As of today Abra’s traction on Arbitrum has very solid but could be improved. At the time of this writing, over 6 million MIM in the ETH cauldron are sitting unused.
I would like to introduce a new project being launched on Arbitrum: Akame Dao.
Olympus DAO fork with large treasury ambitions, sustainable project goals similar to $TIME (not a pump and dump)
Advised by Xenesis, member of the Dopex team
Initial Bonds will be MIM, followed by MIM-AKAME Token, WETH, DPX, rDPX bonds
CRV & CVX Bonds potentially to come after, feasibility being explored given veCRV & CVX only live on Mainnet
5/7 multi-sig, given the MIM connection the team humbly requests a short conversation with Daniele regarding deeper Abra integration and offers Dani or an Abra team member a role on the multi-sig
Intense focus on using portion of treasury for charitable causes in real world. Focus on blood-related diseases, blood-related research, blood donations, and charities focused on providing aid, tampons, and sanitary pads to residents of underprivileged areas around the world
One of our advisors (Xenesis) is in the process of setting up a non-profit DAO that will focus on humanitarian issues across the globe and will allow DeFi protocols/DAOs to fund operations/charity work by donating some of their treasury at the end of each month.
Due to Akame DAO having an advisor linked with this project, we will be the first DeFi protocol/DAO to contribute to this initiative. The treasury allocation we will use for donations as well as the charities/NGOs/Non-profit humanitarian aid groups will be voted on exclusively by stakers of our native token.
Arbitrum network lacks traction of some others chains (e.g., AVAX), and needs a catalyst to increase activity on this very important piece of the the Ethereum network. Akame Dao and Abracadabra can work together to help create this catalyst by integrating more tightly, providing value creation to users, and make the world a better place through charitable donations to people who need it.
This is a great idea! Crypto needs more projects with greater volume on Arbitrum, and this would further catalyze that movement. The charitable aspect seems more compelling to me than carbon credits.
We’ve been seeing a lot of demand on Arbitrum as well and think the future of the rollup is bright. Would be good to get liquidity support since MIM is used widely across the ecosystem. +1
I think this has the potential to generate a lot of use for the ecosystem. We’ve historically seen Olympus forks move a lot of volume, and the lockup of assets in the treasury of such protocols will be an additional help to the demand for MIM on Arbitrum via reduction in supply.
I would not suggest supporting pump and dump schemes, but this project is showing every indication so far of being legitimate in its intention to become part of the ecosystem.
This is an ambitious new project on Arbitrum with real-world charitable ambitions and the desire to increase MIM demand on Arbritrum.
I certainly understand hesitation with yet another OHM fork, however looking beyond the memes here (which are top tier btw), there are true underlying ambitions and a desire to secure further credentialed multi-sig in addition to @xenes1s.
As an advisor of Akame DAO, I think that having Akame DAO partner up with Abracadabra would be an easy way to boost MIM demand and adoption on Arbitrum; along with boosting the TVL on Arbitrum and onboarding more users.
Trust and transparency is a key component in any DAO or DeFi protocol as it helps to build a dedicated community/collective founded on solid fundamentals. That is why having Dani or someone from the Abra team on the Akame DAO multisig and/or as advisors would be +ev for all parties involved.
I do hope you consider this proposal. Thank you! +1
MIM demand will increase substantially thanks to Akame DAO and a lot of Abracadabra related products will most likely be used in the treasury’s strategies.
+1 on the proposal.
This could be useful for everyone, MIM unused could be helping Akame DAO and Arbitrum to get more activity and improve the entire system. The donation system is innovative and connected to a big part of Dopex…i support this proposal!