Grab your beverage of choice and saddle in, this is a big one.
NOTE: We’re a bit overdue from the last Bi-Weekly. The team has transitioned to an agile workflow following standard two-week sprints. The Bi-Weekly will now reflect the summary of the previous sprint (today being the last day of the current sprint).
Partnerships and BizDev
Governor DAO recently partnered with Finnovant to synergize biometric authentication with blockchain applications. Our pilot project, a Proof-of-Existence registry, is in active development and the team is targeting a POC release in the next two weeks.
See the team’s interview with Finnovant to get more details on the powerful partnership, and stay tuned for more details on the business model and technical roadmap of our cooperation.
The team has entered discussion and signed NDAs with four additional projects around the crypto space, including two mid-cap token projects in the high-eight to low-nine figure market cap range.
Liquid Propane, an innovative microcap on Binance Smart Chain, launches this weekend. Liquid Pane employed Governor as a consultant to port our innovative LGE contracts. A portion of token sales and allocation of token supply is reserved to Governor through the consultancy. This represents a real world “MVP” of our ability to port Governor tech to third-party projects, and reflects a precursor to our upcoming Governance-as-a-Service package.
As our broader business development branch formalizes, all community members will be invited to connect Governor with third-party projects and earn 25% commission on every deal. Formal details to come.
In perhaps a first-of-its-kind, the community has engaged in open negotiations to facilitate the amicable departure of a former team member. This is an outstanding win for Governor and DAOs in general. The vote to finalize this exit is ongoing and ends tomorrow, 10am Pacific.
There is an additional, ongoing vote to utilize OCEAN tokens to stake behind our upcoming dataset publication plus 8,000 USDC to the GovBox for freelance work and misc. expenses.
Lastly, the vote to approve our formal partnership with Finnovant will begin on Monday. Details of the partnership agreement will be made available in advance of the vote.
Gnosis recently launched “SafeSnap”, which enables the execution of Snapshot votes to Gnosis multisig wallets. The team is actively exploring the transition of admin controls to GDAO holders through the use of these tools.
The team seeks to work with the community in establishing a “community ethics” board/role. The purpose of this position is to have a community liaison that has a better understanding of team negotiations/contracts/NDAs and can convey to the rest of the community that no “fishy behavior” or otherwise murky tactics are in play. Due to the nature of certain partnerships, some level of “hush hush” is required, and this role can help to maintain trust without threatening the nature of the deal.
Governor DAO was initially registered in Wyoming in anticipation of their “DAO Bill”, which formalizes the ability for decentralized autonomous organizations to register and operate as a DAO.
The team has been in contact with top legislators promoting crypto in order to be as prepared as possible for when that DAO bill comes into law on July 1st.
Additionally, the team is in contact with relevant parties in expanding our upcoming Proof-of-Existence registry to real world applications and voting.
GDAO Finances (Treasury, Airdrop, LOYAL)
The mines, which conclude in May, continue to attract new depositors. There is now >$6 million deposited to the mines, and total revenue of roughly $250,000 to the treasury as a result.
Barring any large movements in the final hours of the airdrop, there is >300,000 GDAO in unclaimed airdrops. 25% (75,000 GDAO) of this will be distributed between stakers to the LOYAL mines that meet the deposit threshold. Another 25% (75,000 GDAO) will be swapped to LOYAL balances. The exact ratio is not known until the NFT swap period is complete (as that will determine the final supply of LOYAL). The rest of those tokens are to be returned to the treasury.
Everyone who waited the full 90 days to claim their airdrop will split roughly 81,000 GDAO from the rewards pool. This should work out to about a 15% top-up above their GDAO airdrop claim.
The LOYAL-NFT swap will be live by end of next week at the very latest.
The team will spend upcoming sprints working alongside Finnovant to integrate Say-Tec into the “Proof-of-Existence” portal on a dedicated website application. This additionally includes web3 integration and polling of addresses when users interact.
Additionally, the team is developing a “beta” token contract for POE with a fully fleshed POE token standard to launch after the POC.
An on-chain registration/referral system will also be employed when the main Proof-of-Existence product launches, which prices registration on a bonding curve and allows already-authenticated users to earn that commission on all referral signups.
Coming website updates include the deployment of our long awaited team page as well as more support to articles and
Cross-chain support is being explored for misc. Governor products and contracts.
The team has been heads down for the past weeks laying out the foundation for many exciting, innovative products and developments to come. Anticipate MUCH more information on each of these workstreams via article, video, and more to come.