Another month and another DXdao product launch on xDai — Swapr is now a multi-chain AMM! The latest release includes two new exciting features: eco-routing and a network switcher. Eco-routing allows users to search and route their orders to any Uniswap fork without leaving Swapr! On mainnet, Sushiswap and Uniswap are integrated, while on xDai, Swapr compares prices to Honeyswap and Baoswap. The network switcher, meanwhile, enables users to seamlessly move from mainnet to xDai and also helps users easily add xDai to their Metamask with just a few clicks.
Swapr’s TVL has grown significantly in March as DXdao has put its treasury into Swapr on both mainnet and xDai. There is $400k in DXdao liquidity on mainnet and $880k on xDai, with an additional $600k to be deposited into Swapr mainnet and $1m into Swapr xDai once the proposals pass in the coming days. Deposits are using a liquidity relayer contract that uses an oracle to ensure accurate pricing when the proposal is executed. With the rest of LP liquidity, Swapr xDai now has just under $900k in TVL:
Elsewhere in Swapr land:
- Successful Swapr AMA for the upcoming beta release. All attendees received POAP NFT for attending and also got a sneak peek of the upcoming roadmap.
- New DXstats release! Check out all the latest statistics and data from Swapr mainnet and xDai on DXstats.
Momentum is building for the upcoming Beta release, which will feature the long-awaited do-it-yourself farming campaign. Projects interested in using Swapr to launch their liquidity campaign should get in touch! Also, be on the lookout for DXdao sponsored farming…
Mesa is in the final stretch of finishing its MVP with the smart contracts, subgraph, and dapp UI nearly completed. The Mesa squad focused on making the contracts as modular as possible so projects will be able to choose from a list of features and sale structures, all of which are generated by interacting with the Mesa Factory.
Contracts will soon be deployed to xDai for additional testing. An audit is scheduled for this month, paving the way for a wider release. The Mesa squad has also landed on a new name for its auction mechanism: FairSale.
The community is looking forward to the full release, with some speculating that it will take place alongside the launch of OMN token…
Omen users were ecstatic about the fast, fun, inexpensive, and an overall great experience on xDai! It will only get better from here, as an upcoming release aims to add tight connectivity between xDai and mainnet Ethereum through a simple network switch. Omen on xDai also included the launch of Scalar functionality, where many fascinating markets relevant to current events and projects in the crypto ecosystem have emerged.
Here are a few examples:
- What will be the Total Value Locked in xDai at the end of March 2021?
- What will Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS” sell for at Christie’s?
- What will be the DeFi Dominance (vs. Global) on CoinGecko at the end of Mar 2021?
Outside of xDai, the Omen squad is working on the OMN token and turning into the Omen Guild. The guild hopes to provide a precedent for how product-centric governance can be developed and implemented. Lots of work went into this new ERC20-based governance structure that will curate valid markets and incentivize activity in the Omen ecosystem.
In March, DXdao governance also went multi-chain, with the bulk of proposals now occurring on xDai, just a month after the xDXdao Base Funding and Authorization proposal passed. Anyone with mainnet REP can claim the same amount on xDai through a REP sync proposal, if it’s the same address, or map their REP to the signalling contract if the REP is held in a smart contract wallet like Gnosis safe.
Some important initiatives over the past month in Governance:
- DXdao supports EIP 1559 implementation! A signal proposal passed with a dominant 25.23% of REP FOR and 0% against.
- Improving HR/people mover processes and coming up with solutions for a decentralized workforce. We’re also hiring! Check out our list of open positions.
- Depositing liquidity in Swapr — DXdao is the first (to our knowledge) DAO to seed liquidity in one of its products in a trustless way through a liquidity relayer contract. Check out this Twitter thread that runs through the process.
- Treasury diversification — DXdao continued its treasury diversification process, acquiring just under $1m additional stablecoins in March at an average ETH sale of $1,606, to bring the total amount of stablecoins in the treasury to $2m, which does not include the $500k xDai in xDXdao base or stablecoins in DXdao Swapr liquidity deposits. Mainnet treasury is currently $47m.
- Halting DXD Bonding Curve — A proposal to halt the bonding curve has been boosted on mainnet and is slated to resolve on April 8th. This would set the minimum investment threshold very high and essentially make DXD fixed-supply.
DXventures, a DXdao investment fund, was announced in March and aims “to seek out and invest in promising projects that are solving the pain points of decentralized organizations”. The collective has been debating how to collaborate, incubate, and partner with entrepreneurs, projects, and communities for some time now. DXventures is seen as a direct response to this discussion, creating a structured program to explore opportunities further.
If you are an individual or team building decentralized tools and are eager to learn more about DXventures, please join the DXdao Discord and let us know what you are working on!
In other BizDev news, a signal proposal was submitted to gauge DXdao’s interest in staking an ETH2.0 validator. Stakewise, an ETH2.0 staking client, made an introduction and provided insight into running said validator on the 2021/03/22 BizDev meeting. Elsewhere, there was also discussion about participating in the DGov pool, a Balancer pool meant to be an index for decentralized governance.
Marketing and Community
The DXdao Discord incentive program came to an end this month, and it’s been incredible to see the community embrace this new forum of discussion so quickly. Let’s take a look at the winners of the Meme Competition!
In third, community member Snufkin gives their take on DXdao’s governance.
Community member Fernund visualizes the progression of DXdao, earning a wicked second place.
Community member Mango takes a massive first place by expressing their frustration with DXD valuation relative to the treasury.
In other DXdao Discord news; Omen, Mesa, Swapr, and DXdao have been bridged with their respective Telegram communities. This means that wherever you choose to discuss DXdao and its products, you will be included in the discussion! Keep an eye out for the “DXdao Telegram Bot” and “DXdao Discord Bot,” which will relay any messages held on the other side.
The Discord also now supports the POAP bot. Proof of Attendance Protocol has created a bot that distributes “POAP” NFTs natively on Discord. Following the successful distribution of the “Swapr Beta AMA” NFT, the community should prepare itself for the possibility of additional POAPs in the future!
On a final note, Discord has a participation system that tracks user engagement over the preceding 90 days. On March 31st, a quarterly snapshot of these positions was taken; users with a participation role will be nominated for a REP boost. If you find your name on this list, congratulations! You made it into the first-quarter snapshot. The steps for claiming your REP will be detailed in the upcoming “Community REP Boost” Daotalk thread, and qualifying users will be notified through Discord.
March Popular Forum Discussions
About DXdao: DXdao is a decentralized collective that builds and governs DeFi products. DXdao was spawned in May 2019 through a collaboration between Gnosis and DAOstack. Reputation (REP) is voting power in DXdao, and DXD is the financial token with a claim on profit from DXdao products.