> **Welcome to the Lobis Times - our community-run newsletter.**
>
> *Dropping updates and alpha every two weeks.*


---

**Headlines**

* Editorial from the Lobis Times staff
* LIP-17: Pause Rewards to Support Price - APPROVED
* Token Swap with Stake DAO - COMPLETE
* LIP-18: Proposal to Whitelist FXS Locker - DELAYED
* New Office Hours
* Poker Night - Bounty Alert!
* Lobby Chats
* Tweet of the Week
* A Work of Art
* Speaking of Revolution….


---

**Editorial from the Lobis Times staff**

Looks like volatility is here to stay.

The market continues to punish rebasing models, and Lobis is no exception. Prices go up and prices go down. Value creation is never a straight line up and to the right. When you’re building for long-term success, the best thing to do is to ignore short-term market fluctuations, keep your head down, and work.

But it would be naive to ignore the elephant (or is it the bear?) in the room. The price of LOBI remains stubbornly below the backing value of our treasury, and this prevents us from using our main value-accrual strategy of bonding.

After a healthy debate the community decided to pause the bond/stake/rebase flywheel. This stabilizes our supply and gives the protocol firm footing and a clear path forward. It’s only a matter of time until the market recognizes the screaming value of LOBI.

In the meantime, work continues behind the scenes with the upcoming refresh to our U/I and the launch of the Voting Booth. There’s also a big partnership in the works - the details are still being hammered out. We can’t make the announcement just yet, but if you’ve been active in the Discord you may have picked up some breadcrumbs that have accidentally been dropped here and there.

The landscape of crypto has changed since our launch. Gone are the days when all it took to get massive capital inflows was a high APY and some shitposting. Yes, things have changed, but Lobis’ mission remains the same - to push back against the centralizing forces looking to control some of the most important money legos in DeFi.

Guardians of Governance are needed now more than ever.

We’ll be rewarded for our efforts in more ways than one.

**LIP-17: Pause Rewards to Support Price - APPROVED**

The community voted by an overwhelming margin of 99.87% to put a temporary pause on rebasing in order to support the price of LOBI and help lift us back above treasury value.

The treasury bootstrapping system that Olympus pioneered through bonding and staking relies on a token price trading above its intrinsic value. Should the token price fall below backing, the flywheel breaks. Bonding turns from value gain into value drain. Rebasing turns from inflationary into deflationary. With this forward-looking vote, the community has elected to pause the broken flywheel until it’s profitable to turn it back on.

With our staked treasury assets earning approximately $75,000 worth of rewards each week, we will continue to increase the underlying value of the protocol without further diluting the governance power of LOBI.

It’s impossible to say when the market will take notice. Crypto isn’t exactly chock full of value investors. But undervalued assets always get recognized and repriced. Always.

We will resume rebasing and reissuing bonds when our market price crosses 1.33x backing.

Until then, the number of tokens in our treasury is Up Only.

**Token Swap with Stake DAO**

We completed our second DAO-to-DAO token swap with Stake DAO - this time for $250k. One more swap to go.

Stake DAO has been one of our earliest and most stalwart supporters. This token exchange further cements the partnership between our two protocols.

👀 Looking ahead 👀 Stake DAO’s Liquid Lockers are coming soon to a mainnet near you. This innovative feature unlocks the full potential of veTokens and will allow us to deploy our treasury in all kinds of interesting and profitable ways. Yield without giving up governance rights? Yes please. We’re ready to join the Herd and Stake!

**LIP-18: Proposal to Whitelist FXS Locker - DELAYED**

The Policy Team is looking at all the available options to deploy the FXS in our treasury, and is asking the community for it’s opinion on which lockers to whitelist.

Once we select our lockers, the Policy team will find the best allocations.

This vote has been delayed due to the incooooming FPI airdrop for FXS holders.

**Poker Night - Bounty Alert!**

It’s back-to-back wins for the reigning champ leRaph who secured yet another impressive poker victory.

During heads-up play leRaph was down to a handful of chips and some pocket lint, yet he somehow managed to bluff, bully, and battle his way back to victory.

The next Poker Night is going to be absolutely critical for leRaph’s legacy. There are rumors that if he three-peats he will change his Discord handle from leRaph (III,III) to leRaph (dynasty,dynasty). This can NOT be allowed to happen, so we are announcing a special Bounty for our next game.

The player who takes leRaph out of the competition will be rewarded with a 3 LOBI prize.

This is in addition to the usual prize pool of 10 LOBI and the coveted Discord role of Poker God that gets awarded to the last one at the table.

But you gotta be in it to win it.

Keep your eyes glued to the Discord Announcements for the date of our next game.

**New Office Hours**

The best way to connect directly with the founders and core team is during our official office hours.

Office hours are held in the AMA with core-team voice channel on the Discord every Monday at 3PM UTC or 9PM UTC (alternates week to week) and Thursday at 3PM UTC

Bring your questions, your suggestions, your constructive criticism, and honest feedback. Leave your FUD for that robot zombie Elon dog NFT project you aped into.

**Lobby Chats!**

Introducing: Lobby Chats! 

New series of weekly Twitter Spaces 'podcasts', called Lobby Chats, where we will be discussing everything that is somehow related to the Lobis' ethos; dGov, DeFi, metagovernance, Liquidity Wars, policy, Olympus. Special efforts will be made to capture the largest audience possible; special guests from CT and more, intriguing headlines and a framework for each chat tailored to the topic and a community guest to keep a fun and entertaining flow of conversation. 

The podcasts will take place on Thursdays, at 7pm UTC, just before the poker nights (which will be shilled wholeheartedly!). An additional incentive to join our discord, to interact and engage with Lobis! 

Since it's a "lobby", conversations don't have to be necessarily too formal. A little bit of humor and verbal shit-posting won't hurt—however let's not fall for too degenish/childish level of conversation. Not boring lectures about boring things anyways! 

Lobis' vision is exciting! To simplify it; we are drifting around money and power— two of the most desirable things to homo sapiens— so let's gather everyone around the Lobby desk and share our enthusiasm for Lobis.

**Tweet Of The Week**

One of our favorites around the Discord is the ever-present CrabsAndTaxes. Take a moment to recognize the wisdom he’s laying down on CT - that we are all part of the EconOHMy and that the Olympus community is all about collaboration and coexistence.

WAGMI. Together.

[https://twitter.com/Brentendo6/status/1491889569423372295?s=20&t=kvyBoECguNdNLRrE6Dt7_A](https://twitter.com/Brentendo6/status/1491889569423372295?s=20&t=kvyBoECguNdNLRrE6Dt7_A)

**A Work of Art**

If you haven’t seen !AMS5’s handiwork yet you’re missing out. With a sharp eye and a deft hand, !AMS5 takes some of the most iconic images from history and improves them with a (III,III) update. Check out his latest work of art.

The revolution will be memed!

![La révolution by !AMS5](https://images.mirror-media.xyz/publication-images/P3-Oydhdkhf8shmuunxCB.jpeg?height=501&width=750)

**Speaking of revolution….**

Revolution is an act of hope. But real change only comes if we all pull together. If you’re looking for a project where you can make a big impact, pop into the Discord and join one of our work DAOs.

Don’t know where to start?

The Wardens of Lobis are always patrolling the halls of the Discord, ready to answer your questions and serve up tasty copypasta with a side of sauce.

Till we meet again my frens,

The Lobis Times

The Lobis Times - VI edition

*Authors:  OhmlyFans, Raph, SCNightShade, Kiann, Tomato Soup* 

![Envoy's addressing delegates from strategic partners in Parliament c. Jan 2022](https://images.mirror-media.xyz/publication-images/B9c_-9YOmlyMnCfrFgLih.png?height=1524&width=2826)

**New Year, New Lobis!**

The last few months have been challenging for most crypto investors, but 2022 is shaping up to be a year full of promise, particularly for Lobis, as governance broadly takes center stage.  And as the recent slate of announcements would suggest, we have responded accordingly and remained aggressive in our pursuit of major initiatives and partnerships – allowing Lobis to usher in the new year with renewed prospects, vigor, and excitement!  

**Expanded Core and Team Structure** 

Chief among those developments was the announcement of the expanded Core team.  What began as a group of five innovative and enterprising Founders, will now be a fully-fledged group of twenty, consisting of existing Core and some of our most active and devoted members. The impetus for such a move stems from Lobis’ transition from the Launch Phase into Expansion and the need for greater depth and breadth. In order to best ensure that Lobis can capitalize and execute on our broader mandate, the team deepened its bench significantly, across all core competencies, the result of which is below:

![](https://images.mirror-media.xyz/publication-images/f1Ml_BuYlMuMjiR1WXNLB.png?height=1070&width=1948)

As you can see from the chart, the new Core also brings with it a new Team Structure, one designed to maximize accountability and productivity.

Sub-DAO/ Department groups have been established for Community Management, Growth, Engineering, Policy, Marketing, and Operations, which are led by appointed or elected managers from the new Core Team. These leads, as denoted by the Lobis Logo in the chart, are responsible for their respective Sub-DAO deliverables as well as general management therein. We are also happy to announce that these positions will be compensated for the first time at Lobis, to actively reward contributors for their time.

With any meaningful shift within an organization, we are reminded of the need to walk before we run. With that in mind, all of the aforementioned changes will go into effect for a 1-month trial period, after which point new Core members can be maintained, upgraded to full-time, downgraded to part-time, or cut completely. In other words, even with these sweeping changes, Lobis’ meritocracy remains fully intact!

![@icecube finalizing terms of initial liquidity with Olympus liaison c. Oct 2021 ](https://images.mirror-media.xyz/publication-images/m9ItMbAEmijPXImfTWFO7.png?height=2025&width=3140)

**Open-Source Vision**

While much of the discussion has touched on heightened structure internally, please do not mistake that for bureaucracy! Quite the contrary in fact, as Lobis is migrating to an open-source workflow. We recently launched our Open Notion dashboard, a workflow tool that will allow teams to: 

* Actively manage and monitor tasks in real-time, 
* Post bounties for any and all Lobbyists to pursue, 
* Provide full transparency of the ongoing work throughout the DAO.

We expect that Open Notion will serve as a catalyst for improved accountability and efficiency, particularly as our scope of work is widening to such a degree. We encourage you all to take a look and familiarize yourself with the platform…and join us in becoming Open Notionoooooooooors! => <https://www.notion.so/lobis/Lobis-Notion-d19ff2f0ef894d65a73a62aff9024e1a>

 
 **Call to Action: Get Involved Anon!** 

![@maegner preparing the senators c. Dec 2021 ](https://images.mirror-media.xyz/publication-images/U4I4hs85mrhviTUzQRIAU.png?height=2430&width=3937)

If any of the messaging above was too subtle, let us be clear in saying we want and need you!  After all, an organization is only as good as the people within!  With a sound foundation now in place, we are enlisting all Lobbyists to help us build the Ivory Tower of Governance.  Lobis’ new model is intended to afford access to, encourage and incentivize all Lobbyists to engage and contribute. We are looking for people of all backgrounds and skill-sets, so please do not be bashful…and apply!  

Should anyone have an interest in joining the Community, Creative, Marketing, Policy or Operations teams, we invite you to fill out this form: <https://airtable.com/shrmdQcN1fx96ySTi>.    

As always, we remain vigilant in our quest to find the best available engineering/development talent to join our ranks. With the implementation of Open Notion and eventually Kleoverse, we will unveil a more robust Bounty Program for those in search of ad-hoc opportunities. In the interim, current “Open Issues” can continue to be found in our Github: <https://github.com/LobisHQWorkspace>.   

For the gigabrain developers who prefer a part or full-time role, please fill out the following form and/or reach out to a Core team member: <https://airtable.com/shr6RRHSFah8bZMv2>.     

That’s it for now, thanks for reading – hopefully you enjoyed the latest update. Until next time…WAGL, WAGMI!  


---

If our values and behaviors reconcile with you, you can contribute today.

**[Join our discord](https://discord.gg/lobishq), join the DAO.**

**[Our Twitter](https://twitter.com/lobishq)**.

**END.**

Official Notice: Lobis DAO Expansion

Lore: Sophocles, Ajax “***Aias”*** ([/ˈeɪdʒæks/](https://en.wikipedia.org/wiki/Help:IPA/English) or [/ˈaɪ.əs/](https://en.wikipedia.org/wiki/Help:IPA/English)).

[https://en.wikipedia.org/wiki/Ajax_(play)](https://en.wikipedia.org/wiki/Ajax_(play))

!["Parliament in action" circa December 2021.](https://images.mirror-media.xyz/publication-images/4WfWrAkXsq31NwhmLfZ86.png?height=1029&width=1660)

The time to [$LOBI](https://etherscan.io/address/0xDEc41Db0c33F3F6f3cb615449C311ba22D418A8d) is now.

Lobis is happy to announce the first round of Parliamentary elections for emissaries, starting with Community Managers.

**In order to foster participation in this exceptional event, Lobis will reward members who actively participated during the election period (candidates and community).** 

> If you join the twitter spaces, increase engagement by sharing and vote on the final Snapshot, you’ll be eligible for a special Christmas present(s).


---

## Details

As per [LIP-6](https://snapshot.org/#/lobis.eth/proposal/0x772f901296e103550eb225e52b9dda67f1832f8bf9c5d5664daaf03adeb5ad14), the community will vote on our Community Growth Managers, in term for 3 months, following election by snapshot after a one-week campaign trial.

A maximum of 3 Community managers can be elected.

### Community Managers will have delegated powers to:

Request budgets for any activities that enable us to:

* Support the community on Discord (Educate, Love, Engage). Including ability to rework discord or twitter. 
* Create, Find, and Organise the (Degen) Meme content. 
* Grow the Twitter account to Implement social media strategies to increase engagement & followers. 
* Collaborate with the Growth Marketing Team and other working groups.

### Incentives

Elected Emissaries will receive monthly grants based on performance as specified in LIP-6. (link)

**Fixed:** Sent monthly from DAO Operational Treasury. 

2 $sLOBI.

**Variable:** On the basis of achievement of targets such as community engagement, satisfaction, and growth.

0\.5 $sLOBI Low-Optimistic targets.  
 1.5 $sLOBI Medium-Optimistic targets.  
 3 $sLOBI You’re freaking good and GMI.

### Voting

The process is simple:

1. Candidates must fill out [this form](https://airtable.com/shrn5dbDheTu13UiL). 
2. Start their campaign trail on social media e.g. Twitter and Discord to share their Community Growth Strategy rally for support. 
3. Join a Twitter space to come to court and share their vision with our community.

> After all activities have been concluded or by December 28th whichever comes first, ranked polling will be conducted on Snapshot using sLOBI to decide which Community Managers will be elected for the role.

**We encourage all the existing applicants and new volunteers to start their campaign trails on social media or in the metaverse.**


---

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.**

If our values and behaviors reconcile with you, you can contribute today.

[Join our discord](https://discord.gg/lobishq), join the DAO.

||| [Our Purpose](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/_03gBlOfjjDfHYfmnyop0_StMewedHGHmvFlrtkX-PI) ||| [Our Values](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/pwTM_bK7BBmCw0ypezVFvyzwuFPuYKoC487gPP1PC_U) ||| [Our Forum](https://forum.lobis.finance) ||| [Our App](https://app.lobis.finance) ||| [Our Docs](https://lobis.gitbook.io/internal-wiki/) |||

**END.**

Official Elections: Project Ajax (/ˈeɪdʒæks/ or /ˈaɪ.əs/)

!["They lose the day in expectation of the night, and the night in fear of the dawn." - Seneca](https://images.mirror-media.xyz/publication-images/jrrbWx0KuiJ735fI2a1gp.png?height=1823&width=2600)

Lobis DAO is growing fast and needs dedicated Emissaries to help enable the community to grow and prosper. As per LIP-6, we are looking to recruit a team of 2-3 to continue taking care of our community through improved information sharing and engagement.


---

## Community Emissaries will:

> * Support the community on Discord (Educate, Love, Engage)
> * Coordinate with the Marketing Sub-DAO to assist with Community growth (Discord and Twitter) examples include:
>
>   \-- Create, Find, and Organize the (Degen) Meme content
>
>   \-- Grow the Twitter account

## If selected by the community you will get: 

> * Fixed: 2 sLOBI 
>
>   Variable on the basis of achievement of targets set at the beginning of the mission
>   * 0.5 sLOBI Low-Optimistic targets
>   * 1.5 sLOBI Medium-Optimistic targets
>   * 3 sLOBI You’re freaking good and GMI

 
 If this sounds like the right fit for you [apply here](https://airtable.com/shrn5dbDheTu13UiL).


---

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.

||| [Our Purpose](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/_03gBlOfjjDfHYfmnyop0_StMewedHGHmvFlrtkX-PI) ||| [Our Values](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/pwTM_bK7BBmCw0ypezVFvyzwuFPuYKoC487gPP1PC_U) |||

If our values and behaviors reconcile with you, you can contribute today.

[Join our discord](https://discord.gg/lobishq), join the DAO. 
  
 **END.**

Official Bounty: Project Seneca

![10 sLOBI, 5500 degens.](https://images.mirror-media.xyz/publication-images/n_zlKL0xreHliP8PcbWxm.jpg?height=4785&width=3317)

## Calling all Designers, Artists, and Shitposters!

The long-awaited Lobis Branding Asset contest is live! **This is an opportunity to become part of DeFi history.**

Winning submissions will earn sLOBI and be minted into NFT’s with 70% of the royalties sent to creators. The remaining 30% is set aside to be used decided by the community.

**By the many, for the many.**

* Anyone can enter, earn rewards for building with the DAO and earn future rewards via royalties.
* The community decides who wins.

The guidelines are simple, translate the culture of Lobis into Emojis, Memes, Banners, and Video and earn rewards.

> **Inspiration:** As a community, we are united by our [shared values](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/pwTM_bK7BBmCw0ypezVFvyzwuFPuYKoC487gPP1PC_U) so submissions should build on top of our current culture. You can also use the imagery in our [Posts](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2), [Twitter](https://twitter.com/lobishq) and [Discord](https://discord.gg/nhvbmDt7U4).


---

![No man is an island entire of itself; every man is a piece of the continent, a part of the main;](https://images.mirror-media.xyz/publication-images/NJJmdqznVkWEirFVeL0Nv.png?height=1447&width=1885)

**Voting**

* We will use dedicated channels on Discord to decide on the community’s favorite artwork(s) and vote on one category at a time.
* The voting process is via reactions, 1 emoji reaction = 1 “upvote”.
* Submissions will be ranked by the number of reactions and the winners will be chosen according to the framework above.

**Roadmap**

1. Dec 7  - Dedicated Discord Channels to showcase work. Artists can receive feedback to improve their work together with the community. Can still submit.
2. Dec 13  - Emoji pack submission deadline. Discord voting Dec 14.
3. Dec 20 - Images & Banners submission deadline. Discord voting Dec 21.
4. Dec 27 - Animated Video submission deadline. Discord voting Dec 28.

**How to submit**

You can join the contest by submitting on [Notion](https://lobis.notion.site/Branding-Asset-Contest-804e07710b834e3bb078b67f487dc053). You can make submissions to multiple categories.


---

### Emojis

!["The best and most beautiful things in the world cannot be seen or even touched. They must be felt with the heart" - Helen Keller](https://images.mirror-media.xyz/publication-images/MuZYUMUqfDHRuDPSSVE8m.png?height=1790&width=2490)

> **Task:** Create a pack of 25 Emoji's to customize our Discord Channel.
>
> **Prizes:** 1st place by votes earns 1.5 sLOBI, 2nd place earns 0.5 sLOBI.
>
> **Voting:** Submit by Dec 13. 1-day voting via discord on Dec 14.

### Memes

!["a good project and strong team in a predictable and transparent roadmap, planned and projected, i think in the near future we will see an unprecedented growth of this project." - @DegenSpartan (Hentai, Senpai)](https://images.mirror-media.xyz/publication-images/CxFjzLxhjGt7My8K8vmat.jpg?height=2260&width=3228)

> **Task:** Design memes to be shared on Twitter and Discord. Bonus points for easter eggs and representing our Purpose and Values.
>
> **Prizes:** Top 10 memes get 0.2 sLOBI each.
>
> **Deadline:** Submit by Dec 20. 1-day voting via discord on Dec 21.

![Inspirational.](https://cdn.quotesgram.com/img/53/44/1606685862-abraham-lincoln-dildo-quote-meme.jpg)

### Banners & images

!["A picture is worth a thousand words" - Unknown](https://images.mirror-media.xyz/publication-images/aNBpdSleOjuVJjxgWXAPs.jpg?height=1854&width=2672)

> **Task:** Create professional looking banners and images for Articles and Docs.
>
> **Prize:** Top 10 earn 0.2 sLOBI each, 10-20 earn 0.1 sLOBI each.
>
> **Deadline:** Submit by Dec 20. 1-day Voting on discord via emojis on Dec 21.

### Video

!["Lobis is constantly evolving. What Lobis is today, may not be what it is tomorrow"](https://images.mirror-media.xyz/publication-images/ic7aI6wq0GiaZPGgU0vfy.jpg?height=1936&width=2672)

> **Task:** A creative video about Lobis.
>
> **Prizes:** 1st place earns 3 sLOBI.
>
> **Voting:** Submit by Dec 27. 1-day voting via discord on Dec 28.


---

If our values and behaviors reconcile with you, you can contribute today.

**[Join our discord](https://discord.gg/lobishq), join the DAO.**

**[Our Twitter](https://twitter.com/lobishq)**.

**END.**

Official Bounty: Brand Asset Competition! 

## Intro

In the First Envelope, we explored the purpose and values of Lobis. Since then we have launched and taken the first steps towards building a better future for us all.

![credit: aleks#1295](https://images.mirror-media.xyz/publication-images/F90zR9_ElzkUf3-6QZs8z.jpg?height=1509&width=1456)

### The first 72hrs

**Pathway to decentralized decision making**

Having an allocation for team members, VC’s, influencers or other investors would mean that insiders control Lobis. It would also enable external entities to centralize control and provide an outsized risk to LPs.

Clearly, this would be to the detriment of our independence and to the vision of DeFi. We could not lock Lobis in golden chains. We could not reconcile with such actions.

We proposed that there would only be Lobis, Olympus, and the community. This is what we did to make it happen.

We made Olympus and the OHMies our largest community members. True to our word an initial supply of 15,000 $LOBI [was minted](https://etherscan.io/tx/0x676dd52bddb94dbd40c6d1d277bfe67a4594e8ec9d9abce670c72d9411d42d36), 12,500 of these were [sent to OlympusDAO](https://etherscan.io/tx/0xf949ee888b8b4ca17b330f47107ef6aecfbc8ecd54091c016f3c2b4f7b979076) with 2,500 [set aside for the airdrop](https://etherscan.io/tx/0x4deae08b1a90ff2cf13095c9427a8b59b6cde1d5a589278b0d87777ccf61a960).

**OHM**

As per [OIP-44](https://forum.olympusdao.finance/d/372-oip-44-implement-lobis-as-a-governance-arm-of-olympusdao), Olympus DAO provided initial liquidity for Lobis by [pairing 6000 OHM ($5m) with 12,500 $LOBI tokens](https://etherscan.io/tx/0x744b3e784f2a15a1dab064e2b59a536de7d4b87a96ac53a7de8d2f03d51779f5) providing total liquidity of $10m on the [LOBI-OHM Sushipair.](https://analytics.sushi.com/pairs/0x2734f4a846d1127f4b5d3bab261facfe51df1d9a)

Following launch a frenzy of transactions quickly led to the oracle price of $LOBI to rise significantly, settling today around $2650.

At the time of posting the 12,500 $LOBI tokens sent to Olympus increased the backing of OHM by $33,000,000. **Poetic**.

The favorable DAO swap (towards Olympus) proposed in OIP-44 was realized. With Olympus DAO and OHM benefiting in 1 day from a net increase in backing by $27,000,000 without the emission of OHM.

The first-ever DAO token swap at launch of its kind and possibly one of the most profitable DAO trades ever.

Not bad for a first day — long may it continue.

The Sushipair has had over $90,000,000 in tx volumes generating over $295,000 in trading fees for LPs. As the majority LP on the pair (>80%) Olympus has benefited from the majority of these fees.

The [LOBI-OHM pair](https://analytics.sushi.com/pairs/0x2734f4a846d1127f4b5d3bab261facfe51df1d9a) was trending on Sushiswap generating one of the highest transaction volumes on November 23 — one for the history books. With pool utilization somehow at over 400% for the short history of the pair.

As of today Lobis has sold over $4m in bonds, $1,700,000 of LOBI-OHM, over $1,800,000 of FXS and $2,240,000 of CRV, totalling to $5,600,000. Faster than Yearn and Stake DAO for this period, combined. Another record set by Olympus and Lobis.

As a result, of the 1.1% bond fee hard coded into the Lobis contracts [Olympus has received 42 LOBI](https://etherscan.io/token/0xdec41db0c33f3f6f3cb615449c311ba22d418a8d?a=0x245cc372c84b3645bf0ffe6538620b04a217988b) ($111,300).

> **Symbiotic**


---

![|||](https://images.mirror-media.xyz/publication-images/Z7zF4tBuWugc5TwasquH6.png?height=724&width=597)

### Did you hear, we’re doing an airdrop?

All airdropped $LOBI has been staked on your behalf to save on gas fees. The airdrop is underway and below you can find further details about it in our [Official Notice](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/LzLMCvpKbYAI90LuvhD0Jntx19mz2Q4v13wXC3kWFMo) *[- Into the Nether.](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/LzLMCvpKbYAI90LuvhD0Jntx19mz2Q4v13wXC3kWFMo)*


---

![credit: fishballs4#7309](https://images.mirror-media.xyz/publication-images/UxCBX824UlSbEn9MXYSvs.jpg?height=2000&width=2000)

## Current mechanisms.

**$LOBI**

Our protocol is governed by the $LOBI token. Each LOBI token is backed by a basket of governance assets (currently CRV and FXS, but more following decisions by the governance) in the Lobis treasury, giving it an intrinsic governance value and utility. By staking $LOBI in exchange for sLOBI, users can (|||,|||), participate in governance to determine any part of the Lobis protocol and more importantly participate in the governance of all of the reserve’s underlying platforms, while profiting as Lobis’s reserve size increases.

**Staking**

Staking is the primary value accrual strategy for Lobis. When users stake, they lock $LOBI and receive an equal amount of sLOBI, which are transferable and therefore composable with other DeFi projects. Unstaking your sLOBI will forfeit your upcoming reward rebase, governance rights and provide you with LOBI tokens.

Stakers earn rebase rewards by staking $LOBI on the [app](http://app.lobis.finance). The rebase reward is derived from the proceeds from [bond sales](http://app.lobis.finance/dashboard) and can vary based on the number of LOBI staked in the protocol and the reward rate set by monetary policy.

Staking is considered a passive, long term strategy, (|||,|||). The increase in your staked sLOBI translates in a constantly falling cost basis, meaning that, given a long enough staking period, the increase in sLOBI balance eventually outpaces potential price volatility.

**Bonding**

Bonding is Lobis’ secondary value accrual strategy. It allows Lobis to acquire governance tokens (CRV, FXS, and more in the future) and its own liquidity by selling LOBI at a discounted price compared to the market. This offering brings enormous benefits to the users. Firstly they can benefit from an active, short-term strategy by buying LOBI tokens at a discount and profiting after the vesting period. Secondly, since Lobis accumulates its own liquidity (POL), it ensures there will always be locked exit liquidity in the trading pools to facilitate market operations and protect token holders.

Moreover, 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 voting point of the governance token or LP token bonded. A voting point corresponds to the voting right associated with one governance token and multiplied by a Reserve Scaling Variable which targets equally profitable bonds.

> (This is where the 1.1% fee for Olympus comes from!)

**Code**

All Lobis code including contracts and front end has been open-sourced and is [available here](https://github.com/lobishqworkspace). Anyone is able to iterate on top of the deployed code via GitHub projects.

The governance process around whether this code should be integrated and considered to be part of the DAO is explained below.

It’s important to note that anyone can build on top of Lobis, there are no restrictions or prerequisites. See something you don’t like? Change it.

The governance process is only for:

* Applying for code submissions to be considered as part of the architecture of Lobis.
* Submitting proposals to the DAO to request anything that is needed to support the code, developers or changes proposed.

If you have an idea or want to build on top of Lobis just create a project, define the requirements and submit a PR.


---

!["The few" circa August 2021 (before Lobis) | credit: eiro3636#4152](https://images.mirror-media.xyz/publication-images/CZu22wUOz8lMgGOqPvnKc.gif?height=347&width=800)

## DeFi Governance - Redefined.

Together, we have designed a new form of the Olympus bonding mechanism, designed for the many, not the few.

We believe in strengthening DeFi by enabling more voices to be heard, a place where 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.

> Normalizing the idea of alliances that work in tandem to promote and grow protocols, not against them. Building more robust protocols, **together**.

Lobis even has the power to breathe new life into the ecosystem. Imagine a project abandoned due to failing governance, our community can provide public goods in the form of DAO tooling and freelancers to fix what was just “not quite right”.

### Looking inside

We took an open-source mentality to govern ourselves. Lobis is a court where everyone has a voice, for or against. Freedom of speech is an important part of a fair and equitable system. What really happens when you enable 5,000 degens to build the future of DeFi governance?

[Join us to find out](http://discord.gg/lobishq).

In the short time since our genesis, we have already onboarded engineers, creatives, economists, and global communities for Chinese, French, and Russian Envoys.

**But ser, how do we govern?**

Lobis Improvement Proposal (LIP): A proposal to execute on any power delegated to LOBI holders or outside the scope of delegated powers of sub-daos.

Examples: formalize a new sub-unit and assign it power; Do anything outside the scope of proscribed powers, like change budgets, branding; revoke delegated powers from sub-daos; vote on new Emissaries; mint a new power, etc.

**Tooling**

* [Forum](https://forum.lobis.finance): A place to come together, share ideas, brainstorm, and debate.
* [Notion](https://lobis.notion.site/Lobis-Notion-d19ff2f0ef894d65a73a62aff9024e1a): Coordinate, track and submit the implementation of instructions as specified in Approved Lobis Improvement Proposals.
* [Vote](https://vote.lobis.finance/#/): The place for our community to ratify decisions on-chain.

The protocol is maintained by various independent developers or "Envoy’s" of Lobis and governed by sLOBI holders.

Since the inception of Lobis, we have fostered a sub-dao structure encouraging the development of autonomous sub-dao’s consisting of freelance contributors.

Today these are fluid groups specialized in different but broad functions that help to make Lobis what it is. The intention is that these sub-dao’s execute day-to-day tasks as set out in LIP’s - *Lobis Improvement Proposals* that are approved by the community on [our governance platform](https://forum.lobis.finance).

The sub-dao’s comprise various independent freelancers that execute tasks based on the instructions or laws specified in LIP’s and voted on by the DAO community on [our snapshot](https://vote.lobis.finance/#/).

Sub-dao’s are small, autonomous groups of freelancers empowered by LOBI holders to act independently in the best interest of Lobis within a specific domain of action and with discrete decision-making powers.

Each sub-dao will be organized around a group of Emissaries. The Emissaries for each sub-dao should be nominated by rough social consensus and be reasonably acceptable to the community.

It is important to note that sub-daos are not the only teams that can work on Lobis. Each of the current sub-dao’s emerged based on need as freelancers grouped around a specific cause.

More informal contributors are encouraged to join, alone or in groups, seeking to have their contributions ratified by LOBI holders on a granular basis; after the fact. These informal groups may also submit proposals to the forum to formalize their sub-unit.

Some of the existing sub-daos and their purpose is as follows:

> * Engineering - Build, maintain and decide what code is part of Lobis.
> * Policy - Determine policies for BCV, RFV, fees, etc.
> * Marketing - Share the message of Lobis.
> * Design - Represent and shape our identity in media
> * Community - Cultivate community and foster collaboration.
> * Operations - Design mechanisms to enable our community to execute.

**Sub-dao’s and the community; how does it work?**

As of today, the community holds decision making powers for

* Managing sub-dao Powers: sLOBI Holders can vote to create, assign, or revoke discrete powers to or from sub-dao's.
* Change Emissaries: sLOBI Holders can vote to change sub-dao leads or ‘Emissaries’.
* Formalize sub-dao's: sLOBI Holders can formalize or deconstruct sub-dao's to control which sub-dao's can hold delegated powers
* Spend Treasury Funds: sLOBI Holders can choose to spend funds from the treasury
* LIP Power: sLOBI Holders have the power to propose a LIP on anything not already delegated.
* Set Budgets: sLOBI Holders Policy can create budgets for grants, freelancers, operations, or other workstreams

As we progressively decentralize the current core team has transitionary powers to act in the interests of the protocol until a set of sub-dao delegated decision-making powers covers all needed transactions, actions, or processes. These powers are in place for 3 months starting on November 27 and running until February 27.

Examples of these are:

* Emergency Powers: Immediately intervene in case of attack or bug to shutdown or roll back on-chain DAO functions.
* Veto Power: This power allows the Multisig to spike any decision to the community and is an emergency measure in place in case of existential risk to the DAO.
* Execute tx’s: This power allows the Multisig to execute on-chain tx’s pertaining to the instructions from the community in LIPs e.g. deploy a new bond or spend the treasury as per a LIP.

The Multisig is currently comprised out of the team that has built Lobis so far @exaltedemissary#5165 @platone#5568 @icecube#8197 @lobbyist#7319, @heaume#0327, and @usgovtbonds2#0856

> The community can submit requests for information or requests to change any of the powers stated above.

### LIP’s - How does it work?

**Guidelines**These are instructions for any member of the community for getting ideas to LIP’s that change any part of Lobis. These are foundations that the community or operations sub-dao can propose to modify.

1. Write down your idea and share it with other community members in the relevant Discord Working Group e.g. An idea to make custom emojis would work well in the #Design-general.
2. Refine the idea, gather support from the community and write it down into the “Draft-Proposal” format as [specified here](https://forum.lobis.finance/d/3-how-to-use-the-draft-proposals-section).
3. Share the “Draft-Proposal” on the [Lobis Forum here](https://forum.lobis.finance/t/draft-proposals) and add tags for the relevant working group. After 3 days tag one of the [Mods](https://forum.lobis.finance/groups) and they’ll validate that rough consensus has been reached.
4. The next step is to create a “Formal Proposal” the mod will share [this template](https://forum.lobis.finance/d/4-how-to-use-the-formal-proposals-section) for “Formal-Proposals”. This is a more detailed template to specify instructions for the DAO and sub-dao’s.
5. Tag one of the [Mods](https://forum.lobis.finance/groups) and they will qualify that the proposal meets the criteria and the proposal can be shared with the community on Discord and Twitter. The “Formal-Proposal” is open for comment for a grace period of 3 days.

   > If a proposal is time-sensitive this must be specified on its posting and qualified via a signaling vote on the forum via a soft poll.
6. A mod qualifies whether the “Formal Proposal” has met the requirements and that the community has had the opportunity to comment. If yes, then the mod will assign it a LIP number and move the LIP for on-chain voting by the community using staked LOBI ($sLOBI) on [Snapshot](https://vote.lobis.finance/#/).

> **Approved LIP’s must:**
>
> * Reach a quorum with at least 1000 sLOBI voting on the proposal.
> * Have a 3-hour time delay in between being posted on [Snapshot](https://vote.lobis.finance/#/) and for voting to begin to ensure the community has enough time to be informed.
> * Be available on [Snapshot](https://vote.lobis.finance/#/) for voting for 2 days without any exceptions.

If the vote is positive, the LIP will be added to the pipeline on [Notion](https://lobis.notion.site/Lobis-Notion-d19ff2f0ef894d65a73a62aff9024e1a) where the implementation of the task can be updated. The community can track the progress of LIP implementation here.

After the fact; a grant previously decided during the Formal Proposal process, will be proposed for work done to the relevant freelancer. Any completed grants will go on the profile of the freelancers and contribute to their reputation. In the future, a vote delegation system could be implemented where the community can delegate sLOBI voting power to freelancers that consistently demonstrate the power to execute and good faith to the community.

To make adoption of the governance process easier there are some [proposals](https://forum.lobis.finance/t/draft-proposals) and [tasks](https://www.notion.so/lobis/Lobis-Notion-d19ff2f0ef894d65a73a62aff9024e1a?p=e115c3b4ca5747d6a38934bc4c5ddac4) ready for comment and contribution.

> For example, all images in this envelope come from the community, born out of our Draft Proposal: [creating branding and media content](https://forum.lobis.finance/d/11-branding-asset-contest).
>
> Or our Draft Proposal: [creating a dune dash for Lobis](https://forum.lobis.finance/d/10-dune-analytics-dashboard).

We hope that this can be a good test run to evaluate the robustness of beta governance, and it is our intention to enhance this process as new proposals go through this process.


---

![credit: aleks#1295](https://images.mirror-media.xyz/publication-images/0Nj8HiwBy_KhmJ311bBvF.jpg?height=3008&width=5084)

## Progressive decentralization roadmap.

Our ethos is centered on open source community-driven development. True to our manifesto we want to create frictionless mechanisms for anyone to be able to contribute and build out the vision. The protocol should not be reliant on an incumbent set of volunteers but rather continuously attract and be able to detach talent with minimal friction.

We have a two-pronged approach to progressively decentralize.

1. Implement LIP’s from the community and empower freelancers to produce composable, compartmentalized features that can be put together and deconstructed endlessly.
2. Decentralize voting through token distribution to those that (|||,|||) with the DAO by bonding and staking. These LOBI and sLOBI tokens can then be used to vote on proposals on

Therefore, 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.

||| [Our Purpose](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/_03gBlOfjjDfHYfmnyop0_StMewedHGHmvFlrtkX-PI) ||| [Our Values](https://mirror.xyz/0x05Ce51f0B583D3666222f5803C51b1De8D4B35C2/pwTM_bK7BBmCw0ypezVFvyzwuFPuYKoC487gPP1PC_U) |||

If our values and behaviors reconcile with you, you can contribute today.

[Join our discord](https://discord.gg/lobishq), join the DAO.


---

### What’s next?

In our next Envelope, we will recap how beta governance has worked and outline the next steps on how to enable users to retain their governance rights.

*Please keep in mind that this is a beta release: and we the core team plan to iterate over the next few weeks as we receive feedback and implement further refinements. If you’d like to provide feedback, head to our new discord channel.*

**END.**

Second Envelope - Lobis: The Body

### Governance power - redefined.

In 48h Lobis bonded over $1,500,000 of FXS and $1,500,000 of CRV, totalling to $3,000,000 of governance bonds. **This was the single fastest accumulation of CRV and FXS in DeFi, during that period.** Benefiting Olympus DAO directly with the power to $LOBI in the DeFi ecosystem.

**Another record set by Olympus and Lobis.**

We now invite you to join us on the path to reclaiming DeFi, for the many, not the few.

All airdropped LOBI has been staked on your behalf to save on gas fees. Your eth addresses will be updated with sLOBI figures after you claim on our interface [here](https://app.lobis.finance).


---

### Airdrop Qualifying Criteria

OHMies who didn't get the chance to vote for OIP 44 but were considered as active in Olympus governance thanks to their participation in OIP 15 and OIP 18 **(as recommended through discussions with Olympus team members)** receive 0.5 LOBI to welcome these active chad governooors.

![Governance for all.](https://images.mirror-media.xyz/publication-images/YLHOHAA8Z9zHKkblAFYU0.png?height=342&width=650)


---

### Discord airdrop

The airdrop depends on the level at snapshot according to the below table. On this amount, boosts apply for certain roles, as per the table below

![The more you share, the more you get.](https://images.mirror-media.xyz/publication-images/ta9qqaQDYMQQSbgCOiYJL.png?height=310&width=674)

**On this amount, boosts apply for certain roles, as per the table below:**

![What Lobis is today, is thanks to you.](https://images.mirror-media.xyz/publication-images/zxH3HlFKBeED6ps0ikGkF.png?height=130&width=691)

### Governance Airdrop

On top of this, a 0.25 LOBI airdrop is added for boostooors who boosted the server prior to November 23, 19:00.

Those that actively supported the launch of Lobis by voting "yes" to OIP 44 receive an airdrop depending on their voting power, according to the below formula:

`Airdrop = 1 + ln(1+2*vote)/2`

OHMies who voted "no" to OIP 44 and therefore didn't support the project still receive 0.1 LOBI, for their active participation in Olympus' governance and for the value they brought to the debate.

**END.**

Official Notice: Into The Nether

### Our Purpose and why we exist.

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. **[Check out our journey to approval here](https://snapshot.org/#/olympusdao.eth/proposal/0x0d09a4c2b4f09e9c4a818d89dfe5438dccba90048100ff7700e8e23a8b1496bc)**.

Two sides of the same coin; OHM as the currency, Lobis as the governor.

Together, by uniting OHM to the dollar and to the ecosystem, we set the platform for a new, decentralized world.


---

### Intro

Today the leading DeFi protocols are seeing bribes, gauge voting, and flywheel locking mechanisms putting them on a path to centralization. We won't let these platforms steer the same course as traditional finance, handing over the reins to centralized entities.

Lobis will create a reserve of governance tokens from protocols using Curve-like tokenomics by offering bonds to fulfill its purpose. The first tokens included in this reserve are CRV and FXS, with AAVE, SUSHI, and others to follow.

Lobis is here to resolve the emerging imbalances in power before it’s too late.

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.

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.

Have an idea? Execute it. Submit a grant proposal to the DAO and get rewarded. **That’s it.**


---

![Curve Wars circa August 2021](https://images.mirror-media.xyz/publication-images/sHLcMZEXTeM1uRcdOi2ya.jpg?height=500&width=826)

**But why no raise? What about connections, funding, and influencers?**

Having an allocation for team members, VC’s or other investors would set a bad precedent. It would also enable an external entity to dump our tokens onto the free market creating outsized risk to LPs that could kill the project.

Having any external investors would be to the detriment of our independence and our vision of decentralizing DeFi. **We** **could not lock Lobis in golden chains**. We could not reconcile with such actions.

***There is only Lobis, Olympus, and the community.***

> This is why we decided to make OlympusDAO and the OHMies our **biggest community members** with the initial supply (100%) allocated **only** to Olympus DAO and OHMies.
>
> **All else equal, OlympusDAO and the OHMies will have 100% of the initial supply of $LOBI**. Lobis is not issuing any bonds to directly acquire OHM. This means that at launch Olympus and the OHMies will be the first majority party within Lobis and Lobis will accrue CRV and FXS for OlympusDAO.
>
> *Direct governance power for Olympus, built by Lobis.*

### How does it work - TLDR?

Bonding is Lobis’ value accrual strategy. It allows Lobis to acquire governance tokens (CRV, FXS, and more in the future) and its own liquidity by selling $LOBI at a discounted price compared to the market.

Together, with guidance from OlympusDAO, we have designed a new form of the bonding mechanism, which will strengthen the position of OHM as DeFi's global reserve currency.

Our protocol is governed by the $LOBI token.

Each $LOBI token is backed by a basket of governance assets (e.g. CRV, FXS) in the Lobis treasury, giving it an intrinsic value and utility.

More importantly by holding $LOBI, users can participate in the governance of all of the reserve’s underlying platforms, while profiting as Lobis’s reserve size increases.

Our goal is to build a policy-controlled governance system, in which the behavior of the $LOBI token is controlled by DAO governance. This system will grow to offer decentralized governance as a public good for projects facing the threat of centralization.

We will explore these mechanics in more detail in our next Envelope - “The Body of Lobis”, out within the next 72 hours.


---

![Forks of Olympus circa Oct 2021](https://images.mirror-media.xyz/publication-images/ksp0tZLUfr6lE0GX4vuEl.jpeg?height=1172&width=1600)

### Why does OlympusDAO benefit from Lobis and what’s in it for the OHMies?

OlympusDAO will accrue lobbying power through governance tokens in the “blue-chips” of DeFi, paired with OHM, without outsized risks to the reserve treasury. This is how Lobis will support Olympus and the OHMies.

Lobis focuses on governance and propagating OHM as a currency, while Olympus automatically accumulates $LOBI tokens (and so governance power) without further emission of OHM via the bond revenue Lobis directs to OlympusDAO (this is hard-coded into the contracts).

Open channels with OlympusDAO allowed us to design Lobis. We are linked to Olympus by code, ethos, and long-term vision.

Lobis will support OlympusDAO by providing the OHMies the power to lobby across the whole DeFi ecosystem without taking away the core team's focus on making OHM DeFi’s global reserve currency.

**How?**

* All our bonds are paired with OHM, Lobis bonds increase the buying pressure of OHM meaning that sOHM APY and likely market price will rise.
* As Lobis bonds accrue governance tokens, Olympus can get governance power over Curve, Convex, Frax, Sushi, Toke without harming its backing per token/risk-free value.
* Direct income for Olympus with each bond. The treasury will receive a 1.1% (1,1) fee for every reserve or liquidity bond sold through Lobis.
* OlympusDAO and the OHMies become the largest party within Lobis and potentially in the governance of DeFi. As one of, if not the largest community within DeFi, this is a big step away from concentrating power in the hands of external investors.
* The Olympus community will receive an airdrop at Lobis’ launch to bind together the communities.
* Lobis will lend $LOBI tokens to Olympus with a 0% interest rate, and Olympus will pair them with OHM from their treasury to provide liquidity on Sushiswap. There is a safety limit of up to $5m, however, the total amount of liquidity added will be at the discretion of the Policy Teams.
* In the future, if Olympus decides to become a whitelisted locker for e.g. Curve, we can support the peg of oCRV (Olympus locked Curve) to CRV, ensure proper governance on whitelists, and potentially bootstrap the launch of any Olympus locker by feeding the contract governance tokens.

> We are at the service of Olympus for whatever support they may need (in code or otherwise). With OlympusDAO and the OHMies as the largest voting party within Lobis, they will be able to participate in DeFi governance without disturbing the internal mechanics of OHM as a token or the Risk-Free Value of the Olympus treasury.


---

![||| . |||](https://images.mirror-media.xyz/publication-images/h1iMlQRFLFiImr76t8Wst.jpeg?height=400&width=400)

### Lobis.

### Our purpose is a representation of our shared values. Together they define our actions.

Lobis will be 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.

In our next envelope, we will discuss the frameworks and mechanisms that empower Lobis to deliver its purpose, *Envelope 2: “The Body of Lobis”*.

Exploring our development methodology, incentivization mechanics, and a deep dive into the $LOBI token. This envelope will be out within the next 72 hours, followed by GitHub repositories, technical libraries, roadmap, and documentation.

If our values and behaviors reconcile with you, you can contribute today.

In the short time since our genesis, we have already onboarded engineers, creatives, economists, and started spaces for Chinese, French and Russian communities.

This is the power of Open Source.

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

Join our discord, join the DAO.

**[Our Discord](https://discord.gg/lobishq).**

**[Our Twitter](https://twitter.com/lobishq).**[
](https://twitter.com/lobishq)
**END**

First Envelope - Lobis: The Soul

Our manifesto is a representation of our shared values. Our values define our actions.

To achieve our purpose, we place the ecosystem first.

You can read more about how we think and act below.


---

**Lobis is a collective of contributors.**

*There is no difference between “the team” and “the community”, they are one and the same.*

**Lobis is for innovators.**

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

**Lobis is for the proactive.**

*As governance and DeFi is fluid, things will need to be kept up to date, changed, or sometimes removed. Fix it. Don’t ask for permission.*

**Lobis is for collaboration.**

*For too long in DeFi have we fought amongst ourselves. Lobis is the place to find others who are like-minded, self-organize, and get stuff done.*

**Lobis is equal opportunity.**

*No matter who you are, you are free to participate in the governance of Lobis and the wider DeFi ecosystem with the tokens Lobis accumulates. You have the same right and privileges as anyone else.*

**Lobis is governed by LOBI, but LOBI does not govern The Envoy’s of Lobis.**

*Holding LOBI entitles you to propagate real, practical change that improves Lobis and DeFi. It doesn’t give you the right to tell other contributors what to do. Do you want something done? Champion it and rally others around you.*


---

We do not need VCs to back us; we did not raise, there is no team allocation, there is only Lobis, OHM, and the community.

There is no board. There is no CEO, there is no team of managers. There is no room for bureaucrats.

There are no VCs, no angels, no SPACs, and no SPVs that are pulling the strings in the background.

We are not owed anything from anyone. Contributors come together and work on this project voluntarily. Nobody has authority over anyone else, and nobody owes Lobis anything. Similarly, nobody has any right to ask anything from Lobis. You get back what you put in.

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.


---

**Lobis aims to bring decentralization back to DeFi by backing the vision of OHM as a decentralized reserve currency and accruing governance power for OlympusDAO.**

> The protocol is maintained by various independent developers or "Envoy’s" of Lobis and is governed by $LOBI holders. *Coming November 2021*.

If our values and behaviors reconcile with you, you can contribute today.

**[Join our discord](https://discord.gg/lobishq), join the DAO.**

**[Our Twitter](https://twitter.com/lobishq)**.

*We would like to thank the great work done by Maker DAO and Yearn to maintain open-source protocols within DeFi, they have been an inspiration to us.*