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OlympusDAOOlympusDAOby0x2E34c96c51cFf6F5bEA0CCCF0c886902843b5EdA0x2E34…5EdA

OIP-15: Add ETH to the Treasury

Voting ended over 4 years agoSucceeded

Introduce ETH bonds as a way of accumulating ETH for the Treasury, which we see as the logical next step towards our goal of becoming a decentralized currency.

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

Important Notes -ETH 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 ETH in the treasury. If this proposal passes, you can visualize the new backing of OHM as 1 OHM = $1 + 0.xx ETH (+ a fraction of any other asset we hold in the Treasury)

Additional context, explanation and discussion of this proposal can be found on the forum:

https://forum.olympusdao.finance/d/67-oip-15-add-eth-to-the-treasury

Off-Chain Vote

For: Add ETH to our Treasury
118.83K 99.6%
Against: Don’t add ETH
484.05 0.4%
Download mobile app to vote

Timeline

Jul 27, 2021Proposal created
Jul 27, 2021Proposal vote started
Jul 30, 2021Proposal vote ended
Oct 26, 2023Proposal updated