Direction of TAO

With the recent surge of OHM forks there has been a reignited interest to relaunch TAO.

This proposal is to vote to Relaunch the Ohm Fork but maintain the Defi Dao as potentially separate projects

Regardless of what happens, the team is invested and focused on the Defi Dao. A relaunch of an OHM fork would require some community members to step up for managing the community. This is not an easy task. Essentially if the community decides to relaunch TAODAO as an OHM fork, the team will help with the initial fork, but future development and management would not be a focus for the current team.

Voting For would be to relaunch the ohm mechanisms, against would be to maintain only the Defi DAO. A Quorum of 30% is required for a passing vote.

Discussions thus far have been on discord.

Arguments for it are the following:

• A lot of demand for OHM Forks
• Original TAO launch was around poor market conditions and too early in hindsight

Arguments against:

• OHM forks are highly saturated and not guaranteed to succeed
• Decision to relaunch may be driven by short-term thinking over long term sustainability
• High APY is dependent on bonding inflows, and relaunching is betting on new bonders to sustain staking rebases

Summary of TAO as a Defi DAO Development has been delayed due to a variety of issues, primarily delayed Dopex Deployment on mainnet has halted our development for FUSION our fund manager product. It is unlikely to be launched this year accounting for development time, audits and testnet.

During the last few weeks we have been working on something separate, FLUX. Full details will be released when we are ready to launch, this will be before the end of this year. FLUX is a fork of an existing project on ETH which provides a service to protocols for a flat fee. The current version is slow to onboard new protocols as it is not permissionless, FLUX would be a permissionless version. We are currently working on the front-end and UX which will be vital to its success.

What Chain are we Launching? We are chain agnostic, and should keep this flexible, launching where may be most beneficial. (must be EVM)

What happens to Lock? The 4x lock boost is incompatible with the OHM fork to be released as a vest. Rather instead we would split the allocation. Base Tao holdings whether it is sTao, locked-sTao or normal Tao would remain with the OHM fork with a new token, the boost either distributed with a stake of the new FLUX/FUSION Defi-DAO or to convert it into pTAO for the ohm fork. People to decide one or the other. Relaunching would also be with a vesting for all holders to avoid a sudden supply shock with the locked TAO. The details we can discuss further below or depending on the outcome of this vote. E.g Linear Vesting.

What happens to pTAO? Current pTAO would not be migrated to an ohm Fork, but still will be migrated for the Defi-DAO. Any new pTAO for the fork will be for the DAO or for boosters.

Two Tokens? The simplest way is to separate the two projects with separate tokens, however suggestions have been made to wait on this decision pending the success of a relaunched ohm fork.