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New OrderNew Orderby0x6a78E13f5d20cb584Be28Fc31EAdB66dE499a60b0x6a78…a60b

RFF: Transition to Olympus Pro

Voting ended about 4 years agoSucceeded

Summary: The New Order treasury still mainly consists of NEWO tokens, and in order to sustainably diversify the treasury and make the LP contain sustainable liquidity, a strategic move would be to exchange the liquidity mine to leverage the Olympus Pro platform. This proposal suggests that the treasury subDAO allocates 2,000,000 NEWO on Olympus Pro in order to sell NEWO bonds.

Specification: These would subsequently be staked backed on Sushi, and accrued SUSHI rewards from these tokens would be converted into xSUSHI, whereas we can create two new revenue streams from not only bonding fees, but also xSUSHI apy.

All liquidity rewards will be claimed, compounded, and locked on a regular basis at the discretion of the Treasury subDAO, which will consider and weigh operational costs against accumulated rewards in the contract to make an informed and economically sound decision on the correct timing of these operations.

A successful passing of this proposal will allow the Treasury subDAO to continue with this operation until the incentivization on Sushi ends, or a different proposal replaces the method of utilization of the tokens in question.

Rationale: This proposal aims to:

  1. Diversify the token allocation of the treasury to more stablecoins, and put liquidity into custody of the treasury.
  2. Create positive feedback effects from the revenue generated in order to constantly increase returns for all NEWO holders.
  3. Have a potential say on proposals & the decision-making processes in the suggested protocols by holding their native governance tokens custodied by the Treasury.

Are you for or against this transition?

Off-Chain Vote

For
3.7M 96%
Against
151.99K 3.9%
Abstain
2.19K 0.1%
Download mobile app to vote

Timeline

Jan 25, 2022Proposal created
Jan 25, 2022Proposal vote started
Jan 30, 2022Proposal vote ended
Oct 26, 2023Proposal updated