Bi-Weekly #23: THE VAULT IS LIVE
Jgr33nwood
November 20, 2021

Directives Completed: 

Vault is Live

After much progress and tons of anticipation the Governance Vault is officially live! Check it out at https://Vault.GovernorDAO.org The final audit on mainnet took place on the 17th November and a hard link from ImmuneBytes as well as a final audit report will be available to the public as soon as it is provided by ImmuneBytes.

As of right now approximately 1/7th the total supply of GDAO is locked in the vault (TVL $1,100,000.00+) and an additional 1/4th is locked in liquidity on GYSR. This is an extremely bullish signal for GDAO as scarcity on the market leads to additional buy pressure as well as significant supply shock – not allowing the market to dip due to a lack of GDAO available to sell. Please refer to the Gitbook Docs guide HERE authored by Jeff explaining the various decay fees and vault deployment variables. An updated Vault guide can be found HERE with instructions for entry and features of the vault. Also, check out the Special Announcement to learn more about the vault.

PoE Snapshot

A PoE snapshot has been created to align with our vision of “One Voice, One Vote”. The page can be found HERE. This new snapshot will allow for PoE holders to vote on initiatives with a weight of one per person. The PoE snapshot will not take into account GDAO holdings whatsoever, allowing for PoE initiatives to be voted on by PoE holders regardless of their position in GDAO. In the future, we will be weighting the combined votes of the GDAO Snapshot along with the PoE Snapshot in order to come up with a final, fair vote weighting and possibly a quorum increase to further ensure democratic voting is the basis for ALL GDAO initiatives requiring voting. Check out the Gitbook document on PoE voting HERE.

CASH DADDIES Podcast Appearance

This weeks Cash Daddies Podcast featured GDAO as the pick of the week by comedian Chris Neff. Cash Daddies is an ongoing comedy, finance, and general podcast that runs weekly and generally concludes with the four members announcing their picks of the week for Stocks, Cryptocurrency, and Sports Betting. This mention and subsequent social media posts shot GDAO into the public eye and gained us approximately 10% more followers on Twitter as well as many mentions and new members in the telegram. Check out the podcast HERE – the mention is in the last 4 minutes of the podcast.


Directives In progress:

Vault Subsidy

The Vault Subsidy plan will commence on Wednesday, November 24th. This means that the buyback button in the Vault will no longer be grayed-out and ETH will be infused into the buyback logic to buy GDAO on the open market, wrap liquidity, and return the remaining GDAO to the vault – increasing the GDAO holdings per xGDAO. This means that the ratio of GDAO to xGDAO will increase beyond the current ratio of ~1.004 GDAO per xGDAO to a higher value. Anyone who withdraws after a buyback is completed will end up with a higher GDAO amount than deposited.

The subsidy will keep a steady flow of ETH into the buyback contract until new revenue from NFT launches and other services will free-flow into the buyback agent instead. When the buyback is pushed live this Wednesday [PST], there will be a 72 hour window in-between triggering the buyback and the next time when the buyback can be executed. The 3 day buyback execution has been set due to the limit ETH subsidy which will be sent, if the buyback execution is reduced the quicker the ETH will be used.


Directives Upcoming:

Wheelies NFT Launch

Progress continues working with the Wheelies team towards the release of the 7,777 unique characters. Check out their Twitter for more info!

Monster Squad NFT Launch

“Monster Squad” NFT launch currently scheduled for first week of December planned by a dedicated DAO GDAO member. The majority of details will be released via the standard social channels. Stay tuned for more information in the next bi-weekly. Check out Monster Squad HERE on Twitter.

Polygon/ Matic NFT Bridging

The team has considered a few different options for NFT minting on para-chain environments allowing nearly gas-less transactions and weighing those options versus the clarity and optics of running an NFT mint on ETH mainnet. During our search of solutions we found a great tool for bridging NFTs from MATIC to ETH and vice versa. Check out the tool HERE. Also, please refer to the guide on Gitbook Docs to gain a further understanding of the pros and cons of bridging NFTs.

Vulkania Listing

Vulkania is a Cryptocurrency data aggregator similar to Lunar Crush that has immense utility and a great dashboard for an overview of EVERYTHING you need to know about your favorite cryptocurrency in one place. We have reached out to Vulkania who will be listing us officially on the 22nd. Stay tuned to telegram channels for the direct link when it goes live!


Community Updates:

As always we would like to thank the community for their patience and inspiration while waiting on the vault release. The vault is the longest project that GDAO has ever worked on and to finally be able to say it is LIVE is a great thing. The team is very thankful to the community for their ongoing support and their prompt usage of the vault upon release.

We ask that in the coming weeks we continue to ramp up the social media posting as well as continue to utilize tools such as Lunar Crush to capture where we are in regards to social dominance.

Also, keep an eye out for future Twitter Spaces put on by the GAMBS team – coming soon! Check them out on Twitter.

Ambassador_heading

Ambassador’s Update

Hello Governors,

We continue to build documents that will help the GAMBS program be successful and to help GovernorDao at large and are excited to share these documents with the community when completed.

One new development we’ve discussed as a team is to start hosting GAMBS twitter spaces. This would encourage more engagement within our own community and help us to educate and promote GDAO to the crypto Twitter community at large. We are still working out the details around this but will let you know when things are solidified.

We’ve also discussed the potential of having a two-tiered GAMBS Program to help with on-boarding and filling gaps and to spread out our reach and productivity, this way if one person needs to step down or go on vacation the secondary ambassador would take on the primary ambassador’s duties. We will be putting forward a proposal in December that highlights the specific updated details within the current framework of the GAMBS program.

Lastly, we welcome back @treelyfe! If you have any suggestions about what you would find helpful for the GDAO community or would like to help out in this working group please dm @ethldgr, @treelyfe, or @blake4liberty on telegram.


From your fellow Governors:

@Blake4Liberty, @TreeLyfe, @Blakeburrito, @ETHLDGR, @netminer, @Rorschach_was_right, @Tedz_1, @Swigglewiggle

In progress

  • @Netminer is working to connect Discord with Zapier/IFTT to recognize and funnel specific hashtags on Twitter into a dedicated channel to help the community better target our audiences for engaging, educating, and outreach opportunities 
  • Developing Template for onboarding ‘General Use Case’ PoE partnerships using google sheets @ ETH LDGR
  • Creating FAQ for DAOs/GDAO for Ambassadors to use in Twitter Spaces to educate new folks and bring more eyes on GDAO and promote education in the Crypto Twitter space @Netminer
  • Input all the fields needed to complete @Tedz Sales funnel for PoE signups @Treelyfe, @ ETH LDGR, @Blake4liberty

Completed

  • @ETH LDGR/@Blake4Liberty created ‘General Use Case’ PoE Quick Pitch Document/Thread
  • @ETHLDGR/@Netminer/@Blake4Liberty created ‘NFT’ PoE Quick Pitch Document
  • @Rorschach social media posts across multiple channels
  • @Treelyfe completed GDAO Twitter Thread Document for GaaS
  • @Tedz developed a PoE Sales Funnel Template and Script

Thanks for your patience loyal community and look forward to providing more updates in the near future.