DeXe Protocol - Announcements

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📊State of the DAOs - May 2nd

DAO treasuries lost $630M but DAOs and members growing.

📝DAO News

▪️DAO Tokyo brought together crypto leaders.

▪️CityDAO is building a decentralized blockchain city.

▪️Wyoming and Utah adopting pro-DAO legislation.

▪️Airbitrum gave 90 million ARB to 125 DAOs.

▪️OlympusDAO deploying OHM LP pairs on Arbitrum.

▪️Angle DAO is relaunching its borrowing module on multiple networks.

▪️Gitcoin grants are back and its DAO just approved spending $95k in GTC on funding.

👥DAO Proposals

This week’s two high-importance proposals are by Gelato (allocating funding for later) and the Friends With Benefits DAO (splitting into a for- and non-profit entities).

There are 23 medium and 34 low-importance proposals active this week, most about Parameters (21) or Team (20).

🔝Most Active DAOs

▪️loveeachother
▪️PancakeSwap
▪️Arbitrum-named DAOs
▪️Rari Capital DAO
▪️2021eth

📖Details (with stats, pics, and links) in the full article 👉 here

💡DeXe DAO April Update

This April, DeXe continued integrating the front-end with the smart contracts, fine-tuning the off-chain voting mechanisms, and implementing external auditor feedback to make the code even more hack-proof.

✅Contributor Dmytro Kotliarov talked about how DAOs affect employee rights (in Ukrainian), shared the lessons he learned during the 1+ year of Russia’s invasion of Ukraine, explored the topic of how DAOs can affect the startup ecosystem, and did an AMA with our friends at Lysithea Ventures. Meanwhile, Yuri Hotovyi, dissected the Silicon Valley Bank situation.

📌Speaking of outreach and education, DeXe DAO now has its own substack — subscribe here to get all the latest from DeXe. And if you haven’t noticed, we’re now publishing a Have you seen our weekly DAO and DeFI digest?

📖Our articles looked into Arbitrum’s AIP-1 fiasco, Snapshot off-chain voting, and on-chain voting.

DeFining news: April 28th, 2023 📢

▪️Google is deepening its journey into Web3 with a Polygon partnership and an accelerator program.

▪️California is implementing a web wallet to let people pay for some services in crypto.

▪️Usage of LayerZero has recently tripled, though the fact it happened after the ARB airdrop raises questions about drop farming.

▪️XEN quickly rose from near obscurity to taking up a whopping 11% of Ethereum gas usage.

▪️Filecoin is taking on Google And Amazon with Filecoin Web Services. 

▪️114 memecoins were launched from one wallet in one month.

▪️Analysis shows that 90% of DeFi services fade once hacked.

▪️Robinhood launches a self-custody wallet and dApp on-ramp.

▪️Xitram token airdrop’s last-minute cancellation on an Arbitrum DEX causing a bit of a scandal.

🗳DAO on-chain voting: Myth or Reality?

▪️Is onchain voting being used for frequent and meaningful DAO governance?

⚠️A mere 8% of DAOs use exclusively on-chain voting.

DAOs use a variety of tools for on-chain voting and it’s a bit of a mess. There is no single tool for onchain voting.

▪️How decentralized are DAOs if most are controlled by less than 10 addresses?

❕Delegation should help but there are yet to emerge clear mechanisms for delegate selection and transparency.

There are a lot of governance transactions that have no value for governance, instead just trying to get future airdrops.

❗️Notably, it cumulatively costs DAO members millions of dollars to vote onchain.

DeXe DAO constructor aims to solve these problems by making it easy to reward voting, proposal, and execution activity while also giving different voting types flexibility options🔥

📖Learn about the pitfalls and hidden costs of onchain voting in the full article 👉 here

📊State of the DAOs - April 25th

DAO treasury dropped $4B but the number of active voters finally broke through 30%

📝DAO News

▪️California is drafting a legal framework for DAOs

▪️A research paper took a deep dive into on-chain voting

▪️DAO Times put together a list of digging through DAO proposals

▪️Yuga Labs won a copyright lawsuit against a copycat and ApeCoin DAO is releasing $1M to fund public goods projects

▪️Aptos DAO introduced delegated staking

▪️Scaling DAOs with zk proofs

▪️Using quadratic funding for DAOs to fund publicgoods

▪️72% of MetaTrekkers DAO voted to launch a 10-month entertainment series in Decentraland

👥DAO Proposals

▪️This week’s only high-importance proposal is by Silo DAO and concerns disabling XAI as collateral

▪️Almost all of the proposals concern either Parameters (14) or Team (25)

🔝Most Active DAOs

The Top 5 by proposal activity:

▪️PancakeSwap
▪️Iwan
▪️AlexDAO
▪️Arbitrum-named DAOs
▪️NFT Finance

📖Details (with stats and pics) in the full article 👉 here

DeFining news: April 21st, 2023 📢

▪️The new wave of memecoins is here, with PEPE rallying 500x and taking up 7% of ETH gas usage.

▪️A16z is getting into the L2 game with Magi.

▪️Uniswap v3 is launching on the Polygon zkEVM.

▪️ETH supply has dropped by 100k ETH since the merge.

▪️A mysterious wallet exploit targets only OG crypto holders. Stole over $10M already.

▪️Maple Finance launched a pool for US Treasury yields this week.

▪️In regulatory news, the SEC is basically trying to define many DeFi protocols as “exchanges” — and crypto experts are worried.

▪️Meanwhile, Hong Kong ruled that crypto is property.

▪️Why did Solana’s network crash so hard in April? They just published a detailed post mortem report.

▪️A sandwich bot made $950k in one attack this week.

▪️SUI network announced that it will sell tokens at discounted prices to those who supported the network early.

Just ⏰ 2 hours ⏰ until our AMA with our friends at Lysithea Ventures.

🔹 https://t.me/panteragroup

Got questions? This is the perfect chance to ask them.

💬Hey DeXers, our core contributor, Dmitro Koltiarov is going live tomorrow to answer all kinds of questions in an AMA with our friends at Lysithea Ventures.

▪️Date: 21 Apr 2023
▪️Time: 1 pm UTC (10 pm KST)
▪️Where: https://t.me/panteragroup

Come check it out and ask some questions too!

📊State of the DAOs - April 18th

Big bump in DAO treasury funds ($3B); smaller one in new members (44k). The Top 5 still has the Iwan DAO topping the list.

📝DAO News

▪️Aave’s v3 now has risk steward roles for smart contracts.

▪️Olympus DAO’s new treasury strategy recommends maximum protocol exposure of 60%

▪️Gitcoin will create a trading card game that promotes the core values of regen finance.

▪️Uniswap v3 launched on Polygon’s zkEVM.

▪️Arbitrum has more than 5 million users.

👥DAO Proposals

▪️This week’s sole high-importance proposal is about Bancor releasing Carbon, a decentralized protocol for asymmetric liquidity and trading.

▪️There are 23 each of medium and low importance proposals.

▪️The focus is on the team and on defining DAO parameters.

🏆 Rewards

▪️SUI will sell tokens at discounted prices to those who supported the network early.

▪️Meanwhile, Vela Exchange went the classic way and confirmed “wen drop.”

📖Details (with stats, pics, and links) in the full article 👉 here

DeFining news: April 14th, 2023 📢

▪️ETH broke $2k after the Shapella upgrade.

▪️Per Buterin, Ethereum will now focus on scalability.

▪️Voltz saw a rise of volume for swaps between fixed and variable rates in DeFi lending markets.

▪️One hacker exploited a Yearn.finance contract and minted 1 quadrillion of yUSDT.

▪️In the meantime, developers blocked a potential 8-figure exploit via Ethermint in the Cosmos ecosystem.

▪️Ethereum blockchain is losing users to other chains like Tron and the BNB chain despite the general fall in Ethereum gas prices.

▪️The PureFi project released the SafeTransact tool to notify users of suspicious on-chain activity.

▪️Uniswap launched a mobile wallet.

▪️There is a trader with a massive $46M of cbETH collateralized on Aave right now.

▪️Solana has announced a Web3 native smartphone.

▪️Sushi promised to fully reimburse every user who lost funds in the $3.4M hack.

▪️zkSync’s Era offering passed $200M in TVL.

📌Is Snapshot off-chain voting working for DAOs?

Snapshot is set up to offer a quick and comprehensive off-chain experience that is very close to DAO voting. But is it?

✅Snapshot has over 13k “spaces” using it, aka DAO communities. 10k of them on Ethereum, 1.5k on Polygon, 1.3k on the BNB Chain, and so on. And they’re certainly active: nearly 29k users authored over 84k proposals, and over 1.7M voters cast nearly 10.4M votes.

The Optimism Collective and the STG DAO are the most active spaces, each with over 1M votes cast. Meanwhile, in terms of the sheer number of proposals, PancakeSwap leads the pack with over 1.7k proposals.

⚠️Except… there are actually two PancakeSwap spaces. And it’s not so easy to tell the real one from the fake.

Learn about the curious case of two PancakeSwaps and how Snapshot works in the full article 👉 here

📊State of the DAOs - April 11th

DAO numbers growing slowly this week (TVL +659М; members +19.6k).

📝DAO News

▪️Arbitrum’s AIP-1 saga continues.

▪️DAO Times doing an NFT drop.

▪️Using DAO-like principles to reform Dutch healthcare.

▪️VitaDAO forms a for-profit entity for longevity research.

▪️Aragon and Polygon Labs collab on a DAO builder.

▪️Moon DAO secures 22 spots for a Zero-G experience.

▪️In 2022, the top 10 DAOs spent $55M developing product.

▪️This legal wrapper framework from DAO Box can help DAOs stay compliant.

▪️dYdX is dropping Canadian customers because of regulations there.

▪️Sushi DAO’s key contributor subpoenaed in the US.

👥DAO Proposals

Only one high-importance proposal this week — Arbitrum’s 1.2, their attempt to do governance right this time. 22 medium and 24 low importance.

🔝Most Active DAOs

An unknown, 0 TVL/member DAO by the name of Iwan passed 119 proposals👀

Details (with stats, pics, and links) in the full article 👉 here

DeFining news: April 7th, 2023 📢

▪️DOGE price has exploded after Elon Musk changed the logo of Twitter to the Doge image - and then fell back down.

▪️As stETH withdrawals approach on April 12th, Lido’s are apparently at least a month away.

▪️Arbitrum’s core team is revising its Foundation funding proposal to include a detailed $36M annual budget and a four-year vesting schedule.

▪️Several DEX projects are trying to implement better order books with limit orders, higher throughput, and other features traditional CeFi traders are used to.

▪️PancakeSwap’s v3 is launching on both BNB and Ethereum.

▪️Avalanche’s “Evergreen” subnet aims to connect institutions to the blockchain.

▪️Hacker of Sentiment returned 90% of stolen funds just like the hacker of Euler earlier did.

▪️With OpenSea about to launch its Pro version, questions mount.

▪️zkSync deposits topped $110M - worth the hype?

▪️According to Immunefi, 73.3% of rug pulls in Q1 happened on BNB.

❕Did Arbitrum just commit the first DAO seppuku?

Arbitrum DAO botched its first proposal (AIP-1) by already taking - and starting to spend - the $750M out of the $4.27B previously allocated to the DAO treasury.

📌Understandably, a number of $ARB holders and delegates became outraged at this spending of funds yet to be approved by the DAO, and the proposal ultimately failed to pass. Here is the detailed reasoning of Arbitrum’s 2nd biggest delegate.

The team then backtracked and explained that only $3.52B was meant for the treasury and the $750M was always meant for the Foundation.

🔹What upset people so much is the convoluted way in which Arbitrum’s foundation declared this post factum and tried to pass it off as a genuine proposal up to the DAO’s members to decide.

📖So what’s next? Read the full article for details 👉 here

📊State of the DAOs - April 4th

• Total DAOs: 12275
• Total Treasury: 24.5B (+6.7B from previous week)
• Total members: 6.8M (+113.6k from previous week)
• Active members: 28%
• DAOs with 100+ members: 2.1%

Arbitrum is now 2nd in the Top 5 DAOs.

📝DAO Proposals

▪️Arbitrum’s AIP-1 fiasco: Core team requested approval for a $750M allocation that it already started spending.

▪️Treasure.lol and GMX.io got the biggest $ARB grants and both are active with proposals.

▪️Beyond Arbitrum, there is only one proposal active this week that is deemed of high-importance by Messari.

Messari counts 23 medium-importance active proposals and 33 low-importance ones this week.

👥 Most Active DAOs

▪️PancakeSwap was by far the most active DAO this week, doubling the number of proposals by the next two most active DAOs, Index Coop and Decentraland.

🔔Popular airdrop candidates

•Arbitrum Nova
•Scroll
•LayerZero
•Base (Coinbase’s L2 solution)

Details (with stats, pics, and links) in the full article 👉 here

DeFining news: March 31st, 2023 📢

▪️Stakers will be able to gradually start withdrawing their ETH starting on April 12th.

▪️A California judge ruled that any holder of a governance token can be legally liable for hacks.

▪️AAVE will launch its lending service on the Polygon zkEVM, which itself just went live on mainnet.

▪️ConsenSys just opened up the public test net for its Linea zkEVM.

▪️Trader Joe has become the fastest-growing one thanks in part to copying the Uniswap v3 model.

▪️Citi is convinced that trillions of assets could be tokenized.

▪️There have been 700k transactions so far on meme coin’s Shiba Inu’s Puppynet testnet.

▪️Silicon Valley thought leader Balaji Srinivasan bet $1M that BTC will hit $1M in 90 days.

▪️MakerDAO just ratified a Constitution, aiming to even further decentralize itself and its DAI stablecoin.

Details in the full article 👉 here

💡March is almost over and it was about one word: DAO.

Interesting DAO-themed articles in
Hackernoon, in Ukrainian on Speka, and a step-by-step guide on decentralizing your company into a DAO. Members of our DAO are spreading the word about DeXe: from ETH Porto to Paris Blockchain week to ETH Denver.

We also held a Twitter space AMA

DEXE DAO members are getting even more ways to swap between ERC-20 and BEP-20 thanks to our governance token’s integration into the Multichain Bridge.

The behind-the-scenes technical work is in full swing:

▪️Contract development is fully completed
▪️We’re actively working with several external auditors
▪️Frontend development is full steam ahead with 320212 rows of code added so far
▪️Documentation for smart contracts is completed

Getting ready to release a core product that is well-audited and functions just like you want it to.

❕Exciting times ahead - stay tuned!

DAOs are the death of the centralized Internet

Web3 is the decentralized alternative to the old Internet. It’s better than Web2 because of:

▪️Decentralization of architecture away from a few big tech companies into a vast network of computers and DAOs.

▪️User ownership of their data and control over how it’s used and/or monetized.

▪️Interoperability of Web3 applications and services instead of the siloed Web2 approach.

▪️(mis)Trust in centralized banks and tech giants is replaced with smart contracts.

▪️Privacy via a culture of pseudonyms and a number of privacy controls make Web3 preferable to Web2, where companies collect and sell user data.

📌DAOs (Decentralized Autonomous Organizations) are essential to Web3 for a number of reasons 👉 read

Is DeFi Asset Management really safe and effective?

Join us for a discussion with a DeXe core contributor, Dmitriy Kotliarov, about it.

Topic:
DeFi Asset Management: Can it really be safe and effective?

🗓 March 29th
⏰ 12:00 p.m UTC
📍Twitter space

Tune in for a chance at part of the $150 in $DEXE Prize Pool (make sure to follow our socials to qualify!)
$100 divided between 4 winners via LInk3.
$50 awarded during our LIVE talk for the best audience question.