23 posts tagged with "update"

Author: matterturbulent
Date: (2022-12-04)

Synopsis​

E Pluribus Unum — Out of Many, One

15 Web3 groups (and counting) have come together to fundraise and bid on a private copy of the US Constitution going up for auction at Sotheby’s on December 13. This movement—called UnumDAO is the spiritual sequel to ConstitutionDAO, with many of the orgs being born from or inspired by the movement last year. We are utilizing the private multisig application Nucleo to obfuscate a portion of the donations to make our bid more competitive, and we plan to raise the remaining funds publicly on Juicebox. We’re prepared to show the world how far crypto has come in one year and to give our community and industry a positive signal. The goal is to start with the Constitution, and then continue acquiring important civic artifacts in order to create a “People’s Museum,” totally controlled by governance NFT holders, rotating to new locations, and educating the public about the history and innovations of democracy.

We are proud to partner with Juicebox given its status as the go-to decentralized platform for projects to raise funds in Web3. We are requesting a $150,000 USD grant from Juicebox at the initiation of the fundraise to seed it. Additionally, we want to use the holdFees flag⁽¹⁾ to enable us to refund donors in full should we lose the auction.

If bid fails then all funds become refundable, including the grant. All donors have the opportunity to reclaim funds within a 30 day window. After the 30 day window then remaining the funds get sent to the UnumDAO multisig for acquisition, curation, and care of other civic artifacts.

Motivation​

This proposal will cement the partnership between JuiceboxDAO and “ConstitutionDAO2,” while simultaneously kickstarting the fundraiser. We recognize that Juicebox plays an essential role in the ecosystem, championing the value of decentralization. Juicebox is an essential tooling in Web3 and unlocks the ability for regenerative projects to establish their governance communities. This proposal represents a middle ground between shutting off fees and leaving them as is.

Specification​

1. JuiceboxDAO to distribute $150k worth of ETH to the UnumDAO project fundraiser from the v1 JuiceboxDAO treasury in FC#37.
2. Utilization of the holdFees flag to enable full refund should UnumDAO lose the auction.
3. Vocal support from Juicebox as a partner in the movement.

Rationale​

Sotheby’s valued the Constitution copy at $20 - $30 million USD. If Juicebox fees are 2.5% and gives the project fundraiser a $150,000 grant then the fundraiser has to raise at least $6 million for Juicebox fees to exceed the initial $150,000 put in.

Risks​

If the fundraiser undershoots $6 million but still wins the Constitution in the auction then JuiceboxDAO will not receive more fees than the initial amount of the grant.

Timeline​

Within the next couple of days the fundraiser will go live and JuiceboxDAO should make the 150k donation upon initiation of the fundraiser. Should UnumDAO lose the auction we expect to do the refund based on the reasonable timeline for such activity. All donors have the opportunity to reclaim their funds within the 30 day window. Throughout the auction leading up to Dec 13 the coalition will advocate for Web3 to once again come together and buy a Constitution. Except this time we will win.

Hold fees:

By default, JBX membership fees are paid automatically when funds are distributed out of the ecosystem from a project's treasury. During funding cycles configured to hold fees, this fee amount is set aside instead of being immediately processed. Projects can get their held fees returned by adding the same amount of withdrawn funds back to their treasury. Otherwise, JuiceboxDAO or the project can process these held fees at any point to get JBX at the current rate.

This allows a project to withdraw funds and later add them back into their Juicebox treasury without incurring fees.

This applies to both distributions from the distribution limit and from the overflow allowance.

Defifa is an experimental pop-up NFT game that accompanies the 2022 FIFA World Cup. Minting started Nov 8th and will close before the first kickoff of the competition on November 21st. The game definitively ends on December 25th—7 days after the final whistle of the competition—at which point all treasury funds will be made available to those that wish to redeem their NFTs.

There are 3 novel ideas worth calling attention to that make Defifa possible:

NFT Distribution​

Over the past five months, engineering contributors at Juicebox DAO have been developing an NFT distribution mechanism that project owners can configure and attach to any of their funding cycles. With this NFT extension attached, inbound payments have the opportunity to mint a token from an ERC-721 contract if certain conditions are met. This 721 can contain any number of payment tiers, which can define their own visual and descriptive metadata, minimum contribution thresholds, max supply, a ratio of tokens to reserve for a pre-programmed beneficiary, voting weights, and other properties to ensure confidence for both the project owner and community.

Defifa uses this system to define 32 tiers corresponding to the 32 teams competing at the World Cup. All tiers are contained within the same NFT collection. Each tier has no max supply and requires a contribution of 0.022 ETH into the Defifa treasury. All contributions to this treasury qualify and must specify the desired teams from which to mint. Clients can specify if the payment’s value must be used in full towards mints — if the payment is not quantified in 0.022 ETH increments, it will revert.

Project ownership​

Project owners have the exclusive ability to configure a project’s future funding cycles. Most Juicebox projects created thus far have been owned by a person or a multisig. The Defifa project is instead owned by a contract that automates the queuing of four hard-coded funding cycles which define the game’s four phases. Funding cycles are sequential and each is bound by timestamps defined at the game’s instantiation.

The first funding cycle is the mint phase:

• Payments into the treasury are accepted and team NFTs are minted as described above.
• Redemptions are honored for a full refund of the mint price.
• Reserved tokens cannot be minted during this phase.

The second funding cycle starts at the exact time of the FIFA World Cup’s first kickoff:

• Payments are paused to prevent any future mints.
• Redemptions are paused to prevent access to the treasury’s funds.
• Reserved tokens can now be minted for each tier such that 1 of every 10 tokens belong to the Defifa Ballkids who developed the game and encourage fluid gameplay.

The third funding cycle starts at the kickoff time of the tournament’s quarterfinals:

• Transfers for all NFTs from all teams are locked and become temporarily soulbound.
• All other rules are the same from funding cycle #2.

The fourth funding cycle starts seven days after the final match is played:

• Transfers for all NFTs are unlocked.
• Payments remain paused to guarantee no new mints.
• Redemptions are reopened so that NFTs can be burned to reclaim an underlying share of the treasury. More on this in the Scorecards section below.
• This phase lasts forever.

Each phase must be queued before the current phase ends. This transaction can be sent by any player.

Artwork by gabobena.eth

Scorecards​

The game is entirely self-refereed, meaning that it does not rely on on-chain oracles to convey real world outcomes. Instead, NFT holders are solely responsible for attesting to the correct scorecard that represents what happened in real life. A “correct” scorecard is determined only by social consensus.

This version of the game justifies correctness as follows:

• There are 100,000 total points to be distributed. 20,000 points are available to each of five rounds of the FIFA tournament, divided evenly between the winner of each game in the round.

• There are 48 group stage games total, 8 round-of-16 games, 4 quarterfinal, 2 semifinal, and 1 final. This means that each group stage game is worth 416 points, each round of 16 game worth 2,500, each quarter final worth 5,000, each semi final worth 10,000, leaving the final with the remaining 20,032. The correct scorecard should represent the amount of accumulated points by each team divided by the total available 100,000 points.

• Each team has 1 vote, divided evenly between all of its NFT holders. Scorecards can be submitted by anyone at any time and voting opens during the World Cup final. During phase 4, a scorecard can be ratified once 50% of all teams have agreed on the correct treasury distribution. Once ratified, each NFT has access to the treasury along the same distribution as the scorecard. Each individual NFT can be redeemed to reclaim a proportional share of the team’s value. This is the only way to access the game’s treasury.

• Funding cycle 4 lasts forever, meaning an NFT can be redeemed (burned) at any time for its underlying ETH. It can also be collected and traded forever.

Defifa is an experiment and will work as long as it has been configured correctly, however players should participate at their own risk. The code is open source and players are encouraged to fork the framework to run similar experiments for subsequent tournament-style competitions. Boa sorte!

Artwork by Sage Kellyn

Defifa.net upends how we think about NFT trading​

The Juicebox protocol has its eyes set on the FIFA World Cup this year. A new project called Defifa is set to launch on November 5th, and will allow players to purchase NFT flags of any of the 32 World Cup teams set to play this year.

(example of the Argentina flag NFT)

Where it gets it exciting is when the World Cup starts. From the first kick-off, all NFTs become non redeemable. The treasury that has amassed all the ETH for the NFTs will become locked, as well. As each phase of the World Cup takes place, the NFTs claim on the treasury will change proportional to their finalist ranking. Midway through the World Cup, the NFTs will also become non-transferable, meaning holders will be locked into waiting for the outcome of the games. At the end of the competition, all participants must ratify a scorecard to attest to the accurate results of the World Cup, at which point the NFTs will be come unlocked and can make their claim on the treasury. So if you purchased an NFT of a team that ended up winning, redeeming that NFT at the end of the World Cup could give you back more than you paid for it. For a short video breakdown, check out this explainer on twitter.

A protocol more flexible than an olympic gymnast​

The entire defifa.net is run on the very same protocol that ran ConstitutionDAO last year, and that is currently home to a variety of projects including, including MoonDAO and JuiceboxDAO. But for Defifa, there were some important tweaks.

The protocol has no idea who will win or lose in the world cup, and who will get knocked out. While one obvious solution is to appeal to an off-chain oracle, a much more interesting one was to have the NFT holders participate themselves. When a new game has happened, anybody can submit a scorecard which NFT holders must then vote on to ratify. Doing this allows the protocol to run more purely, but it also introduces some interesting dynamics.

A game of chance or cooperation?​

Anybody working on defifa will tell you that this is a grand experiment, the outcome of which can’t be predicted. In theory, the game should run smoothly— NFTs are minted, held, participants vote and at the end the NFTs can be redeemed against the treasury with their new (adjusted by the game’s outcomes) value. But what if that doesn’t happen?

What if some people refuse to vote, or vote in bad faith? Or what if so many people purchase the NFT of a favored team, that the claim on the treasury between all those holders is actually quite small? Statistically speaking, what is the expected value of purchasing a highly favored versus a long-shot team, and when does it make sense to trade your NFT and when doesn’t it? The beauty is that nobody knows, and those that play will all find out in real-time.

Where to learn more?​

Head over to defifa.net to learn some of the details of each game phase and to see the NFTs offered. To hear a short podcast episode with the defifa.net creator, jango, head on over to spotify. And if you’d just like to hang out and say hi, come to the Juicebox discord and feel free to ask any questions there.

On Tuesday, May 3rd (Wednesday May 4th local Chinese time), some Juicebox members (including jango, Zeugh, peri, filipv and your favorite author, to name just a few) engaged in an open discord call with Chinese-speaking JB community members and contributors. This article recaps some of the main points discussed. Also a huge shout-out to Zhape for his excellent on-the-fly translations!

Translation needs​

The translation efforts are coming back underway as JB has overhauled its documents over the past few weeks. One area of concern was in how to best achieve accurate translations that can be written engagingly. The need for accurate translators, particularly who are comfortable working from English to Chinese, was underscored by Zhape. If you are comfortable translating into Chinese fluently and would like to contribute to translation efforts, reach out to Zotico in the #translation channel.

Guerilla Marketing Campaign and Community Building​

Zeugh gave a brief highlight of some intended efforts at marketing and community building. Currently, there have been discussions to send some Juicebox contributors to Crypto or NFT conferences where they can network and spread the word about Juicebox. Possible eventual speaking opportunities at conferences, or sponsorships of conferences, are also being discussed, but at the moment the goal is to start small and see if we can spread the word about Juicebox and make meaningful connections between communities, or create opportunities for people to open projects on the Juicebox platform.

Translating outreach/community content​

One area discussed was the importance of trying to make it a priority to translate into Chinese blog posts, interviews, or other materials that will help bridge the gap between our Chinese-speaking and English-speaking communities. For instance, an article such as this one that simply updates the community at large on a recent discord call, or an article that announces major changes coming with V2, would be excellent opportunities to inform our Chinese-speaking readers and to open the opportunity to gain feedback from them.

The state of V2​

jango gave some insights on how the V2 protocol is coming along. Front-end of the protocol is still under development and coming along nicely, and in the mean time fine-tuning measures in the back-end continue to ensure a smooth rollout. The V2 protocol will allow many creative opportunities to build extensions, and offer more tools to project creation. So far early reception has been very good.

Tokenomics strategies​

The question of how tokens should be disbursed, traded and valued also came up. The goal of ensuring that a project received the best rate of JBX per ETH is being discussed and worked on. Practically, this would mean that if a better JBX rate existed from an AMM, a project creator would receive that rate JBX at the AMM exchange rate. While JBX currently has low liquidity, one line of thinking is that such a system, which would necessarily drive traffic to such AMM’s, would serve as a mechanism to build those liquidity pools. Importantly, the impetus for such a process starting will likely come as Juicebox incentivizes these opportunities.

Voting equity​

Another core topic of discussion was around voting equity in the current DAO governance. The question centered around how to strike a balance between early contributing members, such as jango, who have very large sums of JBX and thus have tremendous voting power, and members who may be contributing heavily but are newer, and thus have far lower voting power. This is a catch-22, but it is important to note that this imbalance is certainly aware to early contributors such as peri, jango and others. In the case of per and jango, they do not engage in voting for this reason (both were quick to point out). One solution is to continue issuing JBX, which will give more voting power to more individuals, but this also flies squarely against certain opinions to completely stop JBX issuance. It is a complex situation that has a lot of moving parts, and is inextricably linked to the JBX issuance/AMM situation mentioned above. Ultimately the thinking is that with these new changes, solutions may present themselves and we will see growth and directions in these domains.

Main Takeaways​

This call provided important information and helped streamline communication between the English-speaking and Chinese-speaking Juicebox member communities. The nature of questions remained substantive throughout and finding a cadence to have such calls seems like a good strategy moving forward. A huge thank-you to our members, both English- and Chinese-speakers, for taking the time to hop on this call and for having such open and transparent discussions. And again a huge thank-you to Zhape, who translated and managed the discussion and kept a good flow going!

If you held JBX before 2022-02-23 and have not done so already, claim your JBX!

We've seen some super interesting results from the Juicebox Benefits Airdrop which launched last month. ARCx has worked with us to collate and summarise some preliminary findings from the airdrop. Results below!

Definitions​

To fully comprehend the findings, it helps to quickly define the terminology used in our analysis.

Most of these findings centralise around a concept called the "Retention Rate". The retention rate is defined as the lowest JBX balance for an address after the airdrop. To better understand this, let's use an example:

0x123 claims 100 JBX tokens from the airdrop. They then go on to sell 30 of their tokens immediately after claiming. This address then waits a week, and buys back the originally sold 30 tokens. In this scenario 0x123 would have a retention rate of 70%, even after buying back the tokens, as it is the greatest amount of tokens sold after the claim.

This logic ensures that per address the retention rate can only go down over time.

The second concept to understand is the "Average Retention Rate". Many of these graphs aggregate the retention rates across all claimers in the airdrop. The average retention rate is defined as the average of all the retention rates for all addresses whom have claimed already. So, again using an example, if 10 addresses claimed the airdrop each day, then the average retention rate on day 1 would only consider the first 10 address and not any of the addresses who claimed on day 2, day 3, etc.

Findings​

The first graph shows retention rates 28 days after several major airdrops. The Juicebox Benefits Airdrop had unprecedented levels of hodling!

The next graph also shows retention rates, but instead shows them over time. After a brief selloff, retention was remarkably stable.

Next, we consider this same retention rate over time broken down across the 3 different score chorts (see JBP-114). Interestingly, the cohort with scores between 53-200 had the second highest retention rate, beating out the 201-300 cohort by ~15% at times.

Finally, we looked at how quickly each cohort claimed their JBX. Interestingly, the 53-200 tier fared better than the 201-300 tier in this metric as well.

Thank you to everybody who helped make this airdrop happen. More information and analysis will be coming soon!

Juicebox v2​

Jango's proposal to Deploy v2 passed by overwhelming majority. You can learn more about v2 on the docs.

Currently, v2 is scheduled to deploy on April 16th.

Frontend efforts are already well underway: as of 2022-04-07, the V2 feature parity milestone is 64% complete. Feature parity is Phase 1 of PeelDAO's roadmap for v2.

veBanny Frontend​

VeBanny has pushed into a new stage. We have completed all the Layers, Backgrounds and token spreads. The Ui for the VeBanny voting token minting site has been fully drafted. All contracts are written and nearly finalized. Next steps are to tighten up some front end pieces and start the build out.
―Mieos

For realtime progress updates, take a look at the Figma.

Juicebox High​

Juicebox High is live (and you are on it right now)! Join the Discord and send a message in #documentation if you're interested in contributing or have ideas for improvements.

You can use the new blog with your RSS reader by adding https://docs.juicebox.money/blog/rss.xml or https://docs.juicebox.money/blog/atom.xml.

Metaverse Festivities​

Lexicon Devils has some amazing plans for April! Here's the schedule:

Head to the Juicebox Lounge to join!

Juicebox in the words of​

Felixander has launched a new interview series called "Juicebox in the words of".

In his words: “Juicebox in the words of” is a series that highlights JB community members in interview form. Learn about members’ roles at JB and what makes them tick.

Interviews with zom, filipv, jango, and peri have already been published. You can find the latest interviews (and more) on the blog.

Vote!​

FC#20 temperature checks are live now. Head to the Discord and vote! Snapshot voting opens at 00:00 UTC on 2022-04-12.

You can claim your JBX here! For more information, read on.​

Background​

Juicebox's legitimacy as a DAO is built upon sufficient decentralization of power, access, and ownership. To accomplish this ideal, Juicebox must attract and retain an active community that has Juicebox's long-term interests in mind.

One of the most direct methods for improving decentralization is the airdrop. Several airdrop proposals were made to this effect in FC#15, all of which were rejected.

• JBP-103 - Distribute JBX to JBX Holders

• JBP-102 - Distribute JBX to Juicebox Projects

• JBP-101 - Distribute JBX to v1.1 Party Attendees

• JBP-100 - Distribute JBX to Nicholas’ List

• JBP-99 - Distribute JBX to Extended Community

As part of a new airdrop proposal, ARCx has crafted a Juicebox Benefits Score which identifies Juicebox community members based on their token holding behaviour and governance participation.

See JBP-114: Juicebox Benefits Airdrop

Score Methodology​

The Juicebox Benefits Program identifies and rewards active community members who hold Juicebox DAO’s long-term interests at heart. The score rewards active contributors by measuring governance participation, and rewards long-term support by measuring how long a wallet has held JBX.

Governance Factor (60%)​

The Governance Factor measures the number of Juicebox Snapshot proposals that a wallet has voted in. The wallet with the highest Governance score is given 600 points, and the wallet with the lowest score is given zero. All other wallets are linearly scored within those bounds—for example, a wallet that voted in half as many snapshot proposals would be given 300 points.

HODL Factor (40%)​

The HODL Factor measures the number of UTC dates that a wallet has held at least 1 JBX (either claimed or unclaimed). The wallet with the highest HODL score is given 400 points, and the wallet with the lowest score is given zero. All other wallets are linearly scored within those bounds—for example, a wallet that held JBX for half as many dates would be given 200 points.

How to Claim​

Visit airdrop.juicebox.money and connect your wallet to see if you are eligible. You can also claim a free passport to view this score (and other scores) on arcx.money.

On 2022-06-07 at 22:00 UTC, any unclaimed JBX which remains in the smart contract will be returned to the multisig for future use.

Your score on arcx.money might not be the same as your score on airdrop.juicebox.money. To prevent sybil attacks, the airdrop scores were measured at Ethereum block 14,263,369.

What's Next?​

Going forward, the community could use the Juicebox Benefits score to make new airdrops, to set up a gated Merch Squad collection, to make gated Discord roles, or even to create exclusive Juicebox-themed ARCx passport skins. These scores are verifiable onchain, meaning they can be permissionlessly used in smart contracts or used through an API.

Some other examples mentioned by ARCx include:

• Distributing airdrops equitably
• Boosting smart contract staking yields
• Verifying social status via Discord roles
• Offering free smart contract insurance to the best users
• Fee & product discounts
• Many more

This score evolves with your behaviour over time! Although the methodology could evolve, Juicebox Benefits projects aim to reward active contributors which support Juicebox's long-term goals. Your participation and support of Juicebox will be reflected in these scores over time.

If you have ideas or suggestions, share them in the ARCx Discord or in #jbx-benefits on the Juicebox Discord.

Verify​

Airdrop contract: 0x518e3CdBcda4f0735399c9F1e03A7aBC7562632f
Merkle root: 0xba0ccda021dd3008d51728ccd530dfe42d6bba07f8118d8a796e26d80e305009
Sweeper: 0xAF28bcB48C40dBC86f52D459A6562F658fc94B1e

Main Repository

Airdrop CSV

Merkle Root(use yarn && yarn generate-list to verify).

Airdrop contract on Etherscan

arcx.money｜ARCx Twitter｜ARCx Discord｜juicebox.money｜Juicebox Twitter｜Juicebox Discord

JuiceboxDAO is running final tests on an updated/forked version of its Terminal contract. Once deployed and approved by JuiceboxDAO, projects will be able to voluntarily migrate their funds and accounting parameters from the V1 terminal that is currently being used to this new V1.1 Terminal with just one transaction.

There are many broader changes being developed in a V2 release scheduled for the coming months. V1.1 is a simpler change that still manages to provide crucial utilities and fixes for projects operating on the protocol.

Here's why a project might want to migrate to V1.1:

Features​

• Pause - Projects will be able to pause contributions to their treasury as well as subsequent token issuance on a per-funding cycle basis. Any new transactions – or pending low-gas transactions in flight – that settle after a paused funding cycle has started will fail.
• Mint - Projects will be able to allow itself to mint more of its own tokens on a per-funding cycle basis. During a funding cycle where minting new tokens is allowed, the project owner can submit a transaction to increase the token supply and send this new supply to a beneficiary of its choice.

Currently projects can only mint new tokens before receiving a first contribution.

• Burn - Anyone will be able to burn their tokens by redeeming them, even when there is no overflow.

Currently tokens are only burnable when there is some amount of overflow that is being reclaimed through the redemption.

• Off-protocol redemption value - Projects will be able to supply a contract to their funding cycles that tell the protocol how much value it is holding off-protocol, like in a multisig wallet or yielding vault. Projects can use oracles in this contract to convert the value of any other asset it owns into ETH for the protocol to use when calculating redemption values.

Currently redemption values are calculated only with the ETH the project has locked in the Juicebox Terminal contract.

• Fee cap - The protocol fee is capped at 5%. JuiceboxDAO can adjust the JBX fee from 0% - 5%.

Currently there is no fee cap.

Bug fixes​

• Fixed bug that prevents a project from updating its reserved token tracker when the reserved rate is set to 0%. This bug prevented the project from reconfiguring from a 0% reserved rate to any other value without inadvertently creating an extra reserved token supply inso-doing. See this postmortem.
• Fixed bug that prevented overflow from being viewed correctly when a funding cycle rolls over before it has had its newly available funds distributed.

Other adjustments​

• The contract is now directly Ownable instead of using an ownable Governance contract proxy. The JuiceboxDAO will own the contract, which allows it to set the fee, and allow other forked Terminal contracts for projects to migrate onto.

Last update: 9/07/2021

Current focus areas are:

• Risk mitigation
• Protocol upgrades
• Web experience
• Analytics
• DAO relations
• Liquidity pools
• NFT marketplace
• Governance
• Materials

Focus areas​

Risk mitigation​

Goal: Make sure things don't go to zero.

Current team: jango (lead), exekias, peri.

Updates:

• nothing to report.

Help needed:

• Reviewing V2 docs and tests.
• Bug bounties now included in the V2 documentation that's underway.

Protocol Updates​

Goal: Evolve the protocol to be more useful.

Current team: jango (lead), peri, exekias, nicholas

Updates:

• Progress on documentation. JBSplitStore, JBOperatorStore, JBPrices, and JBProjects are fully documented. See Protocol section of docs.juicebox.money.
• Bug bounties now included in the V2 documentation

Help needed:

• More eyes on the docs
• Pursue leads for solidity audits in next 4-6 weeks

Web experience​

Goal: Improve the Juicebox experience both for people starting communities and for communities that are growing.

Current team: peri (lead), jango, exekias

Updates:

• Added feature for JB Project owners to update assets listed in the Project UI
• will eventually support 721 assets, too
• 'Pay' button Call to Action can now be customized
• Rinkeby support
• JB Interface now has its own dedicated repo and issue tracking https://github.com/jbx-protocol/juice-interface

Help needed:

• Backlog of todos https://github.com/jbx-protocol/juice-interface/issues
• Would love to bring on a dedicated person to get familiar with the UI codebase

Analytics​

Goal: Give projects rich insights into their community treasury.

Current team: peri (lead)

Updates:

Contribution pipeline being refined. Subgraph now has a dedicated repo with a streamlined deployment flow.

Analytics roadmap being refined as steps for V2 migration become clearer.

Subgraph Deep Dive

Help needed:

• Work/todos being tracked here https://github.com/jbx-protocol/juice-subgraph/issues

DAO relations​

Goal: Work towards making sure JB projects and the JB community have the resources and attention they need to get started and thrive.

Current team: nati (lead), zeugh, mieos, nicholas, jango

Updates:

• Jango and others converting people from DMs into discord members.
• Lots of people coming into the DAO relations channel.
• Pencil DAO created without any interaction with team. BrainDAO and others coming online.
• Idea: Daoification Hackathon to help JuiceboxDAO members feel more comfortable onboarding others.
• Meeting with largest single contributor: Conversation with Tom Schmidt of Dragonfly Capital
• Lots of progress in Notion: Tools section, How to section.
• Meeting notes becoming standardized and recordings much more frequent
• Gitbook docs welcome page and contract addresses added.
• Zeugh bought Sesh pro.

Help needed:

• Project lead on Daoification hackathon where anyone can join in and create a bunch of projects on rinkeby to be more comfortable configuring and reconfiguring a JB.
• Project lead needed to design and implement faster easier way to create "a DAO for your group chat". Can this be done with a Discord bot?Help Needed
• Feedback to Zeugh for discord restructuring.
• Adding info to Tools.
• More people willing to record calls and upload.

Liquidity pools​

Goal: Add support for JB treasury tokens in secondary markets for communities to be able to value their assets better.

Current team: exekias (lead), jango

Updates:

• No updates. Core dev team is focusing on V2 for the time being.
• Might be a good move to fork the BarnBridge rewards contracts instead of the synthetix ones.

Help needed:

• Someone to help test, verify, and deploy the staking contracts.

NFT Marketplace​

Goal: Give JB projects a place to sell digital (and eventually physical) goods which pipe percentages of revenue to any number of addresses or Juicebox treasuries.

Current team: nicholas (lead), jango, peri

Updates:

• Looped in Peri and Mieios for NFTMKT specification feedback meeting.
• Reprioritized NFTMKT, JB devs will do a sprint this coming week, Sept 27, 2021
• Nailed down V1 spec with Peri's help. Updated architecture, replacing submit with list function, which will save on gas.
• Reaffirmed permisionless design of NFTMKT and v2+ roadmap.
• We will also stand up a couple 721 Creator contracts so artists collaborating with JB projects (e.g., Numo with Sharkdao) can create superior NFTs than on the OpenSea creator contract, which is closed source, centrally hosted metadata by default, and a shared contract. We anticipate one 721 contract for closed collections (where token supply is known in advance) and one open minting collection (where artist can add over time). Nico already has a closed collection contract that we can refine. Can also build a simple front-end to make this easy for artist collaborators (and the broader NFT ecosystem).
• We continue to experiment with ideas about spinning NFTMKT off into its own JB project because the opportunity is large, and we believe that small teams working on focused projects are more effective than one overwhelmingly large vertically integrated JB protocol team. Perhaps initially staffed by same dev team as JB. Can focus on NFTMKT and the creator contracts. Could collect a fee for NFTs sold through the marketplace (2.5% like opensea?) or could be free. If it had revenue it would have more opportunity to expand dev team. Also thinking about token-swaps between NFTMKT and JB 📈🤝.
• Increasing belief that NFTMKT will solve the DEX vs JB dilemma facing DEX-traded DAO tokens, where the DEX is always a better price than the JB, by game-theoretic definition. This limits DAOs' ability to fundraise because DEX trades do not affect DAO treasuries. NFTMKT will allow DAOs like Shark to largely replace direct-to-JB appeals. DEX purchases may still offer cheaper DAO tokens than the NFTMKT, but buyers will not get access to limited edition NFTs via the DEXes. NFTMKT will also be more fun and easy to use for NFT acclimated, compared to JB or DEXes which are unfamiliar to many in that space.
• The team is very excited about the promising design specification and roadmap for the NFTMKT.
• Nicholas also discussed with Mieos affordances in the 721 contracts that will enable WAGMI to create NFTs on behalf of client DAOs. Achievable design requirements even within the V1 spec.

Help needed:

• Review read methods & TheGraph events with Exekias or Peri this coming week
• Nico x Jango will collab to finalize v1 NFTMKT solidity
• Nico to talk to Pencil DAO

Governance​

Goal: Plan how we make decisions within the community.

Current team: 9birdy9 (lead), zheug, jango, unicornio

Updates:

• New voting process
• Finalized proposal process
• New governance process:

Governance

Includes Proposal Templates for each common type of proposal.

All JBX holders participate in votes that affect big picture JBX variables.

Changes to recurring payouts are voted on by addresses currently receiving payouts as they have greatest insight and are most affected by such changes.

Changes to reserved token allocation voted on by addresses currently receiving reserved tokens as they are most affected.

Addresses receiving payouts are expected to vote.

• Discussion about whether large token holders and people on reserved list should have max voting capacity or some quadratic strategy that limits outsized impact.
• First trial of these new templates in current governance process.
• @9birdy9's trial payout proposal is the first proposal sent to snapshot according to these forms.
• FC5 reserved JBX tokens will be passed without a formal snapshot for lack of sufficient time to complete our governance snapshot process. We will use snapshots for future reserved token proposals.
• Creation of BANNY gov participation incentivisation token — An airdrop is in the works.

Help needed:

• Refining governance process:
• Creating informational foundations to keep people up to date on governance proposals/timelines.

Materials​

Goal: Videos/visuals/memes/stuff that radiates Juicebox vibes.

Current team: WAGMI studios

Updates:

• WAGMI producing cultural content
• Published overflow video

Help needed:

• Feedback on content
• How can WAGMI help juicebox projects launch
• Helping onboard
• Developing visual identity (cultural material)

Co-authored: jango, peri, exekias, nati, nicholas, zeugh

Current focus areas are:

• Risk mitigation
• Web experience
• DAO relations
• Analytics
• Liquidity pools
• NFT marketplace
• Governance
• Protocol upgrades
• Materials

Focus areas​

Risk mitigation​

Goal: Make sure things don't go to zero.

Current team: jango (lead), exekias, peri.

Updates:

• No new bugs/problems discovered in the contracts.
• New repo where security issues are documented here.
• Wallet connection issues in the front end solved. One remaining bug where connecting wallet from the projects page sometimes causes the beneficiary field of payments.
• DefiYield auditors seems to have dropped off. Need to follow up again.
• Focus on security now moved to V2. Documentation, tests, audits, etc.

Help needed:

• It'd be great if more folks could help write tests and review the code and documentation as it gets done. We should collaboratively mold this into its final, secure form.

Web experience​

Goal: Improve the Juicebox experience both for people starting communities and for communities that are growing.

Current team: peri (lead), jango, exekias

Updates:

• New analytics data in project dashboards. Still room to grow, more data sourced into The Graph and ready to use.

• New wallet connection integration. Can now connect with many other wallets with BlockNative integration.
• Progress on Github issues backlog.
• Wording in the interface being reconsidered:  "staking" vs "claiming".
• Researching different UIs for different treasury types.

Help wanted:

• Backlog at https://github.com/jbx-protocol/juice-juicehouse/issues

DAO relations​

Goal: Work towards making sure JB projects and the JB community have the resources and attention they need to get started and thrive.

Current team: nati (lead), jango, nicholas, mieos, zeugh

Updates:

• Gitbook updates underway. Walkthrough, explanation of processes.
• Working with Whiteboard crypto, UltraDao, BeatsDao.
• Focusing on established DAOs. Might refocus to newer DAOs later.
• People should forward questions from #support and from other JB projects to Nati to aggregate into docs.

Analytics​

Goal: Give projects rich insights into their community treasury.

Current team: peri (lead), buradorii

Updates:

• Most updated in the UI under the "Web experience" focus.
• Experimenting with what data can be accessible in the UI.
• No updates on Flipside or Dune analytics.
• People want to see current token holders for each projects.
• People want to see current FC vs upcoming FC.
• People want to see the price the treasury token is being sold at over time.
• People want to see the percent of the tokens that they will own at the time of making payments.
• People want to be able to play out funding cycle scenarios before making reconfigurations.

Open to help:

• Index more Subgraph events.
• Display discount rates (tokens/ETH) of past funding cycles.

Liquidity pools​

Goal: Add support for JB treasury tokens in secondary markets for communities to be able to value their assets better.

Current team: exekias (lead), jango

Updates:

• Experimenting with Synthetix staking rewards contracts: https://github.com/jbx-protocol/staking-rewards.
• Fleshing out UI prototypes:

Help wanted:

• Comms with JBX project owners (e.g., SHARK) to understand their needs from a staking reward/LP perspective.
• Devs with staking rewards expertise.

NFT Marketplace​

Goal: Give JB projects a place to sell digital (and eventually physical) goods which pipe percentages of revenue to any number of addresses or Juicebox treasuries.

Current team: nicholas (lead), jango, peri

Updates:

• Big demand from SharkDAO (and others?).
• Draft of contract looking good.
• Plan for V1 is no UI on juicebox.money, make bare bones JS SDK/library with/for Shark to build a NFT MKT into their forthcoming website.
• Need to finalize what will be included in v1, and what won't.
• Specification draft
• Github repo (private for now)

Goals:

• Finalize spec for v1
• Get a working v0 implementation on Rinkeby by Monday 2021-09-13 EOD
• Get a basic 721 contract together to mint NFTs that we can submit to the marketplace

Help needed:

• Jango will help with contract implementation and testing (thank you –nicholas)
• Next week open to help starting building a JS SDK

Governance​

Goal: Plan out how we will make decisions together.

Current team: zheug (lead), unicornio, 9birdy9

Updates:

• Trying coordinape to test a reputation system. The epoch system feels good, didn't give us the easy integration to voting that we needed after the epoch.
• We're still wroking on our basic model for how to make decisions. Need to balance governance power between token holders and reputation/contributions but we haven't got a way to test it yet.
• We can, at the moment, take the csv of reputation distributed after the Epoch, but are still looking on how to import those in a strategy to snapshot. Need help from more dev oriented folks to communicate coordinape results onto snapshot.

Help needed:

• We need some dev/snapshot help to integrate our new governance system into a snapshot strategy.

Protocol upgrades​

Goal: Evolve the protocol to be more useful.

Current team: jango (lead), peri, exekias, nicholas

Updates:

• V2 has been announced here.
• Reviewed V2 with Peri, Exekias, and Nicholas, got very valuable feedback that is being iterated on.
• Docs for V2 are in progress here.

Help needed:

• Same as in the "Risk mitigation" section.

Materials​

Goal: Videos/visuals/memes/stuff that radiates Juicebox vibes.

Current team: WAGMI studios

This is a new section that will have updates next time