OIP-73: Treasury Framework

Summary:

Adopt a framework distinguishing (1) key treasury decisions and guidelines that require a community vote from (2) operational levers that the treasury team uses to implement community decisions, in which case the treasury team should act with autonomy.

Motivation:

Olympus is a community-run DAO in which key decisions affecting the protocol are made by the community. The treasury team implements the community’s decisions through a number of tools, the effective use of which often requires both speed and technical knowledge.

On the one hand, it is critical that the community is broadly aligned on key decisions. On the other hand, we believe it would be a mistake to require constant community votes on more technical questions, particularly when these technical questions arise in implementing decisions the community has already made.

Framework Proposal:

We propose adopting the table linked as a general framework to clarify when the treasury team should take action to implement community decisions, and when it must seek specific authorization.

Because it is difficult to predict in advance every technical treasury issue that may arise, the following list is not intended to be exhaustive. Rather, it should serve as a living document to help everyone in the community understand how decisions are made.

Proposed Guidelines & Allocations limits

Treasury is also proposing the following guidelines & allocations to the community. Those have been drafted using the Treasury framework presented above as a baseline.

Link to allocation & treasury framework table: https://forum.olympusdao.finance/d/1003-oip-73-treasury-framework

This table will supersede the framework presented in OIP-54. Note that ETH constitutes a reserve asset and will also be subject to the applicable guidelines. Lastly, while it is not always clear whether an asset is centralized or not, we believe that the strategies targeted by the Treasury team should make that criterion unambiguous. As an example, any treasury asset mixed with 3crv token (USDC,DAI,USDT) would be subject to that allocation limit.

Poll: Approve the Treasury framework & the guidelines and allocation limits proposed

Option 1: Yes Option 2: Approve the framework only Option 3: Do not approve