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OlympusDAOOlympusDAOby0x389b11C4fA4b95bCc252A2B20Bb62310Fbc36746abipup.eth

OIP-173: Reorganize POL

Voting ended about 1 year agoSucceeded

Summary:

Reorganize mainnet and cross chain POL.

Background:

Olympus currently has primary protocol-owned liquidity on mainnet, with smaller pools on Base and Arbitrum. The pools are all full-range OHM-ETH pairs, with $6m on mainnet, $340k on Base and $315k on Arbitrum. There is also an OHM-sUSDS pool on mainnet that spans ~$23.5-$58 with 330k OHM.

Proposal:

Make the following changes to protocol-owned liquidity:

Arbitrum:

  • No change.

Mainnet:

  • Change sUSDS pool's OHM side to be 750k OHM from 23.5 to infinity.
  • Change sUSDS pool's sUSDS side to include $2.5m from $15.5-23, added in $250k chunks on $0.75 ranges (ie $17-$17.75). sUSDS liquidity is only to be added single-sided (ie price must be >18.5 to add the 17.75-18.5 range).

Base:

  • Remove OHM-ETH pool.
  • Add OHM-sUSDS pool with 75k OHM and whatever amount of sUSDS for 12-infinity pool (currently ~$375k).

Solana:

  • Add OHM-USDC pool with 75k OHM and whatever amount of USDC for 12-infinity pool (currently ~$375k).

End State:

OHM-Stablecoin liquidity in 12-infinity range across chains amounts to $3.1m and 0.9m OHM. Additional OHM-ETH liquidity in 0-infinity range across chains amounts to 910E ($3m) and 150k OHM. Total depth equivalent to a full-range pool with 7% supply.

Motivation:

Deepen POL to better accomodate the emissions manager, and expand access to OHM by increasing weight of cross-chain pools.

Implementation:

Since the guardian still has adequate Roles, this vote can be conducted through snapshot. Assets on Solana to be custodied using a Squads multisig, with concentrated liquidity through a Kamino fixed-range vault on Raydium.

Post-Note:

Origami's hOHM should further expand access, and drive activity onto these pools. Berachain-specific discussion should occur once a launch date is set.

Off-Chain Vote

Approve OIP-173
3.23M OHM100%
Reject OIP-173
66.37 OHM0%
Download mobile app to vote

Discussion

OlympusDAOOIP-173: Reorganize POL

Timeline

Jan 06, 2025Proposal created
Jan 06, 2025Proposal vote started
Jan 09, 2025Proposal vote ended
Nov 12, 2025Proposal updated