TAP-19 Deposit OHM-ETH & OHM-DAI POL into Aura Finance

Summary

This proposal seeks authority to deposit up to 100% of Protocol owned OHM-DAI and OHM-ETH BP tokens (currently worth about $66m) into Aura Protocol, which currently sits at over $380m TVL.

Motivation

Olympus DAO recently passed a proposal (TAP-17 https://snapshot.org/#/olympusdao.eth/proposal/0x5b06e73b9744a5f224d5ec0ac0e4b3411fdcb5eaa19040b4091a91bbc6c6d504) to acquire AURA for strategic purposes. One of the goals of that proposal was to farm rewards from the Protocol Owned Liquidity present on the Balancer protocol.

Olympus DAO has previously asked permission to pilot deposit POL into the Aura Protocol (see here: https://forum.olympusdao.finance/d/1323-tap-14-pilot-deposit-into-aura-finance/6) and the thesis on Aura has not changed since then. Aura contracts have remained solid (which makes sense since they’re a fork of Convex contracts: https://github.com/aurafinance/convex-platform). Aura Finance has proven to be a driving factor in the overall Balancer ecosystem and it makes sense for Olympus to take part in it.

Risk Assessment

Using a risk analysis framework developed by the DAO, the Policy team have attempted to score various protocols based on some subjective and non-subjective data.

Link to Risk assessment: https://docs.google.com/spreadsheets/d/1NivudWfWvrkKTdgX_Z2tgfrP6mH761C3O8vqkO4Zn14/edit?usp=sharing

Implementation

Implementation is simple and involves staking the two BPT’s in their respective Aura positions. Periodic gauge votes take place in the exact same way that our Convex gauge votes take place.