Olyḿpus DAO - The Future Decentràlized.
Olympus Dao is a service for protocols looking to supplement liquidity mining in their emissions programs with low overhead and maximum impact. Through the bonding service, these protocols accumulate the crucial infrastructural liquidity that they generally service via liquidity mining. Instead of renting that liquidity (often at astronomical interest rates), they simply purchase it, turning a value-draining perpetual expense into revenue-producing assets that facilitate the functionality of the rest of the platform.
Our team provides infrastructure, expertise, and exposure to a vibrant marketplace. Projects only need to bring their token and an objective. Since the launch of Olympus Pro, OP bonds have captured >$17m in liquidity for our partners.
Olympus has been live for almost seven months. We have demonstrated in that time that the model works, and that it works well. However, that does not mean there is not still room for improvement.
On-chain governance will occur through the gOHM token (previously called wsOHM). Users can now stake directly into/out of gOHM, saving precious time and gas.
Bonds have received a significant overhaul. The upgrades are as follows:
- Bond payouts are staked at the time of purchase. Rather than requiring bonders to factor in missed rewards when considering a discount, they are now earned by default. This means that any >0% discount will outperform staking, and as a result discounts should not deviate far above 0%. This is good for minimizing market pressure and maximizing protocol efficiency.
- Bonds no longer vest linearly. Instead, bonders must wait until the end of their term to redeem. This illiquidity is enabled by staking bond payouts, and creates a form of locked staking that will save ohmies money by removing the incentive to incur wasteful gas transactions through frequent redemption.
- New bond types are created as isolated offerings. Each bond has a maximum amount of OHM that can be paid or a maximum amount of principal that can be purchased and, once exceeded, the bond is retired. All parameters of the bond are set in stone after initialization. This improves both budgeting and immutability.
- Bonds can be held as NFTs. This enables liquid secondary bond markets.
- Bonds can be fixed-term or fixed-expiration. What we have now is fixed-term; if the term for a bond is 1 week, your maturation date will be in 1 week. Fixed-expiration means the maturation date is the same for all who buy that bond. If a bond has fixed-expiration on day 8 and you buy one on day 1, your term is 7 days; if you buy the same bond on day 2, your term is 6 days. This lends itself to composability; fixed-expiration bonds can be wrapped into a fungible token and traded like any ERC20.
- Bonds offer a front-end reward. This will incentivize third-parties to run front-ends for Olympus, reducing single-point-of-failure risk.