TAP-17 Aura Acquisition

Summary

Acquire $1M worth of AURA tokens over the next 6 months for strategic purposes and fund this with the sale of accrued Convex rewards and recently unlocked CVX.

Background

A few months ago, Olympus community had identified & whitelisted AURA & veBAL tokens as strategic assets for multiple reasons outlined in the referenced proposal (OIP-110). As some yet-to-be unveiled projects undertaken by the DAO are coming to fruition, gaining governance power over the Balancer ecosystem becomes one of the strategic priorities for the Olympus Treasury.

Motivation

As mentioned in the whitelist proposal, acquiring AURA tokens offers Olympus Treasury the flexibility to accomplish multiple different goals such as:

Drive third party liquidity to Olympus pools

Incentivize new Olympus liquidity products and partnerships

Voting for protocol-owned pools and farm rewards

Gain governance influence over the Balancer ecosystem

Execution

Olympus DAO is committing to buy the equivalent of $1M worth of AURA over the next 6 months.

The total acquisition would be funded through the Convex ecosystem rewards accumulated over the past few months ($300k) as well as the recently unlocked CVX. The remaining CVX position would then be relocked.

Voting

For: Acquire $1m AURA Against: Do Nothing