OOP-3 Funding Request for 2024 Budget

Summary

After five successful quarters running the management of the DAO over the Olympus Association, we propose to fund the association with 1,429,000 DAI in OHM for the expenses of 2024, according to the Budget set in OIP-155. The Association is an independent non-profit organization without any commercial purpose. The main goals are to research, develop, operate, and maintain Olympus, while developing Olympus Ecosystem and defending the interests of its members.

Motivation

The motivation for this proposal is to continue to fund the Olympus Association so that it may execute the budget approved by the Olympus DAO community.

The Olympus Association is important for providing contributors a formal structure to coordinate work, and compensations, and establish relations with other organizations and contractors in order to fulfill the Olympus Protocol vision. The Olympus Association provides its members the necessary legal representation to increase efficiency and efficacy. Importantly, this OIP does not change or increase the overall budget. The budget approved in OIP-155 applies, and the funding of the association is contingent on the successful passing of OIP-155 on snapshot.

Proposal

We seek authorization from the Olympus DAO Community to fund working capital based on the budgeting needs of Olympus Association. The current request is for covering 2024 expenses, for a total of 1,429,000 DAI in OHM. The DAO will execute quarterly funding to support the Association running costs, within the approved 2024 budget.