FIP 3,3: Allocate FEI to the Olympus Pool Party

FIP: 3,3

Status:

Stage 0 (Discussion)

Author:

GrantG

Proposal Steps:

  1. Olympus will whitelist FEI as an asset in the Olympus Pool Party fuse pool (pool 18), executed from their side.
  2. Supply 1,333,333 FEI From the PCV to the Olympus Pool Party Fuse pool on Rari.

Motivation:

FEI’s ability to provide liquidity to other projects for increased use in the DeFi ecosystem is a powerful tool for ensuring FEI’s growth. FEI aims to be THE stablecoin for DeFi, increasing adoption, spreading the good name of FEI, and taking positive action to benefit DeFi as a whole are all ways to accomplish this.

Ultimately I view the goals of FEI protocol as the following:

  • Become the most widely used stablecoin in DeFi.
  • Act as an elevator for other projects, and help them grow.
  • Utilize the PCV for positive community impact.

The Olympus fuse pool allows for users to lend their sOHM to borrow assets such as DAI, and then lever up on their sOHM positions from there. FEI Providing a large amount of liquidity, with a low interest rate would increase user adoption of FEI through these levering positions. This partnership would not only serve to increase FEI’s use across DeFi, but showcases FEI’s ability to support projects as well. Olympus has shown itself to be a community powerhouse, with thousands of highly active and aligned members. This FIP will show our alignment with Olympus’s quest to be a strong reserve asset, benefiting all of the Ohmies by allowing them access to huge amounts of liquidity to borrow from, while simultaneously increasing circulating FEI supply, and acting as a marketing vehicle for FEI.

Specification:

This proposal is a two step process. The first step is for Olympus to whitelist FEI as an asset to be added to their Fuse pool with the same parameters as the other stablecoins hosted there (collateral factor: 65%, reserve factor: 10%), this will have to be executed on their end. After FEI is whitelisted and added as an asset, FEI Protocol will supply 1,333,333 FEI to the pool.

  • I support this
  • I do not support this

0 voters

5 Likes

Definitely aligned with every ideas here.

2 Likes

I support this! I think it is a great way to show some alignment between the Tribe and Ohmies, as well as increase our visibility and exposure on Rari Fuse while earning cash flow for the protocol.

4 Likes

Full support of this, fei and ohm perfect match!