Proposal to add an addendum onto [SCP-25]the FOX bonds program

Summary: Proposal to add an Addendum to SCP-25, creating a committee to be able to

make changes on behalf of the DAO under predefined guidelines established within this

proposal. The Bond Committee, would have the power to change the Max Number of

Bonds as well as the Max Payout for the duration of the initial bond program, which runs

through the end of February 2022… These changes would be within an agreed upon

range voted for by the community and be based upon community feedback solicited at a

public and open community meeting such as the Weekly Governance call.

Motivation: The first couple of days of the FOX bond program has been wildly

successful, and this would allow for us to better capitalize on this high demand moving

forward. It is to be able to better capitalize on the demand of these FOX bonds and to acquire more DAO-owned liquidity and do so at an appropriate rate. This would mean

being able to allocate more funds from the treasury to the smart contract and increasing

the offerings of bonds for a given period of time through the support of this

proposal by the community. This will allow for the DAO to better capture and realize the

true demand of these bonds and purchasing their liquidity through this offering.

Specification: The specifics would be that this committee would be formed to implement

changes to the Bond Program on behalf of the DAO within predefined parameters

(upper and lower bound polls are below) to change the weekly Bond amounts and

reward amounts. This would be accomplished through a majority vote by committee

members after hearing out the thoughts of the community during an open meeting.

Any increase that is voted on will result in a need to deposit more fox for the tentative

period of time that we are looking to increase to. The point person from the committee

would work with the Olympus DAO team to get these changes made to the FOX bonds

and work with the treasury to get any additional funds required distributed to the smart


Through current communication in the discord server, we have myself (Ron/PTT),

JoshF, Neverwas, Marley Shapeshift, and Hunt. I would like to nominate myself as the

point person to work with communicating and collaborating these agreed-upon changes

to the OHM team and working with them to get the bonds updated.

I would like to additionally propose that these committee team members are

compensated for their time each month. A 400 FOX allocation per month for each

committee member and an additional 600 FOX for the point committee member

handling the additional work of communicating and coordinating the changes with the

Olympus DAO and the treasury.

This committee would be in place until the end of the initial bond program, which would

be the end and would require an additional proposal to continue operating.

Benefits: The committee being in place would allow for a better reaction to market

conditions for the bonds vs having to go through the lengthy, 10-day minimum,

governance process currently in place. This includes the ability to sell more bonds when the market demands it and lower the number of bonds when the market isn’t looking for


In addition to the previously stated benefits from the original proposal.

“-Permanent liquidity source

-Increased treasury value from liquidity that also earns trading fees

-Exposure to paired asset in liquidity pool (ETH)

-ShapeShift can stake its LP tokens to provide additional runway for incentive programs”

Drawbacks/Risks: A potential risk is that committee could go rogue and act against the

community’s consensus, but due to the fact that we have 2 former ShapeShifters with a

combined 12 years of experience working for ShapeShift corporation involved(one

which is the engineering workstream leader, the other recently passing a proposal), and

three highly involved members with the community and involved with workstreams as

well, I think the chances of this are incredibly low.

In addition to the previously stated benefits from the original proposal.

" -Additional FOX emissions via bonds may increase sell pressure.

-Protocol-owned-liquidity can be seen as diluting existing LP holders"


How much extra capacity should the committee be able to vote on behalf of the

DAO to increase from the current amounts? (this is not the amount they will increase up

to, but rather the upper thresh hold of being able to increase to)

Should the committee be able to vote on behalf of the DAO to lower the Bonds lower than the current proposed rate for the bonds?

If you voted Yes on the previous poll, what level should the committee be able to

vote the current bond rate down to? This would establish the lower end of the range the

committee could vote on these bonds to.

Do you support Ron/PTT, Neverwas, Marley ShapeShift, Hunt, and JoshF as the

members of the committee?


Thanks for putting the time and effort to delivering this to the community PTT, a great option and pathway to creating greater value and adaptability for the DAO. Also enjoyed the involvement and feed back from many members in DAOing this out. I have cast my votes and look forward to additional feedback and efforts.

Thank you for volunteering to be a part of this, assuming it passes!

thanks for taking this on !

Hope to see this advance to ideation/proposal asap so we can #raisethecaps

This is great. Thanks. I voted and would fully support this.