MyBit DAO — June Highlights
Kyber liquidity pools funded #53
Voters decided to fund liquidity pools on MyBit Go from the Task.Market multi-sig wallet. This is required for Kybers automated token conversion service to function correctly on MyBit Go as transactions must have access to reserves to support liquidity. More updates on the progress of Kyber and MyBit Go will be released as it develops.
$500/month to serve as MyBit Go Help Desk operator #47
Voters decided to allocate $500 per month to a person (or group) voted in to serve as the customer service representative(s). This role will include serving as a point of contact for questions about MyBit Go, and as a distributor of resources that are specific to users queries. It would suit someone who is knowledgeable about the platform and familiar with previously released content to be as efficient as possible when helping users solve their issues. We encourage members of the community to join the DAO and put themselves or others forward for the position. Make sure to give a detailed ‘pitch’ about why you or the person you are putting forward would be good for the position via a reddit thread in the vote description.
MyBit Go main-net release postponed until Version 2.0 #48
MyBit Go is currently undergoing a huge upgrade to version 2.0. Voters decided that due to the vast number of useful features that will be added in v2.0, it is worth waiting for the updates before releasing it on the main-net. To see a full breakdown of these features please check out the MyBit v2.0 blog.
Create a new payment of 3.26 ETH to purchase and avado i3 #51
As featured in last months DAO highlight, voters decided to use DAO funds to purchase an avado i3 to test its viability as an asset on MyBit Go. This months saw this payment sent to Ian who will be setting up and testing the avado for use as an asset on MyBit Go. Avado i3’s provide valuable alternatives to services like quicknode, and have the potential to produce many times their value in revenue.
Application rejected from the DAO #55
Sadly, a MyID application didn’t get approved on MyBit DAO this month. This seems to have been a case of a user missing some of the necessary MyID elements required from users to scale the DAO securely. The DAO is designed to be as simple and inclusive as possible, but the only way for the DAO maintain integrity is to have certain requirements that allow it to scale sustainably. A step-by-step guide for joining the DAO can be found here.
That’s all for this month!
Now over two months into operation, it’s great to see the MyBit DAO decentralising the MyBit ecosystem. Although we’re still dealing with relatively small decisions in the context of global economics, the DAO has shown to function well as a democratic system for decision making. At scale, we can see the merit DAO’s in a large consumer facing company like MyBit, and we are very proud to pioneer the use of this framework. It’s still very early days, but we are excited to see what can be accomplished not just by the MyBit Network, but by its users who capitalise on the advantages provided by the DAO powered ecosystem.
If you like what is going on at the MyBit DAO and would like to be a pioneer in the world of decentralisation please join us on the MyBit DAO!
Until next time!
The MyBit Team
