Feb5CC.mp3

Development Updates

• OHMv1 Migrator: Audit for the new migrator is nearly complete, with remediation review expected to finish today and deployment to begin within days
  • The new system will deprecate and defund the old token migrator, which contains significant GEOM
  • A fairer migration solution was implemented using a Merkle proof system that mints OHM on demand rather than having it sit in the contract, ensuring V1 holders can still migrate without affecting supply until they do so
• Price Feed Resilience Project: Needs a couple more additional days of work following the RFC from a few weeks ago
• Lending Facility Work: Progress continues on the last program with an RFC in development that may involve contract updates
• Frontend Improvements: Migration tools will be added to make it seamless for users with positions to migrate
  • Cooler loan to collateral amounts now display on the frontend without wallet connection
  • Metrics page updated to show loan to collateral change over time
• Protocol Liveness Visualizations: Work underway to expand treasury and protocol metrics dashboard with real-time insights into protocol operations

Treasury & Analytics

• New Dashboard Infrastructure: Relwyn built comprehensive internal dashboards using AI tools, dramatically reducing development time from hours/days to minutes
  • All data sourced from contracts via RPC calls and subgraph data, which serves as the protocol's source of truth
  • Real-time tracking includes treasury revenue, backing premium, estimated weekly yield, and YRF buybacks
• YRF Contract Redeployment: Planning to redeploy the YRF contract to incorporate USDE alongside USDS, with configurable backing values instead of hard-coded
  • Current liquid backing is $11.55, showing misalignment with the original parameter
• Financial Modeling for Institutional Investors: Created simulation models showing 5-10-15 year projections for different inflow scenarios
  • Models include base case, linear inflows, and MicroStrategy-style scenarios to demonstrate how the protocol would handle large capital deployments
  • Built to answer questions about how $100 million+ investments would flow through different channels (market buy, CDs, OTC)
• Drawdown Analysis: Illustrated the logarithmic curve behavior as price approaches backing, showing how YRF aggressively buys back and systems prevent crossing the LTV threshold
• Market Volatility Retrospective: Created visualization tools tying together time, price, and YRF activity during recent market turbulence to help marketing explain protocol performance
  • Tools bridge the gap between technical metrics and marketing messaging
• DeFi Llama Integration: Working on adapters to surface Olympus revenue correctly, accounting for the unique structure where revenue backfills into buybacks

Institutional Outreach

• Fundraising Conversations: Over two months of discussions with funds targeting different investment strategies
  • Focus on demonstrating how the system is built for volatile market scenarios like the current one
• CD Market Opportunities: Expanding target audience to include stablecoin holders interested in parking funds in CD markets as the protocol approaches liquid backing
  • Higher asymmetric reward scenario closer to liquid backing makes this increasingly attractive
• Stablecoin Issuer Discussions: Started conversations this week with stablecoin issuers about participating in the protocol

Marketing & Communications