Threshold Time ~ Issue #2 ~ March 2022
Welcome to the 2nd issue of Threshold Time — a digest of some of the most newsworthy and exciting developments of the Threshold Network, which formed from the Keep and NuCypher network merger. You are receiving this because you subscribed to updates for NuCypher or Keep; please see the unsubscribe link at the bottom if you do not wish to receive this newsletter.
NETWORK UPDATES
The Threshold Network and Community continue to be super productive and engaged, so we have a lot of important updates to share.
Celebrating its 5th year last month, ETH Denver has become one of the largest annual Ethereum events (perhaps the largest — some estimated attendance of 15,000 people). Threshold Network was well represented; see the next section for an overview.
The authoritative and essential crypto resource Messari recently published an excellent overview of Threshold titled, “Crossing the Threshold of Decentralized M&A”. In addition to referring to us as, “the de facto encryption network for blockchain and crypto”, the coverage highlighted the upcoming “refurbished and highly scalable decentralized solution (tBTC v2) to bring BTC to the Ethereum network”. The overview then covered Keep and NuCypher’s backgrounds, the merger (how it works and its benefits), governance and the need for BTC on Ethereum. A must-read for anyone interested in…well, the future.
The world’s largest crypto exchange, Binance, announced February 28th that it had completed support for the merger of NuCypher and Keep tokens to the Threshold token, T. This means that Binance users who held NU and KEEP have now been upgraded to T.
ETH DENVER WAS A GAS
ETH Denver 2022 was considered by many attendees to be the kickoff to the “Year of The DAO”, given the explosion of activity among Decentralized Autonomous Organizations recently. Community-driven projects and the advancement of “Public Good” were at the forefront of this year’s conference.
The event was a kind of homecoming for Threshold. While the NuCypher and Keep teams have had a presence at ETH Denver since its inception, this year Threshold Network was unveiled as a united community DAO!
The Threshold Network was very active, with many members of the Keep and NuCypher teams, as well as community members, attending and using the opportunity to spread the word, make contacts for Threshold, and have some fun.
Stay tuned for an upcoming post on the Threshold blog elaborating on these highlights from the event:
- Team presentations by NuCypher co-founder MacLane Wilkison and protocol developer Beau Shinkle
- Panel discussion with MacLane and 3 members of the Keep team — Doug von Kohorn, Liz Shinn and Laura Wallendal
- A hackathon, including Fracture, the winning project/team in the Threshold track
- IRL community meet-ups (team photo above is from an event at The Selfie Museum)
- “Between Two Keys”, a hilarious production starring the quintessential J. Myles (NuCypher) with special guests Matt Luongo (Thesis) and Griff Green (Giveth). This production was produced entirely onsite — by the community and by the seat of their pants. And these were not ordinary pants! Threshold will soon release the first of what we hope to be many episodes, but it’s starting to leak out.
- “How I Joined Threshold”: Nico, a member of Threshold Marketing Guild, helped kick off the conference with a talk on his experience. His personal story illustrates how a “blockchain noob” found himself standing at the forefront of the new gig economy!
STAKING ON THRESHOLD NETWORK IS LIVE!
Liquid T tokens can be staked directly from the Threshold Dashboard. Liquid NU or liquid KEEP can be upgraded to T and subsequently staked as T.
For legacy stakes:
- Legacy NU stakes can be upgraded via the NuCypher Staking Dashboard. Unless a stake is subject to vesting associated with a legal agreement, it will be immediately available to withdraw and can be upgraded to T and staked. Stakers can migrate locked vesting stakes from NuCypher to Threshold. Once these locked stakes expire, the tokens will become available to withdraw, and can be upgraded to T and subsequently staked.
- Legacy KEEP stakes can also be upgraded via the Keep Dashboard. Unless a stake is subject to vesting from a token grant, any KEEP stake can be undelegated and withdrawn as liquid KEEP and then migrated to T using the Threshold Upgrade section of the dashboard. You can also move existing KEEP stakes onto T by going to the Applications section of the Dashboard and authorizing the T Staking contract.
Staking T or migrating your legacy NU / KEEP stake will allow you to:
- Participate in Threshold governance: Ultimately, Threshold DAO will be powered by Governor Bravo but before those contracts are deployed the DAO will use Snapshot. If you are staked on Threshold you must select a delegate to vote (which can be your own address); please follow the instructions here. Liquid T holders do not need to select a delegate to vote but will have to once the DAO switches over to Governor Bravo.
- Run a Proxy Re-encryption (PRE) node and earn staking rewards: Stakers will be able to earn staking rewards by running a PRE node once nucypher v6.0.0, which will be compatible with the Threshold Network, is released in the coming weeks. An announcement will be made at that time, and staking rewards won’t start accruing until then. For a preview about what’s required to run a PRE node, see this documentation.
UPDATE ON THRESHOLD DAO
After much discussion in Discord and the Threshold Forum, we recently had four proposals up for Snapshot vote, and all passed.
- The DAO bootstrap proposal: This proposal authored by Will Rhodes brought to life three Threshold DAO guilds (Integrations Guild, Treasury Guild and Marketing Guild) and laid out some initial governance
- Discretionary budget for the Marketing Guild: authored by the Marketing Guild, this requested initial funding of $50,000 for the guild to begin soliciting and facilitating marketing contributions from the community
- Binance Learn & Earn 2.0 campaign: authored by Binance representative Sienna after extensive community discussion, this requested $150,000 in T tokens to launch a “Learn and Earn” campaign on the Binance platform
- Funding request for Threshold USD front-end development: authored by Evandro Saturnino, this requested funding for a front-end application developer for a Threshold stablecoin, ThUSD
ART, MEMES — SO THRESHOLD!
INTERACT WITH THRESHOLDERS
Integration Guild call: Tuesdays at 4pm EST (Discord > Voice channels > The Hangout)
Marketing Guild call: Thursdays at 3pm EST (Discord > Voice channels > The Hangout)
Treasury Guild call: Thursdays at 5pm EST Discord > Voice channels > The Hangout)
Community monthly call: day and time to be determined (proposal here)
MEET THE TEAM INTERVIEW
To supplement this newsletter and give the Threshold Community greater insight into the talented and passionate people creating and supporting this groundbreaking technology, the Threshold Marketing Guild has begun a series of interviews with members of the Keep and NuCypher teams. The first interview (with David Nunez, CTO of NuCypher) was recently published here. Check it out and let us know whom you’d like us to interview next (hint: we’ve got “designs” on this).
ADDITIONAL THRESHOLD RESOURCES
- Websites: Threshold.network, Keep.network, Nucypher.com
- Discord: Threshold
- Twitter: Threshold, NuCypher, Keep
- Threshold Content Hub
- Threshold Github
- Threshold Reddit
- Threshold Telegram
Have questions, comments or suggestions for this newsletter? We’d love to hear them! Please hop into the Threshold Network discord and get involved. If you’d like to provide feedback on the newsletter or marketing, join the Threshold Marketing Guild by going to the #claim-a-role channel at the top of the discord and select the emoji, which will open the guild channels to you (the Integrations Guild is available there, too).
Love,
Threshold Marketing Guild
