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OlympusDAOOlympusDAOby0x5Ce7D83f7Aaac17a0Ad40540B37fC7a0b688FF440x5Ce7…FF44

OIP 24: Add LUSD to the Treasury

Voting ended over 4 years agoSucceeded

Summary

Introduce LUSD as the next stable reserve asset in the form of reserve bonds and an OHM-LUSD pool on Sushi.

Additional context, explanation and discussion of this proposal can be found on the forum: https://forum.olympusdao.finance/d/100-oip-24-add-lusd-to-the-treasury

Proposal

  • Introduce LUSD reserve bonds to diversify the treasury and hedge against centralized stablecoin risks. Upper limit of 5% of circulating supply.
  • Deploy incentives in the form of $5k worth of LQTY per day (already secured via discussions with Liquity) and $5k worth of OHM per day to an OHM-LUSD pool on Sushi. Incentives will run for 35 days to bootstrap the pool.
  • Introduce OHM-LUSD bonds to accumulate ownership of the incentivized liquidity pool

Vote

For: Add LUSD to the Treasury via reserve and liquidity bonds Against: Don't add LUSD to the Treasury

Off-Chain Vote

For: Add LUSD to the Treasury
92.45K 98.2%
Against: Don't add LUSD
1.7K 1.8%
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Timeline

Sep 13, 2021Proposal created
Sep 13, 2021Proposal vote started
Sep 16, 2021Proposal vote ended
Oct 26, 2023Proposal updated