Boule: Listing Olympus DAO

Liquidity Curation through Big Brains

As a group of world class experts in DeFi, the AladdinDAO Boule are responsible for identifying and voting the most promising DeFi projects and enabling AladdinDAO community members to enjoy the returns of their liquidity mining programs.

Voting Mechanism

Any project can apply to be listed on AladdinDAO. However the project needs to be nominated by at least one boule member to initiate voting process.

Boule members vote through ALDVOTE. They can either upvote, downvote or be neutral to a project.

For any project to be listed on Aladdin for liquidity mining, they must fulfill at least one of the following criteria:

Over 50% of boule members vote and a majority of the votes are “Yes”. The percentage of “Yes” votes is 20% more than the percentage of “No” votes. These criteria ensure that sufficient consensus can be achieved, given the high costs associated with listing new projects. They also prevent potential attacks and collusions during the voting process.

Since 31 OCT 2021, if boule think they don’t have enough information about the project or if they are neutral to the project, a neutral vote is added to the yes or no vote. Neutral votes will not be used to calculate boule member performance.

Here is the details about the new change: https://snapshot.org/#/aladdindao.eth/proposal/0x85ddf0750dee14e450f10ea2e44645dd382b04f42daf5bb49e6647b0d5906fc2

Veto

Decision overturn: If any boule member strongly disagrees with the Boule’s decision, they can call for a vote by all ALD token holders. A decision can be overturned if the below conditions are met:

A quorum of over 20% circulating token holders participating Over 51% agreement

Project 1: Olympus DAO

Olympus is an algorithmic currency protocol with the goal of becoming a stable crypto-native currency. Though sometimes called an algorithmic stablecoin, Olympus is more akin to a central bank since it uses reserve assets like DAI to manage its price. The goal is to achieve price stability while maintaining a floating market-driven price. The biggest difference between OHM and stablecoins like USDC is that OHM is backed but not pegged to a certain price. Technically, the price floor for OHM is 1 DAI, but practically a premium and the treasury value is added to the price. OHM differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues OHM to buy DAI and other assets and maintain a treasury. This mechanism is similar to FEI; the key difference is that FEI keeps a dollar peg, and Olympus allows its token to float.

Website: https://www.olympusdao.finance Whitepaper: https://docs.olympusdao.finance/main/ Twitter: https://twitter.com/OlympusDAO Github: https://github.com/OlympusDAO Medium: https://olympusdao.medium.com

Here is some introduction about projects above in AladdinDAO’s Boule Research Meeting. https://www.youtube.com/watch?v=tERVmXKpYLw

Meeting Summary https://drive.google.com/file/d/1PPd-hX4GlHigZm4KR6OIQkEBZF-1b3kX/view?usp=sharing

You may only cast one vote (either Yes/No/Neutral) for each project, otherwise it will be considered invalid. Only Yes and No votes will be counted as part of performance/rewards calculations.