NEWOsletter
April 4, 2022 Edition
Contributors: 0xAkina, Mitch, Molecularity, Ultimatepro, AMBERZ.S, Crypwalk
Introduction
It's been an explosive start to the quarter for New Order. The week began with a bang with the partnership between Redacted, Terra, and Frax, which marks a new beginning for the stable coin market. The proposal to introduce veNEWO is now on Snapshot. The voting escrow model's locking system distributes protocol rewards favoring token holders with conviction rather than the number of tokens held. We conclude with the imminent launch of H20 and OptyFi, our second and third incubated projects, respectively. Surely, April will be an exhilarating ride for New Order.
Defi Base Camp
DeFi Base Camp is finalizing deals with the prospective teams in the pipeline. The applications range from new on-chain asset classes, derivatives, NFT financial use case, risk-adjusted collateralized DeFi indexes, DeFi insurance aggregator, and stable-yield cross chain liquidity protocol. As an effort to expand the first cohort, we are in talks with a few reserve companies that work on crowdfunding for metaverse assets, cross-chain liquidity protocol to enable nartive asset swaps (instead of creating synthetic assets), decentralized KYC, etc.
Next week, NEWO core team will participate in the first part of the program - OV & NEWO Deep Dive, where the team members will give feedback on each of the team pitches, set OKRs for the team, and help plug in resources.
On community engagement, discord channels are being set up for the founders to communicate with our community members and relay tasks on DeWork.
Projects
[Redacted]
With the highly anticipated rollout of the Hidden Hand marketplace and the Redacted V2 launch arriving this month, the Cartel has been busy making moves. The protocol treasury recently surpassed $100M in non-BTRFLY assets and set a record of over 10500 tokenholders. For more granular insights into the protocol's growth, check out the new Dune Redacted policy metrics dashboard.
This week, the alpha leak that caught fire was announcing the proposed 4pool partnership between Redacted, Terra, and Frax. The 4pool is a new Curve pool composed of UST, FRAX, USDC, and USDT. What's the goal, you might ask? Frax and Terra are the two largest protocol holders of CVX, and UST and FRAX compete for CVX/CRV emissions. The 4pool will create sufficient stablepool liquidity and enable the entire DeFi industry to transition to more significant usage of decentralized stablecoins.
Enhancing this partnership, Redacted will begin voting exclusively for UST curve gauges (with the Cartel's current 1.2M vlCVX holdings) in exchange for Votium incentives paid to Redacted at 5% over the market rate. With the UST bribes paid to Redacted, the protocol will use it to pay contributors, participate in seed deals, single side LP, and build up a stable treasury to complement its war chest of governance tokens.
This news comes hot on the heels of the announcement that Terra will be using Hidden Hand to secure a Tokemak Reactor in the upcoming C.o.R.E. vote. Additionally, Redacted proposes opening a DAO2DAO credit line with Terra (facilitated by Debt DAO) to have a reserve of UST available at all times. This loan operates at a fixed interest of 9% on credit with zero collateral upfront and zero liquidation risk.
H2O as an Incentive in Ocean Data farming
The H2O token removes the volatility that users are typically exposed to when they use OCEAN for data farming. This makes H2O an integral part of data farming in the OCEAN data marketplace due to the stability it provides. H2O eliminates volatility by being a stable asset that acts as a medium of exchange and unit of account that can be used for transacting in the Ocean protocol. This means that data farming LP rewards can be swapped for H2O, allowing users to transact with datasets at stable prices. Stable data farming is on the horizon as the H2O team plans to announce details regarding the launch of the token this week.
OptyFi
The NFT Vaults will arrive in the coming weeks. What OptyFi is trying to introduce is the optimization of all decentralized assets, including NFTs, and making them accessible to all. Thanks to OptyFi’s strategists (NFT investors with a track record of success in NFT investing), users will be able to gain exposure to the NFT market without being experts in the field. There will be several NFT vaults; the first to be developed will have the themes chosen by the OptyFi team, and the community will select all the others. Users will then have the option to gain exposure in blue chips such as CryptoPunks or increase the level of risk with not-so-hyped projects. The NFT vaults are certainly a long-term play, and for this reason, the capital will be locked for a year. Despite this, OptyFi will create a secondary liquid market, perhaps a pool on PUNK-ETH on Sushiswap in which you can sell your tokens.
Governance Snapshot Votes
Adding 0xMaki.eth and ChefChe.eth as DAO multisig signers
New order proposes adding two signers to the DAO treasury multi-sig; the aim of adding both is to increase security and decentralization.
(Closed - Yes -99.38%)
Feel free to vote for the live snapshot about veNEWO here!
New Order proposes the Implementation of veNEWO, the locking system already successfully tested by Curve and Frax Finance that allows rewarding long-term, aligned users with New Order rather than mercenary capital.
(Open - Yes - 99.99%)
Conclusion
The purpose of New Order is to incubate the development of new and critical decentralized financial projects. Besides all of the in-house incubated protocols, creating a Basecamp Evaluation Committee is necessary to help 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. Please feel free to ask them on Discord if you have any questions.
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