TL;DR:
Gelato is partnering up with Olympus Pro to launch the first-ever Olympus Pro bonds for the GEL token using G-UNI LP tokens. Up to $750,000.00 worth of GEL bonds will be issued for the initial launch which will ensure deeper liquidity that the Gelato community can depend on. In addition, this launch will showcase G-UNI being implemented at a large scale for an incentivized liquidity provision program that could be replicated for future Olympus Pro participants.
Now users can buy discounted GEL using Olympus Pro and G-UNI and here's how:
Step 1: Get GEL / ETH G-UNI LP tokens on Sorbet Finance
1. Navigate to the G-UNI GEL/ETH pool here:
https://www.sorbet.finance/#/pools/0xae666F497e3b03415503785df36f795e6D91d4b3
2. Connect your wallet. Click on “Add Liquidity.”
3. Input the amount of WETH and/or GEL you want to deposit as liquidity.
4. Confirm the inputs look correct. Then, click “Add Liquidity” again and confirm the transaction with your wallet. When the transaction is mined you will have acquired some G-UNI tokens.
Step 2: Purchase bond on Olympus Pro
- Head over to the Olympus Pro Bond Marketplace and connect your wallet.
- Select “Bond” on the right of G-UNI GEL-ETH bonds.
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Enter the amount of G-UNI GEL-ETH LP tokens that you would like to supply.
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Approve the Bond contract to spend your token.
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Click Bond to exchange G-UNI GEL-ETH LP tokens for GEL at a discounted price represented by the Bond Price.
What is Olympus Pro?
Olympus Pro is a bond marketplace for protocol-owned liquidity. Instead of protocols temporarily ‘renting’ liquidity through liquidity mining programs that attract mercenary farmers and do not ensure long-term liquidity, Olympus Pro offers a foresighted approach that allows protocols to sell bonds of tokens at a discount for LP tokens. To date, over 20 protocols across different chains are utilizing Olympus Pro to fulfill their liquidity needs.
What is G-UNI?
G-UNI is a neutral, unopinionated framework for concentrated and fungible Uniswap v3 liquidity. By turning NFT of LP positions into fungible ERC-20 tokens and automatically compounding fees, G-UNI offers a simplified experience to liquidity providers and a composable option for platforms who want to fit Uniswap v3 in the money legos of their protocol. Currently, G-UNI is being utilized in a variety of ways including as collateral on MakerDAO and Aave, liquidity mining programs for Fei, Float, and Angle Protocol, as well as for managers who want to build their own custom strategy for Uniswap v3.
The article was originally published on Gelato Network.
