Olympus DAO

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 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 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, 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.

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.

Olympus DAO has reported a significant increase in backing for $OHM and $pOHM, now growing at three times the previous rate. Additionally, 74 million $sDAI has been allocated for the project.

The Olympus treasury currently holds 74M $DAI in the DSR, accessible to $gOHM holders via Cooler Loans. The $DAI supports Range Bound Stability and earns 15% APY. $OHM is backed by this $DAI, making it #smartmoney. Join the Discord for more information.

Olympus DAO has chosen pOHM as the pairing for pbaoUSD due to its frequent price changes within set limits, which help minimize impermanent loss and maximize fees. This selection aims to create a perfect partnership for a new high-yield flywheel, where more fees lead to more rewards, liquidity, and ultimately, more fees.

The 2024 Budget Proposal and Funding Request are live on Snapshot. An offer for Security and Risk Detection and Prevention from Hypernative is on the forums. Additionally, a proposal for Q2 FY24 Layer 2 POL / Liquidity Plans on Arbitrum is under discussion.

OlympusDAO has introduced a new unique DeFi volatility primitive called $ODIN, in collaboration with Peapods Finance. This primitive leverages the power of OlympusDAO to farm volatility from odins liquidity network comprising of 10 LPs, all of which are burned. The $pOHM / $pODIN pair is now live, inviting users to join them in Valhalla.