase, etc.) allow staking for some coins that they list. Is this a possibility for OHM?
If the exchange does offer staking are we comfortable giving voting power in the form of sOHM to centralized entities like exchanges?
What is the time frame for a listing and are there any requirements that a protocol must meet in order to be listed?
What kind of marketing or other services would the exchange provide (if any)?
How is the game theory affected if staking is not provided by the CEX and a significant percentage of OHM remains unstaked?

Overall, I tend to agree that it is too early for a direct CEX listing, but instead I propose allocating DAO resources to answering these types of questions so when the time is right we have a clear understanding of what it will mean to list OHM (or sOHM!) on a CEX.

Don_G_Lover

Bento thanks for this! Great list of questions to approach possible exchanges with.

Appreciate the thoughtfulness to this response!

triton2030

I was STRONGLY pro CEX guy. Arbitrage is huge fees on swaps and also our charts looks insanely bullish on bear market which will attract money, attention and adoption.
Yes! That's all super great.
BUT
What we have now is so much better. All that paper hands and pro traders have to swing trade with dai-ohm LP.

They have to buy and dump OHM tokens using OUR liquidity and all that fees goes to stakers. So if there is no CEX they have to use OUR LPs which is great. If there will be cheaper way to speculate on OHM price, then we will lose a lot of trading volume.

Strongly NO NO NO to CEX!!!

streetjesus

Personally feel the only time a CEX listing would make sense is when the pros out weight the cost and clearly that isn't the case. When that day does come, I will be all for a CEX listing if it ever comes.

« Previous Page Next Page »