Gelato Community Update — March 2022
Hey! Welcome back to another Gelato Community Update🍦
After reaching consensus through the Snapshot Voting process, a unanimous decision to officially spin-out G-UNI from Gelato into its own DAO was successful. The Community-led counter Proposal was crowned victorious as voting concluded late Monday afternoon.
Option 2 which was initially put forward as a ‘counter’ to the originally presented Proposal gained a majority by the largest Gelato stakeholders who voted in support of the proposed changes that included issuing a larger pro-rata allocation of the $SPICE token supply to Liquid GEL holders and the Gelato Community at large. The Proposal saw a fantastic turnout of voters and resulted in a passionate success for the overall Gelato Community.
The future of Arrakis looks well and truly bright from here. We’ll be following the development of Arrakis closely as it can now flourish with all the support and resources needed to become an integral framework for liquidity provision within decentralized finance.
We would also like to send out our special thanks to all of the Gelato community members who came together in such a short timeframe to discuss, coordinate and formulate a very well-established counter Proposal.
GEL token holders should keep a close eye on how they will be able to lock their GEL tokens to receive SPICE with further information set to follow in the near future.
Minimax Finance integrates Gelato to automate the processing of stop loss and take profit events bringing increased reliability and efficiency to their users.
Some other notably interesting Ops integrations have come from protocols that have been using Gelato to automatically update their TWAP oracles on a regular basis.
Gelato Ops has seen a 86% increase in growth on a month-on-month basis in total executions, with a rise of 24.8% in task creations just this week alone.
We expect these metrics to continue increasing exponentially following the recent uptick in market growth and participation. Soon we will also provide very aesthetic illustrations depicting Ops analytics on a regular basis for a more detailed view of Gelato’s network performance over time.
We’re cooking up something — soon you’ll be able to set a range order on Polygon’s Uniswap V3 using Sorbet Finance. Stay tuned!
👋 We welcome Sarah Amann onboard, joining Gelato as a developer advocate! Check out her guide on how to automate smart contracts using Gelato Ops and writing Smart Contract Resolvers with Gelato Network.
🏗 Want to hack the future of Web3 and hang out in one of the coolest cities in Europe? Join us April 22nd-24th for ETHAmsterdam where you can experiment with the cutting-edge decentralized technology alongside developers and creatives from every corner of the globe. We’re teaming up with ETHGlobal to build the ultimate Web3 hackathon experience, and we want you to be a part of it!
Last but not least:
Are you interested in working with us at Gelato?
Check out our latest vacancies here!
About Gelato Network
Gelato Network is web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.
Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their web3 related DevOps operations.
Examples of which features are powered by Gelato include:
- Limit Orders on PancakeSwap
- Periodically updating debt ceilings on MakerDAO
- Offering users gasless token claims on Connext
- Automatically compounding yield farming vaults on Beefy Finance
- Automating the breeding of new digital racehorse NFTs on ZED RUN
- Rebasing of algorithmic stablecoins with Tomb Finance
- Updating price oracles on Abracadabra
► Check out what we’ve been working on at https://www.gelato.network
► Automate your smart contract at https://app.gelato.network/
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