Olympus DAO

Olympus encourages the community to prepare for Decentralized Frontends, inspired by LiquityProtocol's model, to enhance decentralization and adapt to DeFi regulations. Steps include understanding the framework, acquiring smart contract familiarity, prioritizing user safety, investigating revenue models, understanding kickback rate dynamics, and utilizing the upcoming SDK. For questions and collaboration opportunities, the Olympus Discord community is recommended.

In the latest news from Olympus DAO community, Cooler Loans has reached over $100 million in borrows. The new automated $OHM v3 vault, provided by Mellow Protocol, has reached a total value locked (TVL) of approximately $150,000. Additionally, OIP-150, which proposes decentralized frontends for Olympus, has passed with an overwhelming majority vote. The Olympus frontend was unaffected by the recent security incident regarding Ledger. In a community-hosted space, discussions were held on liquidity rails and the set-it-and-forget-it, concentrated, automated $OHM - $USDC v3 strategy. Overall participation in governance is appreciated and encouraged.

Mellow Protocol has introduced a new auto-rebalancing, narrow-band v3 strategy for providing liquidity in the OHM-USDC pool on Olympus DAO.

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.

The Decentralized Frontends RFC has been moved to OIP-150: Decentralized Frontends for Olympus. The community is asked to review the updated proposal and leave comments.

Olympus DAO has issued a safety reminder, stating that there are no airdrops from the DAO. Users are advised to be cautious of malicious links in comment sections or impersonating accounts on Discord.

The latest Olympus DAO update, RBS 1.4, is now live. It brings incentivized contract calls for users to earn $OHM. The update also introduces asymmetric spreads, providing flexibility in adjusting the spread of cushions and walls. A new contract, heart.sol, has been deployed for RBS to make observations about OHM price, spreads, and other important data. Users can call this function every eight hours to earn $OHM through an SDA auction. The auction rewards increase in OHM with a maximum cap of 40 OHM. Rational actors are encouraged to call the function when the reward outweighs the gas cost. The contract details can be found for reference. Good luck to all participants!

The Olympus DAO community is encouraging members to vote for adding Cooler Loans tracking to PulsarFinance.