Building on the previous announcement (where we unveiled OLAS and the Balancer's OLAS-xDAI pool) and the AIP-1 proposal and corresponding roadmap, a governance vote has been accepted to launch the first OLAS bonding campaign with Balancer's OLAS-xDAI pool. This campaign aims to bolster significant liquidity for the OLAS-xDAI Balancer pool on Gnosis Chain! This marks a pivotal step towards implementing AIP-1, which aims to enhance liquidity for utility token OLAS across multiple trading pairs and chains, diversify the Olas treasury, and help OLAS stakers on Gnosis Chain.

The campaign encompasses several bonding programs, each with specific OLAS price thresholds*, vesting times, and supplies. Specifically, the bonding programs are described as follows:

1: Two programs with

• Same OLAS price: 0.5 cents
• Same program supply: 27500 OLAS
• Different vesting time: 90 days and 45 days

2: Two programs with

• Same OLAS price 0.55 cents
• Same program supply: 65000 OLAS
• Different vesting time: 90 days and 45 days

3: Two programs with

• Same OLAS price 0.6 cents
• Same program supply: 125000 OLAS
• Different vesting time: 90 days and 45 days

4: Two programs with

• Same OLAS price 0.65 cents
• Same program supply: 180000 OLAS
• Different vesting time: 90 days and 45 days

5: Two programs with

• Same OLAS price 0.70 cents
• Same program supply: 200000 OLAS
• Different vesting time: 90 days and 45 days

6: Two programs with

• Same OLAS price 0.75 cents
• Same program supply: 180000 OLAS
• Different vesting time: 90 days and 45 days

7: Two programs with

• Same OLAS price 0.80 cents
• Same program supply: 125000 OLAS
• Different vesting time: 90 days and 45 days

8: Two programs with

• Same OLAS price 0.85 cents
• Same program supply: 65000 OLAS
• Different vesting time: 90 days and 45 days

9: Two programs with

• Same OLAS price 0.90 cents
• Same program supply: 27500 OLAS
• Different vesting time: 90 days and 45 days

The bonding campaign with the Balancer's OLAS-xDAI pool, is launched on the Ethereum network. To participate, bonders need to complete the following steps:

1. Acquire OLAS on Gnosis Chain or bridge OLAS from Ethereum mainnet to Gnosis Chain.

2. Provide liquidity by adding OLAS and xDAI assets to the aforementioned pool thereby obtaining the corresponding LP-tokens.

3. Bridge the LP-shares back to Ethereum using the OmniBridge, which results in bridged LP-shares on Ethereum.

4. Deposit the bridged LP-shares into one of the available bonding programs.

Upon completion of these steps, at bond maturation, bonders are able to redeem their OLAS on Ethereum mainnet. Consequently, bonders will conclude their journey with OLAS on Ethereum network and the DAO will retain ownership of the bridged LP-asset on Ethereum.

For more technical details about bonding, see AIP-1, the tokenomics paper, and blog post about inaugural bonding programs on Ethereum.

*The OLAS price assumes a fixed xDAI price at the time of proposal of roughly $0.60. As the relative prices change the incentive for bonders participating in the bonding program changes too