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 :)

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.

Governance

• 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.

Website

• 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.

Internal

• 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.

Mines

• 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).

Burn

• 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.

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