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BeetsBeetsby0x54112621902E4c667DaB80cE5105a72b448dE8e40x5411…E8e4

Extend Olympus Pro bonding program for three months

Voting ended almost 4 years agoSucceeded

We propose to continue the bonding program at Olympus Pro to gain DAO Treasury owned liquidity.

Recall that according to BIP2 and BIP9, we have used bonding program with Olympus Pro for about 3 months. 550k BEETS were used for bonding each month in exchange of A Late Quartet (FTM-USDC-ETH-BTC weighted pool) liquidity.

Currently, the bonding program has gained around 8576 A Late Quartet liquidity token (currently worth $1.12m). In other words, the treasury has gained $1.12m worth of major token liquidity. In exchange, around 1.5M BEETS were distributed (currently worth $1.18m). Overall discount around 4.33% (which includes the 3.3% fee Olympus Pro takes).

Overall, the bonding program has been quite successful in diversifying the treasury assets and also offered discounted BEETS to long term holders. Owning major asset liquidity such as ftm-usdc-eth-btc enables long term prosperity of our treasury.

Thus, we propose to continue the bonding program for another three (3) months. Since the BEETS emission is going down, we propose to use 460k BEETS each month (around 16.4% reduction from the current 550K per month rate).

Off-Chain Vote

Yes, extend the bonding program
9.77M BEETS-LP84.4%
No, stop the bonding program
1.81M BEETS-LP15.6%
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Timeline

Mar 30, 2022Proposal created
Mar 30, 2022Proposal vote started
Apr 02, 2022Proposal vote ended
Oct 26, 2023Proposal updated