Lobis is an Approved Olympus fork (oh yes) specialized to ensure that OlympusDAO can participate in DeFi governance. The OHMies heard our voice and joined our cause. Lobis is an protocol specialized to participate in DeFi governance.
Lobis Coin community determines a basket of governance tokens e.g. CRV and FXS to back $LOBI. These reserves give anyone the ability to $LOBI, creating more voting groups through a meta governance token, a gateway to DeFi. They believe that by strengthening the pillars of DeFi such as Curve they strengthen the whole ecosystem. They want to normalize the idea of alliances that work in tandem to promote and grow protocols.
Lobis is an open-source Protocol. Anyone can contribute. We are built to (3,3), anyone can buidl with us, anyone can shape the future of Lobis. The protocol is maintained by various independent developers or “”Envoy’s”” of Lobis and is governed by $LOBI holders. A system of points, bounties, and rewards will incentivize contributions in every area of the DAO.
The live Lobis price today is $3,840.92 USD with a 24-hour trading volume of $25,594,861 USD. We update our LOBI to USD price in real-time. Lobis is down 38.17% in the last 24 hours. The current CoinMarketCap ranking is #2802, with a live market cap of not available. The circulating supply is not available and a max. supply of 20,682 LOBI coins.
Purpose is a Representation of shared values
They believe that by strengthening the pillars of DeFi such as Curve they strengthen the whole ecosystem. The long-term view on the pillars of DeFi such as Curve is focused on the increased adoption of decentralized finance. They want to normalize the idea of alliances that work in tandem to promote and grow protocols.
How do Olympus and Lobis work together?
Together with the OHMies, they aim to bring decentralization back to DeFi by backing the vision of OHM as a decentralized reserve currency and providing a solution to the issue of whales gaining control over other protocols due to imbalances in financial wealth.By supporting our proposal, you will help to:
Position OHM to become the most widely used currency in DeFi by becoming the base pair for governance tokens such as CRV, FXS, oSushi, and more.
Generate fees for Olympus DAO through liquidity pairs.
Generate income for the Olympus Treasury in the form of governance tokens with every bond.
Increase Olympus Treasury directly by way of interest-free lending to Olympus of governance token – LOBI.
Trigger an Airdrop to the Olympus community in the form of LOBI.
Leverage locks and boosts to generate the best yield on Olympus’ treasury assets.
Achieve significant exposure and governance over the entire DeFi ecosystem.
Enable projects that implement a Curve style locking mechanism to become more decentralized, reducing the existential risk of decision-making bottlenecks
What’s in it for the OHMies?
Lobis Coin focuses on governance and propagating OHM as a currency, while OlympusDAO will accumulate $LOBI tokens without further emission of OHM, increasing its backing.Lobis will also enable Olympus to get access to the best yields in DeFi for its treasury assets and potentially gain the ability to participate in the governance of the ecosystem.
The Olympus team has guided Lobis with their experience and expertise in design to support the project’s launch. The project team will build and maintain Lobis under the stewardship of the OHM team and plans to integrate the OHMies as well.Thus, Lobis is inexorably linked to Olympus by code, ethos, and long-term vision. This is not possible without the support of the OHMies, and to that end, they present the critical benefits to (3,3):
Facilitating the use of OHM as the sole global reserve currency of DeFi by pairing governance tokens with OHM for its liquidity. Lobis will acquire a considerable amount of OHM through liquidity bonds with a positive impact on sOHM APY.
The OHM community and treasury will get access to governance in the DeFi ecosystem through the governance rights on Lobis (on Curve, Frax, and in the future Sushi and others). If required, they can bootstrap the acquisition of governance tokens like CVX for Olympus per the most recent governance proposal so that Olympus can get governance power without harming its backing per token/RFV.
How doparticipate in Lobis?
There are two main strategies for market participants. Stakers stake their $LOBI tokens in return for Lobis Coin and the right to claim more $LOBI tokens, while minters provide LOBI/OHM LP or governance tokens (CRV, FXS) in exchange for discounted $LOBI tokens after a fixed vesting period.
How can benefit from Lobis?
Lobis benefits for stakers come from supply growth and governance power. The protocol mints new $LOBI tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for bonders comes from price consistency. Bonders commit capital upfront and are promised a fixed return at a set point in time; that return is in $LOBI and thus the bonder’s profit would depend on $LOBI price when the bond matures. Bonders benefit from a rising or static $LOBI price.
When a bond enables to increase the reserves of the DAO, a new $LOBI is minted and distributed to sLOBI holders. The minting rate is 1 $LOBI for each $1 worth of governance token or LP token bonded. The contracts use Chainlink price feeds to calculate the amount to be minted.
At first, Lobis will accumulate CRV and FXS and Lobis Coin to incentivize whitelisted protocols to move towards fairer, more governance-friendly locking mechanisms (today, neither Yearn, Convex, nor Stake DAO allows CRV stakers to keep their Curve governance rights).As part of this goal, Lobis will offer bonds for CRV and FXS, with Sushi and others set to follow.
Once those whitelisted protocols have implemented a viable solution, Lobis will support them by fairly allocating its reserve governance tokens and acquiring liquidity bonds to support the peg of their wrapped tokens.
When more protocols implement Curve-like tokenomics, Lobis should naturally accept to launch reserve bonds with their governance tokens, but ultimately, the community will determine the next steps.
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