qwercus

  • Aug 28, 2023
  • Joined Aug 4, 2021
  • In RFC - Artemis Academy Grant Proposal

    an ohm-centric economy wont be built by waiting on the free market. if you want the market to denominate in, trade with, and build around ohm, you need the infrastructure and systems built around it. you need builders that are familiar with it. you need to connect the dots for the market to understand ohm, habituate using ohm, and see ohm as a path of least resistance (no pun intended).

    we can decide that artemis is too tangential to olympus and wait for better grant proposals to come along to direct this funding. or we can risk this funding on some of the minds that are already contributing to the economy we envision, already have alignment with olympus, and will probably continue building this out at a slower rate even if we decide not to pass the grant.

    the education each of us received in the past has shaped how we see the world and the opportunities we apply ourselves to. remember fork season? olympus (and arguably most of web3) suffers from poor education and ethics. projects that address these problems with responsible budgeting should absolutely be funded.

  • In OIP-60: Hire a market maker

    MrMochi looks like this post in the wintermute proposal outlines reasons for both, although the poster originally posted to propose we slow down to formalize a competitive selection process between any MMs that want to work with Olympus.

      • In Market Making Proposal from GSR
      • In OIP46 - Implement [REDACTED] as an Olympus Branch
      • In Temperature Check : Front Line Sherpa Compensation

        sherpas have by far the most underrated and undercompensated role within the community. the olympus community has grown explosively and relies on knowledgeable and available sherpas to keep ohmies educated and help them feel like a part of the community.

        i think there was hesitation to pay sherpas out of fear that their virtuous ideals might be stained, but we have consistently seen sherpas that are in the trenches every single day banning hundreds of bots, patiently answering the same questions, and directing new ohmies to the resources they need. Without intelligent and compassionate sherpas on the frontlines, the DAO would not be able to focus on building because the community would burn to the ground.

        i think the more contentious issue is how great sherpas are fairly compensated. community vote? equal distribution with opt-out? coordinape style? tangible discord activity statistics?

        Brian33 As the server increases in size, I also propose a general guideline in onboarding Sherpas. For every 2000 members, we should onboard a new Sherpa. This is not a maximum, but rather the minimum in order to ensure that we have a good Ohmie: Sherpa ratio. To onboard a new Sherpa, they would need to be nominated from another Sherpa, and pass a quiz with common questions a Sherpa gets on the daily.

        we do need a framework that suggests a minimum sherpa ratio, and the sherpas themselves should allow for inactive sherpas to shift out while we make room for more active sherpas to take the mantle. we should keep in mind that to new community members, the sherpas look like a position of authority- by incentivizing this position, we heighten odds of bad actors abusing sherpa status for personal gain.

        perhaps we could initiate a level system for sherpas using sherpa age/duration as an indicator for trust and compensation?

        • In OIP-35: Add WBTC to the Treasury 

          Baitfish It feels we could achieve the same benefits with none of the downside by just increasing wETH holding target, since it has been historically correlated with BTC.

          This. If we want our decentralized reserve to take on 3.3% custodial risk immediately, then we should just take in 3.3% more ETH. I understand that policy is probably looking towards partnerships and integrations with wBTC, but the price exposure aspect is solved with less risk holding ether.

          • In OIP-35: Add WBTC to the Treasury 

            abipup We must keep in mind that Olympus is a reserve bank, not an investment fund.

            If we aim to be a decentralized reserve bank, custodial orange coin is not the path we want to walk. I understand that it is the market leader. But Maker with 3.3% USDC is to Olympus with 3.3% wBTC. (Ik, ik, they have like 49%)

            Our biggest concern with more desirable forms of BTC appears to be that they have less liquidity and market share. Haven't we witnessed the ability for Olympus to drive demand and suck up tokens? Haven't we described a narrative that Olympus is leading the way with innovation?

            Left curves: Let's not be the people buying a 99cent 2L of soda just because the bottle of water right next to it has less liquidity.

            I'm sure policy has had this debate 10x already internally, and I don't claim to understand the nuances as well, but perhaps we can leverage our massively growing market cap and community to walk the path less traveled and be the tipping point for…"DeFi 2.0" to follow.

            • In OIP 25: Deploy Olympus to Arbitrum

              are mainnet contracts able to be deployed to arbitrum with no/minimal extra auditing or code changes?

              • Zeus replied to this.
              • In OIP-18: Reward rate framework and reduction

                Yannis One of the main issues when buying and staking OHM is that I cannot use those funds for other projects I love.

                fuse pool on rari. also, by having a framework for apy, our protocol is more approachable for the exact partnerships that would allow you to use those sohm funds elsewhere.

                OM0811 for the many new Ohmies this must be repelling. even if this a good proposal for the future, it should be set out to take effect only in about 3,3 months.

                it's day 16 for me with olympus, fren. i can see why newer people might feel like they were misled by numbers, but when you dig into the numbers and look at the effect this will have (and did have) when implemented it really is a boon to all. our user growth has been exponential and our revenue growth has been linear. I totally agree on your point about the psychology- it's critical we educate and reach the same page if we want to see this grow to the size we aspire for.