The Olympus Pro Bonding Program is Live
We’re excited to announce that the Olympus Pro bonding program is live for NEWO liquidity providers! With the introduction of veNEWO (June 15th), a restructure of NEWO emissions was warranted — thus we decided to redirect emissions towards this program until New Order accumulates 90% protocol-owned-liquidity as proposed here.
What is Olympus Pro?
Olympus Pro is a platform that helps protocols acquire their own liquidity and guarantee the permanence of liquidity to facilitate transactions, meaning they no longer need to pay out high incentives to rent liquidity. In other words, Olympus Pro solves for liquidity problems by providing bonds-as-a-service for a small fee.
What is New Order?
New Order is a community-driven Venture DAO with a focus on building DeFi startups. In contrast to traditional venture platforms that provide capital, we instead offer valuable resources, expertise, and essentially us a Co-Founder.
Program Details
- This program allows for a swift transition to a healthy emission schedule that will be based on holder conviction curated by the vote escrow model.
- This program is available for LPs on Ethereum. A program for LPs on Avalanche will soon follow.
- The emissions reduction to NEWO LP Stakers started on the 20th of June and the bonding program will continue running until the protocol obtains 90% POL (reductions schedule here). If more liquidity is necessary to accommodate protocol growth, new bonding programs would be enabled to ensure ample liquidity for NEWO.
- Users can bond their LP tokens for NEWO at a discount from market price (7.7% at time of writing) on Olympus Pro’s UI here, then lock their NEWO for veNEWO here.
- Bonds will be linearly vested over 10 days.
- The initial program will consist of $100k of NEWO over 28 days and then will be adjusted on a monthly basis.
For more information on Olympus Pro, browse the resources below:
