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OlympusDAOOlympusDAOby0xA0c7Dac5632500d54B2e90B99840D9f33b7CE5210xA0c7…E521

OIP-16: Add BTC to the Treasury

Voting ended over 4 years agoSucceeded

Introduce BTC bonds as a way of accumulating BTC for the Treasury, which can be best understood as a strong next step towards a goal of becoming a decentralised currency.

Proposal -Add a new bond type - BTC bonds -Target 5% of Treasury risk free value (RFV) -Example: If Treasury RFV is 19 million, we would aim to accumulate $950,000 of BTC -Aim to reach this target over a period of 45-60 days (bonds are not exact science, so we define a range)

Important Notes -BTC would be assigned a risk free value of 0, meaning we wouldn’t mint against it -OHM will no longer be backed by just 1 unit of risk free value ($1), but also by the proportional amount of BTC in the treasury. If this proposal passes, you can visualise the new backing of OHM as 1 OHM = $1 + 0.xx BTC (+ a fraction of any other asset we hold in the Treasury)

Off-Chain Vote

Add BTC to the treasury
2.64K 10.3%
Do not add BTC to the treasury
23.02K 89.7%
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Timeline

Jul 28, 2021Proposal created
Jul 28, 2021Proposal vote started
Jul 31, 2021Proposal vote ended
Oct 26, 2023Proposal updated