Olympus (DAO Fund)

The fund controlled by the developers of BASED Finance that conducts buybacks and acts as a reserve to help maintain the peg.

DAO Wallet Address:

The DAO fund is the second line of defense on top of the Bond Mechanism. The DAO fund is controlled by the Developers and will later move to a governance system to vote on using funds in certain areas of the project and outside including investment, marketing etc.
Information about the DAO is as follows:
  • When BASED TWAP is below 1, buybacks will be initiated by the DAO. These will be done at a time decided by the core team and not publicized until after the protocol is back in expansion to prevent front running.
  • When BASED TWAP is extremely high, the DAO will sell some BASED to help assist bringing back to peg and prepare its reserves for buybacks below 1.
  • The DAO fund will hold a range of assets at the discretion of the core team
  • The fund may or may not invest in safe projects to earn yield and grow itself at the discretion of the team.
All transactions made by the DAO can be found here.

10% of BASED Emissions will go to the Treasury(DAO Fund).