🥧Inside the Bakery 29: Community Call Debrief
DOUGH staking hits 12 million, will the PLAY token go synthetic? and much more.
Welcome back to Inside the Bakery. Today’s newsletter will debrief you on the essential topics from last Thursday’s community call.
Treasury APR
11%*
*APR exclude sOHM position
DOUGH staking
Staking at a Glance
We're two months into DOUGH staking! And as of the time of this writing, 43.97% of total circulating DOUGH has been staked.
The numbers:
+12 million in DOUGH staked
+11.7 million veDOUGH minted
34 months is the average DOUGH time lock (2 years, 8 months!)
300 voting addresses
Another Month, Another SLICE
A new month means a new set of rewards for active participants. Last month 201 addresses were eligible to claim DOUGH. This time around that number grew to 229. This is great news, as more members take part in governance our resilience as a DAO grows. Let's keep it up, chefs!
The numbers:
400,000 in SLICE rewards distributed to 229 eligible addresses
~82.3% governance participation rate
SLICE could be redeemed for PLAY
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
120 Days and Still Going Strong
Late last month the TFC released a recap and analysis of the first 100 days which you can find here. If you haven't already, check it out. Below are November highlights:
TFC outperformed the benchmark in November
There is 0% of treasury funds in stables
The TFC is working on a deleveraging plan (reducing debt!)
Following the recent vote, the TFC is formalizing minimum distribution policies
Read the full November report here.
Community Contribution Initiative
Only One Man For The Job
Background: The CCI helps coordinate community member contributions to the DAO via bounties.
November 2021 highlights:
2 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
Linear Finance x PieDAO
Is PLAY going cross-chain? Linear Finance is proposing to list a synthetic PLAY token(ℓPLAY) on Linear.Exchange. The idea is for PieDAO to compose and maintain ℓPLAY. In return, Linear Finance will pay a monthly service fee to PieDAO. Check out the forum proposal here.
Key Performance Indicators
Metaverse is Trending
PLAY is now the PIE with the most holders. SLICE distributions helped but let's not forget the "Metaverse" is trending right now. On another note, active users and posts increased last month on our forum. Our community is thriving, let's keep it going!
The numbers:
With $4.3 Million in TVL, PLAY is our largest pie by TVL
With 546 different holders, PLAY is our most widely held PIE
PieDAO
Double Trouble
Last but not least, we welcome JORDANIZA and VINZ(aka TwinAlien) as part-time contributors to the PieDAO team. They started by completing community bounties!
Thanks for reading!👏Join the PieDAO community today.
Stay tuned for our next community call on January 6th.
Listen to the community call recording and find the presentation slides here. (Forum login required)