OIP-148 : Towards a Fully Autonomous Olympus 2.0

Summary As a result of the successful passing of TAP-28, the DAO proposes accelerating the automation of Olympus, as well as making necessary adjustments to the 2023 projects and current operations, in order to facilitate the successful launch of Cooler Loans, as well as to further decentralize and automate protocol operations.

Motivation As stated in the Cooler Loans RFC and related proposals, a key motivating factor for the implementation of Cooler Loans is to optimize for the protection of network value and privatize the risk and reward associated with asset deployment activities. This strategic decision is prompted by the recognition of external macroeconomic forces beyond the community’s control, reinforcing the need to proactively safeguard against potential risks.

While Cooler Loans will effectively simplify and de-risk the treasury to a degree, there is still a need to mitigate or minimize the operational, regulatory, and smart contract risks associated with the protocol. It is the DAO’s opinion that given Cooler and the above stated goals, the best path forward is full protocol automation and autonomy, coupled with the implementation of on-chain governance, allowing anyone to propose code upgrades and build on top of Olympus. We believe that since the protocol is already on this path of minimizing treasury risk, only by doing the same for all associated risks will we put OHM in the best position to achieve its vision of becoming a reserve currency.

With this proposal, the DAO aims to lay out the vision and present a 6-month path to achieve above-mentioned protocol automation and autonomy. It also aims to align existing projects and products with this vision and the realities of what is feasible and advantageous in a post-Cooler world, as well as provide clarity to the broader community and partners.

To read the full proposal, read the forum post below: