Olympus DAO

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.

Range Bound Stability (RBS) is buying and selling $OHM to maintain a range within Olympus DAO.

On February 23, it was reported that @ohmzeus's account was compromised. It is advised to be cautious as there is no airdrop associated with this incident.

Olympus DAO reaffirms that deposited funds are safe, with only three markets affected and the majority already refunded. Validator payment loss amount is 91 ETH, efforts to fully repay users are ongoing, and the protocol is currently paused.