Proposal to add OHM/FraxBP to the Gauge Controller

Summary:
OlympusDAO would like to increase its presence in the Curve ecosystem through the addition of a gauge for its newly created OHM- FraxBP pool. This would help further boost OHM & Frax liquidity on Curve.

References/Useful links:

Link to:

• Website: https://www.olympusdao.finance/

• Documentation: https://docs.olympusdao.finance/main/basics/readme

• Github Page: https://github.com/OlympusDAO    

•https://twitter.com/OlympusDAO 

Protocol Description:
Olympus is building OHM, a community-owned, decentralized and censorship-resistant reserve currency that is asset-backed, deeply liquid and used widely across Web3

Describe the proposed asset(s)
OHM is a highly liquid asset that is tradable on Curve (OHM-ETH), on Fraxswap (OHM-FRAX) as well as on Balancer (OHM-ETH-DAI ).

Motivation:
OlympusDAO has recently been in discussions with Frax Finance team which led to the conclusion that the migration of the Fraxswap OHM-Frax pool to an OHM-FraxBP Curve pool would be beneficial to both protocols. Indeed, we believe the combination of Olympus Treasury governance power over the Curve-Convex & Frax ecosystems as well as the FraxBP incentives program will help make this pool attractive for external liquidity providers, deepening liquidity for both OHM & Frax as a result.

Specifications:

  1. Governance: Provide current information on the protocol’s governance structure. Provide links to any admin and/or multisig addresses, and describe the powers afforded to these addresses. If there are plans to change the governance system in the future, please explain.
    OlympusDAO is currently using snapshot for Governance: Snapshot
    Treasury multisig 4 of 8: Holds Olympus Treasury assets
    DAO multisig 4 of 8: Holds DAO funds
    Policy multisig 3 of 5: Changes to policy (reward rate adjustments, turn on/off bond markets)

  2. Oracles:
    No oracles used

  3. Audits:
    Audit Reports

  4. Centralization vectors:
    No centralization vector

  5. Market History:
    OHM-FRAXBP was recently launched and the pool is yet to be seeded. If approved, Olympus Treasury will migrate its OHM-FRAX assets currently pooled on Fraxswap to this Curve pool and will then engage in activities to attract 3rd-party liquidity providers.

  • For
  • Against

0 voters

1 Like