FUD FAQ | A Weekly Community Thread | Week 20
FUD FAQ | A Weekly Community Thread | Week 20
Top Question of the Week
• When is the next opportunity for growing the liquidity of $MONA?
After the successful Bancor whitelisting the $MONA liquidity has not only increased but also slippage reduced across platforms. This is a next big leap for the protocol and we are stoked that the 150K BNT co-investment pool slot filled up so quickly— within a few hours. It doesn’t stop here though, we are planning to make further snapshot proposals in the coming weeks to both increase our pool size on Bancor and also potentially enable BNT rewards for our stakers.
On top of this, we are also actively taking steps to increase the liquidity of the token on Polygon network where a lot of our engineering, marketplace and sales ecosystem is situated. On August 16th/17th the DIGITALAX Treasury will be seeding a $MONA/QUICK pool with 50K worth of $MONA/QUICK. If a remaining 50K is matched by members of the community then the pool becomes eligible for the new Quickswap rewards program that is initiating on August 18th. You can view the new rewards ecosystem here and benefit for LPs here;
Most Common Repeat Questions
• Why is the Global Designer Network DAO Auction and Web3 Fashion Week important? How does it help DIGITALAX and $MONA token holders?
The GDN was formed as the very first dedicated designer DAO, specifically with the focus of supporting, empowering and catalysing digital and physical web3 fashion designers globally.
Each with their own independence, they ally together to 100x what any could achieve by themselves. It is a standalone DAO for designers, where the $GDN token launch is the DAO’s governance token and distributed evenly amongst all members, with use for transitioning into snapshot voting as we scale out and undertake more projects and grow. Proceeds from the Designer DAO auction will be pooled by all designers to seed the initial liquidity for the GDN treasury, with usage across key areas as outlined in this article. So how does this benefit the DIGITALAX ecosystem and $MONA token holders? Well, in short; tremendously. The key to it all is indirect reciprocity.
DIGITALAX might be building and strengthening the pipes but vitality, activity, creative power is needed to make the water flow. The designers are key to this. They are what hold the power to transform the entire legacy fashion industry, overcome the incumbents and plant the flag for the mission we originally set out to achieve. This whole ecosystem is about them. Because empowerment of creators is what establishes this entire protocol for a better industry where everyone can benefit, liquidity can be generous and above all we can actually win; the overthrow of the old centralised crowns.
Taking a stake in this DAO directly would only create a cap, in both senses. Instead, it’s about what we can create when we use the power of allied networks.
Top Controversies in the Industry
The cryptovenetian drama has been a mix of confusion meets slow motion IRL disaster. It’s been hard to follow to say the least but some social engineering seems to have gone down. Crossing digital and physical can get weird sometimes. It’s ok, we are probably all living in a simulation anyway… thanks Elon @ _ @. But as this expands into NYC and regions/cities as planned, it’s hard to say how confident the team is in upscaling security against digital and physical Danny Ocean’s alike.
Silly Fails and Trolling
It’s all fun and games until you combine a penguin with a rotten pickle. But seriously, anon isn’t an excuse to cut and run on any project. Greater responsibility needs to be taken by builds in web3. It’s kind of expected that questionable practices will arise when there is a flood of PFPs and collectables in the space with very little insight into what is going on behind the scenes. Not to say that all of these products are bad, just be careful out there.
If you would like a question answered or contribute content to next weeks article please reach out through our DIGITALAX discord server in #FUD-FAQ channel!
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