Decentralized Frontends RFC moves to OIP, Cooler Loans nears 100m DAI borrowed, and more!
Decentralized Frontends RFC moves to OIP, Cooler Loans nears 100m DAI borrowed, and more!
The Decentralized Frontends Request for Comment (RFC) has been moved to OIP as OIP-150: Decentralized Frontends for Olympus. Cooler Loans has reached nearly 100 million DAI borrowed, with borrowers enjoying zero liquidation risk, 95% LTV of liquid backing, half percent borrow rate, prepaid extended loans, and growing liquid backing of their collateral. The RFC Introducing Parthenon: Olympus On Chain Governance is still collecting comments. The Olympus web app user interface has been live for 2 weeks. The community is encouraged to participate in governance and explore the econOHMy.
RBS 1.4 goes live, new user interface on the Olympus web app, and more! 🧵/👇
A new Request for Comment proposing decentralized frontends, a new Discord bot you may implement to monitor your Cooler Loans, and more! 🧵/👇
Decentralized Frontends RFC moves to OIP, Cooler Loans nears 100m DAI borrowed, and more! 🧵/👇
🗺️Roadmap Review Olympus is currently in the 3rd phase of its journey to becoming community-owned smart money. Ω/👇
Olympus sees expanded 3rd party liquidity on Arbitrum, Disney plans for consumer-facing NFTs, an XRP ETF fakeout and more 📰 Brush up on last week’s headlines so you’re ready for this week! 🗞️/ 👇
$OHM backing sees $200k boost in past week, DOJ detains SafeMoon founders, SBF trial reaches a verdict and more 📰 Brush up on last week’s headlines so you’re ready for this week! 🗞️/ 👇
📑 Request for Comment: Decentralized Frontends for Olympus is collecting feedback! Please leave your comments on the forum👇 forum.olympusdao.finance/d/4071-rfc-dec… Summary 👇 Purpose: To discuss the potential for decentralized front-ends for Olympus and gather community feedback. Need for
Olympus released 5th batch of 18M DAI for Cooler Loans, Reddit discontinues ETH-based points due to regulatory concerns, Uniswap front end starts charging fees and more 📰 Brush up on last week’s headlines, so you’re ready for this week! 🗞️/ 👇
Decentralized frontends RFC, 3rd party $gOHM liquidity seeded on Arbitrum, and more! 🧵/👇
Cooler Loans reach an equilibrium on the week, remaining treasury DAI is deposited into DSR, and more! 🧵/👇
🗳️ The Decentralized Frontends RFC has moved to OIP as OIP-150: Decentralized Frontends for Olympus. Please review the updated proposal and leave your comments 👇 forum.olympusdao.finance/d/4077-oip-150…
📑 Request for Comment: Decentralized Frontends for Olympus is collecting feedback! Please leave your comments on the forum👇 forum.olympusdao.finance/d/4071-rfc-dec… Summary 👇 Purpose: To discuss the potential for decentralized front-ends for Olympus and gather community feedback. Need for
Olympus Becomes Largest Briber on Berachain with 6,900 OHM BGT Incentive
Olympus has established itself as the dominant briber on Berachain, launching a BGT Incentive Bribe of 6,900 OHM. This follows their strategic deployment on Berachain which included: - Launch of multiple specialized multisigs - Deployment of Olympus V3 Stack with OHM Bridge via LayerZero - Transfer of 250k OHM and $2M in stables for OHM/HONEY liquidity on KodiakFi - Acquisition of 1% (5M) BERA supply for staking in Infrared Finance and Honeyjar LSTs The protocol has also reactivated its Yield Repurchase Facility on Mainnet, now operating perpetually under OIP-174 to buy back and retire OHM using treasury yield. [View BGT Incentive Details](https://hub.berachain.com/vaults/0x815596fa7c4d983d1ca5304e5b48978424c1b448/)
Olympus DAO Expands to Berachain, Relaunches YRF
Olympus DAO has expanded to Berachain with several key developments: - Deployed Olympus V3 Stack with OHM Bridge via LayerZero - Transferred 250k OHM and $2M in stables for OHM/HONEY liquidity on KodiakFi - Secured 1% (5M) BERA supply for staking in InfraredFinance and HoneyJar LSTs The Yield Repurchase Facility (YRF) has been reactivated on mainnet with OIP-174 support. This mechanism uses treasury yield from Sky Savings Rate and Cooler Loan interest to buy back and retire OHM supply continuously.
Olympus Launches Two New Systems: YRF and Emissions Manager
Olympus has activated two new systems following OIP-168 & 171: - **Yield Repurchase Facility (YRF)**: Evaluates protocol yield and Cooler Loans interest weekly. Creates bond markets via Axis Finance to bid OHM for USDS, with OHM redeemed at 11.33 USDS daily. - **Emissions Manager (EM)**: Controls OHM emission rate based on: 1. Premium to backing above OCG variable (100% at launch) 2. Circulating supply ratio (0.0002 at launch) RBS has been temporarily deactivated to prevent system overlap. Community recently approved YRF continuation for three months.
OIP-163: The Framework Update
OIP-163, known as The Framework, has been successfully implemented since August 13. Key highlights: - Treasury DSR yield used to repurchase OHM - 490k DAI (6 weeks yield) funded the program - ~125k OHM acquired using DAI and Cooler loans - Net increase of 87 ETH (~$220k) in Protocol Owned Liquidity (POL) - Program currently profitable by $140k-$360k - ~0.8% of circulating supply retired - 10% (in ETH) added to OHM/ETH LP The Framework has proven to be a capital-efficient method to shift reserves to liquidity without reducing backing. Next week's focus: OIP-165 - The Framework Yield Repurchase Facility (YRF), an improved process in partnership with @axis_fi Bond Markets. This update demonstrates Olympus DAO's ongoing efforts to optimize treasury management and enhance protocol value.
Olympus DAO Community Announcement
The Olympus DAO community advises using the Olympus native bridge when moving $OHM to Arbitrum. The official Arbitrum bridge mints an illiquid version of OHM and can take 7 days to retrieve back to the mainnet. The address for Arbitrum $OHM is 0xf0cb2dc0db5e6c66B9a70Ac27B06b878da017028.