Threshold Time ~ Issue #3 ~ April 2022
Welcome to Threshold Time — a digest of some of the most newsworthy and exciting developments of Threshold Network, which formed from the Keep and NuCypher network merger in January. You are receiving this because you subscribed to updates for NuCypher or Keep.
NETWORK UPDATES
The proxy re-encryption (PRE) application is live on the Threshold Network!
As described by Arjun in this blog post, version 6.0 of the NuCypher client codebase was released, and significant upgrades include integration with Threshold Network staking and the migration of policies to Polygon.
Start staking NOW to receive Threshold token (T) rewards.
NuCypher v6 has enabled staking of T tokens, and holders can stake liquid T on the Threshold dashboard. One can also migrate an existing legacy NU or KEEP stake using the NuCypher dashboard or the Keep dashboard. Later this month, two models for incentivizing stakers will go up for token-holder DAO vote (see “Interim Era Incentive Schemes” in the Threshold DAO update section below).
Have you used the sleek new Threshold Dashboard yet?
You may be used to using the Keep Dashboard for managing tBTC and Random Beacon applications, earn and reward opportunities or even upgrading your TBTC to v2 or KEEP to T tokens. And you may have used the NuCypher dashboard to withdraw vested NU, stake NU on Threshold or manage your node. But if you haven’t checked out the new Threshold Dashboard, now is a great time to upgrade KEEP or NU tokens to T, stake T and see the Total Value Locked stats.
UPDATE ON THRESHOLD DAO
Threshold Improvement Proposals
Overview of current proposals:
- Interim Era Incentive Schemes: This proposal, authored by community member Arj, proposes that two incentive schemes should be put to the token-holder DAO for approval: a “One-off Migration & Stake Bonus and another for “Ongoing Stable Yield”
- Begin Incentivizing Liquidity to tBTC v2 Curve Pool: Authored by LakeLaogai, this proposes that we preemptively direct incentives towards the tBTC v2 Curve pool.
Update on a previously passed proposal:
- Bootstrap Threshold DAO Guilds: Threshold Network has officially launched its guild system with the formation of three initial guilds, each governed by a committee of community members who have been contributors to the respective guild(s). The Threshold Integration Guild, Threshold Treasury Guild and Threshold Marketing Guild each began laying down infrastructure for their guild committees (e.g., establishing working hours, creating internal documentation, organizing discord channels/threads and more). Each guild has also begun developing Objectives and Key Results (OKRs) in order to ensure alignment of efforts and resources with Threshold’s key goals, as well as to bring increased visibility and accountability.
Marketing Guild update
The Marketing Guild has increased its efforts to support the NuCypher and Keep teams in educating the world about the tremendous value in Threshold’s community, services, use cases and more. A few of the key projects underway include:
- Soft launch of the “pod” system, starting with Education, Administration and Design. Pods are focus groups that work on specific areas of need. Each pod is currently led by a member of the Marketing Guild Committee, and each lead gives an update on the recent and ongoing activities of their respective pod during the weekly Marketing Guild “T-Party” (which is open to all community members and is hosted on our Discord every Thursday at 3pm EST — welcoming new attendees!).
- Among the activities the Design pod is engaged in is work on designs for POAPs (proof of attendance protocol — an NFT people earn for participating in an event), and in addition to employing Threshold purple, dig the fern reference (if you don’t get it yet, see the Community Creations section below).
- Preparing for the launch of a “learn and earn” campaign on Binance — the result of a proposal passed by the community after much discussion. A self-organized group has worked collaboratively to write scripts for several videos Binance will produce, as well as an article on Threshold. The goals of the campaign are to grow awareness of Threshold, attract interested people to our community and ideally increase the number of stakers in our network.
- Threshold Embassy, headed by guild Committee members MrsNuBooty and ZeroInFo56, seeks to create relationships with other DAOs and Web3 projects in order to cross-pollinate between communities. Currently in the works is a Twitter Space hosted by Layer3 (Layer3.xyz) — a Web3 tool that allows DAOs to create and publish a variety of earning opportunities to anyone with an Ethereum or Polygon Wallet in the form of Bounties, Competitions, and Projects.
Treasury Guild update
This month the Treasury Guild has pushed to establish a long-term budget and create a treasury diversification strategy. They also have put forward a proposal to hire a research director that will help advise on this strategy, and they’ve been focused on optimizing our liquidity incentives regarding Curve and Convex.
A large part of this includes a focus is on protocol owned liquidity (POL). POL is in contrast to liquidity mining — where protocols will pay people with a native token for providing liquidity. That works, but when rewards are reduced, then the liquidity providers quickly move on to another token. So essentially the liquidity is being rented. With POL, we are purchasing liquidity and retaining permanent capital.
Specifically, the guild is building up POL in the T + ETH pool on Curve, which will help bring additional market depth for the T/ETH pair on CRV (this is important for reducing price volatility).
Many of the day-to-day activities of the guid involve incentivizing Curve governance participants to vote for the T+ETH gauge (since Threshold DAO owns a significant portion of the LP in the pool, it captures a meaningful amount of any emissions that are directed to the pool). Accruing these emissions will enable our DAO to build governance power in the Curve/Convex ecosystems and drive further emissions to its pools in the future (T+ETH, tBTCv2, thUSD, etc.).
Integrations Guild update
The core mission of the Integrations Guild is to build successful, synergistic and long-lasting relationships with other protocols, DAOs and external organizations. Its scope is:
- Threshold’s flagship products: tBTCv2, Proxy Re-Encryption (PRE) and community-led thUSD
- Integration of Threshold’s token (T)
- Tool assessment and relationship with providers (temporary)
- Supporting the definition and execution of staker strategy
- Other high-potential DAO-to-DAO relationships
Recently, the Integrations Guild has been primarily working on defining the guild’s mission, scope and OKRs, as well as its organizational structure. The coming weeks will be mainly focussed on defining these into a strategy — plus schedule and execution.
The guild’s Q2 2022 key objectives are:
- Prepare for a Successful tBTC v2 Launch
- Build and Maintain DAO-to-DAO Relationships
- Create and Maintain an Effective Guild Budget
- DAO Communication Tools (short-term guild ownership)
COMMUNITY CREATIONS (OH SO THRESHOLD!)
This just in!
This just LOL!The wait is over. In our last issue we teased the forthcoming episodes of “A Fern Between Two Keys”, a Threshold production wherein NuCypher’s hilariously prickly J. Myles channels his inner Zach Galifianakis (he fits the role to a T) — and gets under the skin of special guests Matt Luongo (Thesis) and Griff Green (Giveth). Give it some love on Twitter here, and ROTFL at the first full episode here.
INTERACT WITH THRESHOLDERS
Until it’s your turn to be interviewed on “A Fern Between Two Keys”, come get some close-ups with these opportunities:
Integration Guild call: Tuesdays at 4pm EST (find it in 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: last Friday of each month at 3pm EST (Discord > Voice channels > The Hangout)
Workshop at @EFDevconnect: “Building #Web3 Infrasctructre Protocols on #Ethereum” In conjunction with @LivepeerOrg and @graphprotocol.
Mon, April 18th, 1:00pm — 5:30pm CT. Limited space available, so sign up here to secure a seat!
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
WHAT DO YOU THINK?
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).
Created and shipped with love,
by Threshold Marketing Guild
