Alchemix x OlympusDAO Partnership: alUSD-3crv Bonds

RogueItachi

I love this idea. I think it's a great synergy between two awesome protocols. We pay a lot in ALCX to keep that 3 Curve Pool highly liquid and stable. If Olympus is able to bond enough LP and create a strong floor of liquidity, that would be super valuable. In the future, we could shift those rewards to new vaults like the alETH/ETH. The benefits well outweigh the risks on this one in my opinion. And if this is successful, it could be done with future curve pools like alETH/ETH and alBTC/BTC which would increase the diversity, fees, and rewards of Olympus' DAO and lock up a lot of liquidity for us.

Great proposal Ja.

ButlerAndTheThirdStringers

I love this idea and echo everything said by JaLa and RogueItachi. This would be a beautiful symbiotic relationship between OHM and The only risk I could imagine is that if the OHM treasury were to buy the majority of LP tokens we may become dependent on the success of OHM in not needing to ever liquidate it’s treasury assets. Despite that, I agree with @RogueItachi that the benefits greatly outweigh that, both in terms of the flexibility it gives us in directing emission allocations, but also in providing a safe floor of liquidity for the Curve pool.

My questions would be:

Is there any way to actively monitor the bonding price to be able to easily determine when that discount is present?
Considering how beneficial this would be for Alchemix, is it worth adding an indicator somewhere in the UI with a link to purhase OHM using LP tokens?

jacobs

Come Bullish

Dbuck

A very sound proposal, I'm looking forward to hearing what the core team and big brains have to say.

JaLa

ButlerAndTheThirdStringers the discount is displayed on the olympus site and I think it can be displayed on a discord bot.

I had the same thought about the link. A zap into bonds would be really cool but I leave that to the devs.

senor

What keeps Olympus from selling the ALCX tokens it earns from LP? And, pending clarity, would these same assumptions hold if applied to other asset classes alETH etc as indicated at the end of the proposal.

hopepope

senor Olympus wants to grow their treasury to have multiple assets backing ohm and they also want numerous partnerships across DeFi. They already have Sushi in their treasury and want to further integrate with Rari, Frax, Alchemix etc. Selling ALCX tokens would be counter-productive for their goals of integration and using their "treasury as a service" to create a new type of DeFi primitive: fractional reserve central banking for DeFi. It's in their long term interest to become a trusted space to lock up tokens.

boyeatzworld

Nothing of substance to add here beyond I love this idea. Great work Ja.

elchadez

LFG

Snow

I don't have much to add to this conversation but I wanted to express how interesting and ingenious of an idea I think this is.

xh3b4sd

Coming from Mount Olympus I want to express my gratitude and support for this proposal. Feel free to reach out for any OlympusDAO related questions. Thank you JaLa for the great work so far. LFG

chillsauce1

vibes

jerre

Love this proposal @JaLa ! Thanks!
Super interesting idea! The only risk I see for ALCX is when something goes wrong with OHM to when olympus decides to sell for whatever reason. However, we're in a free market, so it is impossible to avoid all such behaviour.

The advantages greatly outweigh the risk IMO.
Very curious to see how this evolves!

scoopy

LFG