It’s hard to believe it is already time for the first Month in Review of 2023. January has seen DXdao so focused on implementing Phase 2 of the Restructuring and Refocus (R&R) initiative that we could almost call this issue “The Restructuring Review”.
DXdao Guilds are using DAVI
Phase 2 of the R&R initiative drastically changed the DAO’s operational structure. The original Squads evolved into more autonomous Guilds, with each Guild consequently authorized by the greater DAO to govern its treasury, goals, and objectives. The newly established autonomous Guilds needed a governance framework, and DAVI was the obvious choice.
DAVI is DXdao’s latest governance innovation. A decentralized on-chain governance framework developed for mass adoption by DAOs. DAVI is currently deployed on both Mainnet and Gnosis Chain and can do either liquid token staking or soulbound token governance. Learn more about DAVI and when you can use it here.
In keeping with DXdao’s governance structure, DAVI for Guilds uses a soulbound token governance framework on Gnosis Chain. Deploying DAVI on Gnosis Chain was both a cost and accessibility-related decision. Being an EVM chain, transaction fees are minuscule, making DAVI accessible to all communities around the globe.
DXD Token Model Implementation
Coinciding with the R&R initiative was the New DXD Token Model. Things have been taking off with its implementation that warrant a mention.
First was the highly anticipated DXD Floor Price Guarantee. DXdao committed to buying any amount of DXD on the open market priced at or under 70% of treasury NAV. DXD holders have been submitting Member Balancer Transactions, trading their DXD for a combination of Stablecoins and ETH. There has also been an addition of DXD liquidity added to Swapr — did you know that DXD’s circulating supply has nearly halved in the last year, from roughly 50,000 to 25,795?
The second was the DXD Monetary Policy Committee. The first meeting was on the 26th of January and went well. They discussed the status of the implementation and how things were progressing so far. There was also a presentation about the long-term objective of the Token Model, on how to drive DXD value and act as a signal of how the market values the prospects of the DAO. See the recording here.
DXdao Priorities Board
Another integral part of the Phase 2 R&R initiative was the DXdao Priorities Board. The Priorities Board will be for REP and DXD holders to use as a signaling tool of what they deem priorities for the DAO and the various squads within the DAO.
To assist REP and DXD holders in this endeavor, DXdao is using the Extensible Signaling Primitive (ESP) dapp. ESP is a dapp designed for on-chain signal processing. It will allow DXdao governance to notify priority items to the community. REP and DXD holders will then be allotted signaling points, between 0–100, according to the amount of REP and DXD they hold. They are then free to allocate these points in whatever quantities and to whichever priority they choose.
ESP for DXdao is still in the learning curve stage, but its convenience and useability as an on-chain signaling tool are distinct. DAOs will be able to practice a form of “lite” governance allowing for on-chain signaling without having to perform full-scale governance. It is sure to be a practical and viable tool for DAO governance. The first monthly Priorities Board Monthly Check-In convened on January 26th, and you catch it here.
Other fun initiatives:
Bi-weekly Community Calls
Community Calls have been happening on a bi-weekly cadence and with a much lighter and looser style. Gently touching on DAO happenings has been sufficient to keep the community up to speed.
There have been some fun times with the odd game or two, and the community-generated POAPs have been a hit! So far, 7 POAPs in the series have been released into the wild, with voting live in our Discord as you read this. Usually, everyone joins in after the “formal” part of the call, and the contender for the next POAP, using Midjourney, is spawned based on a relevant topic of the day.
Social highlights for January
- SWPR was on the Top 10 Gainers spotlight of @Arbitrum_Space and @Arbitrum_Hub all through the month of January right up until the very last day (who’s birthday?) On some days, SWPR even exploded into 1st place!
- @d_eleye had a lot to say in January! First naming 2023 “Year of the DAO” and calling for a guest appearance on the @BanklessHQ podcast by @DXdao_ (BTW, it is also the year of the Rabbit) and then that you need look no further than @DXdao_ if you’re looking for a DAO that works! (@d_eleye #dropmic)
- @melanie__davis was on the “frontier” looking for our next treasury boss!
- @MinhVuong_TNG “Nice Pro” and we cannot argue with that!
- It’s a tarp, no it’s a warp, no, “It’s a wrap!” @mimicfi
- @NelsonGaldeman’s “Keep[ing] an eye on DXdao”
- What is it that @zamli says over at @SwaprEth… “This is how we do it”
January Popular Forum Discussions
About DXdao: DXdao is a decentralized collective that builds, owns, and governs DeFi and governance products. Reputation (REP) is voting power in DXdao, and DXD is the financial token with a claim on profit from DXdao products.
DXdao products include Omen (prediction markets), Carrot (programmable incentives), DXgov (governance framework), and Swapr (governance-enabled AMM). DXdao believes in governance and decentralization.