LIP-001 : Allocate LQDR from developer wallet to Olympus pro

LiquidDriver is thrilled to introduce a solution to start acquiring our own native liquidity, starting with LQDR-FTM.

As discussed extensively with the community, Liquiddriver is looking to acquire its own liquidity, it would allow us to set a price floor while reducing the impact of potential sell-offs and would allow us to allocate more emissions for other productive pools, increasing yields for xLQDR holders. We could also decide to decrease emissions, making LQDR more scarce.

About Olympus pro :

Olympus Pro is the new industry-standard platform to help protocols acquire their own liquidity. Protocols no longer need to pay out high incentives to rent liquidity, while also guaranteeing the permanence of liquidity to facilitate transactions. Olympus Pro solves for liquidity problems by providing bonds-as-a-service for a small fee. Instead of staking their LP (liquidity provider) tokens for farming rewards in a pool 2, users can exchange their LP tokens for the protocol's governance tokens at a discounted rate. This is done through a process called Bonding. As the protocol never sells these LP tokens, the liquidity is effectively locked within its treasury.

You can learn more about it here :

• Website : https://www.olympusdao.finance/pro
• Doc : https://docs.olympusdao.finance/main/
• Twitter : https://twitter.com/OlympusDAO
• Discord : https://discord.com/invite/6QjjtUcfM4
• Medium : https://olympusdao.medium.com/

Proposal :

We would be included in the first Olympus Pro cohort which should start beginning of November.

• LiquidDriver would allocate 250 000$ worth of LQDR ( ~ 36 500 LQDR at time of writing )
• Users will be able to acquire LQDR at a discount by vesting their LQDR-FTM spirit LP tokens over a 5-days vesting period
• Discount is determined by the market, based on Demand & Supply
• At the end of the vesting period, LiquidDriver would own the LQDR-FTM LP tokens
• Olympus pro takes 3.3% fee on LP tokens used for bonding
• Duration : 31 days. We would launch an other vote 1 week prior to the trial ending to see if the community decides to extend the offer and/or modify allocations.

If we were to make it a permanent offer once the trial ends, we would have to decide how much emissions we are willing to allocate each month. For the first month, emissions won’t be allocated for bonding, it will be funded from the developer wallet.