BABELFISH STORY SCHOOL / DOLPHIN'S LOG
Token Generation Event & FISH Airdrop
After several BabelFish community calls on Mondays, “Story School" meetings on Tuesdays, and "Dolphin calls" on Sundays, the DAO's cycle is becoming a rhythm in my life. I imagine the same has occurred for the emerging group of pseudonymous DeFi hitchhikers which constitute the BabelFish DAO who have labored with the promise of a protocol token reward.
The collective aggregate number of hours contributed to this DAO, even before minting our FISH governance token this past week, has been immeasurable. Our gratitude to all who have been a part of our earliest inception and a warm welcome to the new BabelFish community members and $FISH token holders!
BabelFish Organization & International DAO Contributor Community
BabelFish is organized into 6 BabelFish "schools" (Adoption, Community, Development, Ecosystem, Story and Strategy). Each school has a "dolphin" working full-time to coordinate the activities of the BabelFish contributors within the school. FlameTale, as the "dolphin" of the "community school", has organized a team of translators to cover 14 languages and a translation bot integration promises to accelerate international user adoption.
I am honored to contribute as the "dolphin" for the "story school", where we integrate community activities, announcements, & marketing communications with art & narrative. I'll tell you all about the team we've been assembling in future posts. We have blockchain creatives across time-zones working in every medium (including a few with Virtual Reality skillz). The DAO is forged. The fire is hot. More info on our organizational structure (and lots more) available on our Notion.
Gratitude To $SOV Community, BabelFish Governance, & Forum
There have been challenges and opportunities for growth along the way. We've had a huge advantage by partnering with Sovryn's Origins launchpad and are thrilled to launch our DAO on RSK/Rootstock Network (Bitcoin Layer-2 network). As a gesture of gratitude and an invitation to contribute to BabelFish DAO, we've airdropped 1.42% of $FISH total supply to $SOV governance stakers.
We anticipate the first BabelFish Improvement Proposal this month and invite you to participate in the governance votes and forum conversations. Additionally, NFT rewards with future in-game functionality (BabelVerse) within the BabelFish community's Unity environment are presently being developed.
$FISH Market Capitalization & Token Price. $FISH: A Governance Token For HODLers (& Hyper-HODLers)
The tokens are still rattling in their respective RSK wallets. A few impatient folks have liquidated their positions, while others surely grinned as the price surged from $0.11 (pre-sale price) to north of $0.36! We remind our community that FISH is a governance token, not a moon rocket! We continue to discourage speculative FISH trading and impose vesting schedules on protocol team compensation to mitigate sell pressure.
I only mention price to convey the demand for what we're building and the scale of the vision our devs are pioneering.12.5% of the total $FISH supply was available for pre-sale and a total of $5.8mn was successfully raised. With circulating supply presently ~52 Million $FISH, our governance token's market capitalization is in the range of ~$15 Million USD at present price of ~$0.30.
What is BabelFish Building... ??? A DAO? A Stablecoin Aggregator? A Universal Cross-Chain STABLECOIN with Bitcoin insurance pool? A Gamified Virtual World For Our DAO Community? YES.
For the past three months XUSD has been live for trading, lending, & borrowing on Sovryn. XUSD has quickly become the largest stablecoin protocol in RSK with nearly $13mn in circulation. BabelFish aims to become one stablecoin to connect them all: out of many stablecoins, XUSD. BabelFish mints and burns XUSD at a 1:1 ratio with other accepted stablecoin collateral.
BabelFish DAO also intends to initiate FISH liquidity mining rewards for depositing stablecoin collateral and commence the gradual accumulation of an rBTC insurance pool generated by lending stablecoins. Now that we have a governance token, we can begin voting to direct the path forward!
The 13th Community Call: A Celebration of $FISH TGE!!!
This week's BabelFish community call in our Discord Server was particularly well-attended with over 100 people on the call simultaneously for a good portion of the hour. The way people come and go, it would be nice to know more precisely how many people are there. And we don't want people showing up just to claim a reward and bounce. So, we're taking a snapshot of everyone on the call at a random time during our community call.
In the future, we intend to issue a POAP to connect present participation with future rewards. So please join our community calls, stay for the duration, and participate! We *MIGHT* even reward participation with a special reward to speakers who join the conversation! With each person who joins our Discord, BabelFish grows closer to vanquishing the dragon, Fiaticon & his sidekick, Banktopus. Just ask around in the Art & Illustration channel to be given access to the closed "story school" channels.
Thank you for reading!
Executive Summary of Post Pre-Sale Call:
(prepared by Madvill)
- Statistics looks healthy, community wise - 2100 TG members / 3100 in discord
- Almost 13mil in xusd
- We are already the largest stablecoin on RSK.
- $FISH sold out in under 30 mins, price is already sending positive vibes.
- BabelFish's unique value proposition is being insured by BTC.
- The first Bounty is coming next week (wednesday), next Bounties will be under vesting schedule.
- The airdrop is on wednesday as well
- Liquidity mining rewards will be in around 2 months
- Even though governance will be rolling out soon through forum, we can say we are already a DAO.
- We need to improve communications within the community and schools, we want to keep shared objectives through proper communication.
- We want a permissionless system as specified from the beginning.
- Amazing work by the community coming from contests and analytics like stablecoin research.
- We will share information on how to filter all the knowledge so we can keep everyone in line with the progress.
- Research and WiP for PoP (Proof-of-Participation)