DXD Token Working Group kicks off
DXdao governance passed a proposal to establish a DXD Token Working Group and the first call kicked off on September 1. The working group (WG) was established in order to come up with a long-term solution to the DXD token’s value accrual. The DXD token was launched by DXdao almost 2.5 years ago through a novel bonding curve contract, which allowed DXD to be minted (by depositing ETH) or burned (returning ETH). This innovative design attracted attention (and ETH) in DeFi Summer, but DXdao later passed the DXD Buyback Program in May 2021, which has been the primary value driver for DXD since (over 30% of supply has been purchased). The working group aims to find a sustainable token model for the future.
There were three calls in September. The first went over the history of DXD, the second looked at comparable token models (TEMPLE, Ohm), and the third call presented an initial monetary policy framework for a new DXD token model. Check out the DXD Token WG — Midway Checkin forum post for more info and to provide feedback on the progress so far.
DXdao embarks on restructuring phase
As crypto and macro markets have turned over the last few months, DXdao has done a lot of soul-searching. That ultimately led to the passing of the Alternative Restructuring and Refocus Process Signal Proposal on September 20th. This proposed a three phase process to examine the challenges and issues DXdao currently faces and move towards a goal- and accountability-based system going forward. This proposal touches every part of DXdao and is seen as an integral part in reintegrating DXD holders and moving to the Governance 2.0 system of unified governance.
Phase 1 of the proposal has already finished with a proposal passing at the end of last week, leading to several immediate changes about how DXdao functions, namely limiting the events & auditing budgets, requiring additional steps to onboard new contributors, a reexamination of call schedules and disengagement from contractors supporting Swapr. These improve DXdao’s financial standing as it dives deeper into the future of the organization.
SWPR token celebrates 1 year!
SWPR token celebrated its one year anniversary, when it became the first token airdrop on Arbitrum One. It was a busy birthday month for Swapr with loads of new features and announcements.
The Swapr squad released Swapr Beta v16 that added bridge swap functionality so users can trade and bridge in one transaction. The release also introduces eco-router support for Optimism, allowing users to tap into Uni v3 and aggregators on Optimism. Last but certainly not least, Swapr now has sleek user pages, where you can track all of your trades, bridges and farms across multiple chains.
Elsewhere in Swapr land, the community is currently discussing the future of SWPR emissions — whether or how much to continue them. Discussion is ongoing in the forum, coming to snapshot soon. Make your voice be heard!
The last cool initiative of Swapr in September was the introduction of privacy-focused analytics. Unlike most other DeFi products (cough, Uniswap, cough) Swapr does not have a private tracking tool for capturing user information. This has constrained the Swapr squad from identifying growth opportunities, but luckily there is a privacy-focused solution (Fathom) where users information is anonymized and a public dashboard is created for anyone to see front-end stats. Swapr just integrated it last month, so be sure to check back for more stats!
Other fun initiatives:
- His royal highness, DLABS — King of PoW ETH ventured the untamed territory of ETH PoW and came back unscathed, bearing riches and treasures.
- The Swapr team worked hard at Bridging the Gap and came up delivering amazing new features: Bridge Swap, Optimism Eco router Support and the New User Dashboard.
- We celebrated a very special birthday this month, the 1 Year Anniversary of SWPR token. This is a momentous occasion, especially as we approach the very important milestone of community governance.
- It might not be the low-down, but it was a great take on “DAOs are not corporations: where decentralization in autonomous organizations matters” by @VitalikButerin
- @KeenanLukeCCC, @sminert and @ProfFaustus went all in, on all things DXDao and especially Infinite, on @defislate. Shilling everything about the DAO from on-chain proposals to!
Social highlights for August
- The Infinite family just keeps growing. In September we welcomed the Swarm Association as a co-organizer to the Infinite team.
- The fun did not end there, @InfiniteHackETH then went to Twitter Space and there delivered its POAPload, and what a fine looking POAP it was.
- DXdao put its hat in the ring, or shall we rather say DXD ;)
- It was a Bubbly September for DXdao, to say the least. Appearing in various shapes and forms.
- The Prof went to Berlin and there delivered the ABCs of the DAOs!
August 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.