OIP-55 - Olympus Grants Program

Full discussion for this proposal has happened on the forums. Please check that out before voting: https://forum.olympusdao.finance/d/540-oip-55-olympus-grants-program

---

Proposal

Approve Olympus Grants Program pilot with a budget of $1.5 million from DAO reserved OHM for a trial period of 3.3 months.

The committee suggests utilisation of DAO reserved OHM for the OGP fund is of most benefit to the DAO as the idle unstaked OHM are getting diluted by > $10M per day (assuming steady market price). If an enticing enough proposal is presented the community can vote on utilizing additional assets.

The program will be overseen by a committee of 7 DAO contributors known in the community from different departments within the DAO are:

• Apollo (Olympus Initiator)
• Appleseed (Engineering)
• Brian (Sherpa, Community & Content)
• Church (Product & Marketing for Odyssey)
• DropKickDarren (Community & Content)
• Json (Operations, Partnerships & Treasury)
• WollemiPine (Partnerships, Community & Content, Engineering)

All decisions will be voted on by committee with minimum of 4 of 7 votes for a grant to proceed. Voting will be made public and available to the wider DAO. The process and assessment criteria will be transparent and published as part of establishing this MVP.

OGP will launch with the following initial priorities:

1. Education - projects that educate people about Olympus
2. Infrastructure - projects that improve infrastructure of Olympus
3. Utility - projects that increase utility of OHM

Wrap UP

Unused funds from the OGP v0.1 would be rolled over into the next iteration of OGP, with approval of the community, or returned to the DAO pending a future vote.

At the end of the funding runway, the OGP committee will provide a report concerning the program.

After receiving feedback from the community, the OGP committee will propose adjustments and parameters for an ongoing program and then proceed to a governance vote. During this process, the program committee and DAO will continue to be able to work with existing grantees - as long as it remains within the approved $1.5 million expenditure cap.

Vote

1. Yes - approve Olympus Grants Program (OGP) administered by the DAO
2. No - do not approve Olympus Grants Program at this time