►
From YouTube: DXD Token Working Group [2022-09-01]
Description
The audio and video from 22:33 - 32:13 was corrupted and therefore cut out.
B
Welcome
to
deep
style,
governance,
I'm
sorry
welcome
to
DX
DxD
token
working
group
kickoff
call.
So
this
is
an
initiative
by
DX
Dow
to
find
a
new
token
model
for
DxD.
This
is
the
first
call
and
first
call
that
will
happen
at
16
30
UTC.
Apologies
for
some
of
the
problems
in
the
email.
Invite
I
just
want
to
check,
because
I
just
see
a
note
that
the
meeting
is
wrong
from
Kenan.
C
D
E
B
Okay,
it's
like
they
split
up
the
DX
and
the
D
I'm,
not
sure
why
they
did
that
if
they're
used
to
the
DX
Dow
being
split
up
or
what
but
anyway
yeah.
So
this
is
an
initiative.
This
is
off
of
a
proposal
that
passed
earlier
this
week
to
gather
inputs
from
the
community
gather
dxc
holders,
We
Gather,
regular
Deep
South
contributors
to
try
to
figure
out
a
new
model
that
we
can
find
consensus
on
for
driving
DxD
forward.
B
I
did
want
to
just
see
if
there's
any,
if
anyone
wants
to
kind
of
intro
themselves,
so
I
know
there
are
a
lot
of
deaked
out
contributors
on
this
call.
But
there
are
a
couple
other
people
that
are
not
maybe
on
the
regular
calls
and
if
they
want
to
have
the
opportunity
to
answer
themselves,
feel
free
to
do
so
at
this
time.
A
F
To
be
part
of
you
know,
such
a
group
and
as
I
mentioned
in
the
keybase
group,
I've
contributed
previously
to
DF
Style,
with
Chris
doing
in
our
research
on
his
wrap
and
product
distribution.
Previously,
then,
I've
been
new
to
the
to
the
whole
space
like
a
year
or
two
years
ago,
then
I've
been
building
up
skills
and
you
know
experience
along
with
Chris
I've
been
helping
out
with
those
of
D5
and
I,
really
hope.
I
could
bring
some
value.
A
F
C
Awesome
and
Can
Can
You
Hear
Me
Chris,
yes,
I
can
Sam
hey,
so
I
just
wanted
to
introduce
myself
I'm
here
with
my
with
my
partner
Jordan.
We
we
are
the
founders
of
Alistair,
which
is
an
advisory
firm
for
web3,
so
we
work
with
Dao's
like
Lido
and
get
coin
to
Central
land
around
their
finance
and
strategy
and
tokenomics,
and
everything
in
that
realm
and
our
backgrounds
are
in
website.
D
C
C
Salmon
good
I'll
I'll
wrap
it,
so
our
backgrounds
were
in
web
2
investment
banking.
So
we
worked
with
technology
companies
like
slack
and
Salesforce,
LinkedIn
and
Microsoft
on
their
M
A
and
strategy,
and
we
built
the
firm
Alistair
to
take
that
experience
and
translate
it
into
web3
so
great
to
great
to
meet
you
all
and
looking
forward
to
working
with
you.
G
Yes,
well,
I
was
involved
in
the
DXE
token
developments
in
the
beginning,
I
was
invited
to
join
the
Exile
by
John.
We
have
John
Kia
too,
so
we
John
and
Geronimo
and
I
think
by
that
time
it
was
other
developer.
We
started
the
The
DMC
DxD
trust.
It
was
called
the
Arduino
I'm,
pretty
sure
that
we
are
going
to
be
reviewing
all
the
history
from
the
beginning
but
yeah.
That's
me
the
developer.
Behind
the
one
of
the
developers
behind
the
the
launch
of
the
the
exe
token.
B
Awesome
then
I,
guess
itamar.
If
you
want
to
introduce
yourself,
if
not
that's
kind
of
fine
inner
Mars
been
working
with
Canon
from
the
crypto
NYC
times
is
working
on
a
bunch
of
different
projects,
and
then
we
have
some
other
GT
holders,
spicy
soup
and
I.
Guess
zagu
I'm
not
sure
how
we're
actually
to
connect
pronounce
it
pronunciation.
Maybe
something
about
gold,
but
those
are
both.
Connor
and
spicy.
Super
zagu
and
spicy
soup
have
been
a
long
time,
not
just
dxt
holders
but
long
time.
B
B
Yeah,
okay,
cool
and
so
just
looking
at
the
agenda
here,
as
I
said,
we
just
did
a
little
welcome
and
intros
there's
and
then
we'll
go
through
and
I
think
how
we
got
here.
There's
Deek
style
and
DxD
the
bonding
curve,
the
Excel
products,
the
buyback
program,
then
looking
into
solution
requirements.
You
know
coming
up
with
a
new
model.
What
exactly
does
that
need
to
look
like?
B
So
how
we
got
here,
I
think,
there's
a
story
about
how
dxdao
got
here
and
then
there's
a
story
about
txt
that
got
here
and
as
Augusto
said,
you
know,
the
people
involved
with
both
of
these
are
are
on
this
call.
So
it's
kind
of
telling
a
history
of
some
that
some
may
not
be
familiar
with,
but
others
you
know
participated
in
so
I.
Think
there's
there's
two
separate
stories
here,
but
obviously
are
related
here.
B
That
would
then
be
picked
up
by
the
community
and
run
with
through
there.
So
the
key
thing
that
you
need
to
be
able
to
do
to
launch
a
dial
like
that,
though,
is
you
need
to
figure
out
how
to
distribute
governance
power
in
this
new
Dao
and
so
deke's
down
differed
from
it'll
differs
from
a
lot
of
dows.
Now
it
was
not
maybe
that
different
when
Zeke's
style
launched
in
2019,
but
it
uses
a
reputation-based
governance
system.
Reputation
is
non-transferable
so
in
launching
DX
style.
The
first
way.
The
first
item
is
well.
B
B
B
It
also
gave
500
000
rep
to
those
that
traded
on
the
Dutch
X
exchange
and
registered
MGM
Magnolia,
so
Dutch
X
exchange
was
a
product
from
gnosis
and
some
may
even
like
to
say
that
the
DX
comes
from
from
Dutch
X
and
then
the
last
way
to
earn
rep
in
the
initial
distribution
was
a
hundred
thousand
gen.
That
was
sorry.
A
hundred
thousand
rep
that
was
bought
with
Jen
and
Jen
is
the
native
token
for
Dallas
stack,
which
is
needed
to
run
holographic
consensus
for
DX
style.
B
So
this
is
the
initial
staking
period
in
2019
and
I
like
to
say
this
is
kind
of
like
an
Immaculate
Conception,
because
there
weren't
in
the
summer
of
2019
there
just
were
not
that
many
people
or
things
to
do
on
ethereum.
So
this
distribution
to
this
base
I
think
was
a
very
strong
base
to
allow
for
decentralization
of
dxtau
because
it
had
individual
stakeholders
from
you
know
around
the
world.
399
ethereum
addresses,
and
that
group
obviously
is-
is
those
that
are
already
interested
in
ethereum
interested
in
building
interest
in
decentralization.
B
So
from
that
point
in
in
summer
2019,
after
that,
after
the
Dow
launches
and
there's
some
governance
power,
nothing
much
happens
immediately
because
there's
not
really
much
going
on
there's,
not
anything
in
the
Dow,
but
some
of
the
community
members
as
I
said
something
that
are
on
this
call.
Take
this
as
an
opportunity,
say:
okay:
well,
what
can
we
do
to
bring
Deep
South
forward?
What
we
can
do
is
the
next
steps
and
the
next
steps.
There
really
is:
how
do
you
get?
How
do
you
build
products?
B
How
do
you
fund
products
and
for
that
you
need
something:
a
capital
raise
or
some
type
of
token
here.
So
that's
how
we
get
to
DxD
and,
as
a
Gusto
said,
this
should
give
him
memories.
So
this
is
DX
trust.
This
is
actually
still
live
on
on
now
you
can
go
dxtrust.eth
dot
limo,
but
this
was
the
launch
of
the
bonding
curve
and
actually
I,
don't
know
if
acousteo
or
John
want
to
maybe
give
and
any
insight
here
into
kind
of
how
the
bonding
curve
launches
is
May
of
2020.
G
Yeah
would
you
say
based
on
fairming,
which
was
a
company
that
the
design
it
and
they
were
unaware,
but
everybody
using
it.
We
didn't
have
like.
We
have
very
low
resources
right
John,
so
the
idea
was
to
use
something
that
was
audited
and
they
presented
us
as
an
opportunity
to
use
something
that
we
thought
was
going
to
fulfill
the
requirements
of
what
we
need
to
do
and
also
that
it
was
audited.
So
I
think
it
was
the
main
reason
why
we
choose
the
ferment
bonding
Curve,
Model.
B
And
the
way
that
it
works
right,
there's
this
you
deposit,
eth
and
that
mints
new
DxD
and
the
price
that
that
mints
new
XD
increases
linear
up.
So
you
can
see
like
on
this
like
chart
here.
This
I
think
is
at
1.02
e.
That
was
the
last
one,
but
it
actually
had
this
Kickstarter
period,
I'm,
not
sure
how
many
ethic
needed,
but
until
there
was
a
certain
amount
of
eth
deposited
those
that
deposited
the
eth
could
actually
get
it
back.
I
think
it
maybe
it's
a
couple
hundred
each
there
but
yeah.
B
B
Think
in
August
of
that
year
of
that
we'll
get
to
that
in
a
minute,
but
the
basic
idea
of
the
bonding
curve,
which
again,
is
still
the
DxD
token
contract
to
this
day,
like
if
you're
you
know
copying
if
you're
sending
DHD.
If
you
actually
go
to
the
Token
contract,
it's
the
bonding
curve
itself,
but
the
way
it
was
designed
was
you
would
always
it
would
be
the
market
price
for
DxD.
B
So
if
you
wanted
to
buy
DxD
you'd
want
to
Mint
DxD,
you
would
deposit
eth
into
the
bonding
curve
and
mint
it
at
whatever
the
Buy
price.
You
could
also
sell
DxD
or
burn
DxD
into
the
bonding
curve
and
take
eth
out
and
that
eth
in
the
bonding
curve
is
to
put
was,
is
or
was
supposed
to
come
from
revenue
from
DX
style
products.
So
you
can
see
right
here.
There
is
a
sell
price
of
0.0335
each.
So
even
right!
Now,
if
you
wanted
to
deposit
your
DxD,
you
could
get
one
dxt
for
0.0335.
G
G
This
is
something
very
I
think
this
is
something
very
important
to
understand.
All
of
us
in
this
in
this
working
group
The
the
huge
the
huge
importance
of
this,
because
you
see
this
here,
you
just
see
a
line,
but
the
bonding
curve
that
we
want
to
see
is
the
sale
price
right
I
mean
the
sale
price
was
going
to
be
it's
supposed
to
increase.
If
you
generate
revenue
from
the
money
that
you
are
raising
right,
the
Buy
price
was
always
going
to
it.
G
It
is
always
going
to
go
higher,
so
the
only
way
for
you
to
meet
more
DFC
is
by
generating
Revenue.
That's
the
only
way
that
you
have
to
meet
DFC.
This
is
why
well
I
always
look
I,
always
love.
This
bonding
cure
token
models,
because
they
force
strict
economic
rules
in
organizations
and
in
organizations
and
companies
to
grow
and
deliver
under
products
under
promises
to
their
stakeholders,
and
this
was
the
main
reason
why
we
choose
a
bonding
cure
model.
Iy
you,
you
shouldn't
trust,
disinter
quality
of
using
blockchain
right.
G
You
don't
want
to
trust
humans.
You
want
to
trust
call.
So
here
you
are
trusting
the
code
of
the
bonding,
which
again
the
bonding
cure
is
going
to
be
the
third
part.
That
is
that,
eventually,
if
you're
doing
a
good,
a
good
job,
you're
going
to
see
people
burning
and
buying
from
the
bonding
curve
and
if
you're,
having
Revenue
this
surprise
and
buy
price
are
going
to
increase,
we
are
going
to
see
a
cure
that
is
going
up
slowly,.
B
B
So
you
can
see
here
there
was
48
000
yeah,
976
txt
that
was
minted
off
of
the
curve,
but
that
there
was
actually
also
a
hundred
thousand
DxD
pre-mint
that
was
sent
to
DX
Dao
that
vested
over
three
years,
so
I
think
that's
yeah
about
70k
DX
DxD
is
in
dxdos
treasury
right
now,
and
that
is
on
top
of
the
48
976
dxt.
That
was
minted
from
the
bonding
curve
for
eight
deposits.
B
Yeah
and
as
as
Augusto
was
was
saying
in
terms
of
the
model
of
the
bonding
curve,
like
the
the
core
driver
of
that
is,
you
know,
deep
style
is
creating
products,
and
then
that
will
lead
to
revenue.
So
these
are
you
know
the
d-stop
products.
This
is
a
nice,
simple,
cutting
or
screenshot
from
our
website
that
had
this
very
nice
that
fit
in
here
but
yeah,
so
swapper
is
I,
guess
the
most
mature
product
of
geek
style.
B
B
You
can
use
nfts
or
an
erc20
token
as
a
form
of
collateral
and
use
that
as
a
way
to
incentivize.
Whatever
action
you
want
in
the
future,
Omen
is
a
decentralized
prediction.
Market.
This
was
a
big
product
for
for
Geek
style
early
on,
especially
during
the
bonding
curve.
Raise
prediction
markets
had
a
good
2020
in
terms
of
the
there
was
the
presidential
election
and
and
also
the
launch
of
the
E2
Beacon
chain.
B
This
is
defy
summer.
So
a
lot
of
activity.
This
comp
launches
the
first,
not
the
first
but
comp
launches
in
the
end
of
June
of
2020
and
that's
when
the
whole,
like
yield
farming
term
and
craze,
really
started
yfi
launched
in
the
end
of
July.
They
had
that
kind
of
two-week
period
where
you
could
mint
yeah,
like
the
fair
launch
of
yfi,
that
kind
of
crazy
curve
launch
that
was
supposedly
from
an
anonymous
developer.
B
That
was
in
early
August,
then,
and
then
of
course,
uniswap
and
Sushi
swap
was
in
I,
think
Sushi
swamp
I
think
was
at
the
end
of
August
2020
and
then
uniswap
launched
their
token
middle
of
September.
Obviously,
in
response
to
Sushi
swap
so
there's
a
lot
of
activity
going
around
in
the
summer
of
2020
in
geek
style
is
kind
of
in
in
the
middle
of
that,
and
because
it
had
like
a
team
that
had
helped
launch
the
bonding
curve
and
it
attracted
others.
It
was.
B
So
that's
25,
000
East
that
was
raised
mostly
over
the
summer
of
2020
and
as
this
chart
is
just
kind
of
trying
to
point
out
here.
The
price
of
eth
at
that
time
was
was,
was
pretty
low
and
I
think
this
428
is,
is
maybe
the
highest
of
the
eth
amount
that
it
raised.
A
lot
of
more
than
half
of
the
East
that
geeked
out
raised
was
actually
like
under
200
Keith
and
so
yeah
I.
B
Think
the
story
of
DxD
Dao
and
DX
DxD
over
this
time
period
is
in
a
lot
of
ways
almost
entirely
influenced
by
this
massive
bull
market
that
takes
off
and
the
rising
price
of
ethereum
over
this
time.
Right.
So
ethereum
really
starts
to
take
off
at
the
end
of
the
year
into
January
March,
and
may
you
can
kind
of
see
that
the
pricing
increases
there
DxD
in
the
2021
bull
market,
and
these
are
mostly
just
kind
of
my
my
thoughts
and
and
and.
B
Okay,
good
send
an
encryption
but
yeah
I
think
dxt
had
a
hype
phase,
as
I
was
just
kind
of
talking
about
that
was
in
D5
summer.
That
was
in
that
August
time
and
hype
is
really
needed
to
drive
interesting
capital
on
all
these
products.
Right
hype
needs
to
price
increase,
but
at
least
a
more
hike
that
leads
to
a
price
increase,
but
with
a
well-funded
treasury
to
build
products,
there
really
wasn't
any
need
to
do
any
hike
phase
for
DX
down
right
there.
B
You
do
the
hype
phase
to
get
funds
to
build
products
and
be
able
to
do
those
things,
but
instique
style
already
had
those
there
really
wasn't
a
lot
of
activity
in
terms
of
DxD
in
this
bull
market
and
during
this
time
there
wasn't
yet
really
any
Revenue
support
burning
DxD
on
the
bonding
curve.
So
as
as
a
Gusto
was
saying
that
that
sell
price
there
wasn't
enough
really
any
Revenue
coming
in
to
support
that
sell
price
and
there.
B
Yeah,
and
so
just
thinking
about
during
this
this
time
period,
I
think
you
can
see
here
the
there's
a
chart
of
yeah,
and
so
this
is
DHD
price
chart.
Over
this
time
period,
the
blue
is
DxD
USD
and
the
red
is
DxD
eth,
and
so
you
can
see
I
mean
DxD
of
this
time.
It's
hovering
around
200,
but
what's
happening
here.
Right
again
is
ethereum
is
just
exploding
in
price
here,
so
the
dexty
eth
is
really
dropping
a
lot
and
so
I
think
it
passes.
H
B
All
right,
so
it
is,
it
is
Sasa
carving
out
Runway
from
nav.
Pretty
much
admits
that
there
is
no
little
Prospect
of
future
return
from
it.
So
yeah
I
mean
I.
Think
that's
a
kind
of
question
in
terms
of
like
how
do
you
calculate
nav?
What
is
the
TR
I
mean
really.
The
question
for
a
lot
of
this
is
like
what
is
the
treasury's
relationship
with
dxt.
B
E
E
B
B
Cool
and
so
then
yeah
just
so
again,
that's
like
where
deaked
out
has
come
from
where
dxt
has
come
from
and
then
yeah
I
think.
The
question
is
kind
of
how
to
move
forward,
and
this
is
just
what
I
was
thinking
about.
You
know
we're
hoping
to
come
up
with
some
model.
That
is
that
exists,
and
the
question
is
like
what
does
that
model
need
to
have?
What
are
the
things
that
we
need
to
try
to
fit
into
that
model?
B
And
so
a
couple
things
I
I
wrote
down
here:
one
approved
by
dxt
holders
and
that's
pretty
obvious:
two
must
incorporate
governance
2.0
and
staking
DxD
in
governance.
So
I
think
this
is
a
pretty
big
one
in
the
sense
that
the
governance
2.0
design
that
we
have
includes
staking
DxD
or
staking
something
that
maybe
dxt
liquidity
providing
DxD.
Whatever
governance
has
staking
that
which
gives
you
additional
governance
power,
and
so
whatever
model
fits
into
this.
B
Presumably
it
will
be
more
about
fees
than
governance
power,
but
those
it
will
need
to
fit
into
I.
Think
the
structure
or
the
initial
structures
already
being
laid
out
by
like
governance,
2.0
three.
It
should
be
verifiable
and
automated,
so
this
is
I
think
is,
is
important
for
scaling
this
in
the
long
term.
If
you
look
at
the
buyback
program
of
the
last
year,
it
takes
an
awful
lot
of
operational
overhead.
Like
we
have
to
calculate
this
nav
thing
we
have
to
look
at
it.
Obviously
Dave.
B
Think
the
problem
to
me
at
least,
is
that's
a
very
capital
inefficiency
system,
because,
in
the
event
that
the
sell
price
on
the
bonding
curve
was
0.45
each
that
would
mean
there's
like
thousands
and
thousands
of
eth
in
the
bonding
curve.
That's
just
sitting
there
right
and
obviously
it
is
used
for
when
people
want
to
come
in
and
deposit
DxD
and
burn
it.
But
like
is
there
a
way
that
you
could
offer
that
in
an
automated
way
without
having
like
that
huge
chunk
of
of
eat?
B
B
Yeah
promotes
a
liquid
DC,
Market
I
think
this
is
kind
of
obvious.
This
has
got
to
be
a
huge
goal
and
I
think
a
really
shortcoming.
We
have
right
now
in
the
existing
Market
and
then
yeah
I
think
whatever
dxt
token
model
I
think
it's
incredibly
important
that
it
fulfills
the
the
mission
and
the
goals
of
DX
down,
which
is
like
to
enable
funding
and
building
of
sovereign
decentralized
products
and
infrastructure.
There
I
don't
know
if
anyone
had
any
thoughts
here
for
things
that
maybe
need
to
be
included.
B
B
Cool
and
then
just
some
like
broad
thoughts
and
ideas,
I
think
the
reason
that
I
wanted
or
I
kind
of
was
pushing
to
start.
This
group
is
because
is
I
think
that
there
is
a
model
that
deep
style
has
kind
of
been
moving
towards
over
the
last
year,
like
kind
of
led
by
the
BuyBacks,
but,
broadly
speaking,
I
do
not
think
BuyBacks
are
an
efficient
model
of
driving
value
to
token
holders.
I
think
that's
been
true
in
crypto.
B
If
you
look
at
like
maker,
yearn
Rook,
there's
a
whole
bunch
of
of
ones
that
have
used
this
as
a
model
and
it
really
hasn't
played
out
and
then
I
think.
The
same
thing
is
true
in
traditional
Finance
too.
Actually,
I
was
just
reading.
I
shared
a
a
link
yesterday
of
how
some
academic
study
about
how
share
BuyBacks
do
not
drive
as
much
value
as
even
like
dividends
themselves.
B
Likewise
I
think
direct
Redemption
from
the
treasury
is
costly,
I
think
direct
Redemption
basically
means
pegged
right,
and
if
you
have
a
pegged,
this
means
that
you're
going
to
spend
a
lot
of
effort
and
a
lot
of
capital
defending
that
Peg
itself.
So
whatever
you're
trying
to
do
as
a
system
I
think
not
having
where
you
have
some
direct
Redemption,
there
is
a
way
to
like
maintain
more
Capital
efficiency.
Is
there
any
way
that
you
and
then
I
guess
the
next
one?
B
Is
there
any
way
that
you
can
encourage,
like
long-term
holding
like
I'm,
just
saying
that
you
stake
for
three
months
and
then
you
get
eighty
percent
of
the
NAD
from
Geek
style
like
let's
say
you
want
to
exit
and
you
can
almost
like
pre-plan
your
exit
or
something
by
committing
to
a
longer
staking
period
and
then
like.
Lastly,
how
can
you
know
this
model
incentivize,
greater
ecosystem
activity
and
use
of
DX
style
products?
So,
of
course,
I
think
that's
things
like
DxD
liquidity.
E
Sasha
yeah
I
was
wondering
like,
since
you
guys
have
done
BuyBacks
a
few
times
based
on
your
slides.
Have
you
guys
seen
it
have
the
effect
that
you
expect
just
I'm
like
super
like
I
know,
you
said
like
BuyBacks,
even
in
the
traditional
Market,
don't
often
have
the
kind
of
effect
that
people
want,
but
I
feel
like
it's
even
more
nebulous
in
the
crypto
markets.
Yeah.
D
B
Pretty
nuts
that
I'm
sharing
here
so
I
guess
as
John
is
saying
in
there
like
the
answer
is
nope.
If
you
would
have
told
me
a
year
ago,
if
diet
spent
seven
and
a
half
million
dollars
buying
DxD,
would
that
like?
What
would
you
doubt?
What
would
DxD
be
trading
at
I
would
not
see,
say
what
it
is
now
I
think
it's
been
surprising
that
not
as
many
capital
providers,
there
are
some
ones
here
and
there's
several
ones
that
have
like
bought
into
this.
B
This
buyback
program,
I
think
it
has
been
very
honestly
I
think
it's
been
very
good
for
DX
Dao,
because
I
think
it's
been
a
very
efficient
use
of
the
capital
because
you
acquired
so
much
DxD
at
a
low
one,
but
I've
been
pretty
surprised
at
how
it
is
not
led
to
like
a
market
reaction
of
okay,
I'm
gonna
buy
into
this
this
buyback
and
that's
despite
really
yeah.
This
is
almost
eight
million
dollars
spent
on
that,
and
so
it's
like
30,
almost
like
almost
a
third
of
the
supply,
has
been
like
purchased.
B
I
think
it
would
have
been
different
spicy,
but
I
think
this
kind
of
gets
into,
like
you,
I
mean
there's
so
little
dxt
liquidity
right
now.
It
would
be
very
easy
to
push
the
price
up
to
a
certain
level
like
it
geeked
out
with
so
much
eth
right
now.
It
would
be,
but
I
think
what
happens
is
once
you
push
it
up
to
that
level.
J
Just
the
so
so
the
adtv.
What
I
get
your
point
about
the
slower
it
is,
the
the
cheaper
the
dial
can
buy
it,
but
at
the
same
time,
when
DxD
is
being
issues,
investing
consistently
you're
sort
of
like
you're
you're
pulling
against
a
weight
there
as
well,
because
the
slower
it
is,
the
more
DxD
is
going
to
be
issued
to
contributors
in
investing
and
and
therefore
like,
if
you're,
if
you're
too
slow,
then
then
you
have
to
at
least
catch
up
with
that
to
even
make
any
any
progress.
J
B
Yeah
and
that's
a
good
point,
so
there
is
some
dxt
issuance
it's
about
250
275,
maybe
around
there
dxt
a
month,
that's
being
issued
to
contributors
that
is
three-year
vesting,
with
the
one-year
release
three-year
investing
one-year
Cliff
and
so
yeah
you're,
basically
going
to
have
275
dxt,
that's
being
issued
by
dxtau
and
so
at
the
minimum.
You
have
to
at
least
have
purchase
more
above
that
and
I
think,
like
things,
definitely
float
a
little
bit
down
like
in
the
summer
and
kind
of
here,
and
there.
H
Maybe
some
of
the
fud
and
kind
of
like
skepticism
around
dxt
was
how
the
governance
was
structured
and
the
buyback,
in
my
mind,
was
like
a
clear
signal
that,
like
that,
you
know
that
the
governance
did
have
the
dxt
holders
in
mind
and
so
I
think
the
Hope
was
that
it
would
make
the
circulated
market
cap
greater
than
the
nav,
because
you
have
this
organization
and
products.
You
know
in
addition
to
the
treasury
and
so
I
think
in
that
sense
it
it's
sort
of
failed,
pretty
badly.
H
B
Not
gonna
say
the
first
part:
could
we
issue
a
uni
V3
LP
single-sided,
with
XE
from
a
certain
range,
wouldn't
that
help
capture
some
of
the
dumping
to
burn
those
tokens
I.
Think
that's
an
interesting
idea.
There's
actually
been
yeah.
There's
someone
recently
had
used
unspot
V3,
basically
to
do
a
sell
order
too.
We
don't
I,
think
the
Dow
itself
doesn't
have
that
ability
to
think
about.
B
D
B
Yeah,
these
are
some
interesting
ideas,
I
think
about
so
I
guess
these
are
about
like
purchasing
txt
and
like
what
is
the
most
efficient
way
to
do
that,
and
then
I
also
know
that
Dave
was
chatting
with
the
cow
swap
folks
about
maybe
seeing
if
they
can
integrate
with
them.
So
I
think
there
are
some
opportunities
more
for
optimizing.
The
efficiency
of
the
of
the
buyback
itself,
yeah.
B
Yeah-
and
we
could
do
that
even
for
the
next,
like
500k
we'd-
probably
think
we
could
put
that
in
the
proposal
itself,
but
the
there's
115
each
is
already
in
the
noses
protocol.
Relayer
V1
right
now,
so
I
could
take
that
out,
but
it'd
be
pretty
difficult
to
take
that
out,
but
maybe
for
the
next
500k
we
could
use
one
of
the
different
systems.
I
think
the
yeah
as
John
as
Dave
said.
There's.
Actually
a
lot
of
overhead
too,
for
We
have
basically
have
to
run
a
solver
for
notices.
B
F
B
Yeah
so
then
moving
just
like
looking
at
different
projects
and
models
right
so
I
think
when
we
think
of
the
buyback
model,
yearn
has
been
a
big
user
of
this
I
actually
think
the
camera,
what
they
do
at
one
point
they
had
used
gnosis
auction
to
do
it,
but
they've
bought
back
I
think
something
like
22
million
dollars
worth
of
Wi-Fi
over
the
last
couple
last
year
year
and
a
half
Temple
Dow.
This
is
actually
a
suggestion
by
Hedgehog.
B
They
have
a
token
and
a
big
treasury
too,
and
so
they
have
basically
like
a
a
system
for
purchasing
it.
If
the
token
drops
below
a
certain
amount
and
they're,
also
thinking
about
using
a
balancer
liquidity,
bootstrapping
pool
to
be
able
to
like
enforce
that
there
they
have
a
little
bit
more
centralization.
So
they're
able
to
like
execute
this
buyback
in
I
think
a
more
Capital
efficient
way,
but
maybe
one
to
think
about
Olympus.
B
Obviously,
a
very
controversial
launch
and
kind
of
beginning,
but
they
do
I,
think
have
an
interesting
way
of
how
the
treasury
impacts
with
the
price
of
own
and
they
actually
just
released
a
couple
weeks
ago,
like
a
not
just
a
new
token
model
like
a
whole
new
way
of
it,
interacting
with
them.
So
that
might
be
there
and
then
I
put
Nexus
Mutual
on
here
only
because
Nexus
Mutual
also
has
kind
of
like
a
lot
of
eth
in
their
Treasury
and
there's
just
a
lot
of
discussion
about
how
that
works.
B
They
also
have
a
bonding
of
pretty
novel
bonding
curve,
but
their
bonding
curve
is
also
backing
like
the
or
just
underwriting
the
insurance
policies
that
they're
doing
so
it's
a
little
bit
different
model
and
I.
Think
Dave
also
actually
also
struggled
with
like
what
is
the
token
value
accrual
method
there
and
probably
in
large
part,
do
because
they
had
raised
a
lot
of
this
ether.
B
Yeah
I
guess
like
spicy
food
I'm
like
I'm,
happy
to
have
this
conversation
about
the
average
daily
trading
volume.
I
guess
like
to
me,
I
think
the
buyback
model
that
Zeke
style
has
been
using
over
the
last
year
and
a
half
like
that
is
way
too
manual
and
requires
way
too
much
overhead
to
be
a
long-term
model,
and
so,
like
I,
think
what
you're
talking
about
here
is
like.
B
Well,
we
have
to
adjust
the
adtv
because
it's
not
like
achieving
like
the
model
that
we
want,
and
so
I
guess,
I'm
looking
for
a
little
bit
more
like
holistic,
like
how
do
we
drive
value
to
DxD,
even
if
we're
not
just
doing
these
BuyBacks
consistently
or
if
we're
doing
those
BuyBacks
like?
How
is
that
happening
in
an
automated
way
that
doesn't
require
as
much
like
overhead.
B
C
B
B
And
just
for
the
justification
originally
was
that's
the
same
standards
that
applies
to
a
company,
that's
buying
its
own
stock,
back
they're,
restricted
by
how
much
the
average
daily
trading
volume
is.
So
when
we
were
working
on
those
documents,
we
put
that
average
daily
trading
volume
in
there,
because
that's
like
best
practice
from
the
corporate
world.
K
K
B
I
mean
I
think
you
have
cash
Reserve,
because
when
you,
how
do
companies
get
excess
cash
would
be
I?
Guess
the
question
yeah
and
typically
you
wouldn't
have
excess
cash
like
without
Revenue,
as
a
public
company.
Essentially
like
you,
do
probably
see
this
a
lot
in
right.
This
is
pretty
standard
thing
if
you
raise
money
at
the
right
time
in
any
market
right,
if
you're.
B
B
D
B
And
just
in
kind
of
starting
to
close
out
here
we're
just
at
kind
of
the
12
30
time
here
and
so
just
kind
of
want
to
think
about
some
next
steps,
as
we've
kind
of
gone
over
some
of
the
history
and
like
the
current
stage,
so
I'll
have
a
follow-up
post
on
dial
talk
with
some
summary
and
maybe
some
suggested
reading.
There
were
a
couple
different
things:
I
was
looking
at
in
terms
of
token
models
there
and
then
we'll
look
to
do
this
same
meeting
in
two
weeks.
B
You
can
feel
free
to
shoot
them
my
way
and
we'll
try
to
get
something
in
them,
some
something
on
them
that
we
can
present
for
the
next
call
anyone
any
dying
projects
that
that
are
out
there
that
should
be
researched
or
have
really
good
models
or
someone.
That's
thinking
of
something
here
feel
free
to
say
now
or
later.
B
Yeah
Temple
Dow
is
like
I'm
just
discovering
that,
and
actually
they
just
had
a
Geeks
that
uses
hats
Finance
for
like
a
decentralized
bug,
Bounty
program
and
actually
so
just
Temple
Dao,
and
they
just
had
some
vulnerability.
That
was
reported
through
hats
like
last
week
too,
so
they
fixed
it
and
whatever.
But
I
had
not
heard
about
it
before
but
I.
J
They
they
also
build
build
products
as
well.
So
it's
it's
not
the
it's
not
a
perfect
match,
but
I'd
say
that
it's
fairly
fairly
similar
in
that
there's.
There's
this
treasury
and
also
yeah
the
the
treasury
is
being
used
to
pay
contributors
to
to
build
products,
but
maybe
flip
so
there's
a
little
bit
more
focus
on
the
treasury
rather
than
the
products,
whereas
over
here
it's
sort
of
flipped
the
other
way
around
but
I'd,
say
it's
in
a
lot
of
ways
fairly.
D
B
Interesting,
no
sorry,
space
I
wasn't
saying
that
it
was
more
weird,
also
interested
in
hats
too.
So
it
was
just
interesting
that
they
are
using
the
hats
and
actually
found
something
through
them,
but
yeah,
and
they
had
just
talked
about
I.
Think
they're.
Also
talking
about
switching
models,
this
balancer
liquidity,
bootstrapping
pool
model
Maybe.
B
So
in
two
weeks,
we'll
meet
again
go
over
the
different
projects
and
you
know
competitive
over
you
and
then
two
weeks
after
that,
hopefully
we
have
some
actual
beginnings
of
token
models
and
what
they
would
work
work
on,
and
then
many
geek
staff
contributors
and
hopefully
anyone
from
the
Excel
ecosystem
is
going
to
be
in
Bogota
in
Colombia
and
I.
Think
that
will
be
I
think
a
lot
of
contributors
to
be
for
like
almost
two
weeks,
and
so
there
would
be
a
big
contingent
down
there.
B
So
that'll
disrupt
some
things,
but
I
think
it's
also
a
really
good
time
for
the
contributors
for
some
people
to
meet
in
person.
Obviously
we'll
have
calls
with
everyone
too,
and
and
open
it
up
there,
but
that
will
be
kind
of
October
and
then
hopefully
out
of
that,
there's
there's
something
that
is
yeah.
We
kind
of
get
to
a
consensus
there
and
then
our
finalizing
on
these
calls
in
in
early
November.
B
So
that's
all
I
had
for
today.
I
wasn't
sure
if
there
were
questions,
comments,
suggestions,
I,
think,
last
time
I
had
we
did
the
dxt
sorry,
the
governance,
2.0
working
group.
We
had
set
up
a
like
notion
to
share
documents.
I
think
everything
I'm
going
to
try
to
do
is
just
through
the
Forum,
so
like
I
would
check
for
form.
That
would
be
like
the
central
place
for
videos
and
like
any
docs
or
conversation
just
so
we
can
have
that
open
for
other
people
to
participate
in,
but
yeah
any
other
thoughts,
parting
comments,
suggestions.