Author(s): @TigrisOfGaul

Summary

This proposal seeks to allocate up to 250,000 TAROT from Tarot DAO to the Olympus Pro bonding program for protocol-owned liquidity.

Abstract

If adopted, this proposal allocates up to 250,000 TAROT from Tarot DAO to the Olympus Pro bonding program. The initial test drive with Olympus Pro will last for a period of 30-60 days with a maximum bonding capacity of 250,000 TAROT. The goal is to acquire even more protocol-owned liquidity in the form of FTM-TAROT Spirit LP.

Motivation

Tarot already has a significant amount of protocol-owned liquidity as a result of the Tarot LGE. This guarantees the availability of deep liquidity for TAROT and facilitates transactions with minimal price impact. Through the Olympus Pro bonding program, Tarot can continue to acquire more protocol-owned liquidity for itself.

A future proposal may seek to allocate a portion of emissions from the Tarot Farming Rewards program to Olympus Pro to continuously acquire additional protocol-owned liquidity.

Specification

If adopted, Tarot will begin its bonding program on the Olympus Pro platform.

Further Details

• Up to 250,000 TAROT will be allocated from Tarot DAO
• Users will be able to acquire TAROT at a discount by vesting FTM-TAROT Spirit LP tokens over a vesting period
• Bond discount is determined by the market
• At the end of the vesting period, the protocol would own the FTM-TAROT Spirit LP tokens
• Olympus Pro takes a 3.3% fee on LP tokens used for bonding
• Duration of the test drive: 30-60 days

About Olympus Pro

Olympus Pro is the new industry-standard platform to help protocols acquire their own liquidity. Protocols no longer need to pay out high incentives to rent liquidity, while also guaranteeing the permanence of liquidity to facilitate transactions.

Olympus Pro solves these liquidity problems by providing bonds-as-a-service for a small fee. Instead of staking their LP (liquidity provider) tokens for farming rewards, users can exchange their LP tokens for the protocol's governance tokens at a discounted rate. This is done through a process called Bonding.

You can learn more about Olympus Pro here:

• Website: https://www.olympusdao.finance/pro
• Docs: https://docs.olympusdao.finance/main/
• Twitter: https://twitter.com/OlympusDAO
• Discord: https://discord.com/invite/6QjjtUcfM4
• Medium: https://olympusdao.medium.com/