NEWOsletter
February 21, 2022 Edition
Contributors: Molecularity, 0xAkina, Mitch, ultimatepro234, AMBERZ.S
Introduction
Despite the overall market conditions, the philosophy of New Order is to work, regardless of the circumstances. Exciting weeks full of news await us. The major headlines include new Vaults on Avalanche and Arbitrum, incubation projects unearthed by the Basecamp Evaluation Committee, and the launch of H20 and OptyFi.
DeFi Base Camp
The Defi Base Camp is the program launched by New Order in collaboration with Outlier Ventures which aims to speed up the launch of decentralized projects concerning EVM to Non-EVM Bridges, Gas efficiency tools and composability layers, NFTs as collateral for loans, AI-powered oracles, DEX aggregators, stablecoin and much more. The requests arrived are at over 300 (continuously increasing). For this reason, it becomes essential to create a team that takes care of sifting and subsequently selecting the best projects to accelerate. New Order proposes to create a Basecamp Evaluation Committee that will represent the interests of the New Order community & New Order VentureDAO to select the most eligible team for DeFi Base Camp. It acts in the best interest of New Order VentureDAO with a mission to build in the future of DeFi that is multi-chain, permissionless, and AI / ML-driven.
The Evaluation Committee members will use their best knowledge and skills in evaluating blockchain startups to determine whether a prospective applicant is a good fit for the DeFi Base Camp.
Avax Integration
If you have not yet heard the news, New Order will bridge NEWO to Avalanche ahead of staking vaults and other DeFi opportunities that will be deployed on the AVAX network. This will be an important early step towards realizing the ultimate vision of cross-chain interoperability.
Launching on Avalanche will present new opportunities for the DAO and for NEWO token holders. For users, all NEWO transacting activities including sending, staking, claiming, and re-staking NEWO tokens on AVAX will be more gas-efficient. Also, this deployment opens up the possibility of creating new partnerships that capture value for our community.
Because of issues not related to New Order, implementing Vaults on Avalanche is postponed for a few days. Avalanche Bridge is currently unavailable, and we are looking into other solutions such as Synapse and a few others.
AMA’s/Public Discussion
There were no AMAs and no public discussions this week.
Projects
[Redacted]
In the early days of the Redacted cartel, the original plan was to reward contributors with pBTRFLY. Despite this, none of the 12.5 million pBTRFLY has left the treasury to date. After the recent passage of the proposal regarding a Budget of Contributors formed in a manner directly proportional to the protocol's performance, pBTRFLY has become a dilution threat for investors. The logical consequence is the burn proposal of the entire supply of 12.5 million pBTRFLY. In addition, the cartel proposed to create an Operation Strategic Asset Committee. By participating in Votium, Redacted is accumulating bribe rewards in token assets that are not integral to the Cartel’s long-term objectives.
The Strategic Asset Committee proposal aims to empower the Redacted Policy team to act with autonomy to sell strategically less important assets and exchange them for tokens of major significance in DeFi. This step would have the added benefit of enabling Redacted to avoid the front-running of open market transactions, and allow for the rapid exploitation of investment and market opportunities.
For the alpha scoop on Redacted’s upcoming plans for V2 and more, have a listen to the recording of this week’s “Coffee Chat” twitter spaces with Redacted co-founder 0xSami, hosted by Intern DAO.
H20
Except in the case of incredible overtaking at the last minute, the community has chosen what will be the redemption price of H20, 1.618, the golden ratio! In order to have a successful launch and sync with the Ocean V4 launch, we will push the H2O launch back to March 13th.
As an incentive, we will give 4% of the total supply in an airdrop to our loyal single-side stakers and liquidity providers. Stay up to date with the latest news by joining the brand new Discord Server and Twitter page. Also, take a look at H2O’s mirror page to learn more about the project.
OptyFi
The refactoring of OptyFi Vaults will take place in the next few days. This will finally allow users to withdraw their funds without having to pay the rebalancing of the entire Vaults, a feature much requested by Power and SuperYiedler users (alpha testers). This will allow for much cheaper withdrawals, less slippage, and an increase in the strategic possibilities of the OptyFi Vaults. After resolving the vaults refactoring issue, the team will turn its attention to developing on Polygon. All referrals brought by Power and SuperYiedler users will be included in the Polygon vaults whitelist.
Governance Snapshot Votes
A selection of important proposals recently submitted to the DAO. If you want access to the full ongoing list, check out the Voting section of the New Order website.
RFF: Basecamp Evaluation Committee
This proposal is to seek approval from the New Order community to assemble an Evaluations Committee on behalf of the DAO, for the applications we receive for DeFi Base Camp. This Committee will serve as representatives and the first line of screening to read, vet, and perform due diligence on each team applied. They will share the preliminary results and shortlist 30-40 eligible applications for further discussion with Outlier Ventures and the founding team
( Open - Yes - 100% )
Conclusion
The purpose of New Order is to incubate or accelerate the development of new and critical decentralized projects. Creating a Basecamp Evaluation Committee is necessary to achieve our goal of launching 30-40 projects per year. If you want to keep up to date or are interested in contributing to the development of our Decentralized Venture Dao we invite you to follow our Social channels or come and introduce yourself on Discord.