🥧Inside the Bakery 24: DOUGH Staking and Party Zombies
PieDAO's newsletter with updates on DOUGH staking, impression mining, partnerships, and a recap of LisCon.
Welcome back to Inside the Bakery. It’s been a busy October so we put this newsletter together as a recap of everything that went down. From DOUGH staking, zombies and the party in between, we have you covered!
DOUGH staking
Above and Beyond
If you would have asked us in early October if DOUGH staking would be a success you would have gotten a "yes". And looking at the key stats a month after launch we can see the numbers back us up.
The numbers (As of the time of this writing):
50.23% (+10.5 million) of total circulating DOUGH (Not DAO owned) is locked*
42.25% (+10.5 million) of total circulating DOUGH (Including DAO owned) is locked*
+10.7 million veDOUGH minted
34 months is the average DOUGH time lock (2 years, 10 months!)
252 voting addresses
As a reminder, members who participate in any active vote using veDOUGH by October 31st will get a share of the $1.35M bonus rewards. Yes, an extra SLICE of the rewards.
* Why two percentages? Out of the entire circulating supply of DOUGH (~25.56 million) the DAO owns ~4 million DOUGH. Part of this DOUGH is in liquidity pools and the other is lent to Wintermute although it is still owned by PieDAO. This means a little over 50% of all circulating DOUGH not owned by PieDAO is currently staked!
What is success?
The goal of DOUGH staking is to reward an active and committed community. How do we know our experiment is working? We look for an increase in voting participation. Last month 201 out of 251 eligible addresses voted, or 80% participation! Let's keep it going, chefs.
DOUGH KPI Option
With the passing of PIP-62 veDOUGH holders will receive DOUGH KPI options. These KPI options will be airdropped during the first reward pie minting sometime this week. Successful attainment of the KPI can mean an extra 0.5 DOUGH return per option at expiry.
Update: A wrapper contract that will auto stake expired KPI options is in progress. This auto stake feature will convert expired KPI options to veDOUGH. Details on vesting strategy are in progress. Why? This would avoid a flood of DOUGH hitting the market all at the same time at option expiry. Shoutout to DarkMattereum for this idea!
Ok, I still need to stake
Other resources
How much rewards should I expect? Try our staking rewards simulator here
How-to use the staking reward simulator blog post here
A SLICE of the Rewards
Enough patting ourselves in the back it's time to talk about what matters: Rewards😉. The first reward pie (SLICE) will be ready for distribution to active members early this month. With the passing of PIP-64 PLAY has been selected as the pie distributed as a reward.
Why PLAY?
There is already an existing market, instead of having to create a new one which can be expensive
A self-feeding TVL mechanism for a PieDAO product
This process can be employed to bootstrap liquidity for new pie
Impression Mining
The Experiment Begins
Help the PieDAO brand grow by producing engaging content on social media platforms! Full time token holder, part-time pastry chef, and long eth bull, there is no better ambassador for our project than you! What's the best part? You can get paid for your contributions.
Take a look at our impression mining program and get started today.
Community Contribution Initiative
New Bounty Available
Background: The CCI helps coordinate community member contributions to the DAO via bounties.
A little over a month after launch the CCI has achieved the following.
14 different bounties opened
8 rewards distributed to completed bounties
Do you want to work in a DAO? Well, here's your chance- check out our open bounties and claim yours today! See the bounty board here.
Partnerships
Zombies Among Us
Being a veDOUGH holder is to die for, or at least stay undead. 100 random veDOUGH holders received an exclusive NFT from Zombie State University(ZSU). ZSU is a collection of 8,888 unique NFT tokens on the Ethereum blockchain. And it recently named PieDAO as its Institute of Personal Finance. Each zombie gives you a character to play with in the collaborative world of ZSU. You’ll get exclusive access to a collection of ZSU benefits spanning both the digital and real world. Learn more about ZSU here.
The partnership is part of our new governance mining(DOUGH staking) launch campaign. It is one of the several benefits and exclusive prizes reserved for veDOUGH holders.
GeckoCon’s NFTS Gone Wild
PieDAO has partnered with Cometh to giveaway 10 admission tickets to Coingecko's NFTS Gone Wild event. This online event starts November 17th.
To take part:
Follow @PieDAO_DeFi
Follow @MUSTCometh
Be a member of the #🍳-kitchen Discord channel (To join first head over to #✅get-role)
Retweet the tweet below
Events
uma noite para recordar
PieDAO held two events on Oct. 21st at The Flat, a venue close to LisCon.
The core team attended LisCon where they raised awareness of PieDAO and gave out swag. The team also set aside time to brainstorm and discuss improvements to the DAO.
The Full Time Token Holder hangout was held during the day where the team welcomed community members, partners, and guests interested in our mission.
The real fun was the Full Time Token Holder party. The terrace was full with community members and attendees that came to say hello and have a great time. Guests were served amazing finger food along with drinks. To top it off Luis (Aragon) was serving up the music and the party went up to 2.30am — they had to kick-us out!