OIP-41 - Olympus Incubator

For Background - Motivation and other information concerning this proposal please see the forum post and discussion: https://forum.olympusdao.finance/d/278-oip-41-launch-olympus-incubator-program

Proposal Approve Olympus Incubator program for a trial period of 90 days with a budget of $3.5 million from DAO reserved OHM. The program will be overseen by a committee of 7 DAO contributors known in the community. These contributors have been involved in setting up the program they are:

JaLa Glueeater Tex Wollemipine Indigo Unbanksy Mark11

As a part of the proposal, the program committee seeks authority from the community for a separate budget of $3.5 million from DAO reserved OHM - to be dispersed using current multisig signers managing DAO funds to: -distribute a maximum of up to $250K in DAO reserved OHM per an incubated project as directed by the program committee from time to time, over the life of an incubation.

In addition, up to 10% of the program budget may be dispersed to: -DAO contributors (including committee members other than for participating in approval meetings) for work in administering the program -DAO contributors for work in providing advice & assistance to incubated protocols.

Unused funds will be returned to the DAO OHM pool should the program not continue.

At the end of the 90 days, the program committee will provide a report concerning the program - including recommendations on further measures to include the community in the selection of projects moving forward and any other relevant improvements that could be made to the program.

After receiving feedback from the community, the program committee will propose the parameters for an ongoing program and then proceed to a governance vote. During this process, the program committee and DAO will continue to be able to onboard projects and work with projects already onboarded - as long as it remains within the approved $3.5 million expenditure cap.

The primary considerations of the committee for approval of a project will include: -Prospects of success of the project including development to date -Value derived to OHM holders through utility or integration of OHM or other Olympus products -Qualifications, experience and reputation of the founders/team -Resources required of the DAO compared to the in-principle terms-of-agreement for the project to be included in the program

Secondary considerations will include: -Connection to, and reputation in, the Olympus community of the founders/team

The program will provide the following:

Capital Allow the DAO to distribute a maximum of up to $250K in OHM per an incubated project over the life of the incubation from the DAO reserved OHM.

Distribution Exposure and coverage in our social media and discord servers.

Go-to-Market Expertise
Recruitment assistance from our Olympus community network of DeFi natives Advice and assistance when required from highly skilled Olympus DAO members - with expenses covered by Olympus DAO - including community building, content creation, marketing, front-end and backend assistance, advice and review.

End-to-End Liquidity Needs Priority access - with reduced or waived fees - to our upcoming launch and liquidity products.

Terms The incubated protocol will provide a percentage of their governance token - as negotiated by the DAO contributors and approved by the program committee.

For an example process for onboarding a project to the program (see forum proposal for this example https://forum.olympusdao.finance/d/278-oip-41-launch-olympus-incubator-program)

The committee requires a community AMA and high-level disclosure of the terms of agreement with an incubated protocol - at the earliest available opportunity - taking into account the interest of the incubated protocol's success. This will often be at the initial time the incubation is approved by the program committee.

Projects approved by the committee will be optimistically accepted into the program - with the caveat that at any time any member of the community may introduce an OIP to remove a protocol from the program if they believe it is in the community's best interests to do so.

Vote Yes - approve Olympus Incubator

No - do not approve Olympus Incubator