Contributors: 0xAkina, Mitch, Molecularity, Ultimatepro, AMBERZ.S, Contentooo
Welcome to the New Order Newsletter, where we provide updates on the development of New Order and its incubated projects on a bi-weekly basis.
New Order is a community led Incubator DAO that is facilitating the edge of the edge of DeFi through incubation and acceleration. Read on to gain further insight on where New Order and incubated projects currently stand.
New Order
With the successful launch of H2O, DeFi Base Camp underway, and other ventures like Frogs Anonymous being proposed to the DAO, it has been quite the quarter for New Order.
A preliminary proposal for Frogs Anonymous went live on Commonwealth. Frogs Anonymous will be a DeFi-native research hub built with the goal of producing high-quality content that maintains a crypto-native tone. More details here.
In addition, veNEWO testing is nearly complete with the code base expected to be sent to Halborn security for an audit soon.
All and all, this quarter has been packed as we continue to build and ship. For those that want to keep up with the New Order ecosystem, join our bi-weekly Community Calls in our Discord (On Fridays, 11am EST).
Defi Base Camp
Last week, the core team finalized the marketing, communications, and content planning for DeFi Base Camps. Along with our partners at Outlier Ventures, we strategized on how to co-market and amplify cohorts through investment memos, Twitter Space AMAs, Discord events, and more. We are expecting to announce the first Cohort very soon™, but this is subject to the progress of contractual agreements. In other words, we’ll be able to share more details when all of the legal work is finalized.
For additional insight into some of the work that goes on in DeFi Base Camp, here is a sneak peak at what projects do:
Monday: 20 min weekly standup with their venture associates; Storytelling Workshop with Andy Lark; Equity fundraising & NFT Education Session.
Tuesday: Tokenomics Workshop.
Wednesday & Thursday: Team 1-on-1 with Mentor-in-Residence, our one and only Eden, to dress all the roadblocks and strategize how to move forward with each set of OKR’s (Objectives and Key Results).
Friday: Token Design - Mechanisms Workshop & weekly wrap up with OV <> NEWO team.
Project Updates and Insights
Redacted
Redacted’s new bribe marketplace, Hidden Hand, enables DeFi protocols with veTokens (vote escrow tokens) the ability to incentivize their tokenholders to delegate their governance rights in exchange for bribe rewards. The soft launch has been a success and the proof of concept is being borne out as protocols have started utilizing the platform to compete for governance influence in partner ecosystems such as Tokemak, Frax, Balancer, and Ribbon.
With the Tokemak C.o.R.E 3 event on-going, bribes are starting to come through from protocols like Luna, Dodo, and even Redacted itself as an attempt to secure one of five coveted Tokemak liquidity reactor spots.
Meanwhile, a major milestone was achieved with a Snapshot proposal passing for Redacted V2 tokenomics. The V2 plan includes:
a new v2 BTRFLY supply schedule.
a transitional (reduced) BTRFLY APY in anticipation of the revenue-locked BTRFLY launch.
a rlBTRFLY revenue sharing mechanism.
The switch to a fixed cap token supply schedule reflects a transition away from a rebase model towards tokenomics which seek to create the most governance value for each BTRFLY token.
H2O
Finally, the news that many NEWO holders have been waiting for: H2O was successfully launched on April 27th and reached a TVL of over $1m! Through the official dapp, users can now deposit their OCEAN to mint H2O.
Staking Vaults have went live to ensure proper bootstrapping of the protocol. Read about them here and utilize them here.
We also launched the governance token PSDN. The initial supply of 20,000 PSDN (2% of the total) tokens was distributed through a 1% airdrop to New Order users (in proportion to their $NEWO) and a 1% airdrop to OCEAN holders that voted on snapshots in protocol proposals. The next three phases of this airdrop are planned for the coming months and will distribute another 2% of the total supply per phase. The requirements will be as follows:
1% of the total supply (per phase) to the holders of OCEAN who voted on Snapshot in the protocol proposals.
1% of the total supply (per phase) to the veNEWO stakers (coming soon) in proportion to their locked tokens.
OptyFi
April was an extraordinary month for OptyFi characterized by developments of the protocol in the Polygon ecosystem, where the first Vault with adapters for Aave, Curve, Beefy Finance, Sushiswap, Quickswap, and ApeSwap was deployed. Users will now enjoy excellent yields and pay low transaction costs. The Vault has already achieved a TVL of ~$350,000 from over 100 users who also share a $300 OPTY daily bonus. Users can only be included in the whitelist by being presented by one of our PowerYielder or SuperYielder.