The Agora Dispatch — Olympus Community Weekly Newsletter — Wednesday 9 March 2022

Welcome to the Agora Dispatch — an Olympus community-run newsletter — made by Ohmies, for Ohmies!

  • Editorial — Ready for the bear
  • Tracer perp market
  • Anchor protocol whitelist: TAP-7
  • RFC: Best eth-staking for Olympus treasury
  • Olympus Pro Recap: February 2022
  • Introducing Inverse Bonds
  • Odyssey Airdrop: OhmieDay NFT
  • OlympusDAO Instagram page
  • Ohmie of the Week: nf.carlo.acutis
  • Twitter Thread — Forward guidance
  • Meme of the Week — Happy Ohmie Day! (credit Shreddy)
  • State of the DAO — Weekly Update
  • Opportunities to Contribute — Join Us

Editorial — Ready for the bear

We saw a tweet from @Wagmicapital this week — it is just so obvious once said out aloud.

Now, the idea was always to become a reserve asset — so what would that look like:

  • an asset predominantly backed as decentralized units of the current reserve currency
  • with calls on the strategically important assets FXS, Convex, Tribe & Tokemak
  • an interest in upcoming top-tier protocols FDT, VOLT, DEBTDAO

Let the cohmfyness begin — we are ready for the bear!

https://twitter.com/WAGMIcapital/status/1500673674114142209

Request for Comment: Tracer Perp Market

Tracer is a derivative platform on Arbitrum that facilitates permissionless deployment of markets. With their Perpetual Market feature, users can long or short their position while mitigating the risk of liquidation.

Tracer are seeking to create a market using gOHM and OHM as collateral — what they want in return — Other than the support from Ohmies using these products on Olympus UI, if they are interested, and a bit of co-marketing we really aren’t asking for anything and are willing to do the work to make this dream a reality.

Check it out here here.

Olympus Pro Recap: February 2022

One of the brightest spots within the Olympus Ecosystem so far in 2022 has been Olympus Pro.

With new partner protocols being onboarded every month (and renewal of bonds from protocols already using OP), the innovative “Bonding-as-a-service” mechanism continues to prove its value within DeFi.

They released their monthly report this week — you can access it here.

The highlights were:

New Olympus Pro Partners in February:

  • Crypto Raiders — a utility-based NFT RPG where players own the assets.
  • Gamma — An active liquidity management and market making protocol on Uniswap V3.
  • Tarot Finance — A protocol for leveraging Fantom LP tokens.
  • GET Protocol — A protocol for creating NFT tickets.

Current Olympus Pro Partners renewing or launching new OP Bonds:

The success of Olympus Pro has led to the production of consistent revenues for the protocol, bringing in $850k in January and $644,000 in February, or an annualized revenue of $8.96 million.

We think it’s pretty impressive for a tertiary revenue source for the protocol and now they are finally expanding to Optimism! $THALES-$WETH bonds going live shortly, this marks the sixth chain in the portfolio.

TAP-7: Anchor Protocol Whitelist

Anchor is a decentralized savings protocol offering low-volatile yields on Terra stablecoin deposits. The treasury team is seeking comments for the deposit of idle UST into Anchor Protocol. In exchange, Olympus will receive Anchor Terra (aTerra) while earning yield on the UST.

The forum post can be found right here.

RFC: Best ETHStaking platform for Olympus

Our friends from the Policy team are exploring different platforms to potentially stake the ETH currently held in the treasury to earn beneficial, but safe, yields. The team is currently considering both RocketPool and Lido and have requested feedback from the Ohmies during this process.

While current partners at Lido raise centralization concerns (because of validator selection), RocketPool doesn’t have the best liquidity. Where do you think Olympus should stake its Ether?

Use your degen experience and let Balotelli know here.

Introducing Inverse Bonds

Revolutionary ideas run in Olympus’ blood. This time, the policy team has revealed how it aims to maximize the potential of the bond system, which can bring OHM out of circulation, yet increase the backing per OHM.

As an Ohmie, you must be familiar with bonds — you provide an asset in exchange for discounted OHM. With inverse bonds, the process is reversed — when OHM’s price is below its liquid backing, users can give their OHM to the treasury and receive other treasury assets in exchange. By doing so, Olympus achieves the point of filling the demand and satisfying supply, while Ohmies can get an exchange rate higher than the market price (what a win-win scenario!). Read more details about inverse bonds here.

You can check out the liquid backing assets on this Dune Dashboard.

OIP Round-up: The Econohmy, won’t stop, can’t stop!

This week three Olympus Improvement Proposals (OIPs) moved to the formal snapshot voting phase. Keeping in line with the clear goal of “Building the Econohmy” this year, all three OIPs are meant to further cement the position of Olympus at the center of the Econohmy.

OIP-51A (Amendment to Strategic Asset Whitelist) proposes to add FDT (fiatDAO) and BTRFLY (Redacted Cartel) to the whitelist of tokens that the DAO is pre-approved to acquire — through bonds, DAO swaps or market orders. This comes at a convenient time with the full launch of fiatDAO just around the corner.

Next up, OIP-84 (Add Strategic Liquidity Pairs to the Treasury) builds on top of OIP-51A and asks for community approval to allow for bonding LP tokens from our partners’ OHM denominated pools (up to a max cap of 10% of their LP and 1% of OHM Marketcap). OIP-51A and OIP-84 together will allow Olympus to support its partners by acquiring BTRFLY-OHM and FDT-OHM liquidity when the time is ripe.

Another expansion in the Econohmy is signaled through OIP-78 (Execute $2M DAO Swap with Fei Protocol). Since Rari merged with FEI, we are well disposed to this. This proposal signals a commitment to bond in FEI, and a commitment by FEI to bond up to 1% of their PCV as OHM. For the Ohmies, this partnership also opens the doors to utilizing Tribe Turbo for safer yield generation opportunities with their staked OHM. As usual, this isn’t happening in a vacuum, as Olympus Incubatee Volt Protocol has recently also proposed to partner more deeply with Tribe.

The Econohmy be growing!

If you haven’t already, please head over to the relevant snapshot pages and vote on OIP-51A, OIP-84, and OIP-78.

Odyssey Airdrop: OhmieDay NFT

Ohmies, have you checked your wallet lately?? Odyssey has airdropped new NFTs to more than 104,000 Ohmies! As long as you staked at least 0.5 $OHM anytime since June 2021, you’re eligible!

Two major points for the airdrop: (1) This is an Ohmiespass for you to mint the Genesis NFT in April. (2) with the Genesis pass, you can earn $OHM rewards plus get access to the Olympus NFT marketplace.

https://twitter.com/OdysseyOlympus/status/1500158006918631431?s=20&t=PZd_Vp8BzYr-nXWp00KFww

OhmieDay drop FAQ:

https://docs.google.com/document/d/1Po0qD7GWkTgJii3u6yTt03wyWkzEhBV9GboiPfw27PY/edit?usp=sharing

OlympusDAO Instagram page

Looks like the DAO heard you Ohmies! OlympusDAO has been impersonated time and again by NGMI folks on Instagram and it’s finally time to nip this in the bud. Say GM to the official OlympusDAO instagram page!

The link can be found right here and don’t forget to give them a follow. Road to the blue checkmark begins!

Twitter Thread — Forward guidance

https://twitter.com/unbanksyETH/status/1499615238244630530

This week, unbanksy, delivered raised the specter of open market operations — that is how Olympus could set forward guidance about what a price should be and target a date on which that price should arrive.

It is an interesting idea and one worth thinking about when the market is so often irrational — time will tell how such a system could be implemented — but anything will always have to travel through the regular governance processes.

Meme of the Week — Happy Ohmie Day! (credit Shreddy)

Olympus will turn one this month, and it has brought the (3,3) meme to virality in this tiny span of time. (3,3) has become the way of many Ohmies, as a meme of win and help win cooperation and kindness.

In celebration of this spirit, the third of March has become the official Ohmie day, and Olympus has prepared some surprises for you which we have covered earlier in this edition (and some more coming soon we hear).

A lot has happened in the world lately, and while the macro outlook looks as grim as ever, we hope this sunny meme from Shreddy will cheer your day. March on, Ohmies!

Ohmie of the week — Nf.Carlo.Acutis (Econohmisssssst)

Ohmies, if the jigabrains on Reddit aren’t enough for you, Carlo can bring the golden economic era of the 20th century to your front door.

Ohmies, if the jigabrains on Reddit aren’t enough for you, Carlo can bring the golden economic era of the 20th century to your front door.

Congratulations Carlo on being our Ohmie of the Week.

State of the DAO — Weekly update

We highlight some of the updates that happened in the DAO over the past week:

Community

  • Dropkickdarren the new Stratego for Community, and is working with several team leads for a better compensation framework.

Engineering

  • Inverse bonds mechanism is ready to go.
  • Multifarm dashboard integration to be released later this week.

Olympus Give

  • Plan to start audits for Tyche v2 next week.

Olympus Grants

  • Over 75 applicants for the 3,3 Day Hackathon; selection of 3 winners is in progress.

Olympus Pro

  • To launch Optimism OP this week.
  • Working with the Engineering team to build permissionless OP.

Operations

  • Successfully distributed February allocation last week.
  • Working on cleaning up the various Discord channels and notion databases.

Partnerships

  • To launch Proteus on Terra and Solana.

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.

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