LGE, Litepaper, Airdrop, & More: Governor Bi-Weekly Update #1
GDAO is 14 days old! With that, our first of many bi-weekly updates is here.
Liquidity Generation Event
The LGE took place on 11/16 as announced here. It was a resounding success with 300 ETH raised in under 30 minutes. Notable factors from the LGE:
- Listed to Uniswap minutes after conclusion of LGE. Liquidity locked and reclaimable within the next three weeks as outlined in the post-LGE update.
- GDAO trending #1 on DexTools on night of LGE.
- US$4 million in daily volume across the first 24 hours of listing.
- Uniswap LP tokens valued at roughly 4x sale price of the Synthetic LP (with 1:1 claim available soon).
In lightning speed (and with no payment required) GDAO has been listed on the following:
To protect all interests of all stakeholders in the Governor community, the airdrop was modified to incorporate a vesting schedule with a penalty/reward system. More details about how the airdrop will operate can be found here.
- All addresses effected by the BREE rugpull have been registered and allocated GDAO claims. Exact amounts can be found here.
- The original airdrop contract has been successfully forked from Eminence and integrated with the GDAO claims sheet.
- Per changes to the airdrop distribution, developers are finalizing contract logic to operate properly.
- Target commencement of airdrop is still tentatively set to early December.
Immediate objectives for the team include an overhaul of the official website to represent a central location for all Governor materials and standardized messaging to best emphasize the vision of the project.
- Governor Litepaper is written and formatted, to be published within the next 24 hours.
- Forums for technical discussion and governance is created and to-be integrated to the website.
- Website copy to summarize Governor in development.
- Content feed for project blog posts (like these) and news in development.
- Airdrop frontend developed, in staging until the contract goes live.
- Farming frontend in development.
Farming contracts are currently under internal testing on Ropsten Testnet to ensure all is working 100% as intended. The specifications for the farms are as follows:
- 100,000 GDAO allocation across 8 single asset deposit pools (ETH, WBTC, USDC, LINK, UNI, YFI, SNX, AAVE).
- 400,000 GDAO allocation to the 4x boosted GDAO-ETH LP pool.
- All pools enforce a 2% fee to be delivered in full to the Governor Treasury.
Launch date for farms remains unchanged at December 22.
LP Swap Contract
The Synthetic LP:UNI LP swap contract will go live at-or-before December 22, when farms go live.
- Synthetic LP holders can send their tokens to the contract, where they are burned, and receive an equal number of real LP tokens they can use freely.
- There will be a frontend interface on the Governor website to make this process as seamless as possible.
Different tools and strategies are being actively pursued in order to devise the most comprehensive and effective “now-to-DAO” Governance roadmap.
- Anticipate a dedicated document outlining the governance checkpoints and benchmarks.
- Emphasis is placed on an effective approach that handle short term obstacles (low circulating supply) while promoting a clear path to 100% community governance.
The team has commenced research and development into various revenue generation opportunities to ensure that Governor is a hugely revenue-positive organization early on. More details will be available in the Litepaper. RevGen pursuits currently include:
- Consulting new projects to emulate Governor’s LGE.
- Buildout on Ocean Marketplace for data collection, organization, and sale.
Our passionate community has already engaged in a number of pursuits in order to do their part in helping the buildout of Governor into something great — from memes to social media engagement to referring friends.