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Bond

Fixed income by lending assets to a protocol treasury. The asset loaned need not be the protocol token and is determined through treasury governance. Similarly, interest payments are not limited to just the protocol tokens.

Principles​

Smart contracts are utilised for storing tokens within the treasury as well as implementing rules based on governance votes. Token bonds are unlocked and claimed when matured.

Benefits​

  • Incentivises protocol-owned liquidity which leads to improved trust in the protocol token
  • Treasury reserves can be allocated based on DAO governance

Protocols​

  • Olympus

Questions​

What is the most important question this topic raises that current discourse tends to avoid or understate?

  • Which assumption in the standard framing of this topic is most likely to be wrong in a 5-year horizon?
  • How does the DePIN or agent-native lens change what matters most about this topic?
  • Which first principle, if violated, would make the analysis of this topic fundamentally incorrect?