The Management Board presents our first monthly report which details our monthly tasks and what’s next!
Since the formation of the Management Board, our highest priority was to Amend the Allocations for Beta and Gamma Testers & Launch a New Vesting Contract. Over the course of a few weeks we worked alongside the PowerPool Core team to analyze on-chain and off-chain activity in order to slash idle testers. The Management Board and Powerpool Core found 40 idle testers and proposed to slash their combined 2,000,000 CVP (2% of total supply) in Proposal 29.
Proposal 29 was accepted by the community, resulting in:
- 9,600,000 CVP burn (9.6% CVP total supply) from the Beta and Gamma’s Vesting contract
- New total CVP supply of 90,400,000
- Smart-contract with individual vesting rules for testers will be deployed to give the PowerPool community tools to work with testers.
2,000,000 CVP of the 9,600,000 burnt from the total supply was the 40 idle tester’s allocation. The remaining 7,600,000 burnt will be allocated to active Beta and Gamma testers from the Powerpool Treasury. This means that CVP’s new total supply will be 90,400,000 CVP.
If any tester believes that they were wrongly slashed then they should make a forum post detailing their on-chain and off-chain contributions to the Powerpool Ecosystem. The Powerpool community will then decide via a Governance vote whether or not to reallocate tokens to the tester.
We want to highlight that this wouldn’t be possible to achieve without the support from the core team, community, and testers.
Binance Smart Chain Indices Proposal
The Management Board delivered proposals for new indices this month that expands Powerpool’s reach beyond DEFI and Ethereum. More than 60 projects were analyzed as potential candidates for NFT & BSC Indexes.
We believe that the following proposed BSC indices are the most lucrative:
BSCI (Binance Smart Chain index) - BSC native projects and blue chips
Initial composition: Pancake, Venus, Bakery, Trust Wallet, Spartan, Autofarm, Alpaca, Helmet
EBSCI (Emerging Binance Smart Chain index) - initialy ETH ecosystem projects, moving on BSC.
Initial composition: Alpha Finance, Linear, Injective, UNIFI, RAMP, DEGO
Find detailed information and discussion on our Governance Forum.
Gnosis-Safe x CVP x Sablier
Gnosis Safe and Sablier added CVP in order to handle contributors’ payments. This will save time for the Powerpool Ecosystem as there’s no need to redeploy new vesting contracts each time we want to compensate contributors.
Redesigning our Current Indices
As dAMM’s applicaticability matures our goal is to transition our portfolio of indices to V2. This will include significant compositional changes alongside new indices being launched.
Increase Utility of CVP and Index Tokens
We are looking forward to working with Powerpool Core to establish a successful launch of xCVP. We will also start to explore increasing the functionality and adoption of Index Tokens in the DEFI market.
We are building a Meta-Governance Portal that will allow the Powerpool community to oversee all Governance proposals for projects that the community has voting rights in. The goal is to eliminate information asymmetry that organically occurs due to the amount of protocols Powerpool holds voting power in.
PowerIndex Content & Information
A major goal is to make PowerIndex more user-friendly for our target demographic. This involves working with internal documentation, external platforms, and extensive research.
Additionally, Powerpool’s GitBook is being revised to clearly explain each of PowerIndex’s components and adding all new features. Externally, we are making sure all gatekeepers have accurate and up to date information regarding PowerPool and PowerIndex.
We want to further incentivize content creation programs that lead to insightful information such as the YLA Aping Guide. If you want to create content for PowerPool or for the Management Board, please reach out to DrGonzo via Discord.
As a part of this efforts, PowerPool Creativity Contest was launched. Pleasee note, that we are actively working on expanding the contributor team, reach out to DrGonzo via Discord if you are interested.
The Management Board wants to move more attention to marketing after Proposal 29 and its amendment concludes. Our marketing strategy will focus on improving communication on distribution channels, leveraging tester’s influence, revising documentation, participating in interviews, and bringing more collaborations.
Collaborating with Testers
The Management Board wants to form a relationship with the active testers and build go-to market strategies leveraging their influence and connections to increase Powerpool’s standing. This includes creating strategies, individual and conference calls, and progress reports. This will ensure testers that the Management Board is committed to preventing their slashing through active collaboration while also ensuring the Powerpool community that testers are actively contributing.
Management Board Wallets
To increase transparency, we publicly disclose the wallets of the board members.