r/xDAI DAO: Community Update #13

By Rekt | xDAI | 2 Oct 2021


September r/xDAI Airdrops Go Out Tomorrow!

As a DAO, we're always looking at ways to:

  • Promote xDAI as an exceptional EVM sidechain

  • Grow our community with quality devs and blockchain enthusiasts

  • Prudently experiment with Governance and DeFi innovations that would position our organization as a first-mover with innovative use cases and position ourselves as collective thought leaders

As it stands, for DAO-specific revenue, we lend out RxDAI to dApps that want to develop and not have to sell their xDAI-blockchained tokens, to remain fully vested in the exciting ecosystem that is xDAI, but we're also going to embrace another community-minded push: free trading on-boarding.

We have people who have expressed an interest in crypto trading, either for fun, education, or as part of their investment asset allocation strategy. At almost 1000 strong, we also have community members well-versed in this space, many who have traded professionally previously or do so to the present day. These trading veterans, as RxDAI holders, have volunteered their time to provide on-boarding tips, answer introductory questions, and provide a hand-holding experience that exists no where else without cost, if one simply joins FTX with the xDAI DAO's affiliate link. All affiliate funds will be distributed to HODLers of RxDAI in the Swapr monthly liquidity pools.

October's staking Pool is up with 25,000 RxDAI actively airdropping.

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RxDAI Swapr Oct & Sept pool. Switch over monthly.

One of our investment partners, who signed-up via our link, has segmented a treasury of 3x tokens held by this DAO including ETCBEAR, BNBBEAR, and many low-cost tokens that are largely trading at exactly their net asset value or better.

These are largely purchased inexpensively, for fractions of a penny, but the power of 3x compounding, especially if a token dumps, is powerful. A crypto that increases 5% for 30 days will 4x, a 3x token for this same underlying asset will 66x. Why is this important to a risk-averse DAO? These positions can be hedged against on the spot market for 0.88% APR, virtually nothing. The ultimate payoff for this is when an asset moves quite a bit. If a $0.00001 ETCBear goes to $0.01, even if it's hedged on the opposite site, it's earning fees every step of the way as these tokens have large bid/ask spreads. Savvy 3x traders will buy them when they are below NAV and sell them when above. From an affiliate perspective, that $1 investment, which is 100% hedged earned:

  • Open maker and taker position fees for 3x and spot positions

  • Close maker and taker position fees for 3x and spot positions

Pretty soon, as the hedged position goes all over the place, that $1 in investment will have amassed $3, $30, $300+ in fees, of which $1 has been reverted back to the xDAI DAO from that principal investment.

This is the type of recurring model that:

  • Can ignite the DAO to grow with a sustainable profitability and use this to excite a thirst for airdropped RxDAI

  • Allows capital put in to be used efficiently to harvest trading fees that come as a result of crypto's characteristic volatility

  • Sustains most all crypto influencers and crypto education projects handsomely.

The ultimate, albeit ambitious, goal of this DAO is to enjoy the same price-to-earns tokenization enjoyed by Aave, MakerDAO, and others, which can often surpass 200. That means that $100 in daily revenue, from RxDAI borrow fees, FTX affiliate income, and key dApp partnerships, would yield a DAO worth $3.6MM. In a crypto world where you need to unicorn with a billion dollar valuation to even get firmly into the top 100 crypto projects by market cap, this may sound modest, but growing the right way--incrementally and not hastily--is the way that xDAI, 1Hive, and the ecosystem as a whole have successfully done it: ready-aim-fire rather than fire-aim-ready.

How can I get involved?

  • Monthly Airdrops (thoughtfully comment and post)

  • If you do have an interest in trading crypto, using vanilla or advanced strategies, message the mods to get connected with someone who knows this ecosystem inside and out to handhold you and prevent you from making mistakes that are common getting going, like putting in a market order when you really wanted a limit. Look for a dedicated Discord later this month.

  • If you're an experienced trader, you can just use the FTX affiliate link.

  • Buy RxDAI on Hedgey and Stake it on Swapr.

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Rekt
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