Governor DAO Bi-Weekly Update #7: Towards the Future of DAOs
Zane H
March 7, 2021

A LOT is going on behind the scenes – not all of which can be shared (just yet). You’re going to have to read between the lines here 🙂

LOYAL Staking

  • GDAO staking is roughly halfway through. There is over 430,000 GDAO staking – almost 50% of the circulating supply.
  • The NFT swap contracts are compiled and on testnet. NFT redemption will be live once tests are complete and the Loyalty Mines page is updated to support the contracts.
  • This forum post explains more details about how the GDAO balance snapshots take place and how users can get an idea of what they need to make the cutoff.

Governance

  • There is an ongoing vote to create and fund a “GovBox” on our Snapshot page. The GovBox will enable us to make small, one-off payments as needed without needing to call a vote for each payment.
  • Strategy is underway on further developing our governance buildout. This includes meta voting (voting on other protocols), voter profiles and history through subgraph, binding votes, and sybil resistant voting.

Incentivized Participation

  • The gleam campaign had a spectacular turnout with over 60,000 total entries.
  • Once entries are vetted for legitimacy, winners will be drawn and contacted to receive their GDAO prize.
  • Well over 1,000 legitimate surveys on market sentiment were collected and will be compiled as a dataset on Ocean Marketplace. This will represent the most comprehensive crowdsourced data to be sold on Ocean.

Website

  • GDAO “stats” page added to the website. This page compiles information on GDAO token stats, TVL across Governor contracts, and more.
  • Governor Media page added to website. Media content across our various channels populates here.
  • Server maintenance overhauled to massively reduce the input required to push updates to the website.
  • Miscellaneous updates sitewide.

Internal

  • Team workflow formalized through Azure. This will enable the team to coordinate much better with one another and work more efficiently. If this were a 2017 pump and dump, we’d call this a Microsoft partnership.
  • 13 NDA’s signed and approved for “Project Gov”. More details to come.

Mines

  • TVL has grown to a comfortable $2.8 million
  • GDAO-ETH LP leads all mines with 410% APY.
  • Among single assets, SNX leads with 160% APY.
  • There is two months and change until the mines conclude. Exact countdown will be provided closer to that end date (sometime in May).

Burn

  • This update’s airdrop burn is roughly 13,850 GDAO. Total burn to-date is about 78,500 GDAO — 2.6% of the total supply.

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