Two years of on-chain governance!
July was a month of milestones for DXdao. The most prominent, of course, was the celebration of two years of on-chain governance on July 14th. The community marked the occasion with the issuance of special POAP (Proof-of-Attendance-Protocol) tokens, distributed to any address that participated in DXdao governance and those that attended the two year anniversary community call in Discord.
The milestone has grown in significance as the DeFi space grapples with new realities for centralized actors. DXdao’s on-chain governance system and its decentralized management of product front ends distinguish it from projects tied to a particular geography.
The two-year anniversary was also a time to reflect on the journey, from the DXD bonding curve, product launches, becoming multi-chain, to Governance 2.0. The future of on-chain governance is bright at DXdao!
SWPR token discussion
Swapr Beta launched in June, when DXdao also approved plans to launch Swapr on Arbitrum. In July, the community began discussions on launching a SWPR token to bootstrap liquidity and fractionalize DXdao. The draft forum thread highlights proposed token governance rights, SWPR token distribution plans, marketing airdrops and initial liquidity mining campaigns.
In the proposed tokenomics, Swapr token holders can use their voting power to:
- Adjust and govern the protocol fee
- Manage Swapr Guild treasury
- Allocate liquidity mining rewards to targeted pools
- Deploy the Swapr Guild and the Swapr protocol to additional networks
- Adjust the base pairs that trades are routed through
- Improve the Swapr protocol and dApp
Additionally, the initial distribution of SWPR is intended to bring more stakeholders into the Swapr ecosystem, bootstrap liquidity, and further engage those who are committed to the success of Swapr. Tokens have been earmarked in such a way that DXD holders receive 50% of the SWPR Fee Share.
There is much more to read on the post including the initial liquidity mining campaigns, marketing airdrop, and more. These are all up for discussion and ultimately dictated by DXdao governance; community input is greatly appreciated by the Swapr Squad.
DXdao completes $1m DXD buyback, authorizes another $1m in purchases
DXdao governance passed the DXD Buyback Program Signal Proposal in mid-May and passed and executed 31 buyback orders before reaching the $1m limit on July 29. In total, 3,263 DXD was acquired at an average price of 0.136 ETH/DXD.
The community has had an active conversation on the buyback, particularly in the #market-chatter channel on DXdao’s discord. After discussion there, in the forum and on the calls, DXdao passed a proposal to extend the DXD buyback program for another $1m, citing the DXD buyback reserve for support.
DXdao launches DXdocs, it’s native documentation resource
Late in July, DXdao gained full control of the DXdocs.eth domain which was pointed to an IPFS hash of “DXdocs V1.0”.
DXdocs is a documentation resource created to make it simple for the DXdao community to catalogue information, tutorials, and any other content they want to keep track of. This is a great way to store and display dynamic information that is updated on a frequent basis in order to keep it current and accessible. It’s been created with the “Just the Docs” Jekyll theme, which allows for decentralised hosting via an IPFS hash on ENS.
DXdao attends EthCC and TheDaoist events
This July DXdao contributors had the opportunity to represent DXdao at several key events. First was the Ethereum Community Conference (EthCC), the largest annual European Ethereum event focused on technology and community. Several DXdao contributors could be found around the event giving presentations, donning DXdao swag and learning alongside some of the greatest in the Ethereum ecosystem. Similarly, contributors attended TheDAOist; a DAO focused event focusing on collaboration, education and celebration in the DAO ecosystem. DXdao community members wrote a thread surrounding their experience and the many take-aways from these events.
Other fun initiatives:
- 1inch Routing — Swapr has officially been integrated to mainnet 1inch routing. The 1inch aggregator will officially account for Swapr markets, driving more users to the ecosystem
- CryptoBreakdown Podcast — DXdao contributor John Kelleher had the opportunity to speak about the day-to-day operation of DAO’s and how DXdao is helping pave the way towards a decentralized world.
- PoolHAUS — The team at DAOhaus has unveiled the details of their pooled liquidity protocol or HAUS LP DAO. This DAO is akin to a liquidity union, where liquidity providers band together and collectively decide where to allocate their combined liquidity. This is a great opportunity for Swapr, especially as it moves toward pool governance.
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.