🥧Inside the Bakery 20: Community Call Debrief
Update on DOUGH staking and other highlights from September's community call.
Welcome back to Inside the Bakery. Today’s newsletter will debrief you on the essential topics from last Friday’s community call.
DOUGH staking
How do you like your stake?
Background: How do we encourage and compensate for active participation in DAO matters? "Governance mining", or in other words, pay for governance. The goal is to place higher value in an active and committed community.
Governance mining means revenues are shared with DOUGH stakers active in DAO governance. Staking participants will stake their DOUGH and receive a new token: veDOUGH.
veDOUGH holders will receive cash flow via the “Reward Pie”. The Reward Pie can include DOUGH, PIEs, and other farmed tokens.
The value of long-term capital is higher than that of short-term capital. This means a longer period of capital commitment will have added incentives. These may include higher voting power and a bigger slice of the rewards.
What's up with that? There is light at the end of the tunnel. The smart contract audit is complete. It found 3 minor issues which are being addressed. The first internal UI review is complete, the second review is on September 22nd.
What’s next? Stay tuned for news on DOUGH staking go-live. The release date will be determined pending completion of the second review scheduled for September 22nd.
A closer look
Visor Finance migration proposal
Background: On last week's community call we had a guest presentation from the folks at Visor Finance. The proposals main components are the following:
Migrate PieDAO's liquidity mining program from Sushiswap to Uniswap v3
PieDAO to adopt Visor Phantom to manage and incentivize liquidity on Uniswap
Ok, why? In short, it aims to automate the liquidity mining experience on Uniswap v3. The benefits to the DAO would be:
Increased revenue from fees
Save money on the DOUGHpamine program
Check out the full proposal here.
Key Performance Indicators
We’re on the right track
How do we know the community is on the right track? First off forum engagement has increased both in interactions and in users. The forum is where ideas turn into action. Without it innovation would end. Thanks to all the pastry chefs who have contributed!
Join our forum and join the latest discussions today.
Non-DeFi pies saw an increase in TVL
There was a slight decrease in DOUGH holders
DeFi focused pies saw small drops in TVL
The numbers:
$2 Million in TVL and 475 holders. PLAY is growing at a consistent pace
With $3.3 Million in TVL, BCP is our largest pie by TVL
One last thing: The sixth period of the DOUGHpamine rewards program began this past Tuesday.
Product Management
Is there a problem here?
Do you have any documentation or UX/UI improvement suggestions? Have you encountered a bug or any smart contract issues? Let us know! We appreciate the PieDAO community for being quick to identify and help with any issues. It's what keeps our pies tasting delicious.
How to report?
Submit a ticket via https://piedao.org/#/support
Send email to support@piedao.atlassian.net
Communication is key
Improving communication and transparency with our members is a key focus for PieDAO. We invite you to learn about our communications plan and our official channels here.
Roadmap
Steady, as she goes part 2
PieDAO is focusing on three areas: Business development, growth and organizational structure. The core team is currently busy developing the innovation roadmap and business strategy. KPIs (Key Performance Indicators) are also in the works and will be shared once available.
Read the Q3/Q4 organizational roadmap here.
Treasury Farming Committee
TFC is outperforming benchmark
A week after the August TFC report the committee gave an update on what has happened since then.
Treasury farming committee has outperformed benchmark by 3.4%
Higher rewards expected by moving funds from Convex/Balancer to Ribbon
Leverage (Borrowing) is being considered either to farm, swap or both
Read the August report here.
Network Growth
Seen around the interwebz
Check out Anastasiya's interview with Fortune Teller Podcast. Topics discussed are DAOs and the permissionless economy. Watch the interview here.
PieDAO is mentioned in Money Magazine. In a piece on diversification both in traditional finance and crypto. Read the article here.
Events: Catch PieDAO at Mainnet 2021 (Sep. 20th) and ETHLisbon.
Thanks for reading!👏Join the PieDAO community today.
Stay tuned for our next community call on October 8th.
Listen to the community call recording and find the presentation slides here. (Forum login required)