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Initial Staking & Bonds
Abachi will launch with a slightly modified take on bonds on initial staking.
Note: This is still under discussion with the policy and dev team. It may be changed significantly before launch based on recommendations in dev, policy or audit. We are publishing this as our current working idea.
ALL bonds are vested over 10 days. The discounts are also proportionally higher.
1. ABI-DAI - Liquidity BondThis is the initial bond to capture any liquidity so that the protocol can own it. This is not our primary concern to grow the treasury. The discount on these will be at market price par or may even be at a premium based on auction and treasury reserves outcome.
Currently we estimate discount may be between 2%-5%.
2. ABI-gOHM - Liquidity Bond
This is the secondary bond that will be offered. Abachi will not provide any initial liquidity for this pool but has partners lined up in the OHM community that will be able to provide this. The discount on these will be at market price par or may even be at a premium based on auction and treasury reserves outcome.
Currently we estimate discount may be between 2%-5%.
3. gOHM - Primary Bond
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.
Last modified 4mo ago
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