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BeetsBeetsby0x54112621902E4c667DaB80cE5105a72b448dE8e40x5411…E8e4

Continuing Olympus Pro bonding program

Voting ended about 4 years agoSucceeded

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

Recall that according to BIP2, we initiate a bonding program with Olympus Pro about 3 weeks ago. 550k BEETS were used for bonding in exchange of A Late Quartet (FTM-USDC-ETH-BTC weighted pool) liquidity.

At the writing of the proposal, the bonding program has gained around 2227 A Late Quartet liquidity token (currently worth around $297K). In other words, the treasury has gained $297K worth of major token liquidity. In exchange, 500k BEETS were distributed (currently worth $400K). Overall discount around 25% (which includes the 3.3% fee Olympus Pro takes). Note that since BEETS has increased in price lately much more in comparison to the Late Quarter BPT, the actual average discount during bonding has been less.

Overall, the pilot program is 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 at the same rate of BEETS supply for another two months. The liquidity token under consideration is either A Late Quartet or Steady Beets, Yearn Boosted.

Voting options:

  1. Bonding for two months of A Late Quartet liquidity;
  2. Bonding for two months of Steady Beets, Yearn Boosted liquidity;
  3. Bonding for one month of A Late Quartet and one month for Steady Beets, Yearn Boosted liquidity;
  4. No, do not continue the bonding program.

Off-Chain Vote

Yes, two months Late Quartet
4.87M 56.4%
Yes, two months Steady Beets
498.97K 5.8%
Yes, one month each pool token
373.44K 4.3%
No, stop bonding program
2.89M 33.5%
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Timeline

Feb 11, 2022Proposal created
Feb 11, 2022Proposal vote started
Feb 13, 2022Proposal vote ended
Oct 26, 2023Proposal updated