🥧Inside the Bakery 26: Community Call Debrief
Monthly rewards have been distributed, treasury farming is on a roll, and a proposed update to USD++.
Welcome back to Inside the Bakery. Today’s newsletter will debrief you on the essential topics from last Wednesday’s community call.
Treasury APR
16%*
*APR exclude sOHM position
DOUGH staking
Staking at a Glance
An entire month after DOUGH staking began here is a glimpse into our progress.
The numbers (As of the time of this writing):
+10.7 million veDOUGH minted
34.9 months is the average DOUGH time lock (2 years, 10 months!)
252 voting addresses
Did you get a SLICE?
Congrats chefs, last Friday was the first ever payday for veDOUGH holders! Below is a snapshot of the distribution.
The numbers:
1.35 million in SLICE rewards distributed to 201 eligible addresses
~76% governance participation rate
SLICE could be redeemed for PLAY. PLAY market cap increases to ~$5.28 million
What am I getting? With the passing of PIP-64 PLAY has been selected as the pie distributed as a reward.
Where are my SLICE rewards? How do I redeem my slice rewards for the underlying pie?
Find the guide to SLICE claiming and redemption here.
DOUGH KPI Option
With the passing of PIP-62 veDOUGH holders will receive DOUGH KPI options. These KPI options will be airdropped next week. Successful attainment of the KPI can mean an extra 0.5 DOUGH return per option at expiry.
Key Points:
KPI options will be distributed to 252 eligible addresses from November 15th to 19th
KPI options prize is currently worth 2 million in veDOUGH, after reaching the milestone of 10 million DOUGH staked
The next milestone is at 15 million DOUGH staked by March 2022. If achieved, the veDOUGH prize increases to 5 million!
Stay up to date with KPI option progress here.
Treasury Farming Committee
TFC Outperformed October’s Benchmark
Not to be outdone, the TFC released October’s positive treasury farming report. Highlights from the report:
The TFC is feeling bullish with only 4% of treasury funds in stables
The TFC favors decentralization with a potential move away from holding stable coins with regulatory oversight
Read the full report here.
Community Contribution Initiative
Here Comes the Squirtle Squad
Background: The CCI helps coordinate community member contributions to the DAO via bounties.
October 2021 highlights:.
6 bounties completed
3 bounties in progress
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.
A closer look
I Need a Dollar
Guzman_MassAdoption's proposal is to modernize USD++ for the web3 of today. Expanding on its foundation as a stable asset by adding yield generating strategies.
Background: USD++ is one of PieDAO's first offerings in the market yet it currently holds the lowest TVL. Launched during last year's DeFi summer USD++ contains four different USD-pegged tokens.
USDC
TUSD
DAI
sUSD
Bottomline: USD++ has been underutilized, this is our chance to remake it. What do you think? What stable coin tokens would you like to see included in the new USD++? Where should the yield go? Make sure to voice your opinion on the forum!
Key Performance Indicators
Forum Engagement through the Roof
The forum is abuzz with activity and we love it. All key indicators saw growth in October. Replies being the indicator seeing the biggest growth at 197 over the last thirty days. Keep it going chefs, your ideas are what will drive this project forward!
DeFi pies saw small drops in TVL
PLAY is now our most held PIE
The numbers:
With $4.8 Million in TVL, PLAY is our largest pie by TVL
With 490 different holders PLAY is our most widely held PIE
One last thing: The sixth period of the DOUGHpamine rewards program ended on Oct 15th.
Thanks for reading!👏Join the PieDAO community today.
Stay tuned for our next community call on December 9th.
Listen to the community call recording and find the presentation slides here. (Forum login required)