TAP-26A - Expansion of Vendor Finance Partnership

Summary

This latest TAP is a followup to TAP-26 and serves as a comprehensive guide aimed at providing clarity on the loan terms to be used for a pool deployment onto Vendor. The loan terms have been derived from community discussion and general sentiment that aims to cater to the widest audience.

Vendor Strategy

The use of a strategy was purposefully left off this vote as there was a lack of positive support for utilizing this feature. Additionally, a strategy would only work with USDC.e, as there is currently no AAVE market for native USDC on Arbitrum.

Proposal

• Deploy a Vendor Finance V2 pool with the following loan terms:
• Deployment Network: Arbitrum One
• Collateral Token: $OHM
• Lend Token: $USDC*
• Lend Ratio: 9.5 (~90% LTV) (Lend Ratio of 90% being calculated at the time of the pools deployment)
• Deposit Amount: 5,000,000 USDC
• Due date: 6 months from pool deployment
• Term Rate Type: Decay**
• APR: 3.3%

Implement a demand based schedule for the deployment, starting with an initial deposit of $1M and an upper limit of $5M:

• $1M initial deposit (2x previous pilot deposit)
• Once $1M is borrowed and 1 month from deployment date has passed, increase to $2.5M
• Once $2.5M is borrowed and 2 months from deployment date have passed, increase to $5M

Note *: Olympus treasury team to acquire native USDC on Arbitrum for this deployment. Note **: Each borrower will borrow at a term rate that is annualized to the chosen APR.

Vote options:

Option A: Deploy pool

Option B: Do not deploy pool

Future actions:

For any deployed pools on Vendor a subsequent vote is to be held ~1 month prior to the due date with the following options to determine if it should be rolled over:

• Rollover with the same loan terms
• Rollover with different loan terms
• Do not rollover