OIP-124 - Fund Olympus Association

Summary

On October 31, 2022 Olympus Association was formed in Zug, Switzerland. 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 fund the newly created structure so that it may execute the budget approved by the Olympus DAO community.

The formation of the Olympus Association is an important step towards providing contributors a formal structure to coordinate work, compensations, and establish relations with other organizations and contractors in order to fulfill the Olympus Protocol vision. The Olympus Association will provide its members the necessary legal representation to increase efficiency and efficacy. Importantly, this OIP does not change or increase the overall budget. The existing budget already approved in OIP-102 still applies. It’s simply a matter of providing operational funds to the right entity.

• Olympus Association -> OHM for operational expenses and contributor pay

• Olympus DAO wallet -> Non-reserve assets and OHM for DAO swaps / non-operational expenses

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 expenses for Oct - Dec 2022, for a total of 750,000 DAI in OHM.