NEWOsletter
Written by: 0xAkina, Mitch, Molecularity
Introduction
New Order is a community-led Venture DAO concentrated on incubating DeFi projects. We build valuable projects that have a real purpose in DeFi. In this week’s newsletter, we highlight some updates on New Order; then its projects: [Redacted], H2O, and Optify; and finally, the current governance proposals.
V2 Migration
New Order’s native token, $NEWO, is transitioning to V2 on Wednesday, Feb. 2nd. Along with the token transition, V2 LPs will be available. In the next coming weeks, Avalanche and Arbitrum LPs and vaults will be accessible. A more detailed explanation of the migration process is available here.
DeFi Basecamp
New Order has launched its highly anticipated DeFi Base Camp accelerator program in partnership with Outlier Ventures. The accelerator will provide support in areas such as business strategy, token design and tokenomics, legal framework, technical support, branding and position, community building, marketing, and communication, as well as helping with initial fundraising, establishing strategic partnerships, and building a foundational support network.
If you or someone you know has a startup idea, please consider applying for the program.
You can apply online or reach out to one of the NEWO core team members on the New Order discord with any questions.
DeFi Areas to Explore
Since New Order is a leading DeFI incubator, it is important that we stay ahead of the curve and invest our time in the most important projects. For this reason, a lot of our time is spent researching the DeFi ecosystem to identify valuable opportunities. Some of the relevant areas we are currently exploring are yield tokenization and DeFi infrastructure innovations. We are continually fine-tuning our theses about DeFi trends so that we only build prominent products.
Projects:
[Redacted]
Redacted has successfully accumulated a treasury of over $72 million (as of 29.1.22, excluding BTRFLY treasury assets), comprising DeFi’s most important governance tokens. The bonding/rebasing mechanics pioneered by Olympus DAO have been invaluable to the protocol’s bootstrapping phase, but were never intended to be used by Redacted long term.
Amidst preparations to rollout V2 of its native token, BTRFLY, the Redacted internal policy team has put forth a proposal, passed yesterday, which reduces rebase emissions from a 0.5625% reward rate to a 0.2025% reward rate over 80 days. Aiming to reduce inflation and its corresponding effect on token price, this measure will allow the BTRFLY token to maintain a premium and preserve the protocol’s ability to continue to bond DeFi governance token assets (CVX, FXS, CRV, ████ , █████ ) and grow the treasury efficiently.
V2 plans (still in development) include a host of novel innovations that will introduce expanded use cases for BTRFLY and create new non-dilutive value streams. An example of this strategy is the coming launch of Redacted’s Hidden Hand marketplace, a bribe platform (enabled by Redacted’s recent acquisition of Votemak) that lets protocols create markets for their ve-tokens where Redacted captures a fee that is distributed back to lockers of the BTRFLY token.
H2O
Incubated by New Order in partnership with Ocean Protocol & Reflexer Labs, H2O is a stable asset backed by tokenized data that uses $OCEAN as collateral. Alpha testing has been taking place over the last few weeks, and community testing will be coming soon. The only objectives left are running community bug testing and creating a marketing strategy in anticipation of the Feb. 28th launch. Keep your eyes peeled for H2O’s social media & Discord accounts in the coming week.
OptyFi
OptyFi is a yield optimizer that is designed to bring capital markets-type efficiencies to the DeFi space. The focus for OptyFi at this current stage is to create a sound and functional product, and build a tight-knit community for Beta and Alpha testing. Some of the things in the pipeline are finishing Convex Adapter to Beta vaults, launching on Polygon, issuing a token sale, and releasing NFT vaults.
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.
NOIP1: Halborn Security Expenses
To ensure that our security practices are in line with the most current standards, we have established a partnership with Halborn to provide their expertise and guidance. The current engagement is for 12 months, during which Halborn will continually run penetration tests on our systems and will audit the smart contract code that New Order is built upon. The engagement comes at a necessary cost of $50k per month for the contracted period, and will be charged to the treasury.
(Closed - Yes - 99.16%)
RFF: Avalanche and Arbitrum Deployments
Launch ETH/NEWO LP on Arbitrum and MIM/NEWO LP on Avalanche with a 500k multichain fund used to fund cross-chain incubated projects.
(Closed - Yes - 95.19%)
RFF: Transition to Olympus Pro
In order to sustainably diversify the treasury and make the LP contain sustainable liquidity, a strategic move would be to exchange the liquidity mine to leverage the Olympus Pro platform. This proposal suggests that the treasury subDAO allocates 2,000,000 NEWO on Olympus Pro in order to sell NEWO bonds.
(Closed - Yes - 96%)
The goal for this partnership is to support and accelerate early-stage high potential DeFi projects by sharing and leveraging both New Order and Outlier Venture’s resources, propelling the new digital economy forward. The first cohort (starting April 2022) is expected to have 8-10 projects.
(Closed - Yes - 100%)
RFF: Pausability of V2 Contracts
making the V2 governance token Ownable/Pausable - which will allow the New Order DAO multisig to pause token transfers in certain cases like emergencies such as hack or to make Protocol upgrades.
(Closed - Yes - 95.51%)
Get Involved!
It should be clear that New Order is ramping up and shipping on multiple fronts. For this reason, we are recruiting talented and expeditious candidates to join our growing team. If you know someone who would be a great fit (and perhaps that someone is you!), please reach out to any of the New Order core team via Discord.