hobbitsforcrypto

  • Jul 4, 2022
  • Joined Jan 2, 2022
  • Can we amend OIP-82 to clarify what happens to SPA tokenholders if OIP-82 succeeds?

    The current wording does not define a minimum amount of required SPA deposits into the TO contract. Hypothetically, OlympusDAO and SpartacusDAO may meet OIP-82's conditions and grant OlympusDAO treasury control with near-zero SPA deposits into the TO contract. In other words, all OlympusDAO really requires to gain control of SpartacusDAO's treasury is buy-in from the devs, not from their community.

    In a way I believe this is advantageous to OlympusDAO:

    • The less SPA deposited into the TO account, the less gOhm minted to satisfy the Tender Offer
    • The less gOhm minted, the less OlympusDAO "pays" to gain treasury control
    • The less OlympusDAO pays, the more USD backing per Ohm is added after the Spartacus treasury is absorbed

    However, I get the impression from OIP-82's wording and the discussions here and on the OlympusDAO discord that OlympusDAO extends this offer in good faith to both increase our treasury and build our community.

    If OlympusDAO wants to encourage SPA token holders to deposit funds into the Tender Offer contract, I suggest we consider committing a certain value or percentage of assets to be distributed equally among those who deposit their SPA into the Tender Offer contract. We can also define some minimum threshhold of SPA token deposits.