LevX DAO Roadmap 2022 1Q
Dear Mortys, Summers, Meeseekses and clone Ricks
Hi, I’m the dictator
I’m writing this to let you know my plan of running LevX DAO in this new year. I started this as a joke in last October without ever expecting this to become this big. This little success made me more confident and energetic but due to some critical, bad events happened to me right after it, I started to get some mental/physical issues.
For the last 1 month, I didn’t show up in the discord or twitter while suffering from lethargy, anxiety and depression. I tried my best to.. blah blah
Okay, enough being a loser, I’ll tell you what will happen to the DAO in 2022.
LEVX distribution delayed, again
Original $LEVX distribution date was in November but it didn’t happen yet. At that time I was about to get income from Shoyu, which isn’t true anymore, so I needed to think whether it’s a good idea to start distributing it without any benefit for the holders. I know that there are many loyal (possible) holders but if someone starts to fud, it won’t be easy to hold even to see it crash (which I don’t care though). Thus, to align the incentives of the holders, I decided to do it after there’s a secure source of income to be distributed for them. And the source will be levx.io.
Focusing on levx.io
As you can see in levx.io it’s motto is to build a ‘fully decentralized leveraged exchange’ which, if works properly, will bring a competitive benefit for $LEVX holders. It was supposed to happen in the late 2022 but now I resigned from Shoyu so there seems to be no reason to delay it. Also as the creator of $LEVX token, I believe I have a responsibility of making a stable income for the holders, which I don’t have now.
This project was my only & original vision since 2020, which I used as my twitter name and I think this is the perfect timing to realize it. Below are the features of it:
Liquidate DeFi Position
Currently, if you’re on a DeFi position (ex: staking, lending or borrowing) it’s not easy to change the recipient of the income generated from it to another account, which we call it ‘illiquid’. In levx.io’s approach, anyone can wrap a DeFi position into a deed so that it can be traded in marketplaces on Ethereum. In traditional finance space, an asset usually can get boosted across global market only after it got liquidated. I’m following the same step.
Asset-backed valuable NFTs
Each deed of a DeFi position is in a form of NFT(ERC-721) so that it can be traded in any NFT marketplace. Last year was a year of NFTs and lots of liquidity came into the market, which was obviously good for the space. But a lot of people question about the fundamental of NFTs saying they’re just worthless JPEGs. I half-agree with it and I believe levx.io can reinforce some pillars to the semi-fragile market.
Basically these deeds are backed by your position, which is again backed by underlying assets that are traded in the market in a specific dollar value. Someone could argue that these assets could crash and that’s true. But levx.io will not serve any kind of assets. Those only approved by the DAO, which was proved to be stable for a relatively long time will be used in the protocol. And the DAO will be run by $LEVX holders.
Essential tools for mass adoption of DeFi
DeFi is too difficult for newcomers. For DeFi to achieve mass adoption, this problem must be solved but I don’t think only education is the key to it.
They just want to make passive income but why are there so many things to learn every week and month? They don’t want to buy a vacant lot and build a condo to sell. Only a few will do this but others would just buy a completed building by paying the market price to earn stable income.
In levx.io, they can browse & search NFT-wrapped DeFi positions that they can afford with a competitive APR & tolerable risk.
By buying that NFT deed, they can get onto that position in 1 transaction. There’s no need to learn about that protocol deeply. There’s no step of swapping, adding liquidity or staking. For lending or borrowing, it’s the same. They can buy a folded short/long position in a one click to maximize their profits.
WEN?
Until the end of March, I’ll fully focus on building levx.io to disrupt the market. Also, after the launch of the product, finally $LEVX will be distributed because that’ll be the moment finally I can give something to the holders. How to trust this? You can’t. Already many left the DAO afaik and the token price is recording ATL every day. But this is a good opportunity for me to buy more tokens from the market. Look into my buy orders here, my address is 0x5b8C253517b6Bd003369173109693B01cb6841B5.
Now LevX DAO is my full time job and I’m solely focusing on this. Up until now we were only in the ground but now I’m building wings to make us fly. If you want to be one of my baby bird, stay here. But it’s up to you. My wings are made of vibranium btw.
If you don’t like what I did and am doing, my twitter DM is open. If you insult me, you’ll be the first one to receive my response so feel free to do it. I’m used to it and I just want to hear from you and to be a better loser.
Thank you,
the dictator
