This week the team behind the🌵Agave money market and borrowing/lending protocol submitted and collected votes on a new forward-facing proposal. The proposal is a request for matched STAKE incentives (Agave will also provide incentives) to bootstrap the Agave protocol and encourage use.
What’s interesting is the amount of incentives provided to users is not fixed - rewards are directly tied to usage and success of these protocols as well as the success of the xDai chain as a whole. Incentives from the Ecosystem Fund will be distributed based on total value locked in a protocol (or token tvl if this is difficult to calculate) and the STAKE market cap.
These additional KPI metrics encourage the long view and reduce selling pressure, while building strong relations amongst protocols anchoring the xDai ecosystem. Incentives are based on project health and collaboration, with the goal of fostering long-term, sustainable growth.
The finer points of the KPI incentives post are still in active discussion while the community looks at possible refinements. This proposal provides a strong signal from STAKE holders and a work-in-progress template for other projects seeking participation incentives. Overall, the proposal process, governance, and interaction by community members highlights the people-powered ecosystem thriving on xDai.
KPI Incentives post has been viewed 475+ times, and the Agave proposal has been viewed 740+ times, with many viewers voting on specific ideas contained within the posts.
140 voters weighed in on the proposal (with 99.98% of STAKE voted to proceed with the proposal). This is more participation than many projects see with their voting members. Community support and governance is alive and well.
Agave has teamed with Omen to develop metrics related to these incentives. Collaboration amongst disparate projects continues to grow within the xDai ecosystem.
BlockScout + Gitcoin
Speaking of community, nearly 2000 individual community members showed their support for BlockScout this week with a Gitcoin donation! Thank you so much for stepping up and supporting the open-source explorer.
Decentralized blockchains need transparency, and BlockScout is providing this much needed service to xDai and beyond. Look for more collaboration with Gitcoin in the future as we look to create funding opportunities for xDai relevant projects and applications.
DarkForest
Dark Forest Round 4: Society Eggnog - Lightning Round Starts today! Look for updates as users and bots push the boundaries of space exploration on xDai.
The Dark Forest Universe has grown organically and quickly to include many top developers in the Ethereum space along with explorers, artifact hunters, and gamers. This crypto-native game is pushing the boundaries of what’s possible and evolving with each round as players and community devise new strategies, create plugins and experiment with a nascent DF-based space economy. Learn more about DF and where things are headed in this Into the Bytecode podcast by Sina Habibian interviewing @gubsheep of DarkForest. https://share.transistor.fm/s/d9f3d879
POKT network and @DisruptBanksy are also supporting DF this week with a sponsored endpoint and the Dark Forest Fund where players can claim 5 xDAI in exchange for using the Pocket-powered xDAI RPC endpoint to fuel their intergalactic travels. https://docs.pokt.network/home/resources/public-rpc-endpoints/dark-forest
Project Updates
Another interesting collaboration happening on xDai is RealT and LevinsSwap. Levinswap provides an exchange platform for RealT tokenized real estate. Users can freely trade, provide liquidity and even farm RealT tokens. Pools are currently available for 5 properties.
The Nifty Ink community is an organic community coming into its own on xDai. #niftytober community-run contest starts today! There are some amazing artworks happening on the platform - a few that caught our eye this week:
Eporio NFT marketplace on xDai latest feature now shows logos for known contracts so you can easily see if your NFTS are POAPs, Kudos, CryptoStamps, Nifty Inks or more. You can also create and sell NFTs on their full-featured marketplace.
The knockoffs are here! Just like you can get a fake Prada on the sidewalks of NYC and Venice (or anywhere fake goods are sold 😉), you can now create your favorite imitation NFT with the push of a button and bit of gas at https://www.knockoff.lol. This project explores the idea of what it means to own art and other ideas arising from the NFT craze, plus it lets you own a verified fake! Brought to you by the creators of https://www.useless-mev-machine.com , Knockoff NTF is another boundary-pushing experiment coming to fruition on xDai.
🙏 Thanks once again for your continued support of xDai and all the things that make this community unique. As we were finishing up this week’s newsletter we just received the latest Security Audit from ChainSecurity for the Stake Beacon Chain deposit contract! This brings the SBC another big step closer to launch 👩🏽🚀🚀 More updates coming soon.
See you on-chain,
The xDai Team