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OlympusDAOOlympusDAOby0xB936Ab7902A5d8083915c03f60eb0033678dA8150xB936…A815

OIP-110: Add BAL & AURA tokens to the strategic assets whitelist

Voting ended over 3 years agoSucceeded

Summary: Whitelist BAL & Aura tokens as strategic assets to be acquired by OlympusDAO to gain influence over the Balancer ecosystem.

Motivation: As outlined by OIP-103, Olympus aims to use Balancer as its main liquidity hub in the near future. Acquiring governance power in that ecosystem would allow OlympusDAO to:

Participate in & Influence key Balancer governance decisions

Incentivize external protocols to pair with OHM

Generate additional returns on POL

With Mint & Sync ready to be turned on and Olympus Flex about to launch, OlympusDAO is actively looking for ways to offer the most attractive package to protocols looking to establish liquidity for their token and Policy believes that the ability to control and direct $BAL emissions is another great tool to have in the toolbox.

Strategic Focus

After multiple months of discussing and collaborating with the Balancer team, OlympusDAO is confident that the Balancer DEX will keep innovating on the DEX front and continue shipping new features that will appeal to many protocols in the space.

Today, 145,000 $BAL tokens are emitted weekly, of which, 90% are allocated to the various liquidity pools within Balancer. This represents $47M worth of incentives to be distributed to liquidity providers annually and which are currently being governed by veBAL/Aura holders.

Governance power in the balancer ecosystem can be acquired through multiple different tokens, however Policy proposes to only focus on $BAL and $AURA as means of governance acquisition. Given that Treasury wants to maximize veBAL controlled/ $ spent, it should be agnostic and acquire the most efficient token.

Proposal:

Olympus to acquire governance power through $BAL (veBAL) and/or $AURA

Tokens to be acquired through direct market buys and/or Bribes and/or POL farming

Off-Chain Vote

Whitelist $BAL & $AURA
235.88K OHM99.9%
Do not whitelist $BAL & $AURA
332.91 OHM0.1%
Download mobile app to vote

Discussion

OlympusDAOOIP-110: Add BAL & AURA tokens to the strategic assets whitelist

Timeline

Aug 18, 2022Proposal created
Aug 18, 2022Proposal vote started
Aug 22, 2022Proposal vote ended
Oct 26, 2023Proposal updated