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Origin DeFiOrigin DeFiby0x42aaBD3A2f2b64A44B99e0ab025657ba73B871a20x42aa…71a2

Convert idle OGN funds to CVX to boost OUSD yield?

Voting ended almost 3 years agoSucceeded

Currently, 938,706 OGN are sitting in the old buyback contract, worth around $115k at the time of writing.

Old buyback contract: https://etherscan.io/address/0x77314EB392b2be47C014cde0706908b3307Ad6a9

The aim of this proposal is to jumpstart our voting power accumulation plan and convert these idle funds into CVX to have them work for the protocol and boost OUSD yield.

Supplementing the previously passed proposal on actively accumulating governance tokens at https://vote.ousd.com/#/proposal/0x8358edc685eeb7c76ad4a7c0688622547b6888a152dda319e8ce424652fc739f, it would be at the Strategist’s discretion to manage these funds accordingly to ensure optimal yield and risk/return profile.

Risks: Owning idle funds allows for a degree of insurance in the event of a compromised strategy/token. Vote-locked tokens could still be used in a similar manner, but would be constrained by the lock duration before being available as backing (16 weeks in the case of vlCVX).

Off-Chain Vote

Yes, convert OGN to CVX
148.78M veOGV83.3%
No, keep as is
29.88M veOGV16.7%
Quorum:357%
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Timeline

Apr 04, 2023Proposal created
Apr 04, 2023Proposal vote started
Apr 06, 2023Proposal vote ended
Oct 26, 2023Proposal updated