NEWOsletter
February 14, 2022 Edition
Contributors:
Molecularity, 0xAkina, Mitch, ultimatepro234, AMBERZ.S
Introduction
Another week passed quickly, and the New Order team did what they do best, build. With the Avax Vault now imminent and the Arbitrum Vault arriving within a few weeks, New Order is always listening to the community's requests that have been clamoring for these implementations since day zero. The launch of h20 expected on February 28th will mark a new era for the New Order community, which will receive for the first time an airdrop of the governance token of an incubated project.
Here’s a quick rundown on all the latest developments:
DeFi Base Camp
DeFi Base Camp so far has been smooth sailing. There have been 204 applications in total in 30 short days since the application has been open. Both the variety of the use and the quality of the projects applied have exceeded the expectations. With a large number of applications, we think the best way to represent community opinion on admission is by assembling an Evaluations team dedicated to the first line of screening for those applications. Especially for DeFi Base Camp, we have been working tightly with the Outlier Ventures team.
V2 Implementation
The transition to version 2 of the New Order token went smoothly. Almost all of the holders made the simple migration required to continue to obtain yield and all the advantages that holding NEWO entails. The success of the migration allowed us to focus on building the Avax Vault, which will launch this week, and on the Arbitrum one, which will arrive shortly after that. Emissions of the new $NEWO tokens will be split based on the average of the token staked in every vault a given week, and we will rebalance every week. Coingecko and Coinmarketcap now show the correct price of NEWO v2.
AMA’s/Public Discussion
February 16th: Twitter space with Jason Choi (GP Spartan Group) on New Order Twitter account
Projects:
[Redacted]
The Redacted community recently passed Operation "Fast track to Curve v2", a proposal brought by Redacted’s internal policy committee to take an interest-free loan of 4000 BTRFLY from the Redacted Cartel DAO fund to pair against bonded ETH in a new BTRFLY : ETH Curve pool. In light of the recent increase in BTRFLY price, and the corresponding decrease in Redacted’s POL / market cap ratio, a short-term solution is needed to boost POL. Progress is being made on the smart contracts required to implement Operation Thecosamata, which was designed to address this need long-term. These smart contracts need to be audited, however, an unprecedented demand for DeFi contract audits means the policy team recognized a stop-gap solution was needed in the interim, while they wait for these contracts to be audited.
Other developments include:
A proposal to delegate $1.5 million of vote-locked CVX from the treasury to The Union and use its services to earn passive bribe rewards in the form of auto-compounding cvxCRV
A partnership with Mover DAO that enables wxBTRFLY holders to utilize their assets on a crypto debit card
The passage of a contributor budget proposal that allocates $2M in BTRFLY to compensate DAO contributors, operational costs and core team for the coming 12 months of operations.
H2O
The H2O team is working hard to deliver on a successful launch. The launch date is scheduled for February 28th, right ahead of Ocean’s V4 launch. For those that aren’t aware, H2O is a fork of RAI, Reflexer’s non-pegged and decentralised stableasset backed by ETH, but with a twist. Since ETH is such a volatile asset and is subject to unsavoury price action, it doesn’t make for an elite unit of exchange. H2O is an data-backed, non-pegged stableasset whose monetary policy is managed by an on-chain, autonomous controller. Therefore, the H2O token can properly serve as a stable unit of exchange on the Ocean Market - without all the swings that come from the OCEAN token. More H2O content will be released over the next couple of weeks on the H2O social channels. Follow along as The unwavering echo of H2O is awaiting you.
OptyFi
OptyFi's Beta Vaults were a huge success, raising nearly $2 million in just a few days. As previously announced, 30 days after the beta vaults launch, rewards have dropped to 300 Opty/day per Vault. Both PowerYielder and super Yielders will now be able to console themselves with the new referral system that will allow them to refer their friends and receive an additional 10% as a reward from OptyFi on the $OPTY earned by their friends. Rebates on gas fees will also be available for Yielders who will keep their funds locked until the launch day scheduled for the beginning of March..
Governance Snapshot Votes
A selection of important proposals was recently submitted to the DAO. If you want access to the full ongoing list, check out the Voting section of the New Order website.
There were no new governance votes this week.
Conclusion
The New Order team is focused on building valuable projects in DeFi, new incubated projects are coming soon, this is just the beginning. If igniting a new era of venture in the DeFi sector sounds like something you’d like to get involved in, reach out via Discord or our website, we’d love to hear from you!
Get Involved!