Sunsetting Omm Discussion

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:

  1. Distribute the fees accrued in the DAO fund (136,518 sICX) to users based on their bOMM balance
  2. 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.

I think this is the best path, does a snapshot make sense to avoid gaming this?