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From YouTube: DXdao | Introduction to DXdao
Description
Join John Kelleher of DXdao for a workshop titled "Introduction to DXdao" part of ETHOnline 2021, a month-long virtual hackathon with over 1,000 engineers, designers, and creators building new protocols, learning at summits and workshops, and gaining valuable feedback from ecosystem professionals along the way.
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A
There
was
an
initial
staking
period
as
it
was
called
where
people
could
lock
up
tokens
to
earn
initial
voting
power
in
the
dao.
The
voting
power
is
known
as
reputation,
it's
non-transferable
and
that
makes
textile
unique
compared
to
many
projects
and
that
yeah
the
voters
can't
sell
their
their
voting
power.
They
have
to
earn
it
through
making
contributions
to
dx
dao.
So
that
was
at
the
inception
and
then
the
the
next
step
that
was
important
for
dxtel
was
to
raise
capital
by
issuing
an
erc20
token
called
dxt.
A
No,
no
plans
to
monetize
those,
but
everything
that
dxdot
does
is
open
source
and
the
governance
is
very
key
aspect
of
of
what
dxdow
does
so,
but
I'll
start
with
the
the
product.
So
there's
a
prediction
market
platform
called
omen
and
there's
a
dex
called
swapper
and
there's
other
things
in
the
works.
But
the
only
two
that
are
live
right
now
are
swapper
and
omen.
So
I'll
start
with
swapper
swapper
is
a
dex.
A
That's
based
on
a
fork
of
unit
swap
v2
with
a
key
modification
to
the
smart
contracts
that
enables
the
dow
to
change
both
the
swap
fee.
On
individual
pairs
and
the
protocol
fee
across
the
board,
that
is
kind
of
fed
back
into
the
dow.
So
so
the
swap
fee
is
how
much
the
user
is
paying
to
the
liquidity
providers
and
then
the
protocol
fee
is
a
fraction
of
that
swap
fee,
and
the
protocol
fee
is
directed
back
to
dx
tao
and
in
this
in
the
near
future,
to
the
swapper
guild.
A
A
In
addition
to
that,
txt
has
also
developed
farming
contracts
and
it's
referred
to
diy
farming
or
do-it-yourself
farming,
and
we
call
it
diy
farming,
because
the
user
can
go
to
the
front
end
and
create
farming
campaigns.
With
a
few
clicks
of
a
button
on
the
smart
contract
level,
any
erc20
token
can
be
used
to
stake
and
any
erc20
token
can
be
used
as
the
reward
token.
What
is
exposed
in
the
ui
is
the
ability
to
use
swapper
liquidity
provider
tokens
as
the
stakeable
tokens
and
then
any
token
as
the
reward
token.
A
A
recent
development
with
swapper
is
the
launch
of
the
swapper
token
and
the
deployment
to
the
arbitrom
layer
2..
So
that
is
another
area
of
active
development
within
dx.
Dow
is
how
to
bridge
liquidity
across
chains.
How
to
make
that
easier
in
the
ui
yeah?
So,
in
addition,
there's
also
a
stats
website,
txtats.edu
that
exposes
information
about
the
trading
on
swapper,
so
yeah,
if
you're
looking
to
build
upon
swapper.
A
A
The
conditional
token
framework
is
very
flexible
and
powerful
and
allows
the
allows
you
to
create
conditions
which
have
any
number
of
outcomes
right.
So
you
can
ask
a
question:
who
will
be
the
president
and
you
could
have
outcomes
candidates,
a
b
c
d
and
and
using
that
basic
building
block?
You
can
then
actually
create
markets
around
that,
and
so
what
omen
does
is
it
supports
two
types
of
markets,
two
two
types
of
outcomes
and
then
creating
allows
markets
to
be
built
on
that.
A
A
First,
the
outcome
tokens
are
minted
from
the
conditional
token
framework
and
then
all
of
the
outcome
tokens
are
deposited
into
the
fixed
product
market
maker.
So
what
is
trading
on
the
fixed
product
market
maker
is
not
the
underlying
collateral
that
was
used
to
enter,
but
rather
the
outcome
tokens
which
are
either.
You
know
a
b
c
d
for
the
catechol,
categorical
markets
or
long
and
short
for
scalar
markets.
A
This
is
done
through
reality.eth,
which
acts
as
the
oracle,
so
reality.etha
operates
in
a
pretty
simple
way
of
anybody
can
come
and
stake
on
the
outcome.
So
if
you
think
the
answer
is
a
you
put
down
a
little
bit
of
stake,
saying
it
is
a
and
if
somebody
disagrees
with
that
answer,
they
can
come
and
stake
on,
say,
outcome
b
by
providing
an
increased
amount
of
stake,
and
this
game
could
continue
add
infinitum.
A
But
there
is
a
short,
a
circuit,
breaker
mechanism
for
that
oracle
answer,
because
if,
if
say,
people
feel
that
the
answer
is
trying
to
be
like
stolen
manipulated
by
a
whale,
you
can
actually
expend
a
certain
amount
of
capital
to
call
the
arbitrator.
So
it
will
kick
it
out
of
the
reality
system
into
the
arbitration
system
to
be
decided
once
and
for
all
by
the
arbitrator
itself.
Right
now,
the
arbitrator
is
either
dx
now
itself
and
through
the
governance,
the
voting
of
dx,
dow
or
using
claros
court.
A
So
the
claros
token
holders,
if
if
claros
was
used
as
the
arbitrator,
would
be
deciding
the
outcome
when
arbitrator
is
called
so
a
fairly
complex
system.
The
front
end
also
provides
some
additional
functionality,
including
the
ability
to
trade
into
different
collateral
tokens
such
as
like
die
into
c
die,
and
the
reason
to
do
that
is
to
have
an
interest
bearing
collateral
token,
so
that,
while
the
participants
are
in
these
prediction
markets,
their
capital
is
continuing
to
earn
money.
A
A
However,
deekstyle
has
this
issue
now,
where
txt
token
holders
have
no
say
in
governance,
so
there
are
plans
in
dxdow
to
develop
what
we
are
calling
governance
2.0,
which
will
come,
combine
both
dxd
and
rep
holders
into
having
the
governance
power
over
dxtau.
So
the
primitives
of
you
know
dxd
the
financial
token
and
reputation
the
one
earned
by
providing
contributions
to
doing
work
for
the
excel
will
remain
in
place.
A
A
So
in
one
way
you
could
think
of
this
as
different
personas
right.
It
would
support
a
speculator
or
investor
who
would
want
to
just
hold
the
financial
token.
It
could
support
a
worker
who
just
wants
to
get
their
reputation
and
have
recognition
for
their
work.
You
know
in
order
to
build
their
resume
credit
for
other
things
within
blockchain
and
also,
and
importantly,
it
would
support
a
persona
that
acts
as
governing
the
system
right.
A
That
is
the
the
core
idea
around
kubernetes
2.0
for
dx
style
itself.
That
is
actively
being
developed
for
the
future
right
now,
there's
the
existing
system
is,
is
based
on
the
dow
stack
smart
contracts,
which
uses
the
reputation
in
addition
to
that
core
governance
power.
There's
a
concept
in
from
the
dowstec
system,
known
as
holographic
consensus,
and
what
this
is
useful
for
is
providing
a
way
to
filter
votes
and
focus
voter
attention
on
on
issues
that
needs
their
attention.
A
So
what
holographic
consensus
allows
is
for
proposals
to
go
into
what
is
called
a
boosted
state,
and
so,
when
participants
up
up
stake,
they
provide
some
stake
onto
proposals
and
it
can
go
into
a
boosted
state
and
when,
in
a
boosted
state,
a
proposal
can
pass
with
only
a
relative
majority,
which
means
only
more
votes
for
it
than
against
it.
So
it
could
be
a
relatively
small
amount
of
total
voting
percentage.
A
But
as
long
as
more
is
in
favor,
a
boosted
proposal
can
pass
at
the
end
of
the
boosted
period,
and
so
this
enables
you
know
less.
You
know
controversial,
less
important
proposals
that
are
necessary
for
day-to-day
operations
to
get
passed
through
the
dow
without
consuming
the
entire
bandwidth
of
all
the
voter
participants.
A
A
In
addition
to
that,
I
mentioned
earlier
that
the
products
will
eventually
have
their
own
guilds
right,
which
will
be
their
own
governance
system
so
to
support
the
guilds.
Dx
down
has
also
developed
a
guild
governance
contracts
which
support
governance
by
erc
20
tokens
having
certain
quorum
thresholds
and
et
cetera,
but
that
system
is
a
little
simpler
and
does
not
include
holographic
consensus.
A
Doesn't
include
non-transferable
voting,
but
this
system
will
be
used
for
the
individual
product
governance
components
yeah,
and
with
that
I
think
I've
covered
the
key
live
elements
of
the
dx
style
ecosystem
that
could
provide
hackers,
like
yourself,
building
blocks
for
the
for
the
hackathon
and
there's
a
lot
of
cool
stuff
that
you
can
start
thinking
about
how
to
combine
these
products
into
each
other.
How
to
extend
them.
A
A
So
if
you
have
any
ideas
or
questions
about
this,
definitely
reach
out
to
any
of
the
dxdot
contributors
in
the
eth
global
discord,
and
hopefully
this
this
provides
you
with
some
food
for
thought
and
an
initial
idea
on
how
to
engage
with
the
dxtel
ecosystem
and
yeah
happy
to
answer
questions
myself
and
there's
several
other
contributors
on
on
the
discord.
So
I
hope
you
hope
you
found
that
informative
and
happy
hacking
and
good
luck.