gOHM will launch at the greatest discount. Until the treasury reaches a 50% balance in OHM, this will be the primary discounted bond. Currently we estimate this may be between 7%-15%.
4. DAI - Primary Bond
The DAI bond will perpetually be in a discount (our opinion). This is because we are confident the gOHM inflows will keep pushing the balance up along with their rebases. To offset this, the protocol must discount DAI bonds and offer these up to bring in more DAI. Currently we estimate discount may be between 5%-10%.
An astute observer will notice that it may be possible to secure ABI on launch at a discount. This is true. It needs to be noted that since the treasury also rebalances ABI in the market every 2 weeks, it will be removing ABI from circulation, the treasury also provides basic price support by again burning ABI. To capture a higher market cap and stake in the protocol, the buyers of ABI must determine what is the best price to acquire it when compared to the bonding vesting period.