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OlympusDAOOlympusDAOby0x389b11C4fA4b95bCc252A2B20Bb62310Fbc36746abipup.eth

OIP-172: Disable RBS

Voting ended about 1 year agoSucceeded

Summary:

If the Emissions Manager, which controls reserve bonds above a minimum premium, is installed, deprecate the RBS system until a future time.

Background:

RBS was implemented in late 2022 as a structure to reduce volatility in the OHM market as it contracted and found equilibrium. This was a resounding success and significantly validated the module, as you can see here.

RBS has not done a trade in almost 3 months, and has only traded roughly $560k in the past 15 months. Thus, we can conclude that functionally its absence will not be noticed. However, it does have a significant psychological impact on market behavior, which I would consider beneficial to nullify should OHM return to a greater premium.

Proposal:

Disable the RBS system via the Timelock should the emissions manager be installed. If the emissions manager is not installed, RBS should remain in place. RBS can be reenabled in the same manner at a future time.

Snapshot note: the text from this proposal has been pasted from the General section of the forum. Also the Emissions Manager On-Chain Governance proposal passed. Therefore this proposal can move forward to a vote

Off-Chain Vote

Approve OIP-172
6.33M OHM100%
Reject OIP-172
0 OHM0%
Download mobile app to vote

Discussion

OlympusDAOOIP-172: Disable RBS

Timeline

Dec 03, 2024Proposal created
Dec 03, 2024Proposal vote started
Dec 06, 2024Proposal vote ended
Nov 12, 2025Proposal updated