☎️ Join us in Discord in approx. 1 hr (6pm UTC) for our Bi-Weekly Community Call!

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Olympus’ 3rd batch of Cooler Loans fully subscribed, FT users lose 42 ETH in SIM swap attacks, OpenSea releases new NFT tooling and more 📰 Catch up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

Third batch of Cooler Loans, OIP-148 passes Snapshot, and more! 🧵/👇

✨ @getblunded has added support for $OHM on their trading platform

⚡️ OIP-148: Towards a Fully Autonomous Olympus 2.0 has moved to Snapshot! The vote will last until Thursday, 4PM UTC. Cast votes here 👇

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Olympus releases 2nd batch of Cooler Loans, SBF’s trial date, MoneyGram to launch non-custodial wallet and more 📰 Revisit last week’s headlines, so you’re ready for this week! 🗞️/ 👇

9/🗺️ Explore the econOHMy For all the $OHM utility 👇

Second batch of Cooler Loans, a refreshed landing page, and more! 🧵/👇

Smart money is here. dApp 👉https://t.co/Wvh15P0NrU Docs 👉https://t.co/vD6r9A0Iul

🗳️ Delegated Voting is live for Cooler Loans participants! Details 👇 The Delegate Voting button will appear beneath the Borrow DAI & Open Position button if you have an active loan. Please delegate before Wednesday 2PM UTC. Undelegated collateral is not recognized by Snapshot, and must be delegated before the vote on OIP-148 is live. Self-delegation is required to be able to vote. As a reminder: ‣ ALL of the collateral in your Cooler is delegated when calling this function, it is not on a per loan basis ‣ If you have multiple loans, they will all be delegated to the same address ‣ You only need to call delegate once, it will automatically recognize each time you add to a loan to your Cooler and reflect the increased collateral. ‣ You can choose to change the address that you delegate to at a later time Delegate here 👇

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Olympus releases Cooler Loans, Ether shifts inflationary, Pokémon cards turned into NFTs and more 📰 Catch up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

First round of Cooler Loans deployed, OIP-148 moves to Snapshot, and more! 🧵/👇

Friendly reminder that the gOHM/DAI pool expires within 48 hours. Be sure to repay any debt you may have in the pool or your collateral will be forfeited to the lender

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🏛️ Governance Update 🏛️ Two OIPs are on the forums. Please leave your feedback at your earliest convenience as OIP-149 is in an expedited governance process to accommodate the launch of Cooler Loans. 1️⃣ OIP 148 - Towards a fully autonomous Olympus 2.0

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2️⃣ OIP-149: Backing Ratification for Cooler Loans and RBS

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$500k+ available to borrow for gOHM/USDC |Smart, Money| is liquid on Teller 🏧 @OlympusDAO

Olympus lays out a revised vision to autonomy,

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hits 20M TVL, Metamask now interoperable with Bitcoin and more 📰 Brush up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

Cooler Loans progress, a revised RFC regarding the autonomous vision for Olympus, and more! 🧵/👇

🌃 @overnight_fi has reserved a spot for Ohmies in their launch campaign! More details 👇

Olympus to move protocol owned liquidity to a v3 position, a crypto casino suffers an exploit, Justin Bieber releases an NFT song and more 📰 Catch up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

Approval for a protocol owned liquidity v3 pool, a new $gOHM lending market and more! 🧵/👇

✨ $gOHM has a new lending pool! Courtesy of @dropslabs Check it out 👇

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🤔What is Drops? Drops is a liquidity & staking protocol for web3 assets. It is a permissionless money market platform comprising of distinct lending pools, supporting a variety of assets including Non-Fungible Tokens (NFTs), Yield Aggregator Positions, and ERC20 tokens. Lean more in their docs:

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⚡️ TAP-30: Request to create a Full-Range OHM/ETH Univ3 Liquidity Pool is live on Snapshot! The TAP proposes this LP will function as the primary source of Protocol Owned Liquidity, following the highly anticipated introduction of Cooler Loans. Vote here 👇

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Olympus explores multiple Treasury Amendment Proposals, Grayscale clocks a legal win over the SEC, Binance to wind down BUSD and more 📰 Brush up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

Treasury backing consolidation continues, multiple governance proposals, and more! 🧵/👇

🏦 TAP-30: Request to Create a Full-Range OHM/ETH Univ3 Liquidity Pool is live on the forums! The TAP proposes this LP will function as the exclusive source of Protocol Owned Liquidity, following the highly anticipated introduction of Cooler Loans. See the proposal 👇

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🏛️TAP-29: AURA Solicitation to Bid is live on the forums! This is our formal solicitation to bid on our AURA position. Please review the terms and interested parties can engage by following the instructions on the forum 👇

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This solicitation will run for three days.

Olympus’ highly anticipated Cooler Loans enters audit, Tornado Cash founders charged, FriendTech could draw SEC scrutiny and more 📰 Catch up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇

Audits begin for Cooler Loans, Olympus begins initiating swap with Redacted, and more! 🧵/👇

OIP-147: Towards a Fully Autonomous Olympus is live on Snapshot! Make your voice heard here 👇

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☎️ Join us in Discord for our bi-weekly Community Call in just under 1 hour!

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13/Ω If you found the debrief useful we would very much appreciate: 🥇 Follow @OlympusDAO 🥈 RT your favorite headlines to spark the conversation! Are you looking for recent Olympus highlights? 👀 👇

Olympus publishes the Q2 report, a proposed swap with Redacted DAO moves to snapshot, and more! 🧵/👇

🏛️ Governance Update 🏛️ ⚡️ OIP-146: Swap between Redacted DAO and Olympus DAO is live on Snapshot:

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🗳️ OIP-147: Towards a Fully Autonomous Olympus has been posted on the forum:

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📙 The Q2 Report is here! The report provides an overview of OlympusDAO's activities and progress during the second quarter of 2023. Key highlights include: 🔵 Treasury Management: Assets consolidated out of original treasuries, leaving only $100k to be sold into DAI/ETH. Over 1.4 million OHM bought back and burned via the RBS module for $11.4M. Net treasury income was $747k plus lending inflows. 🔴 Policy Updates: Focus on managing volatility via the RBS module and preparing for Cooler Loans launch. RBS buys stabilized price within ranges. Analysis done on implications of Cooler Loans. 🟢 Partnerships: New integrations added for OHM utility, including lending platforms and native Boosted Liquidity Vaults. Cross-chain OHM launched. New grantees bringing products to market. 🟡 Council Updates: Assisted with treasury consolidation, cross-chain efforts, budget adherence, smooth team transitions, and forum migration. Engaged community on Cooler Loans. 🏛️ Governance: Increased engagement, especially around proposed lending facilities. Over 20 proposals voted on. Governance power distribution remained decentralized. 🛣️ Looking Ahead: Groundwork laid for the launch of Cooler Loans, which will bring further iterations to the protocol and DAO. Continued focus expected on decentralization and automation. See the full report 👇

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Olympus gets a new automated V3 strategy, PayPal launches a stablecoin, SEC files appeal against Ripple and more 📰 Visit last week’s headlines, so you’re ready for this week! 🗞️/ 👇

On the heels of some spirited debate, we are pleased to bring you a series of four votes that specifically speak to the Cooler Loans Proposal. Each of these four votes speak to a specific portion of the mechanics: Loan Capacity, Loan Value, Loan Interest Rate and Loan Tenor (Duration). All four votes will end June 16, 2023 7:00 PM. Capacity vote:

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Loan Value vote:

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Interest Rate vote:

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Tenor vote:

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One important note is that there will be a follow up "Configuration Approval" vote after these are concluded to lock in a single, cohesive configuration for Cooler Loans. As always, we appreciate your attention on this critical piece of policy and your engagement in the process.

Lido Finance 🤝Olympus. Staked ETH gets a boost in a new liquidity product

On another note, as per the OIP - 133, which I mentioned several times while it was in the talks, the staking rate will drop to 2.3% with the next rebase

discord.com

Option 1: One-time OHM bond as a temporary replacement Steps taken: Wait until lending AMO test is concluded, and for Flex Loan and alOHM have decent alternatives Issue a single bond market at fixed 7.33% to mature in 6 months After bond market closes, begin turning staking to 0 (cliff or slower decline tbd) The problem solved: Several projects are more complicated to complete due to staking existing and the gOHM token’s ubiquity: OHM bonds, on chain gov, LP farming, and lending OHM for example. However, moving staking to zero now without an acceptable replacement risks a very poor user experience with no solid timeframe for improvement. The compromise is to use an OHM bond to fill the gap while these projects are being worked on. Users who want “simple” yield can get into the bond. Meanwhile the “use case” projects are easier to complete since they don't have to compete with gOHM anymore. Option 1 Pros: Projects have better chance of success and are simpler to execute Lowers emissions now; saves potentially $millions in OHM emissions Maintains a base use case for users; “softens the blow” “Forces” users to search out better yield opportunities and use their OHM Option 1 Cons: More complicated to manage vs keeping staking around Requires partnership buy-in (flex loans, alOHM, Euler/Silo) Potentially high dev effort to make fixed rate OHM bond at scale High user effort; must unstake and move to OHM bond to maintain yield Potential for above average sell off on maturity Short term solution that will need addressing in a fixed time frame Option 2: Wait to touch staking until suitable alternative projects are completed Steps taken: Wait until the following projects are implemented and successful: Lending Leverage LP farming OHM bond vaults Once the above list is satisfied, reduce staking to 0% The problem solved: Staking is the core of the protocol currently, and gOHM is everywhere. Killing gOHM’s “simple yield” option before alternatives arise is a surefire way to put the protocol in a bad position. We need to give the market time to find other solutions organically. We shouldn't ram through massive changes without having solid solutions in place first. Option 2 Pros: Simple, “wait and see” approach Low risk of community disillusion with yet another change, Gives community plenty of time to warm up and embrace the idea Gives partners plenty of time to find alternative yield paths Option 2 Cons: High cost in emissions vs ending staking sooner, potentially in the $millions Does not solve the issue of staking cannibalizing on the success of other alternative projects (OHM bonds for example) Impacts the likelihood of users seeking out of alternative yield sources while they are being rolled out (think: lending, LPing, or things under discussion like a passive OHM pool for Gearbox) Potentially negative feedback loop of “wait and see”, but the problem could be staking so we never get to see Option 3: Stepwise staking reduction Steps taken: Wait until Lending AMO test is finished (a few weeks) Reduce staking to 2.33% Wait until the projects list from Option 2 is complete Reduce staking to 0% The problem solved: This option is a bit of a compromise between the two other ones. It's less risky than Option 1 while still reducing the long term protocol cost. It's “smarter” than Option 2 while still avoiding complexity. Option 3 Pros: Relatively simple Lowers cost to the protocol Allows other projects to somewhat breathe and buys them time to be successful before fully killing staking Option 3 Cons: Kicks the can down the road, doesn't fully simplify other projects like OHM bonds Does not solve for gOHM token making other projects more complex (like on chain gov) Doesn't save as much as Option 1

twitter.com

https://www.olympusdao.finance/transparency

Ohmies, Join us this Thursday (December 15th) for Fohmo 6 - Christmas edition! We will start the event on twitter spaces and continue it on our discord server.

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Ohmies, Got a little Snapshot action for ya on this fine Friday. Help us solidify the strategy, vision & guiding principles for the future of Olympus. ▶️ OIP-117:

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Voting Ends: September 6th, 16 UTC ▶️ OIP-118:

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Voting Ends: September 6th, 16 UTC ICYMI OIP-114 - Testing OHM Bonds could still use a little love, it ends in 20 hours. Go Vote! ▶️

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Ohmies, Over the last year, OlympusDAO has implemented a number of initiatives to improve understanding of how the DAO is executing on community authorized and mandated activities and initiatives. Today, we are pleased to announce another transparency initiative: the Olympus DAO quarterly report series. The first report provides information about DAO activities during the first half of 2022. Moving forward the DAO will release reports on a quarterly basis. The report answers many questions the community has about: What is OHM’s roadmap? The report outlines current and planned activities – aligned with the Olympus12 Action Plan – focused on achieving our goal of making OHM a trusted decentralized reserve currency How are the DAO Working Groups Performing? Policy, Treasury and other DAO Working Groups have developed reports on their activities during Q1 and Q2 2022 What are near-term priorities? Read the report to understand what is planned for Q3 2022 Moving forward, these reports will be released on a quarterly basis, and published on the Transparency section of the Olympus DAO website. 🔗 Link to current H1 Report: https://www.olympusdao.finance/transparency#quarterly-reports The Olympus DAO Council will attend the cOHMmunity call on discord to discuss the quarterly report and answer any questions the community may have.

Ohmies, OIP-94 Amendment! We've put a discussion up on the forum to extend the Inverse Bond program. Join the discussion: https://forum.olympusdao.finance/d/1250-oip-94a-amend-interim-ranged-stability-policy-levers

Ohmies, The reward rate reduction, as mandated by OIP-100, is in now in progress and will conclude over the course of the next 7 days (21 rebases). For more details:

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Ohmies, the policy team just published the following update on weekly bonds: OlympusDAO continues to support its market through inverse bonds, here are the numbers for next week: - The current inverse bond capacity is $373k DAI per day running until next Thursday. Previous capacity was $490k/d. - 2 DAI markets are currently available, with max payouts of ~50k and ~170k. - Inverse bonds will run for up to 90 days or until the 120-day average moving target price is met - Inverse bonds are constantly monitored and capacity and implementation will change over time based on market conditions for maximum impact The point of inverse bonds are to: - Absorb irrational sells - Create demand for OHM, via stakers recycling OHM to take advantage of bond discounts