Bi-Weekly Update #7: Towards the DAO Future

A LOT is going on behind the scenes – not all of which can be shared (right now). You’re going to have to read between the lines :)

Green JEFF
2 min readMar 2, 2021

LOYAL Staking

  • GDAO staking is roughly halfway through. There is over 430,000 GDAO staking – almost 50% of the circulating supply.
  • The NFT swap contracts are compiled and on testnet. NFT redemption will be live once tests are complete and the Loyalty Mines page is updated to support the contracts.
  • This forum post explains more details about how the GDAO balance snapshots take place and how users can get an idea of what they need to make the cutoff.


  • There is an ongoing vote to create and fund a “GovBox” on our Snapshot page. The GovBox will enable us to make small, one-off payments as needed without needing to call a vote for each payment.
  • Strategy is underway on further developing our governance buildout. This includes metavoting (voting on other protocols), voter profiles and history through subgraph, binding votes, and sybil resistant voting.

Incentivized Participation

  • The gleam campaign had a spectacular turnout with over 60,000 total entries.
  • Once entries are vetted for legitimacy, winners will be drawn and contacted to receive their GDAO prize.
  • Well over 1,000 legitimate surveys on market sentiment were collected and will be compiled as a dataset on Ocean Marketplace. This will represent the most comprehensive crowdsourced data to be sold on Ocean.


  • GDAO “stats” page added to the website. This page compiles information on GDAO token stats, TVL across Governor contracts, and more.
  • Governor Media page added to website. Media content across our various channels populates here.
  • Server maintenance overhauled to massively reduce the input required to push updates to the website.
  • Miscellaneous updates sitewide.


  • Team workflow formalized through Azure. This will enable the team much better coordinate with one another and work more efficiently. If this were a 2017 pump and dump, we’d call this a Microsoft partnership.
  • 13 NDA’s signed and approved for “Project Gov”. More details to come.


  • TVL has grown to a comfortable $2.8 million
  • GDAO-ETH LP leads all mines with 410% APY.
  • Among single assets, SNX leads with 160% APY.
  • There is two months and change until the mines conclude. Exact countdown will be provided closer to that end date (sometime in May).


  • This update’s airdrop burn is roughly 13,850 GDAO. Total burn to-date is about 78,500 GDAO — 2.6% of the total supply.

Join the discussion on Telegram, tune in to Discord, and follow us on Twitter.



Green JEFF

CHIEF UNRUGGER | Skin in the game since 2013 | Marketing: BloqInc | Strategy: Vesper Finance |