DXdao Month in Review | March 2022
COW Launch Campaign on Swapr
March was a huge month for DXdao and Swapr with the launch of the COW token, the governance token for the CoW protocol. DXdao and CoW have a rich history. The CoW protocol was formerly known as Gnosis Protocol v2, and one of DXdao’s early products, Mesa, is the front-end for Gnosis Protocol v1, which still conducts the DXD buybacks.
With that history, the CoW community selected Swapr and DXdao for launch partners on Gnosis Chain, awarding 240,000 COW to be distributed over 12 weeks to go along with 350,000 SWPR and 105 GNO. As soon as CoW governance voted to make CoW token liquid, DXdao launched a 17 day farming campaign with direct rewards for SWPR (75,000), GNO (65) and COW (29,100) and an additional Carrot token reward that pays out CoW tokens depending on the average TVL of COW/WETH pair on Swapr over the campaign.
The launch saw Swapr hit all-time highs for volume and fees as well as the all-time high for TVL on Gnosis Chain. In the first 24 hours after launch, there was $30m in total volume on Swapr, leading to over $6,000 in protocol fees.
The initial launch campaign is running until next Thursday, April 14, and campaigns will continue for at least 8 weeks after that.
Swapr squad ships and then ships some more
While the community was focused on the CoW launch, the Swapr team has been heads-down building new feature after new feature. There were two ENS proposals updates to Swapr.ETH that passed in March, building off of the new landing page (a scroll down from the swap box) from February.
That is just a preview of what’s to come in the next Swapr release. The squad is still hard at work, but a couple of huge features are soon to be implemented:
- A newly designed swap box that gives all the info you need to trade in a clean, sleek design
- Eco-bridging! Swapr users have come to love the eco-router which directs traders to the best pool, even if it’s not on Swapr at no additional cost. The eco-bridge will do the same allowing usage of several popular bridges all from Swapr.eth
- Cow Protocol integration! Speaking of eco-router, it’s getting a BIG upgrade soon with trades soon routing through the MEV-protected CoW protocol.
The first quarter of 2022 was a sea of hackathons. There were plenty of DXdao bounties to go around between the ETHDenver in-person and virtual hackathons, as well as the Codeless Conduct non-technical virtual hackathon. It was a great opportunity to reach new community members and preach the gospel of decentralization.
DXdao passed a proposal sponsoring Codeless Conduct in late February issuing several bounties in the process. Codeless Conduct describes itself as the first “non-technical” hackathon, aimed towards newcomers to the web3 community. The event featured everything from writing to videography to meme creation and everything in between. Three bounties were offered by DXdao:
1. Create a series of DXdao “Real Governance” Memes — Formally the second meme competition offered by DXdao, this bounty awarded up to $350 for the creation of several DXdao related memes. User @Tap came out on top, “tapping” the competition and making some hilarious yet relatable memes in the process. You can find all of Tap’s memes here.
2. Tokenomics Proposal for Swapr (or other tokens) — This bounty was prepared for any tokenomics wizards in the crowd. It was born out of a community conversation on a tokenomics update for the SWPR token, with the goal of crowdsourcing ideas for a sustainable model. With his submission “Swipswap,” user Cryptotwilight won the $500 bounty. It described how the existing model could be improved, including the addition of multi-token dynamics. You can find the winning entry here.
3. Video Explainer for Holographic Consensus, Reputation systems, DXdao’s multichain bases, or ENS — Last but not least, the final bounty pointed to the creation of a video explainer for one of DXdao’s most important facets. Holographic Consensus, Reputation systems, DXdao’s multichain bases, or ENS were all in the cards for participants to work with. The $1000 bounty was not paid out after careful assessment since the submissions did not completely capture the essence of the material, with some exhibiting erroneous or misleading information.
ETHDenver In-person and Virtual
Although ETHDenver took place in February, the festivities continued into March. In fact, the virtual hackathon winners were only just announced on the last day of the month. ETHDenver considers itself “the largest Web3 #BUIDLathon in the world for Ethereum and other blockchain protocol enthusiasts, designers, and developers.” and it did not disappoint! DXdao paid out three bounties this year:
- Novel use of Carrot KPI tokens — Exciting uses for DXdao’s newest product Carrot was on everyone’s mind and In-Person attendee @CupOJoseph did not disappoint! His innovative “Nifty Carrot” submission locked NFT’s as collateral in Carrot campaigns, only unlocking them when set conditions were met. Joseph fully redeemed the $1875 In-Person bounty. You can find the submission here.
- Novel use of DXdao Guilds Governance Framework — Guilds is DXdao’s simple and flexible governance framework for ERC20 based governance. Looking for a novel use, entrant @the_real_kudos utilized Guilds to realize their vision of “Rewards and Incentives for Farmers and Food System Supporters”. This bounty was split between the In-person and virtual hackathons, where Kudos pursued and successfully claimed both for $1875 and $1500 respectively! You can find the IRL submission here, and the virtual submission here.
Other fun initiatives:
- Ross speaks at the “We Are Millions Hackathon” — DXgov’s very own Ross Neilson represented DXdao on the “DAOs and Purposeful Communities” panel alongside six other panelists.
- DXdao Discord improves — The ever expanding DXdao Discord received another big change, including but not limited to web3 verification options, improved holder role assignment, and introduced long term interaction roles.
- DXgov Guilds — The first product of DXgov is approaching its release with the final touches being added and contracts going off to audit. There is a lot coming up in DXgov’s first roadmap delivery of the year. Keep your eyes peeled on the DXdao Discord!
Social highlights for March
- @MEVprotection shares more info about the initial COW campaigns on Swapr Gnosis Chain!
- @gnosischain features Swapr in its weekly update; “Swapr continues to grow with increased TVL and volume.”
- @DAO_wiki shares some information on DXdao for its “DAO Wikipedia”.
- @CupOJoseph remarks on the power of conditional tokens and discusses Carrot after winning the Carrot ETHDenver bounty.
- @naboxwallet lists Swapr!
March Popular Forum Discussions
- [Discussion] Should DXdao participate in AGVE auction to recapitalize Agave after exploit?
- Approve Swapr farming campaign for COW/WETH pair
- The Codeless Conduct Hackathon Recap
- Proposal Draft: Carrot Awareness Activation During ETH week in Amsterdam (April 18–24, 2022)
- SIP: Single-token Staking With a Twist
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.