FIP: 3,3 Author: GrantG

Forum Discussion

Olympus Pool Party

Summary:

This is a signaling vote to determine whether Fei Protocol should mint and supply 1,333,333.33 FEI to the Olympus Pool Party Fuse Pool, after Olympus has whitelisted Fei as an asset

Motivation:

The Olympus fuse pool allows for users to lend their sOHM to borrow assets such as DAI, and then lever up on their sOHM positions from there. FEI Providing a large amount of liquidity, with a low interest rate would increase user adoption of FEI through these levering positions. This partnership would not only serve to increase FEI’s use across DeFi, but showcases FEI’s ability to support projects as well. Olympus has shown itself to be a community powerhouse, with thousands of highly active and aligned members. This FIP will show our alignment with Olympus’s quest to be a strong reserve asset, benefiting all of the Ohmies by allowing them access to huge amounts of liquidity to borrow from, while simultaneously increasing circulating FEI supply, and acting as a marketing vehicle for FEI.

Specification:

This proposal is a two step process. The first step is for Olympus to whitelist FEI as an asset to be added to their Fuse pool with the same parameters as the other stablecoins hosted there (collateral factor: 65%, reserve factor: 10%), this will have to be executed on their end. After FEI is whitelisted and added as an asset, FEI Protocol will mint and supply 1,333,333 FEI to the pool.

Voting Rules

Voting will last 2 days. Beginning Friday July 16th 18:00 PST, and ending Sunday July 18th 18:00 PST.

This is a non-binding signal vote. Please keep in mind that snapshot votes can be changed but not withdrawn until the end of the voting period.

The two options to vote are:

1. Mint and allocate 1,333,333 Fei to the Olympus Pool Party
2. Do not allocate Fei to the Olympus Pool Party.

This is a single choice vote, if option 1 wins the majority, we will submit a DAO proposal after the end of the snapshot vote.