What is Lobis Finance (LOBI) | What is Lobis token | LOBI token

In this article, we'll discuss information about the Lobis Finance project and LOBI token. What is Lobis Finance (LOBI) | What is Lobis token | What is LOBI token?

Lobis is an Approved Olympus fork (oh yes) specialized to ensure that OlympusDAO can participate in DeFi governance. The OHMies heard our voice and joined our cause.

1. Our purpose is a representation of our shared values.

We believe that by strengthening the pillars of DeFi such as Curve we strengthen the whole ecosystem. Our long-term view on the pillars of DeFi such as Curve is focused on the increased adoption of decentralized finance. We want to normalize the idea of alliances that work in tandem to promote and grow protocols.

For example: allocating bonded CRV to tighten the peg of whitelisted lockers such as Convex, Yearn, and StakeDAO. Or directing liquidity towards partners in the ecosystem that act (3,3) towards Curve.

Our community determines a basket of governance tokens to back $LOBI. These reserves give anyone the ability to $LOBI, creating more voting groups through a meta governance token, a gateway to DeFi.

By enabling more voices to be heard each user in the ecosystem can find a policy based on their values and goals. A multitude of different like-minded groups increases the utility received by the users, resulting in the growth and betterment of the ecosystem as a whole, and to the benefit of all groups involved.

By disrupting the current monopolistic environment, we are giving other protocols the opportunity to create additional utility in DeFi and organize voting cohorts to all be active members of the ecosystem.

2. Our values define what we believe and how we act, our purpose is a representation of our shared values. Together they define our actions.

When the richest users hold all the power, these protocols do not belong to the people.

Today the leading DeFi protocols are seeing bribes, gauge voting, and flywheel locking mechanisms. Currently, these protocols are controlled by a select few, which limits representation, negatively affects the growth of the protocol, and enables this select few to consolidate control. Centralization.

Lobis is here to change that.

To serve our purpose we had to ensure that no one was pulling the strings behind us. Therefore, despite their attempts, we chose to have no VCs or seek out influencers and whales; we do not need them. We did not raise any funds and there is no team allocation.

Our community is instead united by our shared purpose and driven by bounties and grants.

Are we bold? Yes. Are we crazy? Perhaps, but who else was DeFi built for?

The founding team is building composable systems that anyone can build on top of. Following the launch phase, anyone can apply for a grant and fulfill bounties set out by the community and get rewarded.

We put the ecosystem first

Lobis is an open-source Protocol. Anyone can contribute. Our aim is to be decentralized and transparent, continually taking steps towards open-source development and community-led contributions.

To reach this vision we are implementing open-source frameworks to allow everyone, regardless of their wealth, to actively shape the future of Lobis.

A system of points, bounties, and rewards will incentivize contributions in every area of the DAO.

3. We are built to (3,3), anyone can buidl with us, anyone can shape the future of Lobis.

If how we think and act reconciles with you, you can contribute today.

The protocol is maintained by various independent developers or "Envoy’s" of Lobis and is governed by $LOBI holders. In the short time since our genesis, we have already onboarded Engineers, Creatives, Economists and started communities for Chinese, French and Russian communities.

Lobis is constantly evolving. What Lobis is today, may not be what it is tomorrow—what you do after reading this may change Lobis forever. It’s up to you.

This is the power of Open Source.

Come with your ideas, come with your passion, come with your creativity. Actions speak louder than words.

4. How do Olympus and Lobis work together?

Together with the OHMies, we aim to bring decentralization back to DeFi by backing the vision of OHM as a decentralized reserve currency and providing a solution to the issue of whales gaining control over other protocols due to imbalances in financial wealth.

By supporting our proposal, you will help to:

  • Position OHM to become the most widely used currency in DeFi by becoming the base pair for governance tokens such as CRV, FXS, oSushi, and more.
  • Generate fees for Olympus DAO through liquidity pairs.
  • Generate income for the Olympus Treasury in the form of governance tokens with every bond.
  • Increase Olympus Treasury directly by way of interest-free lending to Olympus of our governance token - LOBI.
  • Trigger an Airdrop to the Olympus community in the form of LOBI.
  • Leverage locks and boosts to generate the best yield on Olympus’ treasury assets.
  • Achieve significant exposure and governance over the entire DeFi ecosystem.
  • Enable projects that implement a Curve style locking mechanism to become more decentralized, reducing the existential risk of decision-making bottlenecks.

5. What’s in it for the OHMies?

Lobis focuses on governance and propagating OHM as a currency, while OlympusDAO will accumulate $LOBI tokens without further emission of OHM, increasing its backing.

Lobis will also enable Olympus to get access to the best yields in DeFi for its treasury assets and potentially gain the ability to participate in the governance of the ecosystem.

The Olympus team has guided Lobis with their experience and expertise in design to support the project’s launch. The project team will build and maintain Lobis under the stewardship of the OHM team and plans to integrate the OHMies as well.

Thus, Lobis is inexorably linked to Olympus by code, ethos, and long-term vision. This is not possible without the support of the OHMies, and to that end, we present the critical benefits to (3,3):

  • Facilitating the use of OHM as the sole global reserve currency of DeFi by pairing governance tokens with OHM for its liquidity. Lobis will acquire a considerable amount of OHM through liquidity bonds with a positive impact on sOHM APY.
  • The OHM community and treasury will get access to governance in the DeFi ecosystem through the governance rights on Lobis (on Curve, Frax, and in the future Sushi and others). If required, we can bootstrap the acquisition of governance tokens like CVX for Olympus per the most recent governance proposal so that Olympus can get governance power without harming its backing per token/RFV.
  • We will directly contribute income for OHM via Lobis bonds, with the Olympus’ treasury set to receive 1.1% (1,1) fee for every reserve or liquidity bond sold by the DAO.
  • We will become active participants in the governance of Curve, Frax, SushiSwap, and other relevant protocols.
  • The Olympus community will receive an airdrop at Lobis’ launch to bind together the communities.
  • Lobis will lend LOBI tokens with a 0% interest rate to Olympus, and Olympus will pair them with treasury OHM to provide liquidity on Sushi and Ohmieswap.

This collaboration will be mutually beneficial for Lobis and Olympus. The two protocols are complementary, with Olympus focused on building the sole decentralized reserve currency and Lobis, focused on decentralized governance. Together, our two DAOs will provide the infrastructure of a fair decentralized financial system.

What does it mean for my tokens?

How do I participate in Lobis?

There are two main strategies for market participants. Stakers stake their $LOBI tokens in return for sLOBI and the right to claim more $LOBI tokens, while minters provide LOBI/OHM LP or governance tokens (CRV, FXS) in exchange for discounted $LOBI tokens after a fixed vesting period.

How can I benefit from Lobis?

The benefits for stakers come from supply growth and governance power. The protocol mints new $LOBI tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for bonders comes from price consistency. Bonders commit capital upfront and are promised a fixed return at a set point in time; that return is in $LOBI and thus the bonder's profit would depend on $LOBI price when the bond matures. Bonders benefit from a rising or static $LOBI price.

When a bond enables to increase the reserves of the DAO, a new $LOBI is minted and distributed to sLOBI holders. The minting rate is 1 $LOBI for each $1 worth of governance token or LP token bonded. The contracts use Chainlink price feeds to calculate the amount to be minted.

At first, Lobis will accumulate CRV and FXS and lobby to incentivize whitelisted protocols to move towards fairer, more governance-friendly locking mechanisms (today, neither Yearn, Convex, nor Stake DAO allows CRV stakers to keep their Curve governance rights).

As part of this goal, Lobis will offer bonds for CRV and FXS, with Sushi and others set to follow.

Once those whitelisted protocols have implemented a viable solution, Lobis will support them by fairly allocating its reserve governance tokens and acquiring liquidity bonds to support the peg of their wrapped tokens.

When more protocols implement Curve-like tokenomics, Lobis should naturally accept to launch reserve bonds with their governance tokens, but ultimately, the community will determine the next steps.

Staking

  • Staking is the primary value accrual strategy of Lobis. Stakers stake their $LOBI tokens on Lobis Website to earn rebase rewards. The rebase rewards come from the proceed from bond sales, and can vary based on the number of LOBI staked in the protocol and the reward rate set by monetary policy.
  • Staking is a passive, long-term strategy. The increase in your stake of LOBI translates into a constantly falling cost basis converging on zero. This means even if the market price of LOBI drops below your initial purchase price, given a long enough staking period, the increase in your staked LOBI balance should eventually outpace the fall in price.
  • When you stake, you lock LOBI and receive an equal amount of sLOBI. Your sLOBI balance rebases up automatically at the end of every epoch. sLOBI is transferable and therefore composable with other DeFi protocols.
  • When you unstake, you burn sLOBI and receive an equal amount of LOBI tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked LOBI (if any) will continue to receive rebase rewards.

Minting

  • Minting is the secondary value accrual strategy of Lobis. When users mint LOBI tokens, they are actually selling their assets in order to buy a bond from the protocol. Minting Actions are a cross between a fixed income product, a futures contract, and an option. The protocol quotes the minter with terms for a trade at a future date. These terms include a predefined amount of LOBI the minter will mint and the time when vesting is complete. The bond becomes redeemable as it vests. I.e. in a 5-day term, after 2 days into the term, 40% of the rewards can be claimed.
  • Minting is an active, short-term strategy. The price discovery mechanism of the secondary bond market renders mints discounts more or less unpredictable. Therefore minting is considered a more active investment strategy that has to be monitored constantly in order to be more profitable as compared to staking.
  • Allowing users to purchase bonds through Minting allows Lobis to accumulate its own liquidity. We call our own liquidity POL. More POL ensures there is always locked exit liquidity in our trading pools to facilitate market operations and protect token holders. Since Lobis becomes its own market, on top of additional certainty for LOBI investors, the protocol accrues more and more revenue from LP rewards bolstering our treasury.

Max Supply: 20,682 LOBI token

How and Where to Buy LOBI token?

LOBI token is now live on the ETH mainnet. The token address for LOBI is 0xdec41db0c33f3f6f3cb615449c311ba22d418a8d. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps

What is Metamask wallet | How to Create a wallet and Use

Transfer $ETH to your new Metamask wallet from Binance wallet

Next step

Connect Metamask Wallet to Uniswap Decentralized Exchange and Buy, Swap LOBI token

Contract: 0xdec41db0c33f3f6f3cb615449c311ba22d418a8d

Read more: What is Uniswap | Beginner's Guide on How to Use Uniswap

The top exchange for trading in LOBI token is currently: Uniswap v3 and Sushiswap

Top exchanges for token-coin trading. Follow instructions and make unlimited money

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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

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