Create OlympusDAO gOHM-USD SMART Alpha (SA) pools on all networks gOHM is supported on and add them to the Barnbridge SMART Alpha website.
Initiate gOHM-USD SMART Alpha pools for all networks gOHM is supported on—at the minimum Ethereum (if gOHM is released on Avalanche and Arbitrum, also create pools there as well). Then add the pools to the Barnbridge website for easier access. Finally, request the Olympus community to post an announcement of those pool’s existence in their Discord to attract OlympusDAO holders (ohmies) to them.
A gOHM-USD pool would allow OlympusDAO holders (ohmies) to easily achieve gOHM downside protection or liquidation-free leverage while still exposing them to the high APY Olympus provides.
Additionally, this pool has the potential to attract significant amounts of liquidity and awareness of SMART Alpha from the Olympus community.
My understanding is that the implementation requires a Chainlink price feed for gOHM. There is an OHM/ETH feed (OHM / ETH price today | Chainlink) which should give reliable gOHM prices assuming we can get the OHM index. Ideally, a gOHM price feed would exist in the future and we could switch that then.
There may be some challenges relaying the correct price of gOHM, but given that FIAT DAO has experience in showing pricing for wsOHM/gOHM I think that the team would be able to technically implement this.
OlympusDAO summary and docs: Introduction - Olympus
gOHM information: V2 Migration - Olympus
-gOHM seniors can receive downside protection while still earning a portion of the generous OHM APY
-A lot of ohmies borrow against their OHM with over $1B of OHM provided as collateral—a potentially huge market for SA junior positions and with no liquidation risk compared to Rari and Abracadabra
-Technical knowledge from the FIAT DAO implementation should allow for the developers to more easily implement this pool in Barnbridge
-A lot of Barnbridge holders also hold sOHM (or wsOHM/gOHM)
-The gOHM contract is brand new and may require changes in the future
-Olympus is a still a new protocol so there are always risks of hacks, exploits, or other risks associated with newer cryptos
-Ohmies may not be comfortable with senior positions as they will lose a considerable amount of upside potentially resulting in a heavily junior pool or in the worst case no senior positions at all
Proposal on OlympusDAO
Also, @Mike987 worked on this as well so just giving credit to him as well: