Bi-Weekly Update #9: [NFTs!]
All is well in the world of Governor DAO. Below outlines our updates from the most recent sprint and some insight into next sprint.
- Governor NFTs are for sale to LOYAL holders until tomorrow, 4/10 at 12:00pm Pacific. Head to the Loyal staking page to purchase said NFTs.
- The team intends to burn many of the unsold NFTs, retaining a handful as rewards for further promotions, campaigns, and giveaways.
- The recent “Building DAO” article explains the role NFTs will play in boosting earnings for holders in their participation in the DAO.
Governance 2.0 and the Governor Model
- On Wednesday, an article was published explaining the technical outline of the Governor DAO model and how our community fits into it. Contract ownership by token holders, revenue share, and a “Sales Force” program all play prominent roles in what we intend to be the most efficient and best designed DAO model in production.
- Major goals of the model include incentivizing participation from all community members, relinquishing administrative controls to the token holders themselves, and autonomous ownership of treasury funds and revenue (which can be used for buybacks or otherwise).
Token Circulation & Treasury
- The mines boast about $7 million TVL and has about 500,000 GDAO remaining as rewards to be distributed. The mines are set to conclude near the end of June.
- ~78,000 GDAO will be swapped for LOYAL once the NFT swap concludes. If no other purchases take place, this reflects 0.125 GDAO per LOYAL. This rate will increase with additional purchases.
- Beyond the mines and pending LOYAL swap, the only new GDAO to enter circulating supply comes as deployment from the treasury.
- A number of withdrawals have taken place per recent votes regarding using OCEAN for data sets, setting aside USDC for freelance work, and GDAO payments for Q1 contributions plus allocation to Finnovant. See the live movements and updates of our treasury on Aragon.
- After these withdrawals, the treasury weighs roughly $1.15 million ( $850k worth of GDAO, $300k in altcoins and LP).
- Liquid Pane, which onboarded Governor DAO as a consultant, leveraged our LGE contracts and airdrop logic for a highly effective token launch. They raised 1,500 BNB, much of that as LP, and the protocol currently reflects over $1.5 million in liquidity. For our consulting work, Governor DAO is allocated a portion of proceeds and PANE token supply.
- We are working alongside Finnovant to deploy the Proof-of-Existence product leveraging their biometrics + blockchain. Our requirements (frontend, contracts, operations) are in line and the biggest outstanding requirement is integration of Say-Tec into the product. We will keep you all posted on a timeline as exact dates are known.
- More and more projects are interested in working with Governor DAO and additional NDAs have been signed. When these deals go public, you will be the first to know.
- The long awaited Team page is finally here.
- The Staking page will be sunset after the NFT swap concludes and users have ample time to withdraw their GDAO.
- A dedicated GDAO:LOYAL swap page will be introduced alongside the contract launch.
- Digital ID passed in Wyoming and the DAO bill is on the Governor’s desk. The team is staying proactive in ensuring we are in the optimal position to leverage these bills for the benefit of Governor DAO as soon as possible.