• General

  • decentralized ohmie-signaled erc20 buys

Give decentralized power to OHMIES to:

  • Signal the treasury (or another part of the protocol) to buy their favorite erc20 projects.
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  • - Creates a decentralized OHM buying-power-market
  • - Gets other erc20 token communities involved
  • - Takes pressure off from an "unitary-consensus"
  • - Fulfills more various interests among OHMIES
  • - Keeping everyone 3,3.

I imagine the signal mechanism to be based on a BIG curated list of semi/legit projects.

There is a live-ranking of signaled tokens.

Every 3 days the top 3 coins get bought.

Every token can be only bought once every 9 days

erc20 tokens climb the ranks of that live list by OHMIES signaling to them when staking.

Buys are done after 12 days at a random time between day 12 and day 15 to get a normal market price.

That period also serves for the DAO to have VETO on specific tokens.

It would be automated. At staking one has the option to input an ERC20 contract as part of the (re-)staking.

The ERC20 tokens can be bought back my OHMIES in an OHMIEconomy where longterm staking can be incentivized linearly by certain % e.g.

This is a really cool idea, especially insofar as it would open up possibilities for Olympus to function as a majority investing dao, or a holding company dao; a sort of decentralized version of Birkshire Hathaway.

However, the problem is that much of BRK-A's generational wealth accumulation involved being a buyer of last resort, when the markets were tanking. For example they we're able to negotiate the purchase of an incredible amount of Bank of America at prices lower than was available on the market, not to mention preferential shares and all sorts of advantages.

To do that, one needs to buy at moments of peak capitulation.

If you remember a few weeks ago Thorchain was hacked several times. Between the second and third hacks, its price dropped all theway down to 3 dollars. At that very moment, @TheThorLady had been perfecting a proposal to initiate a partnership with Nine Realms, fund a Ohm-Rune liquidity pool, and offer access to Ohm for the btc, xmr, atom, sol blockchains.

However, fears over the dangers of bridge hacks brought the proposal to a halt. It was considered to be too dangerous.

In order to maximally benefit from investing in tokens when they are behaving as distressed assets, timing is everything. I'm not sure the current governance strategy would be sufficiently agile for that. And the overall culture of Olympus dao might not be aligned with buying dips.

Soros said something like "pay close attention when an asset looks like it should go to zero and it doesn't". This worked for Reml in March 2020 and for Ada early 2019.

But how will we correctly time entry points if there is a group consensus vote, and some people are contratians and others are momentum traders?

Another possibility would be to vote continuously on what tokens have the best developer teams, the best project potential, and only pull the trigger when they are down 70-95% from previous ATH.
But that's a VC game, and here I think @Fiskantes would know better than most of us.

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