by 0x76fb13f00cdbdd5eac8e2664cf14be791af87cb0 (Matimio)
This is a Pre-Proposal Poll to gauge community sentiments and determine if there is enough support to move forward with a detailed Draft Proposal. Should this proposal receive 500K in VP, it will be resubmitted as a Draft Proposal.
Question: Should Decentraland DAO participate in the Olympus Pro program? Through Olympus Pro, Decentraland can diversify the treasury, accrue liquidity for key liquidity pairs, and create new revenue streams for the DAO.
Abstract: Olympus Pro is a bonding service which allows partner protocols to acquire liquidity on token pairs (e.g. MANA-ETH) while offering users discounted tokens in return. Olympus Pro has helped over 24 protocols amass over 16M worth of liquidity. One of the primary benefits of the Olympus Pro program is that it can create a new revenue stream for the DAO, by owning MANA-ETH liquidity and starting to capture the trading fees. At the time when this proposal was written, the 24 hour volume on the MANA-ETH pair was $4 million dollars, the DAO sees none of those fees.
Olympus Pro is the partnership program of Olympus DAO. More information on Olympus DAO and the Olympus Pro program can be found at the following links:
For: Promote poll to create a partnership with Olympus Pro to Draft Proposal Stage
Against: Do not promote poll to create a partnership with Olympus Pro to Draft Proposal stage
Hi Everyone! I would be very interested to here feedback from people on this Pre-Proposal, and why you are voting the way you are. I think this is a very interesting opportunity, and I personally am a fan of Olympus DAO. I voted yes on this proposal, because I think it is very much worth exploring more, and assessing if a liquidity partnership with Olympus DAO is in the best interests of Decentraland.
Because of the recently passed staged proposal framework, a yes vote at this stage only means you support further exploration of this issue and possible participation in the Olympus Pro partnership program. It does not mean the DAO will join the program.
I’ll vote yes in this poll because I also think the idea is worth exploring more. It’s probably not a bad idea if we as a DAO can easily enable the capture of some of the trading fees on that daily volume of ~$4m. Obviously the amount of MANA/ETH that gets traded will vary, but it sounds significant and could likely at least cover some of the grants that the DAO approves.
As we consider the idea, I would just say that the DAO is not super nimble in terms of making decisions quickly and decisively, so it might be best to simply commit to that MANA/ETH pair and keep it simple - in other words, not make plans to rebalance very often in ways that would require a clear consensus from the DAO.
Ok, that’s it, I’ll be interested to see how the community feels about this one.