OIP 131: Boosted Liquidity Engine as a Key Project for 2023

Summary

Designate the “Boosted Liquidity Engine (fka Liquidity AMO) project as a “pillar project” to be included in the bonus program as described in OIP-128.

Motivation

The Boosted Liquidity Engine (BLE) leverages Olympus’ competitive advantages (monetary policy flexibility and treasury strength) to mint OHM into liquidity pools with select high quality assets. LPs bring an asset (e.g., stablecoin, LSD) into newly developed vaults and the Olympus treasury mints OHM in equal value (for 50/50 pools) to match and create a complete LP position. LPs benefit from boosted liquidity mining opportunities and partner protocols are able to more efficiently drive liquidity mining programs and deepen supplemental liquidity for their tokens. Olympus benefits from LPs providing counterasset liquidity, enhancing OHM’s liquidity depth, which enables greater utility and stability. Furthermore, the BLE can be a powerful tool for partnerships. BLE is not intended to be utilized for any and all assets but rather select high-quality assets with which an OHM pairing would be beneficial.

Project Scope

The BLE project has required resources spanning the entire DAO: policy and treasury, partnerships, smart contracts, design, front end, marketing.

The full scope of the BLE project is as follows:

-Development of novel smart contracts (vault to accept LP deposits, rewards logic, oracles) -Smart contract audit(s) -Development of new front end for deposits and position management -Development of marketing and educational material -Engagement of launch partners -Documentation

Not included in scope but potential for future iterations:

-Cross-chain implementation -Other oracle integrations

Note that while some of these elements listed above are close to completion, they were developed during January-February 2023 and so fall within the scope of OIP-128’s bonus program.

Deadline

The deadline for completion of the BLE project per the above scope is April 1, 2023. As of this writing, outstanding items include completion of front end, Uni-v3 oracle, educational materials and documentation.

Bonus

The bonus allocated for the successful and timely completion of this project is 20% of the total bonus pool.