And just like that, the latest DeXe social activity is over. 🏁
✅10 people won 20 USDT each. Were you one of them?
Go check!
✅10 people won 20 USDT each. Were you one of them?
Go check!
🔥2
Holy DAO! ⛔️ Not every proposal is the same. So why have the same quorum size, voting length, validator settings, etc. for a routine technical proposal as for one deciding the fate of 50% of your treasury?
✅ Instead, with DeXe's DAO constructor, you can set custom parameters for each proposal type, giving each proposal type the best chance to succeed and to benefit your DAO!
Customize:
✔️voting length
✔️quorum size
✔️validator settings
✔️automatic reward distribution for growing the DAO, and more.
Give each proposal type the beat chance to succeed and to benefit your DAO!
✅ Instead, with DeXe's DAO constructor, you can set custom parameters for each proposal type, giving each proposal type the best chance to succeed and to benefit your DAO!
Customize:
✔️voting length
✔️quorum size
✔️validator settings
✔️automatic reward distribution for growing the DAO, and more.
Give each proposal type the beat chance to succeed and to benefit your DAO!
👍4
DeFining news: May 12th, 2023 📢
▪️Tether (USDT) reported a record reserves surplus of $2.4B.
▪️U.S. Department of Commerce sided with Coinbase against the SEC. And Texas even wants to include the use of digital currencies into the state’s Bill of Rights.
▪️As Bitcoin gas fees spike, BSV and other Bitcoin forks gain in price.
▪️There are more ETH staking deposits than withdrawals now.
▪️Ethereum’s Beacon chain stopped finalizing transactions for half an hour but then recovered.
▪️Deloitte is going to use the Kilt protocol (based on Polkadot) for its KYC verification processes.
▪️Sushiswap is launching concentrated liquidity on 13 blockchains in a fork of Uniswap’s v3.
▪️China is opening a center to train half a million distributed ledger technology (DLT) specialists.
▪️MetaMask will now allow users to buy ETH via PayPal.
📖For more details, see the full digest 👉 here
▪️Tether (USDT) reported a record reserves surplus of $2.4B.
▪️U.S. Department of Commerce sided with Coinbase against the SEC. And Texas even wants to include the use of digital currencies into the state’s Bill of Rights.
▪️As Bitcoin gas fees spike, BSV and other Bitcoin forks gain in price.
▪️There are more ETH staking deposits than withdrawals now.
▪️Ethereum’s Beacon chain stopped finalizing transactions for half an hour but then recovered.
▪️Deloitte is going to use the Kilt protocol (based on Polkadot) for its KYC verification processes.
▪️Sushiswap is launching concentrated liquidity on 13 blockchains in a fork of Uniswap’s v3.
▪️China is opening a center to train half a million distributed ledger technology (DLT) specialists.
▪️MetaMask will now allow users to buy ETH via PayPal.
📖For more details, see the full digest 👉 here
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📌Corruption is the scourge of society at all times. It seems that no amount of regulation and control can defeat it. But we think DAO and blockchain have a good chance 🔥
Why? Read in our in-depth study:
📖 DAO Against Corruption. How to defeat society's worst sin?
Why? Read in our in-depth study:
📖 DAO Against Corruption. How to defeat society's worst sin?
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What you can learn from Impact DAOs
📍Tue, May 16, 2023
🕟16:30 UTC
What can you learn from Impact DAOs? Join us for a discussion with Deepa, the author of the Impact DAO Book.
✅Tune in for a chance at part of the $100 in $DEXE Prize Pool, make sure to follow all conditions to qualify!
❕Join!
📍Tue, May 16, 2023
🕟16:30 UTC
What can you learn from Impact DAOs? Join us for a discussion with Deepa, the author of the Impact DAO Book.
✅Tune in for a chance at part of the $100 in $DEXE Prize Pool, make sure to follow all conditions to qualify!
❕Join!
👍2
❕❕Is most DAO governance fake? Study of nonsensical DAO activity.
Tens of thousands of wallets making and voting on proposals have zero governance value. What can be done about these nonsensical DAOs?
📌The situation is bad: Top 5 of the most active DAOs includes a lot of mostly unknown DAOs.
➖For example, Iwan DAO had 136 proposals in the past week, all of them about… logging weight.
➖2021eth had 47 proposals… all of them are spam about memecoins, NFT drops, and the like. $PEPE, of course, is front and center.
Not surprisingly, 2021eth has zero tokenholders and nothing in its treasury.
✅If Iwan and 2021eth want to use a Ferrari to drive around a mini-golf course, fine. But this should not count as a DAO for compiling statistical sets of DAO governance. The data we are seeing is littered with nonsensical DAOs.
📖How to fix this? Find out in the full article 👉 here
Tens of thousands of wallets making and voting on proposals have zero governance value. What can be done about these nonsensical DAOs?
📌The situation is bad: Top 5 of the most active DAOs includes a lot of mostly unknown DAOs.
➖For example, Iwan DAO had 136 proposals in the past week, all of them about… logging weight.
➖2021eth had 47 proposals… all of them are spam about memecoins, NFT drops, and the like. $PEPE, of course, is front and center.
Not surprisingly, 2021eth has zero tokenholders and nothing in its treasury.
✅If Iwan and 2021eth want to use a Ferrari to drive around a mini-golf course, fine. But this should not count as a DAO for compiling statistical sets of DAO governance. The data we are seeing is littered with nonsensical DAOs.
📖How to fix this? Find out in the full article 👉 here
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🔔 In just 3 hours we'll host Deepa of ImpactDAOs for a DAO Talk about effective and impact DAOs. Must hear for anyone who ever wanted to be in a DAO.
Tune in on our Twitter at 16:30 UTC.
📍Details here: https://link3.to/e/6coaok
PS. Yes, there will be prizes via Link 3 🎁
Tune in on our Twitter at 16:30 UTC.
📍Details here: https://link3.to/e/6coaok
PS. Yes, there will be prizes via Link 3 🎁
🔥3
📊State of the DAOs - May 16th
DAO treasuries lost $1.8M. Member involvement is up to 31.8% now and 2.2% DAOs have 100+ members.
📝DAO News
▪️Arbitrum DAO has already earned 3,350 ETH ($6.2M) in transaction revenue.
▪️DeusDAO recovered $5.5M out of $7M stolen.
▪️BitDAO is proposing to get rid of the BIT token.
▪️Aragon is taking measures to be compliant with Swiss regulations.
▪️MakerDAO has an Endgame now.
▪️Decentralizing oncology may be able to help collab better on cures and treatments.
▪️Researchers in Singapore designed a more efficient DAO voting scheme.
▪️BitMEX cofounder believes consumers care more about convenience than decentralization.
👥DAO Proposals
No high-importance proposals this week, just 27 medium and 36 low-importance ones.
Most proposals concern Team (32) and Parameters (22).
🔝Most Active DAOs
▪️Iwan
▪️Pao Pao
▪️guodanpi
▪️2021eth
▪️PancakeSwap
📖Details (with stats, pics, and links) in the full article 👉 here
DAO treasuries lost $1.8M. Member involvement is up to 31.8% now and 2.2% DAOs have 100+ members.
📝DAO News
▪️Arbitrum DAO has already earned 3,350 ETH ($6.2M) in transaction revenue.
▪️DeusDAO recovered $5.5M out of $7M stolen.
▪️BitDAO is proposing to get rid of the BIT token.
▪️Aragon is taking measures to be compliant with Swiss regulations.
▪️MakerDAO has an Endgame now.
▪️Decentralizing oncology may be able to help collab better on cures and treatments.
▪️Researchers in Singapore designed a more efficient DAO voting scheme.
▪️BitMEX cofounder believes consumers care more about convenience than decentralization.
👥DAO Proposals
No high-importance proposals this week, just 27 medium and 36 low-importance ones.
Most proposals concern Team (32) and Parameters (22).
🔝Most Active DAOs
▪️Iwan
▪️Pao Pao
▪️guodanpi
▪️2021eth
▪️PancakeSwap
📖Details (with stats, pics, and links) in the full article 👉 here
👍2
💡Flexible reward system
Instead of figuring out each time how to motivate your DAO's active contributors, you can set up an automatic system as flexible as your needs.
Automatically reward members for:
✔️voting
✔️proposing
✔️executing proposals
📌Proper incentives encourage DAO members to build, to get involved in ways that are beneficial to them individually and the DAO as a whole.
Let's reward effective activity — not hinder it!🔥
Instead of figuring out each time how to motivate your DAO's active contributors, you can set up an automatic system as flexible as your needs.
Automatically reward members for:
✔️voting
✔️proposing
✔️executing proposals
📌Proper incentives encourage DAO members to build, to get involved in ways that are beneficial to them individually and the DAO as a whole.
Let's reward effective activity — not hinder it!🔥
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DeFining news: May 19th, 2023 📢
▪️Institutional investors are getting easier access to DeFi governance via Anchorage’s custodial accounts.
▪️The EU introduced a clear Markets in Crypto Assets (MiCA) crypto framework.
▪️Blur’s NFT-backed lending platform, Blend, has already done 100k ETH of volume in just 17 days post-launch.
▪️Ledger’s wallet recovery feature faced a lot of backlash.
▪️A bankruptcy judge excluded 48,000 of BlockFI’s interest-bearing account holders from the settlement.
▪️Gala burned 21 billion team tokens to avoid fears of a token dump.
▪️Worldcoin is having to modify its verification methods as Chinese users are simply buying random strangers’ iris scans - for ~$30 each - to get in.
▪️Uniswap is coming to Polkadot via the Moonbeam parachain.
▪️LayerZerohas launched a $15M bug bounty in partnership with Immunefi.
📖For more details, see the full digest 👉 here
▪️Institutional investors are getting easier access to DeFi governance via Anchorage’s custodial accounts.
▪️The EU introduced a clear Markets in Crypto Assets (MiCA) crypto framework.
▪️Blur’s NFT-backed lending platform, Blend, has already done 100k ETH of volume in just 17 days post-launch.
▪️Ledger’s wallet recovery feature faced a lot of backlash.
▪️A bankruptcy judge excluded 48,000 of BlockFI’s interest-bearing account holders from the settlement.
▪️Gala burned 21 billion team tokens to avoid fears of a token dump.
▪️Worldcoin is having to modify its verification methods as Chinese users are simply buying random strangers’ iris scans - for ~$30 each - to get in.
▪️Uniswap is coming to Polkadot via the Moonbeam parachain.
▪️LayerZerohas launched a $15M bug bounty in partnership with Immunefi.
📖For more details, see the full digest 👉 here
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💡Case Study: Passion DAOs
Analysts often talk about strong fundamentals. Rarely does this mean the passion of the founders and of the community. And that’s a shame since DAOs built on passion are poised to succeed in both bull and bear markets, keeping cohesiveness and effectiveness to achieve common goals.
📌We took a look at the DAO landscape and profiled a couple of passion-driven DAOs and one that may be more of a fad. What did we find? And what to do when passion runs out?
📖Find out in the full article 👉 here
Analysts often talk about strong fundamentals. Rarely does this mean the passion of the founders and of the community. And that’s a shame since DAOs built on passion are poised to succeed in both bull and bear markets, keeping cohesiveness and effectiveness to achieve common goals.
📌We took a look at the DAO landscape and profiled a couple of passion-driven DAOs and one that may be more of a fad. What did we find? And what to do when passion runs out?
📖Find out in the full article 👉 here
❤2
📊State of the DAOs - May 23rd
Total DOA treasuries rose by $1.3B and members by 13.3k.
📝DAO News
▪️A governance attack on Tornado Cash has a plot twist: the hacker proposes to give back control.
▪️Aragon restructured its $177M treasury into developer grants to prevent a governance attack.
▪️Lido’s community is considering staking and/or buyback options for its LDO token.
▪️The Founder of MakerDAO wants it to have its own blockchain along with new MKR and DAI tokens.
▪️Some investors are suing Bancor DAO for failed promises of Impermanent Loss protection.
▪️The BIT token will become MANTLE, as BitDAO’s BIT-21 passes.
▪️A bug in Aave v2 on Polygon is getting some user assets stuck.
👥DAO Proposals
No high-importance proposals but 23 medium and 41 low-importance ones, mostly Team (36) and Parameters (16).
🔝Most Active DAOs
▪️Iwan - 159
▪️Pao Pao -147
▪️PancakeSwap - 41
▪️Rari Capital DAO - 26
▪️Fantom - 23
📖Details (with stats, pics, and links) in the full article 👉 here
Total DOA treasuries rose by $1.3B and members by 13.3k.
📝DAO News
▪️A governance attack on Tornado Cash has a plot twist: the hacker proposes to give back control.
▪️Aragon restructured its $177M treasury into developer grants to prevent a governance attack.
▪️Lido’s community is considering staking and/or buyback options for its LDO token.
▪️The Founder of MakerDAO wants it to have its own blockchain along with new MKR and DAI tokens.
▪️Some investors are suing Bancor DAO for failed promises of Impermanent Loss protection.
▪️The BIT token will become MANTLE, as BitDAO’s BIT-21 passes.
▪️A bug in Aave v2 on Polygon is getting some user assets stuck.
👥DAO Proposals
No high-importance proposals but 23 medium and 41 low-importance ones, mostly Team (36) and Parameters (16).
🔝Most Active DAOs
▪️Iwan - 159
▪️Pao Pao -147
▪️PancakeSwap - 41
▪️Rari Capital DAO - 26
▪️Fantom - 23
📖Details (with stats, pics, and links) in the full article 👉 here
❤2
🌪Wow, what a storm of a week for Tornado Cash, right?
First, someone hacked their governance, tricking the DAO's members to vote in favor of giving the hacker full control (via giving him 1.2 million votes vs. everybody else's 700k).
Then the hacker put up a proposal to restore the governance to the old way, basically giving back control.
❓Will the hacker actually give up on the total control of Tornado Cash (and its treasury)?
Or is this a ploy to slow down the selloff of the TORN token (and raise its price) so the hacker could cash out more?
✅Regardless, this is a big flashing warning for all DAOs to be careful with their governance mechanism. Whether via validators, careful quorum settings, or other measures, the need to protect against malicious proposals is crucial for the viability of DAO as a governance form.
First, someone hacked their governance, tricking the DAO's members to vote in favor of giving the hacker full control (via giving him 1.2 million votes vs. everybody else's 700k).
Then the hacker put up a proposal to restore the governance to the old way, basically giving back control.
❓Will the hacker actually give up on the total control of Tornado Cash (and its treasury)?
Or is this a ploy to slow down the selloff of the TORN token (and raise its price) so the hacker could cash out more?
✅Regardless, this is a big flashing warning for all DAOs to be careful with their governance mechanism. Whether via validators, careful quorum settings, or other measures, the need to protect against malicious proposals is crucial for the viability of DAO as a governance form.
👍4
📌A DAO is an almost perfect system of organization. But there are still so many practical pain points in the structure of a DAO that we need to solve.
In the article for Substack, we looked at the main Achilles' heels of DAOs. And what can be done about them.
📖 Read more 👉 here
In the article for Substack, we looked at the main Achilles' heels of DAOs. And what can be done about them.
📖 Read more 👉 here
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💡Check this out: a member submitted a new proposal for our DAO related to legal strategy.
❕Read through it - what do you think? The comments are open. Any proposal benefits from the community’s constructive input.
❕Read through it - what do you think? The comments are open. Any proposal benefits from the community’s constructive input.
🔥3
DeFining news: May 26th, 2023 📢
▪️Solana has introduced a ChatGPT plugin.
▪️Multichain’s token is in freefall after rumors of team members being arrested by Chinese police.
▪️The token launch model pioneered by White Lotus is catching popularity quickly.
▪️The amount of ETH on exchanges hit a 5-year low.
▪️Read Vitalik Buterin’s warning about using Ethereum’s social consensus for resolving conflicts.
▪️There is now $200M worth of tokenized bonds, bringing TradiFi even firmer into the blockchain world.
▪️Tornado Cash suffered a governance attack. Then the same hacker put forward a proposal to give the control back.
▪️The WDZD protocol was hacked for $1.1M by a previously-flagged exploiter
▪️Ripple wants to integrate CBDCs with DeFi primitives.
▪️Bank of Norway has asked the country’s government to develop its own, possibly more stringent crypto regulation than the EU-approved MiCA framework.
📖For more details, see the full digest 👉 here
▪️Solana has introduced a ChatGPT plugin.
▪️Multichain’s token is in freefall after rumors of team members being arrested by Chinese police.
▪️The token launch model pioneered by White Lotus is catching popularity quickly.
▪️The amount of ETH on exchanges hit a 5-year low.
▪️Read Vitalik Buterin’s warning about using Ethereum’s social consensus for resolving conflicts.
▪️There is now $200M worth of tokenized bonds, bringing TradiFi even firmer into the blockchain world.
▪️Tornado Cash suffered a governance attack. Then the same hacker put forward a proposal to give the control back.
▪️The WDZD protocol was hacked for $1.1M by a previously-flagged exploiter
▪️Ripple wants to integrate CBDCs with DeFi primitives.
▪️Bank of Norway has asked the country’s government to develop its own, possibly more stringent crypto regulation than the EU-approved MiCA framework.
📖For more details, see the full digest 👉 here
👍2
💡Since there is a proposal about legal strategy in our DAO's forum, why not invite a legal expert to answer everyone's pressing questions about DAOs and the Law?
And that's exactly what we'll do. Coming up soon is an AMA with a brilliant lawyer who knows crypto well.
🔥Let's use this opportunity to its fullest — ask our guest your question via this quick form.
And that's exactly what we'll do. Coming up soon is an AMA with a brilliant lawyer who knows crypto well.
🔥Let's use this opportunity to its fullest — ask our guest your question via this quick form.
🔥2
🌪Tornado Cash’s whirlwind of a ride is almost over
Tornado Cash got hacked in the most nightmarish way for a DAO — by having its governance process subverted by a malicious actor who got the unsuspecting community to give him the power of 1,200,000 votes while the entire TORN community only has around 700,000 votes.
📌And then, he suddenly proposed to give all the control back. But not before using Tornado Cash’s own mixer to obfuscate the movement of the 483,000 TORN tokens he stole from their treasury, netting around $890,000 in ETH with another $160,000 still held in TORN.
How will it end? Well, there may be a happy ending in sight very soon. And a major lesson for all DAOS.
📖 Find out all the details of this developing governance theft of a lifetime story in the full article 👉 here
Tornado Cash got hacked in the most nightmarish way for a DAO — by having its governance process subverted by a malicious actor who got the unsuspecting community to give him the power of 1,200,000 votes while the entire TORN community only has around 700,000 votes.
📌And then, he suddenly proposed to give all the control back. But not before using Tornado Cash’s own mixer to obfuscate the movement of the 483,000 TORN tokens he stole from their treasury, netting around $890,000 in ETH with another $160,000 still held in TORN.
How will it end? Well, there may be a happy ending in sight very soon. And a major lesson for all DAOS.
📖 Find out all the details of this developing governance theft of a lifetime story in the full article 👉 here
👍1
📊State of the DAOs - May 30th
The number of DAO members dropped while the treasury volume increased.
📝DAO News
▪️BitDAO rebrand and token swap are now official.
▪️PWN did a $2M funding raise for its DeFi mortgage protocol.
▪️MakerDAO has a proposal to raise the DAI savings rate from 1% to 3.3%.
▪️Cabin wants to create self-governing decentralized cities with NFT membership.
▪️Conceptual “hybrid rollups” aim to make Ethereum both scalable and secure.
▪️Stargate DAO voted to reduce its exposure to the stablecoin issued by Multichain.
▪️PancakeSwap released a game that offers $CAKE rewards.
👥DAO Proposals
No high-importance proposals yet again, but 40 each of low and medium-importance ones. MakerDAO, Aave, and Index Coop are especially active.
Most proposals again deal with Team (33) and Parameters (31).
🔝Most Active DAOs
Iwan - 143
Pao Pao - 95
PancakeSwap - 56
Index Coop - 29
lovebnbdao - 25
📖Details (with stats, pics, and links) in the full article 👉 here
The number of DAO members dropped while the treasury volume increased.
📝DAO News
▪️BitDAO rebrand and token swap are now official.
▪️PWN did a $2M funding raise for its DeFi mortgage protocol.
▪️MakerDAO has a proposal to raise the DAI savings rate from 1% to 3.3%.
▪️Cabin wants to create self-governing decentralized cities with NFT membership.
▪️Conceptual “hybrid rollups” aim to make Ethereum both scalable and secure.
▪️Stargate DAO voted to reduce its exposure to the stablecoin issued by Multichain.
▪️PancakeSwap released a game that offers $CAKE rewards.
👥DAO Proposals
No high-importance proposals yet again, but 40 each of low and medium-importance ones. MakerDAO, Aave, and Index Coop are especially active.
Most proposals again deal with Team (33) and Parameters (31).
🔝Most Active DAOs
Iwan - 143
Pao Pao - 95
PancakeSwap - 56
Index Coop - 29
lovebnbdao - 25
📖Details (with stats, pics, and links) in the full article 👉 here
👍2
💡DeXe DAO May Update
While development work is ongoing, the community is growing with initiatives like the DeXe Social Activity Party and informational conversations like the one with Deepa of ImpactDAOs.
📌Check out this member-submitted proposal on updated legal strategy.
✅Check out DeXe thought pieces on DAO Money Heist, where savvy criminal operators manipulate DAO governance to enrich themselves. And about Nonsensical DAOs, whose voting and proposal behavior does not seem to serve any actual governance purposes.
Did you hear about a hacker stealing governance and treasury funds from the Tornado Cash DAO? On the other hand, in Passion DAOs, a strong belief in a cause drives useful and beneficial member behavior.
❕In June, there is an upcoming AMA with a legal expert. Pre-ask your burning legal questions via this form.
While development work is ongoing, the community is growing with initiatives like the DeXe Social Activity Party and informational conversations like the one with Deepa of ImpactDAOs.
📌Check out this member-submitted proposal on updated legal strategy.
✅Check out DeXe thought pieces on DAO Money Heist, where savvy criminal operators manipulate DAO governance to enrich themselves. And about Nonsensical DAOs, whose voting and proposal behavior does not seem to serve any actual governance purposes.
Did you hear about a hacker stealing governance and treasury funds from the Tornado Cash DAO? On the other hand, in Passion DAOs, a strong belief in a cause drives useful and beneficial member behavior.
❕In June, there is an upcoming AMA with a legal expert. Pre-ask your burning legal questions via this form.
👍2🔥2
DeFining news: June 2nd, 2023 📢
▪️Deutsche Telekom will become a validator for the Polygon L2 network.
▪️Fantom to start paying developers 15% of any fees their dApps generate.
▪️A group of Australian and US scientists are proposing Bitcoin mining via quantum consensus to make Bitcoin mining faster and more energy efficient.
▪️Curve’s new crvUSD stablecoin is so far trading within just a 0.5% range in its first month.
▪️FDUSD is a stablecoin tied to the USD but under Asian regulations.
▪️Speaking of stablecoins, Circle’s native USDC is coming to Arbitrum, replacing the proxy.
▪️US Federal Reserve’s data shows that fully 10% of US adults hold crypto.
▪️A telegram bot trading memecoins raked in a whopping $4.5M in fees in May.
▪️Jimbos Protocol hacker is ignoring the $800k bounty to return the loot, so it’s now available to the public.
▪️The developers of the Yuan stablecoin have seemingly been arrested.
📖For more details, see the full digest 👉 here
▪️Deutsche Telekom will become a validator for the Polygon L2 network.
▪️Fantom to start paying developers 15% of any fees their dApps generate.
▪️A group of Australian and US scientists are proposing Bitcoin mining via quantum consensus to make Bitcoin mining faster and more energy efficient.
▪️Curve’s new crvUSD stablecoin is so far trading within just a 0.5% range in its first month.
▪️FDUSD is a stablecoin tied to the USD but under Asian regulations.
▪️Speaking of stablecoins, Circle’s native USDC is coming to Arbitrum, replacing the proxy.
▪️US Federal Reserve’s data shows that fully 10% of US adults hold crypto.
▪️A telegram bot trading memecoins raked in a whopping $4.5M in fees in May.
▪️Jimbos Protocol hacker is ignoring the $800k bounty to return the loot, so it’s now available to the public.
▪️The developers of the Yuan stablecoin have seemingly been arrested.
📖For more details, see the full digest 👉 here
❤3