Author: @rakka_sol

Summary

Following conversations with potential strategic partners, we see an opportunity to raise capital and bring on investors aligned with the protocol's long-term direction.

If passed, this proposal would approve the minting of 1,800,000 OMFG for a strategic OTC sale.

Rationale

The proceeds from this sale put Omnipair in a stronger position to continue funding ongoing growth, security and operational initiatives. It gives the protocol the runway needed to build the foundational trust required of a lending protocol, while preventing cost-cutting measures that would limit our capacity to sustain momentum heading into a major product release and beyond.

It is also an opportunity to onboard strategic partners who are aligned with our vision and can contribute beyond capital alone.

Execution

• Mint 1,800,000 OMFG for strategic investor OTC sales.
• The team would have 3 months to complete all OTC sales.
• All USDC proceeds from the sale go directly to the Omnipair treasury.
• All sales would be publicly disclosed within 24 hours of execution, including counterparty, size, and price.
• Any OMFG unsold at the end of the 3-month window will be burned.

Lead Commitments

Theia has committed to lead this raise with a $150K purchase of approximately 535,715 OMFG at $0.28 per OMFG, a 10% premium to market price at time of proposal. Colosseum has committed to join the raise with a $50k purchase of approximately 178,571 OMFG at $0.28 per OMFG, a 10% premium to market price at time of proposal.

The remaining 1,085,714 OMFG is available to other OTC buyers under the terms below.

OTC Terms

• The minimum price for future remaining OTC sales is the higher of:
  • The market price, calculated as a 14-day TWAP at the time of the agreement
  • $0.28 per OMFG (10% premium to market price at the time of proposal creation)
• If OMFG market price dips below $0.28, no OTC sales happen below that level.
• We may include additional conditions as part of individual sales.

Lockups / Vesting

No lockups or vesting as all OMFG will be sold at current market price or higher.

Logistics

A dedicated multisig to manage all OTC sales will be established. I must sign off on any transaction for a sale to be finalized.

Minted OMFG would go to a ⅔ multisig (6Ro6sornq9zPMJozrS9icHMiLiRDYKRTDe3sAymZyagK) containing the following members:

Approval Requested For: Minting of 1,800,000 OMFG and sending it to the designated multisig for executing future OTC sales.