Based on the new direction by the ICON Foundation, Omm’s liquid staking service won’t be needed in the foreseeable future as ICON L1 shuts down. As a result, Omm early contributors would like to propose sunsetting the Omm protocol. Here are next steps we are proposing for the liquid staking protocol:
- Distribute the fees accrued in the DAO fund (136,518 sICX) to users based on their bOMM balance
- Let users unlock their bOMM
We are also discussing best ways to unwind previous money market deposit & borrow balances, so bnUSD depositors can get some of their capital back given its 100% utilization rates. If you still have assets deposited into the money market, please withdraw them as soon as possible since the money market will also sunset completely.