Kicking Off the YieldBlox DAO

Sprout is back with a brand new domain

Stellar with Soroban

Soroban, the new smart contract platform for Stellar, enables the Stellar ecosystem to revolutionize the way the network is used. Once Soroban is released to mainnet, best-in-class DAO tooling, financial primitives, NFTs, multi-chain bridges and more will all come to Stellar!

What Soroban Means for YieldBlox

The YieldBlox DAO was started to bring lending and borrowing capabilities to the Stellar Network, and will continue to work towards this mission after Soroban goes live! As Stellar has evolved, so have the tools available to deliver a lending and borrowing market on Stellar.

The YieldBlox DAO intends to make use of a new protocol built by the Script3 team, Blend, that will allow YieldBlox to deploy, manage, and insure lending pools! In doing so, the DAO will earn a share of interest from its lending pools. To learn more about the Blend Protocol, see here: https://script3.medium.com/95aaf66bdf41

The YieldBlox DAO

The YieldBlox DAO will be hosting meetings in the Discord: https://discord.gg/BznEjk8x7f
Everyone is welcome to contribute and get involved in DAO operations!

Questions

Q: Airdrops!

A: The YieldBlox DAO will make decisions about how to distribute tokens allocated for future airdrops. No distribution will occur until after the YieldBlox DAO Governance contracts are live on mainnet.

Q: What about all the tokens that were going to the Script3 team?

A: All tokens not involved in the airdrops are being burnt. The DAO will have the ability to mint more tokens.

Q: What will happen with YBX?

A: Nothing! The YBX token will continue to be the governance token used by the YieldBlox DAO. Ownership will be transferred to the YieldBlox DAO through a community run multi-sig once the DAO contracts are deployed to mainnet.