Hello and welcome to The Ether. Today is Wednesday, December 22nd 2021. This was a Space hosted by Olympus DAO. It’s the Give AMA. Let’s take a listen.
Our previous AMA, if you’d like to open up with, you know, what is Olympus Give? What does it mean to our ecosystem? And maybe just a quick skim over and then we’re gonna have all the speakers introduce themselves.
Yeah, I’m gonna not describe what Olympus Give is, I’m going to give that honor to AcidPunk.
I’m gonna butter it up and say it’s the most exciting product since Olympus Pro. And I am really excited for where we’re going with it.
Excellent, excellent. Yeah, we’ll pass the baton to AcidPunk, if you’d like to give us a real brief, quick, what it is, and then we’ll get to introducing the speakers and we can start digging into the meat.
Sweet, sweet. Thank you, man. So the first thing I’m going to do is give a lot of credit to Mr. indigo and Mr. Glue, who unfortunately could not be here. Olympus Give is kind of their brainchild. And a couple months ago, they brought this concept to the DAO and to a few of the core members and workers of the DAO. And we kind of just ran off with it. So in the first Twitter space we were talking about, a couple hours ago, indigo mentioned that term, Tyche, that was the internal codename for for Olympus Give. And at its core, it was basically a set of smart contracts that indigo had built in terms of yield redirection. What we then took with with that is a lot of ideating on what can we do with those core sets of features. And ultimately Olympus Give was birthed. And what you’ll see today is, it’s basically just the ability to redirect your sOHM to these impactful causes and to the partner causes that we’ve chosen, and a few of those partners are here today. That’s it at its core. But there’s so much more that we can do with this. I’m very, very excited to see the start of this and definitely to see this product and subsequent products grow.
Absolutely love it. I couldn’t agree more. It really is a platform for changing lives potentially, is definitely one way you can look at it amongst a whole lot of other avenues that we can take with it. Thank you for that AcidPunk. It was short, sweet and surgical. So I enjoyed that. indigo, if you just want to say a little bit about yourself. I remember, the first time I asked you, you said, “I’m a dev.” I’m gonna preface that with he’s a giga brain dev and just an all around amazing person. Anything else you want to add? Or why you’re happy to be working on the Olympus Give project?
No, I’m just happy it’s made now. It’s crazy to see the product from a few months ago. It’s like ideating, and now we’re launching and having this event. So it’s pretty cool. One thing I said in the last AMA, before we got rugged, was that one of the things that makes me really happy about this whole thing is that, DeFi kind of has this opportunity to change the model of how we give. We’ve all grown up to be donating the way that we think about, but there’s new ways that we can rethink this model. So that’s what’s really exciting about this product.
Absolutely agree, couldn’t agree with you more, man. Super glad to have you working on it too. And I know that you and Glue have really put in a lot of work early on in the ideation phase to bring this to life. I know that Glue and I had a couple beer brainstorming sessions early on, and to see this thing become what it is now is very exciting. So thank you for that, indigo. We’ve got a couple partners here with us. And I just want everybody to introduce themselves, if you guys don’t mind, tell us a little bit about yourself and maybe how you plan to utilize Give. And then we can get into some more of the meat. Why don’t we start with the Angel Protocol, I believe last time you got cut off by the rug, so let’s redeem ourselves here, and I want to give you the floor, ser.
So Chauncey is doing the right thing, which is family time, and listening. So I’ll try to step in and not be rugged by Jack. So I’m Bill, Billy, Billygoat, whatever. I have been working closely with the Angel Protocol team. I run a Web 2.0 meatspace startup that maybe one day will grow up into Web 3.3. I actually work with a bunch of international merchants, print on demand ecommerce. And so I became a LUNAtic almost instantly when I heard about it. Shortly after I met Angel protocol, and I’ve also worked with Pledge 1%, I sit on a board of nonprofit and I was like, “Okay, I gotta support this thing.” This is incredible, exactly what indigo just said. It’s like, there’s something special here about re-architecting the way we think about giving. And over the course of my degen activities, some very degen, some very positive, [chuckle] I got introduced to Olympus, I think through crypto Twitter, but then met Asfi, and then unbanksy, and glue and a bunch of amazing people in Olympus and it went from very degen, just like, “Okay, cool. Let’s go bet on something fun,” ’cause it’s 2021 and it’s crypto, to like, “Oh, man, this is also a thing that I’m super passionate about.” And so I’ve been pushing to the extent that I can to bridge the gap between these two organizations, and really between Olympus and Terra in general. So I am beyond stoked to see what comes out of this, Olympus Give and more.
Sweet, thank you for that, Billygoat. You definitely took the baton and you mastered it, man. That sounded wonderful, and it was really good to hear from you, man. Thank you. Thank you for that. I definitely want to ask another one of our speakers here, partners, Michael from Popcorn, man, do you want to take the stage here and tell us a little bit about yourself? And how you feel about Give, and maybe how you’re going to utilize it, you and your protocol?
Michael Kisselgof 7:07
Yeah, for sure. Thanks for the intro. So, hey everyone, I’m the co-founder of Popcorn. I would say Olympus Give is very… It’s arrived in a very timely fashion as we just launched our token and what Popcorn is doing, or what we set out to do, was create a DeFi protocol where just by virtue of using it, you’re doing good. So we’re in the business of creating DeFi primitives, asset strategies that generate competitive yield on your crypto assets, while simultaneously funding nonprofits and social impact organizations. And those organizations are all determined by the Popcorn token holders. So as a POP holder, you can participate in beneficiary nominations, and grant elections. So it’s very much this community driven impact model using DeFi primitives to actually… So I guess, a little bit more into the weeds, we extracted fee from… Like earn protocol fees and redirected to rewards manager and then we distributed through a decentralized governance vote on those beneficiaries. So when we were introduced to Olympus Give, it was sort of a no brainer. And the way we’ve set this up is that we were going to match the first 50k in donations from sOHM to Popcorn, which we imagine will probably happen pretty fast. But given that there were… We just launched and we’re trying to work out the kinks with everything that we’re doing from the product to the DAO, because we are very much a DAO, we just wanted to be… We wanted to hop onboard and to this cohort with with the rest of the gang because it just made perfect sense.
Michael Kisselgof 8:51
Because personally, I mean, I was a DeFi degen before Popcorn. And one of the reasons why I started Popcorn was because I thought, it’s great that we’re all making a shitload of money, but why can’t we just take a percentage of that, just even like a small fee, and if you really do gamify that system through DeFi, and through a DAO framework, you can really get somewhere, and you can really just… I mean, this being this new asset class all together is sort of what we set out to build. And I’ve said it the latter half of 2021, with Olympus Give and some other mission driven projects out there that are addressing climate change, Climate Dao, Toucan, etcetera, as well as all the rest of the parties on this call who are partners. I think this is very much the beginning of these… For all of us that sort of collaborate on these mission driven projects, or using these DeFi products that can actually help us get there. So it’s pretty exciting. I’m happy you guys brought me on here to say hello, and excited to work with you all.
Awesome, yeah, we’re stoked to have you as well. And thank you for coming up and sharing a little bit of your story and kind of delving into what you plan to do with Give. I definitely think there’s something special about this, because of the utility and how you’re able to direct these rebases to something that you believe in. And I think that speaks to a large audience, because it doesn’t necessarily just back itself into a corner as a charitable mechanism. It actually turns into something that can really support the careers of, say, your kids. It could be an artist that you really love. I really think that utility and just how versatile Give is, is something that just blows my mind. So really excited about that. I think that once people start to think about it a bit more in detail, your mind will run wild, and you’ll see exactly where it can be utilized, and there’s just a lot of cool stuff we can do there. So without rambling too much, definitely wanted to open the stage up to some more of our wonderful panel here. Bernardo with ImpactMarket, ser, the floor is yours if you’d like to take it. Oh, and he’s not up here speaking. We might want to bring him up. [chuckle] Who else do we have up on stage right now? Let’s see. We have everyone… Hello.
Hello, I’m Bernardo. I’m one of the co-founders of ImpactMarket. ImpactMarket is a poverty alleviation protocol built on Celo where we allow communities to implement financial mechanisms, like UBI, universal basic income for those who don’t know. And with that, we’ve been helping more than 20,000 people in more than 100 communities in, I think, 25 countries as of now, in communities from Brazil in favelas, to refugee camps in Africa where they don’t even have smartphones.
Beautiful. Absolutely love it. Thank you, sir. Again, it’s like, utility. Where can this be used? Who can we help? How can we help them? So I’ve got some tee up questions that I’ve written out here that I kind of wanted to toss towards the team behind Give, here, with Olympus, and get some answers, ’cause I know there’s been some controversy around charity recently with OIP that was brought up. That specifically tied into the concern of using actual funds from the DAO. So my first question to you guys, which I know and could answer, but some people in here might not. Is this funded by the DAO, unbanksy? What’s the incentive for Olympus to do this? What is the reasoning?
This is not founded by the DAO. The DAO should be neutral and should not take any position. However, this is a completely opt in for individual Ohmies. And I think that’s really important to stress that while the central bank, or the Treasury aims to be impartial, it certainly does not want its citizens to be impartial. In fact, it wants them to be economically empowered to do anything they want in that economy. So that new ideas and new innovation and new composable structures will be formed and created… The future. The future adoption of the OHM economy and the ultimate vision of us becoming a reserve currency of this amazing…
Sounds like you got a friend. I completely agree there, man. Absolutely agree. Thank you, unbanksy. So yeah, short answer to everyone here. This is not funded by the DAO, these are individual projects that was obviously created by the DAO. So no funding is actually coming from the DAO and being donated to charity at this point in time for this project by any means. So yeah, just wanted to clear the table on that. I know there’s some controversy and worry about that. And we want to be as transparent as possible. Let’s see, I got some requests. Let’s make sure I’ve got everyone up on stage here. Alright. And this one, I think I can toss over to you, indigo. Can people manually donate to any wallet, or just to selected partners?
Thanks for the setup. So Olympus Give is actually completely permissionless. So you can actually donate to anybody. And I wish Glue was here. He could kind of explain one of the really cool use cases of this. But the one that he, in fact, had thought of when this first was being ideated was, what if you and your friends could just donate to a wallet so you could save up for a trip, during the summer or something. That’s totally possible, you just need to set up a multisig with you and your friends. And you could just donate to that. And yeah, you could just do it to any valid Ethereum address.
Love it. It’s definitely… Go ahead, Billy.
You can donate to non-crypto natives, like friends and family, who don’t have an Ethereum wallet yet. Use that as an onboarding.
Oh, yeah, that’s a really good one too. Absolutely.
Dude, that’s a really good idea. And I just want to highlight that, Tyche, the primitive that indigo invented, the first use case is Give. But Billy just suggested a whole new use case, which is a payment system. And there’s a lot of other ideas that will come out of it. So I really encourage everybody to think big and envision how you could actually use that yield to make a better world.
Yeah, a platform of change, for sure. So definitely get creative with it, and think about how we can do that. There’s so many brilliant minds in this room and surrounding us in the entire ecosystem. I think there’s gonna be some really cool stuff that spawns from this. Thanks for answering that indigo. I appreciate it. I should also mention, guys, that donations, they go on indefinitely. Or until the principle has been withdrawn. So I’m sure there’s some people that are wondering, what happens when I put it in? Does it stop? Do the rebases stop being donated after a certain amount of time? The answer is no. That does not happen. It’s indefinite, or until the principle has been withdrawn. So I just wanted to point that out. Are there any other mechanics or anything that you’d like to point out, indigo? Before I kind of tee up another question here?
No, it’s actually… It’s pretty simple. As long as you understand that staked Olympus has yield. And you get that yield via rebases, so it’s just donating your rebases as long as you want to. So you can withdraw at anytime, and the recipient of the yield can redeem it anytime as well. Yeah, pretty simple.
Beautiful, beautiful. Yeah, the the idea of donating some rebases of your sOHM is really something special. And it’s great. It’s just something that happens automatically. And then you’re potentially supporting somebody, or an entire person’s career. One of the first things that Glue and I spoke about, while we were having this beer influenced conversation early on, was what if we started a record label, or what if we had like… Because we’re both into music, we said, “What if we wanted to support someone’s career?” Like you could just set them up with rebases for the rest of their life and potentially support their career all the way through and throughout. So instead of using some sort of crowdfunded thing, where it’s a one and done and you got your 20 bucks and you spent it on something, you now have something that’s continually providing you with a rebasing income that will help support your career, whether it be music, or whether it’s an education in something else. So super cool what can be done with this, I think. Let’s see here, what else do I have? So I think a good question… I don’t work too deep in partnerships, but I definitely think unanksy or somebody else up here, Acid, you probably could definitely answer this one. How can new partners onboard to Olympus Give? Because I’m sure there’s a lot of guys in here that are like “Dang, this is pretty sweet. I want to help the world.”
Yeah, yeah, I can certainly take this one. So Glue has definitely been kind of like our guy from the beginning in terms of reaching out, starting some of those partnership conversations, but this has also been a huge team effort unbanksy, wollemi, who’s another member of the Give and the Tyche team. So I would say, definitely join the Olympus Discord. Also join the DAO Discord, the DAO working server, if you haven’t already. And feel free to reach out to any of those members as well as myself. We’re all very, very intimately involved with Tyche, we meet at least once a week. And we’re constantly trying to figure out ways to both improve just the Give ecosystem, and then also think about different use cases and different product lines. So feel free to tweet at us, feel free to jump into the Discord, or feel free to DM us via Discord. And in any of those avenues. We want to talk. We as Olympus recognize the worth of this product and we recognize that we can create the protocol, but we definitely want to rely on the partners who are actually making a change across the world. And so we’re very much in the boat of wanting to partner.
Excellent. Excellent. Thank you. Thank you for that AcidPunk. Yeah as many brilliant minds as we can pull into it and figure out how we can turn this into a massive opportunity of utility and how we can get back and help as many people as possible. There’s definitely been an underlying goal, or an overarching goal, if you will, since the very beginning. In this space, there can be a lot of money made very quickly. But that can also translate to helping a lot of people very quickly. So it’s a really beautiful thing that we have here. And what I’ve seen within this crypto space now, being in it for a while, is that most people are pretty aligned on wanting to help people that have been dealt a shittier hand of cards, or just an unfortunate hand of cards. So I really love that fact. And I’m really glad to see so many people kind of joining together to bring this to life. So let’s dive in, there’s some people that might not even know that it’s live on the site, it is definitely live on the site. There’s a little button you can click on the side that says, “Give”. indigo, is there any way you could give a quick TL;DR on how people can go ahead and pop their OHM in there and start donating these rebases? We’ll also have some documentations that we can provide afterwards. And you guys can hop in Discord if you have any questions at all. And feel free to DM me directly, or any of the other guys you see up here on the panel.
Acid, can you help me with those? Because you’re most familiar with the front end.
Yeah, so the front end, it’s basically our web URL, app.olympusdao.finance. And then, /#/give. And when you jump in there, it’s also on the side nav. There’s a new sidebar button, and it actually highlights the new… I’m going to definitely shout out Jem, Lienid, appleseed, our front end core team and Girth Brooks who pushed us all out to prod. So big shout out to all them, they’ve been huge in putting this together. And then easysleep and 88netizen, our designers. So from that, you have the splash screen. And so this dashboard has our five partners, I’m going to just quickly repeat those again. We’ve got ImpactMarket, Angel Protocol, Gitcoin, Kolektivo, and Popcorn DAO. And then, like indigo said, you have the ability to choose a custom recipient. So there was that use case of a group of friends wanting to set up a multisig, to potentially fund a vacation or fund… Let’s all do something kind of crazy, something wild, you have that ability to do that through a customer recipient. You also just have the ability to donate rebases, potentially, to a friend, to a family member, somebody who’s not in crypto or in DeFi, and you kind of just want to get them exposure. So that custom recipient button is up the very bottom as well. And then finally, at the very bottom of the page is just a quick tooltip that explains how the whole Give process works, from the end user interaction of depositing sOHM, and donating that to a cause, when the sOHM is donated, where it kind of sits, and then from the recipients’ end, or the beneficiaries’ end, how a user would go about actually collecting that sOHM rebase. So that’s the core of the functionality, you also have the ability to dig into each partner just a bit more. We’ve got a longer description of what each partners’ cause is, how it helps spread good or charity within the world. And then finally, we have goals. So each partner has set a goal for their given cause. And so that is based on how much sOHM is donated versus their total goal. And then we have the partner website that links to their specific domain and gives a bit more context there. So there…
He got rugged.
I’m afraid of that.
Let’s give him like a minute or two.
It looks like he might need the invite to speak again.
Who does? So I can quickly just…
Well, he’s still a co-host. So…
I’ll take over for now, while he figures it out. I’ll invite him again to speak… Or I’ll remove him from co-host. Yes, remove. I’ll add him again. Okay. Good. Okay. So what are… What is maybe… Keeping the conversation rolling here, what are the future innovations that we can do with this? Is there something that you already have in mind or you already think of? How can we take this even a step further? Does anyone have an idea on that?
Yeah, maybe I’d like to clarify that I am actually curious. And I think it’d be great for the community here. What are your v2 plans, indigo?
I don’t want to say anything and then I got yelled at to make it. [chuckle]
Oh, can’t you drop some alpha?
So, right now, I want to make sure that gOHM gets added. So maybe, potentially we could do this cross-chain as well, so you could do this anywhere that gOHM is available, that would be awesome. A few other things I’m really thinking about, like Tyche, or sorry, the Olympus Give as like a yield product. And what if you split the yield off? And like, what if you could borrow against the deposit that you put in? So therefore tokenizing the deposit that you’re donating the rebases of? So that’s another thing. Yeah. It’s still really fuzzy. So I’ll won’t say too much.
Hey, I’m back, ladies and gentlemen.
Twitter’s got it out for me today. I don’t know what’s going on. But man, that was record recovery. So I’m happy. I really thought I was doomed. Thank you, guys, for taking that, it sounds like you were talking about the gOHM integration and cross-chain utility potential as well, which I think is super exciting.
Yeah, and I’ve actually… I’d recommend you guys check out the Agora podcast that Glue and I did a few days ago, that was a… It was a great podcast, in my opinion. And we talked about some of the other use cases that are possible as well.
Love it. Yeah. And also love Agora, highly recommend it, guys, if you haven’t listened to any of the stuff that they’re doing, please tune in. Wonderful group over there. So I’d like to… We’ve hit some of these immediate questions. And we all realize now this is a really, really amazing tool that can be utilized in so many different ways. I want to open the floor up to our partners, tell us anything that you have on your mind, or thoughts or use cases or anything you want to share with the audience, please go ahead, unmute and take the floor if you’d like.
I can go.
Welcome, Billy. Again, my friend. It’s all you.
So use cases is what’s always on my mind. And I think if you think about the direction of Olympus Pro, think about the cross-chain future, think about what Olympus give and/or Tyche has to offer, those seem to be intersect, from my perspective. I might be biased, but what if the fundamental underlying principles of buying a bond or transacting across gOHM, or working with Internet Protocol’s 60 Alliance members who’ve committed to donating 1% of their protocol revenues to the charity index? The very near future, in my mind is like Olympus Give is embedded in that. And so it’s actually an attractive mechanism for people to not only use Olympus Pro, but also get involved in this movement for something bigger. And again, I said, I worked with Pledge 1%. So why don’t we just turn that to Pledge 3.3% and actually make it net positive for the protocols, for the individuals, for the people that are donating, right? It’s not just a charity donation. We’re doing things that are like tax write offs, and all that kind of stuff. And if you’re in the US, you should definitely take advantage of that. Regenerative, that’s something we talk about a lot at Angel and just generally, is this generative giving concept and you see it in companies like Patagonia, B Corps, even Tesla and Impossible Burger. They have designed the incentive mechanisms such that it actually makes sense to give back to a cause that’s bigger than just yourself. And that’s where I think Olympus Give is going.
Fatty, went back to the clubhouse.
Right. [chuckle] I love what you’re describing. I think there’s so many ways this can go. Just listening to you, I just thought of this idea where, suppose Olympus starts our own L1 chain. And 1% of the transaction fees are automatically directed to charities or causes that matter to you. So you kind of tie all economic activity to charitable causes. And you align incentives between humans, good causes, and economic cycle. That’s, that’s v3, indigo.
Yeah, that’s v5. [chuckle] Yeah, I agree. There’s so many cool things you can do. I think one thing that I do want to say, the thing that made me think about this idea was actually because of… I was thinking of Curve and how people build Convex on top and I was thinking like… But, yeah.
I’m a little concerned. Definitely, we changed it up. I am now speaker, no longer the co-host had been demoted, fired, reprimanded whatever you want to call it, but I am here, baby. And we are back. Thank you guys, for rocking and rolling there though. I was cracking up when you guys said I got rugged again, I’m not gonna lie. So yeah, thank you. I know, I missed some of that. So I don’t really have any wonderful comments to follow up with. But I know it was some good stuff. So is there anything else that our partners want to speak about? I know, Billy just hopped up and had some good stuff to say. Anybody else want to say something? I’ll leave the floor open.
Yeah. Right before you came, I was saying something.
Oh, sorry, indigo. [laughter]
So I was just saying that one of the things I want, I wish like… And this is for anyone who’s a dev or a creative, there’s a lot of things that can be built on top of this system of Olympus. And so redirecting yield is just one thing. So that’s one of the things I’d encourage people to think about, just using this system, and like what other things we can do? And please hit us up. Hit me or Glue or any of the people up here, if you have any ideas.
100%. Yeah, once again, sorry, for rugging you, indigo. I had to kind of, you know… I gotta share the pain [chuckle] is what it is. But thank you. Yeah, anybody that has any wonderful ideas, and want to join the conversation and figure out how we can utilize them, let’s make it happen. That’d be awesome. I’m going to follow up with what I had just previously said, which was, do we have any partners that want to share anything else about what they’re doing with Give? Or just in general with their protocol? I’ll leave the floor open now.
Michael Kisselgof 32:02
Yeah, I mean… This is Mike from Popcorn. The redirecting the yield to nonprofits or social impact organizations, or just charity, charitable organizations in general. I think, like I mentioned, when I intro myself in the beginning of the call, or the beginning of the AMA, was, I think there’s like several… There’s a great opportunity for the protocols out there that are generating yield to either redirect yield, or the fees, or actually create some sort of matched fee or yield mechanism, and then you can really send this thing to like a whole nother level. Because you guys, Olympus is definitely a juggernaut. I’ve been an Ohmie for a while, fantastic projects, probably… Arguably the most exciting project in DeFi that came about this year. But now, given that all of these Lego pieces are sort of like stacking on top of each other, there’s definitely this is… There’s definitely a potential for all of us to collaborate together if there is this sort of passive way of just redirecting, whatever you want to call it, revenue, let’s just say, to community selected, or even individually selected charitable causes. And yeah, I think this is definitely sort of the first big stepping stone that you guys have corralled, the first cohort of organizations to perhaps begin this new way of doing things with DeFi. So I think it’s pretty cool.
Absolutely agree. I love it, man. Thank you for that, Michael, we really appreciate that, man. Excited to see what all these brains can come up with. Anybody else that wants to hop up here from the panel? And our partners that would like to say something, I will leave the floor open. It stays quiet for too long. Hey, Bernardo, you want to say something, my man?
Yeah, I can jump in for a little bit. Yeah, I really like this idea of redirecting yield. In our case, it’s because for UBI. UBI goes… Well, it should go indefinitely. But what we do usually is that communities have maximum amount the beneficiaries can claim on, but usually, and you can see those details on our website, it goes around 50-60 cents a day. So redirecting yield and knowing that you’re helping people with this small amounts every day, I think personally is a really… It feels really good. But also on our side, we’ve been thinking, how could we use the redirect yield on some other ways?
Love it. Absolutely love it. Thank you very much, Bernardo. Appreciate that.
I just want to hear indigo talk about Ohmly Fans.
That was the original motivation, just so anyone knows.
Wait, what? Explain?
I’m joking. But it’s possible if anyone wants to make it they can make it.
Like redirecting my yield to like, my only fans?
To content creators.
So yeah, it’s like a joke but it’s not a joke. I mean, we talked about like subscription based OHM yield direction.
Yeah, well shit dude. That is huge. Yeah.
That’s not news.
No, just economy, dude. We are literally positioning ourselves to be at the center of the creator economy.
v2, indigo. v2.
If I recall, wasn’t raising from this from pylon, indigo? With Glue?
I think he got rugged. [chuckle] What was your question, Billygoat?
indigo said on the Agora podcast that some of the inspiration for this was from Pylon Protocol, which is on Terra side, which is like about subscriptions and reutilizing some of the yield and stuff like that. So just prompting…
We were talking about nudes before I left.
Please send nudes. [chuckle]
That’s when I got kicked. I think I said the wrong word.
Do we want to bring up the audience members? To ask questions?
Yeah, yeah, let’s definitely do that. I think fatty is trying to maybe become speaker again. But in his absence, anyone who’s got questions, anyone who’s got ideas, anyone who just wants to shoot shit and talk a little bit more about Olympus Give, please raise your hand. I think it’s the bottom left button if you’re on mobile, I’m not sure about desktop, and our admin, WartuII, will pull you up.
Okay, I added someone. Chromework? It’s probably you, can you unmute yourself?
Hello, there. I got a question, and I got one idea. Basically, the question is, when you start directing some of your yields to people, to charities, to people in need, I love the idea. But wouldn’t you put on some sell pressure on the OHM token? If everybody who gets it wants to sell it for money?
Who wants to take that one?
Yeah, so… Yeah, I got it. Yeah, that’s a good question. That’s a good point. Because what we’re doing is we’re introducing OHM outside of the economy and to new players, right. So there is that kind of benefit of distributing OHM to more people throughout the world, and helping them understand and learn of the value of keeping OHM versus the US dollar or the Peso, whatever. So that’s one benefit. With that benefit, of course, comes the concern that there will be sell pressure, because people are not (3,3), people are concerned, and they just, they’re not really Ohmies. And so there’s ways to work around this. So for this pilot, what we’re doing is we’ve made agreements with our partners, to have some conversations around, if it needs to happen, of course, the best way is then to keep that in the treasury, and then use that as a reserve. And then, of course, other kinds of conditions that we discussed. With the future of Olympus Give, I think that’s where we need to learn from the pilot, use that data to understand how do we bring OHM to more people and to charities, while also controlling for this price volatility. And there’s actually a few ideas, very interesting ideas in the AMM Space and the coincidence of wants that Glue and indego had been iterating. But I think it’s a bit early to share, but it’s something we’re definitely thinking about. So, yep.
Can I make a quick comment on that, on the sell pressure? I’m the only one speaking, so yes. I also feel… I just wanna recall something out that I just thought of when you were talking about maxis, is like, this whole notion of (3,3) and do it for the community and stuff like that. It actually… I mean, that’s a meme and it represents the appropriate incentives in game theory, but I don’t think it should be so cultish all the time. I mean, we’re not Temple DAO cultish. But my point is, you don’t have to have all these, “Here’s what you should do,” or this social shaming if you’re going to sell, just have the right incentives. So I’m going to tie this back to what someone said earlier, might have been you, unanksy, is like, okay, what if you could actually use the OHM that’s staked for something else that’s productive and generative? Sitting in a treasury is pretty good, earning money, bring in friends, doing trips, giving charities, borrowing against it, because we’re all mostly degens. My point is, it feels like we’re at the precipice of evolving from just this very single minded meme culture of (3,3) forever because people have real life stuff. And guess what, sell pressure is not necessarily always a bad thing. All stocks in the United States dollar has sell pressure, but they also have a lot of buy pressure. So to your point, unbanksy, is like if you can extend it out to a wider audience, the sell pressure doesn’t matter if there’s enough buy pressure and people that want to get a hold of this because it is a productive and generative asset. That’s kind of like the Mecca from my humble, smooth brain perspective.
I just, my brain just became more rigid listening to you. Thank you.
Sweet. Check 1, 2, 1, 2. Can you guys hear me alright?
It’s a miracle. I don’t know how long though, I might as well say farewell now. [chuckle] Twitter has been wild. It’s rugging me and indigo. It’s jokes. We love it. Let’s bring up some more people, man. If anyone has any questions here or ideas, we’d love to hear them. We want to leave the latter half of this portion, I’d say about the next nine minutes, open to people that are really passionate about this, have some ideas. Maybe if you’re too shy to come up on stage, make sure to send us a DM and let us know what you’re thinking because there’s a lot of really great utility, I think, that can come from this platform. Anybody want to come up here and ask some questions during this last moment? Please don’t be shy. We are more than happy to have you up here, host you and answer whatever we can.
I pulled up ToxicNaPalm.
How’s it going? This is actually really crazy, because I was just thinking about very similar mechanics of like, I have a friend who is an artist, I’m… Yes, I’m an Ohmie, but I’m irresponsibly long on Klima. And I was thinking about doing like a series with her that is very cyberpunk, very Greek mythology based. But I was thinking of, what are some unique ways to put all that together. And I was thinking, “Oh, you could put some of the proceeds from an NFT into a (9,9) situation and keep on funding more NFTs off of what the initial sales, things like that. But this is really amazing. I really like the concepts that you’ve put all together. So I’ve just a few basic questions. Number one, like I said, have you reached out to other OHM forks, like for example, Klima? Is that something that you’d be looking into in the future? And then another one that I had here as well is, are there ways to maybe donate a portion rather than necessarily all of that so that another portion continues to autocompound if you understand what I’m getting to? So that, in other words, the giving increases overtime?
Acid, do you want to touch on the first question he had, which was, have we reached out to forks, like Klima, or confirm forks, approved forks? People that participate in the ecosystem? That’d be his first question there.
On the forks side, we have not just yet. I think after this launch, there’s a lot of things that we’ve been trying to explore. Mainly, the first is, from a user side, tried to be as user friendly when it comes to gas. So we’ve definitely been looking at some of the other cross-chain and L2 solutions, but not as of yet on some of the forks or some of the other… Yeah, other different types of directors.
Sweet. Thank you for that. And then Toxic, I just wanted you to clarify that second question. Could you go ahead and just say that one more time for me, man, so I can make sure to get you the right information?
Yeah. So the idea that I have here is that, I may be misunderstanding it. But the idea is that Olympus Give is where 100% of the rebase goes to the wallet that you designate. Would there… Have you considered adding in functionality in the future where you can taper that down, so it’s not necessarily 100%, where a portion of it actually continues to go back into your Olympus Give so that the next rebase is… You’re actually giving a higher amount, and the next rebase after that you’re giving yet a higher amount after that.
Great, great Question. This is all things that I think indigo had planned for v2. Even adding to that, there was a time-based donating that we talked about. So you put in, let’s say, 10 sOHM, but you kind of want that to taper off after a certain number of days or months. I really like your compounding example, that’s actually not something we discussed. But certainly something I’m just gonna defer all of the smart contract stuff to giga brain indigo. But I do really like that. So some of the use cases we talked about were time-based, or even percent-based. So of your current wallet size, let’s say you want to take 50% of that to donations and the other 50% to just (3,3), those were some of the use cases we talked about, just not prioritized for our initial MVP, or pilot.
That’s really cool. Thanks, guys.
I just want to say this too, not to be too much of a Shillygoat, but Angel Protocol was kind of designed that way, and then they got introduced to OHM. But Chauncey, who’s here listening in, said something which I love, which is, “Give once, give forever,” and it was using the Anchor methodology. And it’s just like kind of reinvesting some yield back into Anchor, and then creating charity endowments. So that’s like the Angel side. And I think what it kind of gets to and I love that question, Toxic, is maybe it’s not just straight up giving, right? Maybe it’s reinvesting some of this, it could be back into OHM, could be into KLIMA, if you’re doing climate change, right? There’s plenty of different ways that you can create this, from unbanksy, “the daisy chain of giving” effect and it doesn’t have to be just this straight up thing. And maybe it’s v2 or 3 or whatever. But it sounds like we’re moving towards like a more fidelity, kind of targeted type of thing, where someone is almost setting their portfolio of giving. So that sounds like super exciting and we should totally accelerate that. Put Acid and indigo and the devs, and these rigid brains on a spot and just, can we make that happen? Now?
Put them into a room. And give them Mountain Dew.
Absolutely. A lot of Mountain Dew and Christmas cookies. By the way, thank you for that, Billygoat. I loved Shillygoat too, that was great man.
Speaker 1 47:28
Oh, you know I have one really small question as well. I’m not too active in the Olympus Discord. Is Olympus Give one of the threads that’s on there or is a lot of the discussion etcetera outside of that Discord? I just want to follow this more.
I’m still experiencing Twitter problems. Can you guys hear me again?
Jeez Louise, I’m so sorry. Could you re-ask that one more time? Then I’ll get you a…
So the question was, where can we follow the latest progressions around Olympus Give? Is it in our Discord? Is it on Twitter? Is it somewhere else? Where should people go for more information about it?
We’ll have plenty of documentation available. AcidPunk, is this something you want to touch on as well? It looks like you’re unmuted.
Yeah, yeah. So the one thing I will say is, right now it’s just through Discord, Twitter, and then we’ve actually updated our FAQ page on the docs website. I think it is probably worth talking to Sherpas and talking to some of the people who manage the main Discord. I’m seeing Olympus Pro has its own section, maybe adding a section for Olympus Give, so I can talk to some of the folks about that.
Perfect. Thanks, AcidPunk. Hopefully that answered your question, ser. Awesome. Okay, wonderful. Anybody else that wants to come up here. Let’s go ahead and bring keisha up here as well. She’s one of the first use cases of Olympus Give. She’s working on a project called Olympus Spirit. It’s in a Canadian city, where she’s at. And she’s actually providing care packages, and a lot of really wonderful things for individuals who can’t necessarily afford it, or are underprivileged. She’s been kicking ass. She’s actually working with an elementary school to have these custom cards written out. It’s a super cute, really sweet, warm hearted initiative. And I’d love to get her up here too, to kind of talk about what she’s doing. But we also want to have the floor open to any other questions that you guys might have. We are at four o’clock, and I want to call it here, within the next 10-15 minutes tops, to be respectful of everyone’s time. So if you do have any burning questions that you want to bring up, please hop up now, raise your hand and we’ll get you up on stage. And if we can, let’s pull up keisha. I don’t know if you have your hand raised, keisha. We’re having some crazy Twitter rug problems today. So bear with us. All right, looks like she’s on stage. The woman, the myth, the legend. Hello keisha. How are you doing?
Good, I’m cold. It’s like -40 up here, but I am good.
Yes. You know, I wanted to bring you up here to raise awareness for the Olympus Spirit initiative that you’re rocking and rolling with, one of the first true use cases of Olympus Give. Could you tell the audience a little bit about what you’re doing, what you hope to achieve, and basically just that, please,
Absolutely. So it’s super, super cold here and with COVID restrictions and things like that, I noticed an inequality in my community. The homeless, we’re at like the highest rate of homeless in the city where I live right now, because of COVID. And I think only 30% of the homeless population is vaccinated. So where I live, restrictions are a little bit stricter than probably most American cities, but pretty much so they don’t really have access to warm spaces. Where you could normally loiter before, you can’t now, because you have to reduce the spread. So you either need proof of vaccination, masks, stuff like that. And people are homeless, they don’t really have access… I think we forget little things that people don’t have access to. And so they’ve been at a, I think, a severe disadvantage, in comparison to lots of other people. And so they can’t find warm spaces, they need to have masks, they don’t have access to that. The shelters are operating at lower capacity limits, because there needs to be six feet of distance to accommodate social distancing, and all of that. So this year, I wanted to make my goal a little bit bigger. So I wanted to… I think we have about 3000 homeless people where I’m from, which is up over, like almost double from the year before. And it’s the highest it’s ever been.
So this year, I was like… Last year I did 103 boxes. This year, I wanted to do more. So right now, we have enough funds donated for 500 boxes. My big, big goal was to do like a box for hypothetically every person. So each one kind of includes hand warmers, feet warmers, a blanket, toothpaste, toothbrush, mouthwash, non-perishable food items, like food that they can actually eat. They can’t really… If you give them canned food, they don’t have can openers, so you kind of have to make sure that everything you put in the box is actually… They can use it. So we also include a tote bag that they can close, and is waterproof, so that they can store all these items. Because what’s the point of giving people these things if they can’t even carry them around? And then they get a box which lots of them used too. A Tim Horton’s or McDonald’s gift card, so that they can have, A, be a patron somewhere and get out of the cold, and B, they can get a coffee, hot chocolate, food, whatever they want. And then also, it doubles as a nice warm place outside of the cold for a little bit. It comes with tubes, scarves, or I guess beanies, if you’re American. Tube, scarves, gloves, finger gloves, warm socks, menstrual items for the women. And then each one has a hand drawn Christmas card from an elementary student. So it ties in really well with their curriculum as well.
And I find that lots of people don’t like sympathy and they don’t want pity gifts. And I don’t want that to come across that way. So I figured by adding in the element with children, they’re more likely to feel appreciative of the gift, and not feel pitied or bad about themselves. Because I feel like when something comes from a child, you’re a lot more… People are a lot more accepting of it, I guess. And then they’re all gift wrapped. Because I feel like most of these people haven’t really experienced a Christmas, and some people lived on the streets for years. So it’s just something nice to give them a chance to experience that Christmas joy that most of us know and love. And I’m sure they haven’t… Some of them have been able to open a gift in a while. And then it provides them with essential items to help them make it through this really cold winter. So we get colder than Antarctica sometimes, up here, and we have lots of people that are on the street and they’re a lot… And without as much access as they have had before. I think it’s a really tough year. And it’s nice to do what we can to help them. So if you want to redirect your OHM rebases with Give, I can extend the deadline, I was going to close it today but I can extend it for a little bit longer. I’m going to go shopping for all the items tomorrow and then package them all up and gift wrap them. I’m going to deliver some on Christmas but it’s a little… I think It’s going to be impossible to wrap 500 or 1000 gifts in the next couple of days before Christmas. So I’m going to deliver the rest throughout the community throughout the holidays in between now and January. Yeah, I think that’s all I have to say.
Thank you. You absolutely nailed it. Super, super proud of what you’re doing there, keisha and I have a ton of respect for you. I think that it’s really a wonderful initiative. And there are a lot of people that have a tough time during these cold winter months. I think this is a great time to open up our hearts and extend some of that warmth and love. So thank you so much for what you’re doing, we’ll make sure to share the wallet address that you have. So that if people do want to redirect some of their rebases, we’ll get that rocking and rolling. You can definitely message keisha directly or myself. And we can provide you with any more information that you need to go ahead if you guys feel like you’d like to donate to that initiative. So thank you, keisha, for coming up here and telling us about what you’re doing. And please stay warm out there.
I will. Thank you.
Thanks. Take care. Guys, we’ve been rocking and rolling for a while now and we’re gonna get close to closing this out. Just want to do one more small shill/promotion. FrenDAO is a DAO that was conceived within Olympus. It was started by jawz, which many of you know. I’ve been working with jawz hand in hand, we’ve raised about $200,000 from the sale of NFT plushies. That 200k is going to be used to buy OHM and then utilize it through Olympus Give. So if you guys are interested in being part of a DAO that is definitely birthed from within the heart of Olympus. And the entire goal is to give back to the world work on these Earth restorative initiatives and take care of the fellow human as we all are just floating on this big blue marble through the black abyss together, please hop over there and join in. It’s a really good way to give back as well. I wanted to thank all of our partners and the panel that are up here today. As usual, it’s a pleasure and I’m honored to stand shoulder and shoulder with you guys and share a stage. Thank you so much for coming up. And thank you to everyone that has put up with the v2 Olympus Give AMA with our earlier problems and all the times that I’ve been rugged today. And please join the DAO and join the server, the Olympus community server, if you guys want to just come hang out and meet some of the Ohmies. So thank you everyone. If anyone has any closing comments, please add it or we’re going to close this room down, baby. Cheers everyone. Bye.
Thanks for checking out another episode of the ether. That was the Olympus DAO Give AMA. Recorded on Wednesday, December 22nd 2021. For terraspaces.org, I’m Finn, thanks for listening.