Inside the Bakery 41: Community Call Debrief
SLICE Distribution, Treasury Updates, AUXO Migration latest news and more!
Greetings, crypto enthusiasts! Get ready for another exciting edition of our newsletter, packed with all the latest news and developments from the world of PieDAO. This time around, we have a special focus on the highly anticipated Auxo migration. Stay tuned for all the updates and information on this important event. So, buckle up, and let's dive in!
PieDAO Slice Distribution
The distribution of 245,262 Slice tokens was completed on January 6th. 183 eligible veDough holders received the tokens and approximately 41% of holders participated in governance in December. The underlyings remaining are $BCP and $PLAY, and veDough compounding was executed on January 25th. Staking statistics show that 25 million veDOUGH tokens were minted and 568 addresses staked Dough, with an average time lock of 35 months.
Treasury Committee Update
PieDAO's total balance is $4,994,298 and the ETH equivalent is 3,166. The stable exposure is divided between Convex and GMX, with ETH exposure in Idle, Aura, and GMX. The farming APR is 13.6% and the veDOUGH staking APR is 32.29%. Capital utilization is over 99% and 41,531 Slice tokens were compounded.
The Auxo Upgrade
The countdown is on! Our Auxo Migration testnet was released on December 20th and the end-to-end contracts testing is complete. With code audits starting in February, the upgrade is on track for April 2023. And with the buyback program's v2 running smoothly and 2 burning events already completed, we're making big strides in our journey to Auxo.
Community Testing
Our community has been a huge part of our success and we're so grateful for your continued support. That's why we deployed a testnet release on December 20th, giving users the chance to try out the Auxo migration. 25 volunteers have shown interest and 10 have had the chance to test so far, with over 55 improvements identified and 20 fixes deployed. It's all thanks to your feedback that we're able to create a better, leaner, and clearer migration experience for everyone.
Engineering Update
Our engineering team is working tirelessly to ensure that the migration to Auxo is a success. We're currently testing the new Auxo App, as well as implementing on-chain Governance with OpenZeppelin and enhancing smart contract security with GPT-3 static analyzer and Foundry invariant/fuzz.
Closing note
As we move forward with the planned migration to Auxo, we want to keep you informed and updated on all the progress and advancements. Keep an eye out for future updates and follow us on Twitter to stay tuned for all the latest news and developments regarding the Auxo upgrade.
Stay Crusty
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