September was a multichain month for DXdao. Swapr launched on Arbitrum One — it’s third network, which also coincided with the launch of the SWPR token and a month of farming on Ethereum’s first permissionless Layer 2.
SWPR Farming
At the start of the month, the DXdao community discovered a misconfiguration with its governance system on Arbitrum, making SWPR farming campaigns impossible to launch. The relevant squads quickly solved the issue and DXdao successfully launched Arbitrum farming campaigns and a new governance deployment. The Swapr protocol exploded in TVL, from around $5m to well over $70m, purely on the back of Arbitrum farming.
Later, alongside the weekly(!) DXdao community call, Epoch 2 launched on Arbitrum. This included a multitude of adjustments to the initial epoch based on a combination of TVL and volume data, as well as the introduction of a small allocation for interesting projects building on Swapr.
Note: Swapr and DXdao are not directly affiliated with any incentivised project except for DXD and SWPR, and as such cannot guarantee contract safety. Enter any Swapr pools at your own risk.
Mainnet and xDai farms were yet to launch at the time, and are now expected to launch alongside Arbitrum Epoch 3 on October 14th, 2021. You can join the Epoch 3 farming discussion on this DAOtalk thread.
DXD Buyback
REP holders approved the DXD Buyback Program in May, and since then DXdao has repurchased more than 5,000 DXD through a decentralized, trustless process on xDai and Mainnet. The program was extended for another $1m in purchases in September, and while there were some minor hiccups in supporting Gnosis Protocol v1, the program continues and is a constant source of conversation fodder for DXdao Discord’s #market-chatter channel.
The community is tracking the process of the current purchases but also looking to the future for how the DXD buyback could be implemented in a more systematic, scalable and automated fashion.
Some discussion has centered on the accounting for the buyback and how DXD issuance will be determined in the future, while other parts of the community are focused on developing new methods to conduct the DXD buyback. Using DXdao’s (still in stealth mode) Aqua platform is a top priority as well.
DXvote
Starting in August and in preparation for the Swapr launch on Arbitrum, the DXdao community devoted more resources to building tools and products for its own governance system. This effort has culminated in a newly formed gov_dev squad and the launch of DXvote, a decentralized governance framework incubated within DXdao.
With more than two years of on-chain governance, DXdao contributors and community members know better than anyone what tools are needed to make DAOs run. Product priorities for DXvote are centered around the governance actions that the community does most, such as templates for contributor proposals or SWPR farming campaign proposals.
But DXvote’s scope is broader than just DXdao’s current governance needs. It aims to be an open-source front-end that any DAO could use or fork it to customize its own needs. There are also big ideas like combining voting and forum discussion and a transparency dashboard. As DAOs mature, they’ll need more tooling and DXvote’s flexible architecture make it appealing to on-chain organizations looking to scale in a decentralized way.
It’s a community effort though, relying on feedback from REP holders and all involved in the DXdao governance process. If you have a suggestion, make an issue on Github!
The Weekly DXdao Community Call
Historically, community calls were introduced as a bi-weekly endeavour opposite to “recap calls”. As attendance ramped up, the importance of the community call became clear and resulted in an adjustment to DXdao’s call schedule. Weekly community calls!
DXdao will be experimenting with shorter and more focused product and squad updates intermittently inside community call programming as a result of overriding the Recap calls. The call will also introduce guests from relevant communities when possible, in-fact, the Adamant finance team was the first external community to speak on the DXdao community call on September 30th, 2021.
There have also been discussions of a potential DXdao podcast…
Other fun initiatives:
- DXdao on DefiYield — DXdao contributor John Kelleher had the opportunity to speak on the improvement of DAO’s and the onboarding process.
- DXvote dWebsite award — DXdao’s very own DXvote won Esteroids’ dWebsite of the week award #4! The prize was pointed towards Optimism to fund Retroactive Public goods on Ethereum.
- Swapr 1inch — Not too long after Swapr’s mainnet integration to 1inch, the protocol is now included in 1inch’s Arbitrum deployment. You heard right, if you trade with 1inch on Arbitrum, you’ll tap right into Swapr liquidity!
- ETHOnline sponsorship — DXdao is attending and sponsoring ETHglobal’s ETHOnline hackathon. This includes $4,000 in prizes for integrating or building with DXdao’s product suite!
Social highlights for September
- @d_eleye comments on his experience with Swapr.
- @reflexerfinance shouts out DXdao on the tail-end of it’s diversification into RAI.
- @e-steroids highlights DXstats, Swapr’s native analytics page.
September Popular Forum Discussions
Extend DXD Buyback Program for another $1m [Draft Proposal]
SWPR Epoch 2 farming campaign proposed adjustments
Moving on from Discourse (DAOtalk) forum instance
DXdao Community Call and Schedule Changes
Update regarding DXventures and Opolis and Possible Paths Forward
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.
DXdao products include Omen (prediction markets), Mesa (batch auction DEX), and Swapr (governance-enabled AMM). DXdao believes in governance and decentralization.
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