smartboy21

  • Jun 27, 2023
  • Joined Oct 20, 2021
  • When OHM starts trading at a premium over RFV, RBS system will sell reserve/LP bonds at discount and increase Ohm supply. Will it not dilute the existing Ohm holders in the absence of staking APY? Or are we planning to never use reserve/LP bonds to increase Ohm supply? In absence of staking rewards, only highly professional supporters of Ohm with huge capital can benefit from its echonomy. Retail investors will benefit only from its price stability, not from the growth of the protocol. Please comment

  • Bravo team. You are doing excellent job during this bear market.

  • Why are my comments are awaiting for approval for ever. ??

    • Instead of making a smartcontract to give incentives to voters who vote in favor of full reimbursement, we can just commit to incentives to Tribe holders who vote in the favor. And we can decide and allocate a grand amount of incentives. Once vote passes in favor and everybody gets their fair share from feirari, we can do analytics of-chain and distribute incentives. Just like retrospective airdrops are calculated and distributed

      • Folks.

        1. They are not asking any funding from OlympusDAO.

        2. As Ohm is trading below backing, issue of Reserve bonds does not make any sense. And they understand it. They will have to buy ohm in market(ohm is trading at a discount anyways on market).

        3. Fear of them controlling the ohm governance, that is unwarranted. Anyone can buy in open market and get governance power, we cant stop anyone.

          So lets give it a yes.

      • Shreddy

        Spartacus treasury should be minimum of $60mm.

        Same way, please also inform how much $gOhm are we paying out for it?

        This will make us everyday user understand “how much ee are paying and how much we are getting ”

        Intangible benefits of acquiring community, good faith gesture etc will be like a bonus for us!

      • From where will the gOhm come to pay to the xtoken holders? This transaction can be thought of as analogues to BONDING, ohm treasury acquires assets(the assets in the treasury of the distressed protocol) and pays out Ohm to the bonder(xtoken holders). Ohm is received by xtoken holders in form of gOhm. Every xtoken holders gets gOhm proportional to this %share of distressed treasury.

      • Now that ‘Inverse Bond’ is being proposed and likely goes through, the holy cow question of ‘ohm has RFV backed bt treasury, but treasury is not redeemable’ will be squashed to death. My question is , wont this publicly know floor price of Ohm encourage degens to take Leverage and do (9,9) with full confidence than ever before? What could be the consequences of this?

      • Jones Dao claim to generate return through safe option strategies. Can you share the maths/logic of the at least one of their sample strategies? Will other protocols will JonesDao use to run its strategy? Will it all be done on-chain or some centralised tradfi systems will be used to manage strategies? Their is no track record of JonesDao to approve their claim of safely generating returns, it means funds invested can go bust! Hope for a prompt response

      • Go ahead econOhmy! Green revolution backed by crypto!

      • json

        No single person or team should be given the right to spend the funds of treasury! Crypto space and DEFI is large. OlympusDAO centric world view is not good. If OlympusDAO decides to buy some asset, then the entire world will put their funds to front run the DAO is a skewed view. There are a ton of different things going on simultaneously at any given time in crypto and Defi. Bonding mechanism is great way to acquire assets gradually over time. And it is this bonding mechanism which is the usp of OlympusDAO. So we should not see open discussion, making decisions based on community voting to acquire strategic assets via process of bonding as inferior compared to opaque buying decision made by small group of people. Please everybody vote to preserve the transparency of the DAO decision making process and have faith in community vote and bonding. Thank you

        • There should be a trustless way of getting Bitcoin on ethereum network. WBTC is wrapped asset guaranteed to be 1:1 backed by Bitcoin by an opague centralized company. By the same logic as OlympusDAO has not chosen to mint OHM against USDT or USDC, it should also refute from filling the treasury will assets governed by centralised entities.