DXdao Month in Review | June 2022
June was a wild month in crypto markets, but despite the turbulence the DXdao community kept its head down and kept building.
Swapr Odyssey and Beta V13
The Arbitrum network has prepared a fun community engagement event titled “Arbitrum Odyssey”. Users were required to vote on-chain for their favorite project in each bracket, ultimately resulting in 7 weeks of fun interactivity and rewards for your favorite Arbitrum projects. The best part? Swapr has clinched its seat at the high table, beating out community powerhouses Yearn Finance, Frax Finance and Future Swap.
The Swapr community is incredibly excited for the opportunity, being featured on week 6 alongside Dodo. Odyssey participants will be urged to complete some special tasks on Swapr Arbitrum to become eligible for a Swapr branded NFT and continue their journey through the cosmos. Want to learn more or follow along? Head on over to the Odyssey discussion channels in the Arbitrum Discord.
Rumor has it, Arbinauts may be the first to partake in Swapr’s own journey through time and space…
Audits, Audits, Audits
DXdao’s DeFi and governance products may manage billions of dollars one day, so it is paramount to ensure their security and audit the underlying smart contracts. This has increased over the last two months with a major audit from Sigma Prime for DXgov’s guilds smart contracts as well as audits for the v1 version of Carrot. Carrot v1 will include many new features, like using NFTs as collateral for KPI token campaigns. The Carrot audit was done by the Omega team, which also did an audit for the Swapr squad so it can incorporate Curve into its eco-router.
Looking for a collection of DXdao audits? Look no further than DXdocs, our native documentation resource.
DXdao Expenses and Budgets
Amidst the market downturn, DXdao conducted a review of its expenses to ensure resources are being efficiently allocated. From Dec ’21 — May ’22, DXdao averaged $262k in monthly expenses.
This number undercounts because some expenses have not been filed and this will likely increase over the coming months as workers move on from their trial periods. Conservatively, DXdao is safely estimating a $300k monthly burn rate, which considering only stables currently owned by the DAO gives 3.7 years of runway.
The full post dives into the cost breakdown by squad and also some of the big-budget items. The work in June is a prelude to a more comprehensive DXdao budget to ensure DXdao is building and investing throughout the bear market.
Other fun initiatives:
- Operation Decentralization — Haven’t you heard? DXdao is soon hosting its very own live show all about decentralization. Spicy discussions and deep dives into projects propagating distributed technologies in the crypto space. Keep your eyes peeled in the DXdao Discord for a full announcement soon™️. For now, here is a sneak peek of the brand!
- Discord Moderation changes — Lots has been happening in the Discord world. Most notably, after several spam and scam attacks, the DXdao server now has a much tighter verification process — users can now utilize Agora to verify directly with their wallet! Already in the Discord? There are plenty of other fun things including REP boosts, 0xfrens connection, new token gated features, and more.
- Something… Infinite — DXdao soon enters the bounds of Infinite. Enter the vast expanse of cutting-edge decentralized technologies and take your place among Infinity. Only 150 slots. Watch DXdao closely, the Infinite is near.
Social highlights for June
- @powers_chris pointed out DXdao’s visionary treasury management
- @KeenanLukeCCC highlighted non-transferable governance pioneer DXdao
- @Theeylon pumped DXdao’s ENS deployment dominance
- @sminert discussed all things DXdao
- @1HiveOrg DAOing it for DXdao
- @TheDAOist celebrated DXdao joining DawnDAO as a Ministry member
June 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.