OIP-176 – Engagement on Beradrome’s “Real Deal” Offer

Summary:

Beradrome has offered and earmarked a $500k portion of oBERA that is available for Olympus to receive as part of their “Real Deal” Berachain Launch Offer. We believe this will be a strong, capital efficient way for us to bootstrap liquidity into the newly formed OHM/HONEY pool, so we are requesting community approval to proceed.

Proposal:

Olympus will sign a “Real Deal” with Beradrome with the following terms:

• $500k OHM will be placed into a hedgey.finance vesting contract allowing the Beradrome MS to pull OHM based bribes (At our explicit direction) to be applied to the OHM/HONEY Pool on a weekly epoch
• $500k of oBERA will be burnt into the Olympus Operational Multisig (0xe22b2d431838528BcaD52d11C4744EfCdc907a1c)

Each Epoch (One Week), Olympus will both bribe and vote for the OHM/HONEY Pool. The bribe amount will be between $0 and $50k per epoch, some of which would be returned to Olympus as a function of voting for the pool.

The Beradrome rewards per epoch will then be liquidated, the proceeds of which will return to the TRSRY and fed back into YRF.

The full stack would be:

• OHM/HONEY CL LP on Kodiak
• OHM/HONEY LP Staked into Infrared (Earning Swap Fees, iBGT Rewards, BERO Rewards)
• $0-$50k in OHM Based Bribes towards OHM/HONEY front loaded towards the earliest Epochs (Voters get these $OHM rewards.)
• $500k of Olympus oBERA Power votes for OHM/HONEY (Since Olympus is a voter, it gets some of its bribe back.)

Once the $500k Bribe commitment is complete, we would continue voting and farming our Pools.

This will look, smell and feel very much like our previous engagement with Balancer and AURA, just at the launch of Beradrome when voting power is at its lowest (And thus power is at it's highest). As such, we will, at the very least, seek to largely cover our costs while bootstrapping liquidity into the pool.