Hey Ohmies,
We are Debt DAO - we're providing debt to DAOs.
DAO debt is an extremely underutilized primitive for financing within the DAO ecosystem that is highly underutilized.
We're looking toward providing revenue based financing solutions for DAOs looking to keep tokens, with a vision towards creating a marketplace that becomes the ultimate coordination layer for how DAO seek debt. To this end, we've begun partnership discussions with Fei, Frax, Inverse, and a few other DAOs on sourcing capital into our pools.
We have an experienced core team:
William X Gitcoin Steward Former: Commonwealth, Index Coop, Llama Community, Nethermind
Kiba Gateaux - Index Coop/Titans of Data, Formerly: Metafactory, Full Stack Dev @ Consensys, Cream Listing Committee
saganaki11 - Tradfi Debt Structuring former PieDAO
We have some of great angel investors who have committed to take part in our raise:
Anton Bukov, Cofounder of 1inch
Joey Santoro, Founder of Fei
Jai Bhavani, Cofounder of Rari Capital (verified by dm)
DCF God, God at DCF
Francisco Renzi, Founder of Superfluid
Onetruekirk, Founder of Volt
Dillon Chen, Founder of Commonwealth
(More, but you can check out here for these details)
Our current proposed token distribution is as follows:
20% for team and early contributors (with vesting linearly over 4 years)
5% for LBP
10% for Olympus Pro
3.3% for Olympus (vested linearly over 18 months)
15% for further fundraising
36.7% Community treasury
10% for token swaps with other DAOs
Our roadmap is to:
Q1 2022
- Start scaling DAO lines of credit
- Execute strategic raise
- Further developing partnerships
- LBP + OP
Q2 2022
Q3 2022
We have already secured 10 million+ in deal-flow pipeline with multiple well known DAOs.
You can read more about us in our docs here:https://www.notion.so/williamx/debt-DAO-docs-92bca987c1d341cfb443cb415c86ae70
We are big fans of Olympus and share the values of the Ohmies. Following discussions with the Olympus DAO partnerships contributors - we propose the following partnership with Olympus to align our communities from launch and into the longer term:
Debt DAO provides:
3.3% of governance token to Olympus - vested linearly over 18 months - so Olympus can take part in our governance - on the condition that Olympus retains and does not dispose of these tokens
We propose to conduct our launch LBP in OHM using Olympus LBP funding - with intention to hold a portion of treasury and liquidity in gOHM
Priority for Debt DAO to integrate OHM as a lending option into its products, following OHM’s current early growth phase
Priority access for Olympus to use our products to generate income for its stablecoin treasury from our borrowing system
Olympus Provides:
Recognition of Debt DAO as an aligned partner
Priority access to Olympus’ launch and liquidity products
Advice and assistance with our launch from Olympus DAO contributors and consultation on our roadmap and strategy into the future
Participation in our governance likely through a delegate
Co-marketing for our upcoming LBP in OHM
Feeless use of Olympus LBP funding
Recommendation of Debt DAO’s products to appropriate partners and users accessing Olympus products
Consideration of integrating of Debt DAO products to Olympus Pro front-end - provided they are suitably brand appropriate and mature
We will be joining the partnerships contributors in an AMA in the Olympus discord on 10 pm UTC (2 pm PST) on Dec. 20th to introduce ourselves and our project to the community.
Join our discord! There'll be a POAP for the first 500 joiners 👀 https://discord.gg/AxgArdVCFk
