Weekly Governance Newsletter - September 16, 2022

Weekly Governance Newsletter #57

PASSED PROPOSALS

Sponsor a booth at ETH Denver 2023

Total Proposed Budget: $15,000

  • The following proposal is to get the ShapeShift DAO to sponsor a booth at ETH Denver 2023.
  • ShapeShift DAO had sponsored and run a fundraiser in 2022, and before that Centralized ShapeShift has been attending and sponsoring ETHDenver for the last 5 years, as this event was in centralized ShapeShift’s own backyard. Now that we are a DAO and decentralized, the DAO should consider many events, but what better way to start this DAO sponsorship theme than through our roots at ETHDenver.
  • If it were to pay for it now and get the early bird special, the DAO could get the basic Block sponsorship level with the early bird booth upgrade level for $15,000 USDC.
  • A follow up proposal will be submitted for other expenses related to the event, but for right now, this is to just secure the booth and get the early bird specials.

ACTIVE PROPOSALS

Outsource the DAO’s Responsible Disclosure Program to HackenProof

Total Proposed Budget: $75,000

  • In the absence of a Security Workstream the DAO’s Responsible Disclosure Program (RDP) created in SCP-46 needs a sustainable path forward to ensure we incentivize security researchers to disclose vulnerabilities that may adversely affect the DAO, token holders, or our community.
  • HackenProof provides an affordable, easy to administer, crypto native platform that can fulfill our current needs for a monthly fee of $1,200 USD + 10% of bounty payouts.
  • Shapeshift has a long history of taking security seriously. @MrNerdHair established the DAO’s RDP in SCP-46 that is currently without a clear owner or budget after the expiration of the Security Workstream.
  • In order to continue this program it requires an owner responsible for its administration within the DAO, a budget, and resourcing to ensure its success.

IDEATION PROPOSALS

Create a new FOX-XDAI Regen Farm to incentivize liquidity on Gnosis Chain

Total Proposed Budget: $750,000 in FOX tokens for 6 months

  • The FOX-HNY Regen Farm liquidity mining program will finish on October, 2nd. The FOX Regen Farm gives token holders the opportunity to earn rewards for providing liquidity in FOX and Honey and supporting the FOX economy on the Gnosis Chain.
  • Increase the liquidity of the FOX token on Gnosis Chain to keep up with the overall growth of the FOX economy on this chain.
  • Continue rewarding both liquidity providing and holding of the FOX token.
  • Currently, there is $286,624 USD in FOX liquidity on HoneySwap, incentivized by the FOX Regen Farm on Gnosis Chain. FOX liquidity and number of holders has grown steadily, reaching a circulating supply of 7,930,246.57 xFOX on 08/24/22 and 1115 token holders.

Pre-authorize $500,000 FOX purchase or creation of LP tokens

Total Proposed Budget: $500,000

  • Please note: The following ideation proposal is a significant modification of this proposal that was previously posted in draft form Draft Proposal: Purchase LaaS FOX for $500,000.
  • This proposal authorizes the ShapeShift DAO to spend up $500,000 worth of stablecoins from its treasury in order to purchase a corresponding amount of FOX on the open market. This is a one-time authorization.
  • The TMDC will determine whether or not to make these purchases, based on specific triggers discussed below.
  • The primary reason for this proposal is to defend the liquidity of FOX on Uniswap V2. Currently there is just under 2150 ETH in the FOX/ETH pool.
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