Give OMM from the DAO Fund to everyone who donated to the Omm Recovery Fund

Give OMM from the DAO Fund to everyone who donated to the Omm Recovery Fund

With OIP 17 on track to be approved, the Omm community will be made whole from the exploit. The ecosystem participants covering the loss will receive a sizeable amount of OMM upfront (21% of the total supply), in addition to full repayment over time.

But what about those who donated to the Omm Recovery Fund? They did so to support the ecosystem in a time of need, even though there was no financial incentive to do so.

To remedy this, the Omm contributors would like to propose using OMM from the DAO Fund to repay the value of all donations, currently worth around $82,000:

60,329 bnUSD
7,419 USDS
57,459 sICX
169.5 BALN

Any questions, comments, or concerns about this approach? We welcome all input from the community before we submit this proposal for a vote.

1 Like

For me depends in what form you want to repay the donators. If you use the OMM to swap in the native currency they donated than it is a 100% no because it will plummit the price of OMM even further. If you are giving it in the form of 4years locked Bomm, in a way to say thank you, then it would be a yes.


I agree. I think it’s a nice idea to give the funds back but I don’t think it’s a good idea to give it back in OMM unless it’ll be locked up as bOMM. It’d just cause massive downwards sell pressure on OMM and cause further damage. These people donated funds not expecting them back so I expect they’d still be happy getting back funds even though it has a lockup period

If the plan is to give back the funds as OMM then I’d be a no vote too

It does seem like giving back users in bOMM form is possible. If so, do you guys have an idea of how long of a lock up period (up to 4 years) makes sense?

For me 4 or 2 years would make the best sense. If we go with 2 years the donaters can choose themselves if they want to extend it to 4 years. So 2 years would be a good option too.

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Yes,this sounds reasonable to me!