Decentralized storage project Olympus plans to buy more ether (ETH) to back its OHM token after members approved a new reserve fund framework on Friday.
According to the proposal, about $16 million worth of DAI and $20 million worth of ETH are deployed in the current POL pool.
While the finance team recognizes the importance of pools, it is recommended to reduce the OHM/ETH pool by $10M (and possibly increase the OHM/DAI pool) and increase the funds available for LSD or other ETH opportunities.
ETH liquidity can be supplemented through BLE pools and/or other third-party liquidity.
Relwyn, an anonymous analyst with the Olympus financial team, said that the goal is 75% stable currency and 25% directional exposure, and a slight increase in ETH exposure without compromising the relative stability of OHM’s short-term support is A step in that direction.
Purchasing additional ETH through community votes will allow Olympus to maintain a more balanced reserve fund, providing greater liquidity to the OHM token and increasing its long-term growth potential.
Olympus DAO continues to demonstrate its commitment to creating a sustainable and decentralized financial system that benefits all participants.