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Looks good. This is going to be a great thing for our future.

I assume at the start of buybacks we would use a little bit of DAI (maybe $10k or so) we already have from previous DSR earnings to get things started (since we have some extra available after subtracting cooler and team costs and POL) and then use only new earnings from then forward.

Here is what I think the next steps should be after this forum vote.

We do the snapshot vote.
We then use LayerZero's snapshot date to determine the addresses that are eligible for our portion of the airdrop.
Then submit the RFP to LayerZero using their format they told us to use. Should be submitted before may 31st in order to allow more time to get feedback.
Then respond to any feedback they give us.
Then hopefully receive the airdrop.

Maybe choose the top 2 options for snapshot. I would normally want more than 2 options for some proposals but in this case I think having only 2 makes sense because it is basically the bridgers vs everyone else when it comes to voting so having only 2 options helps the bridgers have a more fair fight and not lose because of having their votes spread out on 3 options when they could have been on one.

I really hope people vote for one of the first 3 options because the spirit and intent of LayerZero for this airdrop is to reward users of their technology so I think bridgers should get some allocation to just them. Holders are important as well and should get a share since we would not be where we are without them but please honor the intent behind this airdrop by letting bridgers have a little extra. Also if LayerZero wants they could reject our RFP for any reason and if we don't reward bridgers any they may not like that.

I also kind of wish there was an option for:
10% devs/treasury
10% weighted distribution to those that bridged 10 ohm or more before snapshot.
80% to coolered loans ohm.

By making the amount given to bridgers lower some of the ones voting for max to cooler users might vote for it since they may want bridgers to have something but not as much as the other options.

I am for it, but because of cooler loans requirements and so we have some left over for other stuff I would limit it to 4 million exposure for now. And for safety I would put 2 million in to start and then add another 2 million later and only add more if Olympus ends up with a big surplus of funds in the future.

I am for it but I would increase:

the voting delay to 2 days

the voting period to 10 days

the timelock to 2 days

Any proposal that happens will likely be significant and I think we should have more time for the community to learn about it and react to it.

Also I think for a proposal to pass it should need maybe 60% of those voting to vote for it instead of just over 50% like what it seems like in the compound docs.

So I think this solves a good bit of problems and am mostly for it. I do wonder how loan facility things will work. I guess they would have be lent out in Eth instead of stables. I think most would prefer to receive stables when they borrow. If a stablecoin called ohmUSD was made and backed by like 10x value in Eth then we could have some stables available but there could potentially be not enough available to fill the demand and people will be forced to borrow Eth instead.

1. I am for 2850 loan value. More reasonable with the fluctuations of the backing as long as we have volatiles.

2. I am for 0.5% interest rate. I was for 3.3% but changed my mind since we can get a percentage of the money from the top cushion and wall to fund the treasury instead of through interest and it's a more attractive loan product as well so will get more demand. If there is lack of demand to reach top wall for 3+ months then I would be for changing it to 3.3% so the treasury has more income and also lower the capacity.

3. I am for 3 months tenor since that way we can react faster to change terms if needed or if something happened to Dai.

4. I am for 69m capacity since I feel it leaves enough money in the treasury for people to speculate on and therefore reason to buy above backing. I was for 33m but decided that if this does well might as well have more available.

So my preferred combo is 2850, 0.5%, 3 months, 69m. I voted do not approve since 3.3% is a little high to guarantee we have the best loan product in DeFi.

I do wish there was maybe a 50m option so that we could have more left in the treasury to play with for future loan capacity on Layer 2s since I think L2s are the future. I did read that these terms might apply to all clearinghouses if voted on so maybe all of this capacity won't be used only in cooler. So hopefully that is the case.