NEWOsletter
February 28, 2022 Edition
Contributors:
Molecularity, 0xAkina, Mitch, ultimatepro234, AMBERZ.S
Introduction
Another week has passed, we are getting closer and closer to the launch of H20, which we have set for middle to late March to synchronize with the launch of Ocean V4. Also, news from OptyFi, another New Order incubated project, highlights improvements in tokenomics that will benefit long-term investors. The Defi Base Camp is growing beyond our expectations. The New Order Research Sub-DAO team is sifting through the hundreds of proposals received (and some are interesting, more info soon). As for the new vaults, after the problems encountered with Avax (not related to New Order), we have decided to first launch the Vaults on Arbitrum, which will arrive soon.
DeFi Base Camp
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. Today, the community has submitted over 250 applications for this program. To evaluate these project proposals, New Order created a Basecamp Evaluation Committee. We just completed this committee and are excited to announce that BlindSquirrel#0806, Sanchopansa, and BowTiedProngHorn#2776 will be the representatives on the Evaluation Committee. The confirmed list of mentors for DeFi Base Camp includes:
JP Mullin, Mantra DAO / Soma Finance, Co-founder & CEO
Lex Sokolin, Consensys, Head Economist
Brian Melville , Previously at Cumberland DRW
Bhaven Pathak, CoinBurp, CFO / COO
James Wo, Digital Finance Group, Founder
New Order is excited to bring these exceptional individuals onto the team to ensure DeFi Base Camp is a successful program.
Projects:
[Redacted]
As Redacted Cartel progresses developing V2 of the protocol, this week has brought a steady stream of announcements and new partnership initiatives. A new and improved Contributor Program launched this week, which you can read all about here. The dev team has been steadily building behind the scenes and leaked the news that the codebase for Hidden Hand passed initial auditing this week.
A new partnership announcement with Pendle Finance introduces a new use case for BTRFLY. Token holders now split their yield-bearing wxBTRFLY tokens into separate yield and ownership components, known as YT (yield token) and OT (ownership token). By separating the yield from the principal, users can then bet on or hedge against the APY of Redacted. Users can also provide liquidity to Pendle LP pools to earn additional yield.
Debt DAO, a protocol born out of the Olympus incubator program, recently approached the Cartel, offering to provide Redacted with a revolving credit line of up to $5M. The offer of a 6-month loan for up to $5M in FRAX would not require Redacted to provide up-front collateral to secure the loan and would be assessed 9% APR on drawn balance and 2% on committed but undrawn balance. Given that Redacted’s treasury consists almost entirely of bonded governance assets and illiquid native BTRFLY, a debt facility could empower the protocol to take strategic steps such as participating in seed rounds and making OTC purchases assets and incurring large one-time expenses, e.g., contract audits. The Policy Team submitted this offer as a Request for Feedback (RFF) on the Redacted Commonwealth Forum, where it is currently posted, to gather community feedback.
H2O
As we near launch, things are ramping up for H2O - expected to come mid-late March 2022. As of right now, the team is completing the funding round. More information about the strategic investors will come out soon. On the technical side, we finished everything besides minor tweaks to the UI/UX in the DApp.
Reminder to the New Order community that we are releasing 4% of the total supply in an airdrop to our loyal single-side stakers and liquidity providers. Keep up to date with the latest news by joining the brand new Discord Server. Also, look at H2O’s mirror page to learn more about the project.
OptyFi
OptyFi released big news after the community call on February 25th. The major highlights include:
The refactoring of the Yield Vaults is ready to be launched soon. Previously, Vaults rebalanced with each withdrawal or deposit resulting in slippage. After refactoring, depositors and withdrawers will pay the slippage cost and not by the entire Vaults, allowing us to have cheaper gas fees, less slippage, and to implement better strategies.
The CryptoPunks Data Science Competition is underway, and this week they will announce the winner who will take home 5000 $OPTY + a portion of the fees earned at the end of the investment period.
The $ OPTY tokenomics is undergoing changes that will favor patient capital through the use of a time-lock staking system. We will make it possible to staking $OPTY and all of our token vaults for different periods, making it more unlikely to dump our token and incentivizing our long-term yielders.
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.
Lending H2O protocol $ETH for deployment fees
Whereas: New Order is incubating the H2O protocol; and the New Order community will be receiving a $PSDN (H2O governance token) airdrop after the protocol launches; and H2O protocol requires Ether to deploy it's smart contract.
We propose to lend 50,000 USDC to buy ETH in order to deploy the necessary smart contracts on Ethereum Mainnet (to launch the protocol). This amount is to be paid back within 90 days.
(Closed - 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 launch 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.
Get Involved!