(OGP 17) - Support Chainlink Node Operators to Enable Experimentation with Exotic Feeds

Title: (OGP 17) - Support Chainlink Node Operators to Enable Experimentation with Exotic Feeds

Author: @mertioi | twitter.com/mertioi

Sentence Summary: This governance proposal requests LINK tokens from the DAO (100 LINK for the beginning and in total 1000 LINK if more is needed) to pay for the operation of Chainlink node operators to experiment with exotic feeds for future market launches.

Security Risks: There's no security risk.

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Introduction: Overlay Protocol is aiming to attract a variety of users and provide them with access to exotic markets. However, to further expand the market offerings, Overlay Protocol needs to experiment with new data feeds that can offer unique ones to users. The current data feeds are limited to a few select offerings, which can be a disadvantage for the protocol's growth.

Body: The proposal aims to experiment with exotic feeds on the Overlay Protocol by paying Chainlink node operators, such as Translucent. These node operators will help obtain data from obscure sources that are not widely available to the public. By accessing these feeds, the Overlay Protocol will be able to create unique markets that offer users access to new financial instruments and trading opportunities. To begin this experimentation, the proposal requests 1000 LINK tokens from the DAO. These tokens will be used to pay Chainlink node operators to obtain and provide the required data feeds for market creation. This amount will be used as an initial investment for the experimentation phase, and if successful, additional funding will be sought through future governance proposals.

Proposed Cost: The proposed cost for this experiment is up to 1000 LINK tokens (~ USD 7200). Initially 100 LINK token will be bought, and later, if needed, the amount can be topped up as max. 1000. This amount will be used to pay for the Chainlink node operators to provide the required data feeds.

Security Risks: There are no significant security risks associated with this proposal. The funds will be used to pay Chainlink node operators for their services, and their identities will be verified before engaging them.

Conclusion: In conclusion, Overlay Protocol needs to experiment with exotic feeds to expand the market offerings and attract a wider range of users. This governance proposal requests up to 1000 LINK tokens from the DAO to pay for the operation of Chainlink node operators to obtain data feeds from obscure sources. This initial investment will allow the Overlay Protocol to experiment with new financial instruments and trading opportunities. Once the experimentation phase is successful, the DAO can then decide on a separate proposal to launch markets based on these new feeds.