OIP-91: Olympus Governance Council

Proposal

Establish an Olympus Governance Council (OGC), which is primarily responsible for facilitating off-chain processes. Examples of off-chain processes include establishing strategic vision, coordinating working groups to execute on community-approved initiatives, and proposing strategic initiatives to the community via OIP.

It is important to emphasize that the ultimate authority of the protocol and its functions are Olympus token holders. The OGC will exist in an advisory capacity and will prioritize on-chain governance to further decentralize the Olympus protocol.

Structure

The OGC will initially comprise 7 active members with distinct roles & diverse capabilities reflecting the broad experience and capabilities of OlympusDAO members.

OGC members may resign at any time by posting a notice of resignation that they will retire following the next meeting of the Council.

OGC members may be removed by unanimous Council decision where the member has failed to attend meetings occurring across two consecutive weeks without providing advance notice.

Vacancy resulting from removal or resignation of a Council member, shall be filled by decision of OGC pending expiry of the initial members’ term. Notice of a vacancy appointment must be posted to the Olympus governance forum within 1 week of appointment.

Any or all members of OGC may be removed or replaced by OIP.

Deliverables

Key deliverables for the OGC include:

• Drive prioritization and alignment across the DAO departments and working groups

• Chart a path to further decentralized DAO governance and operations

• Oversee the broader econOHMy

In addition, the OGC will be responsible for reviewing community OIPs and delivering a detailed assessment. Once OIPs are passed, OGC will track progress and provide input to working groups responsible for executing community decisions.

Every 3 months the OGC must prepare a quarterly report detailing the achievements, operations, revenues, and expenditures of the DAO for the previous quarter - along with a detailed description of the strategic direction for the DAO and how the Council plans to achieve that vision.

The Council must appear before the community to deliver the quarterly report and answer questions concerning its details.

Council has the ability to vote on and approve urgent budget items for internal DAO expenses including but not limited to: code audits, tooling costs, and contracted services. Expenses must be detailed in the quarterly OGC report.

Vote

For: Implement Olympus Governance Council Structure

Against: Do not implement OGC