Skip to main content

Governance at Olympus


Olympus Governance is transitioning from multisig management to on-chain governance. Per OIP-152, this phase will complete by Q3 2024.

The Olympus protocol is governed and upgraded by tokenholders using three components:

  1. gOHM token (Governance OHM)
  2. Governor Bravo
  3. Multisig

Together, these components enable the community to propose, vote on, and implement changes to the Olympus V3 system. Proposals can modify system parameters, activate or deactivate policies, and install or upgrade modules, effectively allowing the addition of new features and the mutation of the protocol.


gOHM, or Governance OHM, is an ERC-20 token used for proposing upgrades to Olympus protocol. gOHM can be obtained by wrapping OHM, and vice versa. The only use cases of gOHM today is for voting and as Cooler Loans collateral.


gOHM allows the owner to delegate voting rights to any address, including their own. There's a few considerations to keep in mind when delegating:

  • Users can delegate to only one address at a time
  • The entire gOHM balance of the delegator is added to the delegatee’s vote count
  • Changes to the delegator's token balance automatically adjust the voting rights of the delegatee
  • Votes are delegated from the current block and onward, until the delegator delegates again or transfers all their gOHM
  • gOHM sitting in Cooler Loans qualifies for delegation

Delegation can be achieved by calling the delegate() function or via a valid off-chain signature using delegateBySig(). Olympus provides a frontend for managing delegations here.


You must delegate your gOHM in Cooler Loans to be eligible to vote in both Snapshot and Governor Bravo. Visit Olympus Govern page for more information.

Voting eligibility

The following table outlines what gOHM supply is eligible to vote in both Snapshot and Governor Bravo:

gOHM typeSnapshot eligibilityGovernor Bravo eligibility
gOHM❗ (requires delegation)
gOHM in Cooler Loans❗ (requires delegation)❗ (requires delegation)
tokemak gOHM
Arbitrum gOHM
Polygon gOHM
Fantom gOHM
Optimism gOHM

Governor Bravo

Olympus implements a modified version of Compound’s Governor Bravo with the following key changes:

  1. Percent-based submission threshold - The minimum amount of votes required by the proposer to submit the proposal. Set to 0.017% of the total gOHM supply, at time of proposal submission. Checked again during proposal queueing and execution.
  2. Percent-based quorum threshold - The minimum amount of FOR votes required for a proposal to qualify to pass. Set to 20% of the gOHM supply at time of proposal activation.
  3. Net votes approval threshold - OCG introduces the concept of net votes, which is the margin of votes between FOR and NO in order for a proposal to qualify to pass. Specifically, the percentage of voting supply voting FOR must be 60%, or greater.

The decision to introduce these changes stem from elasticity in the gOHM supply. Percent-based thresholds ensure that requirements (in absolute gOHM terms) for proposing and executing proposals scale/shrink with the token supply.

Today, Governor Bravo is responsible for the following roles:

RoleResponsibilitySystems affected
cooler_overseerDefund and reactivate ClearinghouseCooler Loans
liquidityvault_adminManage BLV factoryBLV

Per OIP-152, additional roles will be transfered from multisig management to Governor Bravo. This phase is expected to complete by Q3 2024.


proposalThreshold% of total supply required in order for a voter to become a proposer0.017% of supply
quorumPctminimum % of total supply voting FOR in order for a proposal to qualify to pass20%
highRiskQuorumSame as quorumPct but specific to a high risk module in the Default system20%
approvalThresholdPctminimum % of voting supply voting FOR in order for a proposal to qualify to pass60%
proposalMaxOperationsThe maximum number of actions that can be included in a proposal15 actions
votingDelayThe delay before voting on a proposal may take place, once proposed, in blocks3 days
votingPeriodThe duration of voting on a proposal, in blocks7 days
activationGracePeriodThe amount of time once a proposal is eligible for activation that it can be activated before considered expired1 day
GRACE_PERIODHow long after a proposal is eligible for execution it can still be executed before it is considered expired1 day
delay (execution delay)The time a proposal must be queued for before it can be executed1 day
vetoGuardianAddress which has veto power over all proposalsEmergency MS
MIN_GOHM_SUPPLYThe minimum level of gOHM supply acceptable for OCG operations1000 gOHM


Multisigs perform protocol upgrades for roles that are not yet under Governor Bravo control. The multisigs queue and execute on-chain actions that are approved by the community through Snapshot, an off-chain governance client. Today, the following roles are under multisig control:

RoleResponsibilitySystems affectedMultisig
executorAbility to install modules and policies on KernelKernelDAO MS
adminAssign roles to any policyKernelDAO MS
price_adminCalculates price metrics to use for RBSRBSDAO MS
heart_adminManages heartbeatsRBSDAO MS
operator_adminInitialize RBS operatorRBSDAO MS
operator_reporterRecords a bond purchase and updates capacity accordingly. Limited to the BondCallback contract.RBSDAO MS
operator_policyManages RBS rangesRBSDAO MS
callback_adminCallback to interface with Bond systemRBSDAO MS
heart_adminHeart beat managerRBS and StakingDAO MS
custodianTreasury custodian that can approve, remove assets from TRSYTRSRYDAO MS
bridge_adminCreates/manages bridgesCross ChainDAO MS
bondmanager_adminCreate and manage new bond marketsOHM and other non-RBS managed bondsDAO MS
distributor_adminManages reward rate + pools to distribute OHM intoDistributorDAO MS
burner_adminBurn OHMMINTRDAO MS
minter_adminMint OHMMINTRDAO MS
bunni_adminDeploy/deposit/withdraw UniV3 pool, Configure fee harvestingTRSRY, MINTR, RBSDAO MS
supplyconfig_adminInstalls/upgrades SPPLY submodulesRBSDAO MS
supplyconfig_policyAdd/remove SPPLY categories, Add locations to SPPLY categories, Execute function on submoduleRBSDAO MS
treasuryconfig_policyManages asset registration, location and categoriesRBSDAO MS
priceconfig_policyManage asset price feeds, moving average, strategy. Execute function on submoduleRBSDAO MS
priceconfig_adminInstall/upgrades PRICE submodulesRBSDAO MS
emergency_adminEmergency shutdown for BLVAll systemsEmergency MS
emergency_shutdownShutdown MINTR, TRSRYAll systemsDAO MS, Emergency MS
emergency_restartRestart MINTR, TRSRYAll systemsDAO MS, Emergency MS

Per OIP-152, additional roles will be transfered from multisig management to Governor Bravo. This phase is expected to complete by Q3 2024.