So besides the normal subreddits, issuing token rewards for community engagement, that you may have heard of such as r/cryptocurrencies, r/FortniteBR, & r/ethtrader, there is another worth noting and with a <1 million follower base. It's actually under 1000.
xDAI is a very active Layer-2 Ethereum Virtual Machine platform with nearly 100 dapps and active projects.
The most recent update was the biggest yet, six improvements, and are kicking off some pretty exciting features for a DAO, particularly one with the primary platform not being a Discourse, but rather the home of long-form crypto discussion: Reddit.
I. xDAI Card
II. RxDAI Liquidity Program Deck
III. 3xDAI branch launched
IV. xDAIDAO.com website updated
V. @xDAIDAO Twitter posting regularly
VI. xDAI DAO Bounty Board
DAOs are organizations that run on peer-to-peer software backbones and empower groups of people to make non-hierarchical decisions about shared resources, like funds. We are like-minded xDAI and EVM Layer-2 enthusiasts. Our focused, unified efforts can deliver sustained traction, materializing in profitability for DAO members. Here's what our DAO dev leads are doing, displayed in a single slide then further expanded upon this in the ensuing list.
xDAI DAO: Single Slide Synopsis
The xDAI Card. Ready to go for beta testing for r/xDAI community members. It takes RxDAI stablecoin deposits for a fiat balance. Spendable in physical or virtual settings. The FinTech regulatory easing, and competition from nimble credit unions looking for more deposits, has made the difficulty in getting this going far easier than it would have been in years past.
2) RxDAI Liquidity Program Deck is Finished. It's introductory and really is geared for a non-technical audience so I've left off much of the technical, but if you're on this subreddit you're likely here for the tech (I hope!).
As the deck shows, we're ultimately looking to use that RxDAI as a functional stablecoin to do things:
- Use with a fiat card
- Offer high LTV loans on a peer-to-peer basis.
- Employ low/no risk liquidity strategies to utilizing community capital to profit and benefit the community's coffers (cash-and-carry with perpetuals, overcollaterized lending to trading partners, spot/futures arb)
RxDAI Liquidity Program
Brief Deck Outline
What We Do & Why
xDAI DAO Core Focus & Mission
Desired Result & Pathway for Result Arrival
Meaningful Envisioned Milestones
Staying Savvy, Even After Scaling
Success Scaling Incremental Steps
As a community, there's a good deal of low-hanging fruit in terms of pooling influence, manpower, and resources. It's in our best interest to coordinate efforts to reap the rewards, hence, the DAO.
3) 3xDAI launched
For traders that are thirsting for something similar to a 3x token on xDAI, we've established a 3xDAI pair with the LETH "Leveraged ETH, from xDAI DAO" & RETH "ETH, from xDAI DAO".
3xDAI: Leveraged Tokens on xDAI
IV. The xDAIDAO.com site has seen some sizable improvements. Every major exchange or platform necessitates having a visually appealing homepage to show that a project is serious, beyond the tsunami of projects that just list their Discord or Telegram as their home base. It's a little more work, but well worth it in terms of fostering legitimacy.
V. Remember to follow our xDAIDAO Twitter. If Reddit is the home for long-form crypto discussion, Twitter is the definitive home for short-form.
VI. This effort, as you might expect, is pretty exhaustive for the mod team so we've carved out opportunities to earn RxDAI bounties:
- Github updates
- Strategic Outreach/Developer Evangelist
- Web 3.0 architect
- B2B/Tech Sales Outreach
- Community Organizing
PM the r/xDAI mod team if, you're interested. Strong English is preferred, but we have interpreters if you're a savvy coder with an established GitHub.
xDAI DAO Deposit Process
How can I, as an r/xDAI user, get involved?
Deposit into the DAO. TVL is a powerful measure of the influence of a DAO, and a committed community also commits crypto to nurture and sustain its growth.
Stay active on the subreddit for airdrops. The month ends this weekend so expect airdrops. I have several dozen wallet addresses, sent via modmail PMs, but if you haven't submitted yours yet, and you've been acting in posting or commenting, by all means do message them over to get your July RxDAI airdrop.
Encourage your friends to join r/xDAI and give xDAI, or its fascinating projects, a try. If Curve Finance is on xDAI, shouldn't your project be?
Sign-up for a RxDAI bounty, based on our expertise, to help the DAO grow. Horizontal organizations are the future, offering freedom for office-weary workers to best put their talents on full display without a middle manager second guessing your decisions daily.
Stake your RxDAI in Swapr or Honeyswap liquidity pools or give a 3x ETH token a try, if it befits your investment objectives.
We would love to have you visit the xDAI subreddit to discuss the ecosystem with some savvy devs and blockchain enthusiasts and share your insights in blockchain tech. Here for the tech, not the price!