The Agora Dispatch — Olympus Community Weekly Newsletter — Wednesday 27 April 2022
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Welcome to the Agora Dispatch — an Olympus community-run newsletter — made by Ohmies, for Ohmies!
Summary
- Editorial — Prepare to man the walls
- On the Grapevine — Around the Ohmieverse
- OIP-93: Mint and Sync passed
- OIP-94: Inverse Bonds are live!
- OIP-95: Open Fraxswap pool
- Odyssey Genesis Mint this Friday (29 April)
- Twitter Thread — Thoughts on OIP-94
- Ohmie of the Week — Cmill(is,dumb)
- Meme of the Week — Grey coin gud
- Opportunities to Contribute — Join us
Editorial — Prepare to man the walls
The first step to manning the walls was taken today with the launch of the generalized inverse bonds (or Interim Ranged Stability Policy) set at a rate to buy $200K per day. This now places positive price pressure on OHM in preparation for the deployment of wall,wall at a particular moving average price (hopefully sometime in Q2).
Deliberate and precise market interventions, with particular outcomes in mind, are the calling card of the Olympus policy team. Expect to see them continue to deliver outsized value as volatility in the general markets continues.
As Nach211 sagely noted when we had him on the Macro episode of Interview of the Week — OHM is a unique product and it always was.
On the Grapevine — Around the Ohmieverse
- First up, we are going through a little revamp expect to see our new branding and a couple of changes to the Dispatch soon.
- Zeus dropped a little hint in his proposal for OIP-95: Open Fraxswap Pool that Atlantis is still alive and is building on top of Fraxswap — watch for more news on this soon!
- Welcome back! We saw the crew from Redacted Radio make their long-awaited return — with an episode on Redacted v2 discussing Hidden Hand and Pirex with the Redacted team — listen here.
- Berachain had a raucous community call with Tarun Chitra about Staking derivatives 2.0 recording accessible here — they also dropped their whitepaper check it out!
- We saw another article from Arthur Hayes — this time in an article more bullish for crypto on how crypto (specifically the example of Bitcoin) provides a refuge from the dreaded yield curve control — volatility on the current market then ensued!
If you have a tip for the grapevine or are a partner with some news — hit us up via dm on twitter or one of our reporters directly.
OIP-93: Mint and Sync Snapshot Passed
Arguably one of the most important proposals recently put forward by the DAO, OIP-93 has passed thanks to an overwhelming turnout from the Ohmies. Over 888k OHM were used to vote in favor of the “mint and sync” mechanism with no change in reward rate (over 1.1 million OHM total).
The proposal will now effectively lower the reward rate — but as explained by Zeus is the preferred option for the swift implementation of the program — Ohmies agreed.
Onward and upward!
OIP-94: Inverse Bonds Are Live
As mentioned in the editorial the big news of the week was the passing of the OIP-94: Interim Ranged Stability Policy. This was proposed and approved as an interim measure to begin a maximum 90-day program to regularly purchase undervalued OHM off the market — with a target toward the 120 moving average. The bonds went live today with kicking-off with $200K DAI per day.
Inverse Bonds, which are now available on the Olympus website here.
OIP-95: Open Fraxswap Pool
Zeus popped down from the top of Olympus to back up OIP-93 mint and sync with a further proposal to open a Fraxswap pool. Fraxswap is a newly launched dex by the Frax protocol which allows the use of time-weighted automatic market makers or (TWAMMS) — which allow dollar-cost averaging positions on-chain over time. Perfect for rebalancing a DAO’s treasury — as Zeus suggests is the intended use.
Head on over and participate in the tempcheck vote here!
Frax seems happy
Odyssey Genesis Mint This Friday (29 April)
The time has finally come Ohmies! Olympus Odyssey has released the schedule for their Genesis Mint, which will include 3 mintable NFT’s with varying mint prices & rarity (price & rarity chart included below).
Why should I mint a Genesis NFT??
Genesis NFT holders will be given access to the soft launch of the Odyssey Marketplace, which will include exclusive listings from affiliate projects such as Apeliens, Bong Bears, Ether Gals and many more. On top of that, Genesis NFT holders will be granted XP multipliers and level bonuses within the Odyssey Marketplace rewards system.
For updates on everything Odyssey, join their discord!
Twitter Thread — Thoughts on OIP-94
OIP-94 (Interim Ranged Stability Policy Levers) has passed the vote from Snapshot, and here we have Zeus to break down the idea behind them, you can check it out here. If you have more questions about the OIP, head to discord and ask anything there.
Ohmie of the week : CMill (is,dumb)
Quote: “Spoys is a Potato and Jexx owes me a Bong Bear.”
Don’t mind the piercing eyes and the angry frown. CMill has been a constantly welcome presence in Olympus OT (the fabled off-topic channel in the discord). Especially during the rough times the community went through and with OGs off to build Rome or something… CMill held the fort in OT, lightening the mood with his own brand of humor, sharing stories about his kids, complaining about the music being played (or not being played) in the Athenian Klubhaus and talking about Heely’s.
He heard about OHM from a random Chico Crypto video in late March last year, liked the idea of eventual stability (he might be finally getting what he got in for?), since then the self-fudding jokester in him found OT as the perfect place to both vent his frustrations without hurting the broader community and to share a laugh through good and bad times. In his own words his love for OT “…goes back to the AOL chatroom days for me when everyone was a fuck off and nothing was serious. People need to learn to have fun and chill.”
Congratulations CMill our Ohmie of the Week!
Meme of the Week: Grey Coin Gud
This week’s Meme of the Week pokes fun at the moon boys expecting OHM to magically teleport to the 120 moving average price with the implementation of generalized inverse bonds (around $100). Of course, it won’t as the inverse bonds are methodically implemented in a slow cadence — fun to think about though!
Opportunities to contribute — Join Us
To get involved with what is happening atop Mount Olympus, join the DAO Discord.
Once you are in, head to the #dao-start-here channel and read the instruction carefully so that you can get assigned a role.
Have any questions? Just ask in the #general-dao channel and a helpful Ohmie will appear to guide you along your path.
Keep it (3,3), till next week Ohmies — with love from the Agora Dispatch team.
