yAxis is exploring the possibility of replacing the existing UNISWAP LP staking rewards over time with a strategic Olympus Pro partnership, allowing yAxis to acquire its own liquidity. As part of any potential partnership, yAxis would be required to allocate YAXIS tokens to launch the Protocol Owned Liquidity (POL) bond programme.
Incentivised Uniswap and Sushiswap LPs require significant tokens to maintain. With a limited total supply, at some point in the future LP emissions would slow down or stop and impact the ability to trade YAXIS. Olympus Pro is a future-looking programme providing the ability to maintain a Uniswap LP forever, as the protocol would own a critical mass of LP tokens.
A potential partnership with Olympus DAO would:
Help with YAXIS price stability. It would prevent mercenary capital from farming YAXIS, dumping YAXIS, and then leaving the project as they see fit.
yAxis would own its liquidity in Uniswap.
Bring in new revenue streams (Earning Uniswap fees via the owned LP tokens .)
Increase market exposure through the partnership (co-marketing).
Represents a savings of roughly 1M YAXIS tokens over the course of a calendar year. Ultimately, yAxis would no longer incentivise the Uniswap YAXIS-WETH LP. (For reference, yAxis currently incentivises Uniswap YAXIS-WETH liquidity providers with 250K tokens every three months.)
Access to Olympus’ experienced policy and engineering teams
A first step in any potential protocol optimization requires community discussion, and ultimately a DAO vote to allocate YAXIS tokens to the programme. This would potentially be YIP-13 (yAxis Improvement Proposal).
With that in mind the team is looking for input and feedback. Feel free to have your say below!
More information on Olympus Pro can be found here: Introduction - Olympus Pro