►
From YouTube: DXgov Weekly Gathering [2023-02-22]
Description
00:03 Welcome and Agenda
00:33 Mainnet Roundup
08:11 Gnosis Chain Roundup
11:55 REP Sync CTA
17:38 Avantgarde-DXdao Treasury Proposal Presentation
B
A
B
To
geek
style
government's
discussion
for
Wednesday
February
22nd
1600
UTC,
look
at
the
agenda
first
yeah.
So
as
normal
we'll
go
over
the
proposal.
Roundup
first
and
then
we
have
discussion
items
just
want
to
kind
of
get
a
quick
temp
check
on
some
thoughts
on
rep
sinks
and
guilds,
and
maybe
some
calls
attention
on
those.
And
then
we
have
a
presentation
from
about
guard
on
dxdau
Treasury.
So
starting
first
with
the
proposal,
Roundup
there's
a
couple
ones
on
mainnet
here
you
can
see
the
three
ones.
B
The
first
one
is
a
Redemption
bouncer
proposal
number
two
from
Duty,
so
duties.
Actually
you
can
see
it's
a
number
two,
so
you've
done
one
previously.
This
is
180
DxD
and
posted
on
down
talk
here
in
terms
of
confirming
the
amounts
and
there
and
Candy
Fork
voted
for
this.
One
I
think
yesterday
there
so
that's
set
to
pass
in
a
day
and
a
half
and
just.
C
B
This
and
how
did
this
person?
How
did
this
entity
kind
of
get
DxD?
You
can
see
that
they've
basically
been
buying
DxD
as
it's
below
and
it
dips
below
the
70
as
it
on
chain
when
people
are
selling
it
and
then
later
kind
of
depositing
it
into
this
Redemption
balancer
program
here.
So
you
can
see.
There's
180
dxt
was
basically
acquired
over
10
12
days
before
depositing
it
into
da
style
and
then
submitting
the
proposal
for
that.
B
D
B
Said
you
can
see
the
duties
is
kind
of
doing
it
again
here
in
the
last
couple
days,
so
kind
of
turning
into
a
little
bit
of
a
market
maker
for
doing
style
there,
so
that
one
yeah
is
set
to
pass
in
a
day
and
a
half
there.
There
are
two
other
proposals
on
the
funding
and
voting
power
scheme.
Right
now
is
the
DS
gov
funding
new
scheme
redo.
B
B
Yet
I
talked
to
Ross
about
this
and
he
said
the
the
transaction
would
revert
if
you
did
so,
but
I
just
maybe
want
to
a
little
bit
investigate
that
myself.
But
I
don't
know
if
anyone
has
any
thoughts
on
the
the
scheme
reverting
there.
But
as
long
as
you
can
confirm
that
then
I
think
this
one's
good
to
vote
on
as
well.
B
E
B
B
Those
three
there
on
the
new
funding
and
voting
power
scheme
and
then
just
looking
at
the
multi-call
scheme.
So
these
are
a
couple
different
cow
swap
orders
also
for
the
new
token
dxt
models
that
these
this
would
submit
a
200
West
order
on
Cal
swap
for
DHD
at
the
0.4629
West
DxD
price.
This
is
the
one
that
is
the
latest
calculation
for
70
of
Treasury
nav.
B
This
is
was
submitted
by
candy
Fork,
but
this
should
be
hopefully
identical
to
the
one
that
just
passed
yesterday
that
d-labs
and
and
Dave
had
been
have
been
doing
there
and
that
was
I.
Think
a
pretty
successful
see
if
we
can
look
at
that.
I
think
that
was
a
pretty
successful
trade.
You
can
see
that
here.
So
this
is,
it
was
a
400
West
order,
I
think
at
0.457
or
0.5,
maybe
0.46
and
yeah.
B
E
B
Certain
amount
so
in
this
case
200
West
and
then
the
second
call
is
actually
signing
this
specific
order.
So
this
order
was
already
created
right
here
and
it's
filling
yeah,
so
it
would
be
signing
this
order.
This
is
from
gxtau
here
and
so
that's
what
this
proposal
is
and
then
there
was
another
proposal
submitted
yesterday.
Actually
two
one
is
identical
to
the
previous
one,
except
for
it's
a
slightly
different
price.
C
B
B
It's
like
a
liquidity
role
or
like
a
buyer,
I'm,
not
sure
how
they
have.
They
have
different
like
actions,
actors
in
the
ecosystem,
so
right
now,
Deek
style
basically
can
only
place
limit
orders
that
are
that
are
partially
fillable.
So
that's
good,
because
that's
why
we
can
do
this,
this
big
one
for
200
West
and
then
that
will
sit
on
there
and
anyone
can
kind
of
come
in
there
and
fill
it.
B
Of
course,
you
do
have
to
actually
place
a
limit
order
for
that,
but
the
problem
with
that
is
that
those
orders
don't
tap
into
the
existing
on-chain
liquidity.
So
when
these
trades
were
going
right
here
like
this
is
the
first
one
for
49.
You
know
50
dxt,
the
dstyle
acquired
at
whatever
4.457
West
that
could
have
been
acquired,
probably
at
0.43
worth
of
0.44
with,
because
that's
actually
what
was
trading
on
chain
at
the
time
but
deeked
out
when
it
places
these
limit
orders.
B
B
Was
trying
to
do
with
this
proposal
was
to
tap
into
the
on-chain
liquidity
by
first
doing
like
a
smaller
USD
one
and
I
was
thinking
it
would
be
a
cell
liquidity
order.
But
as
Dave
informed
me,
when
we
were
chatting
next
week,
it's
actually
no
no
longer
because
geek
style
switched
roles
in
the
Cal
swap
protocol.
It
cannot
do
the
normal
Market
execution
orders
that
are
that
are
filler
kill.
So
this
will
not.
This
will
not
tap
the
Unchained
liquidity,
but
it
will
be
an
order
for
LUSD
for
for
DxD.
B
It
would
be
available
on
Cal
protocol,
then
so
yeah
I
think
we
can
figure
out
whether
this
should
be
downstate
or
voted
up.
I
think
Dave
and
I
were
talking.
That
should
probably
still
go,
because
it's
good
to
have
some
dollar
stablecoin
orders
on
on
Cal
swap
here,
but
anyway,
I
don't
know
if
there's
any
questions
or
thoughts
on
that
a
little
in
the
weeds.
B
Cool
and
then
switching
over
two
nurses
chain,
less
and
less
proposals
here,
of
course,
is
like
working
proposals.
I'm
not
here,
I
thought
I
executed
these,
but
I
need
to.
So
we
have.
These
two
orders
are
yeah,
so
three
proposals
here,
these
DxD
liquidity,
send
web
and
the
ethixty
liquidity
send
dxt
are
part
of
the
are
part
of
the
desire
to
provision
liquidity
on
swapper
and
DxD
West.
B
So
there's
you
need
to
have
funding
proposals
that
actually
what
they
do
here
is
they
send
the
weft
to
the
the
swapper
relayer,
and
so
that's
what
both
of
these
do.
This
one
sends
weft
and
the
other
one
sends
DxD
and
then
a
separate
proposal
that
is
actually
just
executed
or
yeah
I
think
just
finished
would
actually
deposit
those
there.
B
So
I
think
I'll
do
this
a
little
after
the
call
here,
but
this
is
a
small
amount
just
to
get
some
additional
liquidity
on
on
gnosis
chain
here,
I
think
it's!
The
pool
is
very
small.
Now
it's
only
like
35
K,
so
these
proposals
would
inch
that
up
a
little
bit
in
line
with
what
was
outlined
in
the
new
TC
token
model.
From
last
month
or
two
months
ago,.
B
Cool
and
then
there's
another
d-labs
rep
sync
something
I'm
also
planning
to
do
today
right.
So
the
way
that
we
that
works
here
is
like
reputation,
flows
Downstream
from
mainnet,
so
you
can
claim
mainnet
rep
on
gnosis
chain
here,
so
for
those
of
us
that
have
done
repsyncs
on
mainnet
for
the
last
a
little
bit.
B
That
actually
means
the
balances
off
on
nurses
chain
there
so,
and
especially
because
we're
using
goes
to
chain
for
some
signaling
purposes,
it's
good
to
make
sure
that
we
have
tidy
rep
there
and
then
yeah
there's
another
one
that
funding
remainder
here.
That
needs
to
be
boosted
here.
That's
just
anyone
doing
that
transaction
and
the
same
thing
here.
This
is
like
a
new
proposal
resubmitted
because
we
didn't
have
enough
WX
die
in
the
base
on
the
xdi
and
we're
running
into
we're
running
into
issue
there.
B
But
here
we
have
the
WX
die
there
in
the
base,
and
so
this
proposal
will
yeah
go
through
here
and
then
I
think.
That's
it
for
nurses
chain,
not
too
much
activity
there
and
then
yeah.
The
one
other
thing
I
wanted
to
touch
on
and
I.
Don't
think
we
actually
have
a
live
proposal
but
I
know
venky.
You
were
trying
to
do
the
swapper
fee
change
on
Arboretum,
but
I.
Don't
think
that
is.
B
Yeah
I'll,
look
at
this
too.
I
have
not
done
this
a
little
bit
I'm
just
pulling
it
up
here,
it
looks
like
I
can
access
it
on
arbitrum
here
but
anyway.
This
is
the
snapshot,
vote
the
pass
to
change
the
swapper
fee
for
swapper,
and
then
we
actually
just
need
to
execute
it.
The
only
way
you
can
execute
that
on
Arboretum
is
through
the
the
DX
down
base
there,
because
that's
the
owner
of
the
the
swapper
fee,
Center
contract
there,
so
yeah
we'll
need
to
figure.
C
E
A
B
E
B
Is
chain
one?
It's
also
good
to
make
sure
you're
doing
your
rep
things
back
to
nurses
chain,
because
there
is
some
signaling
going
on
there.
So
that's
kind
of
like
the
immediate
call
to
attention
and
then
there's
kind
of
two
other
medium
term.
Things
to
to
think
about.
One
is
from
a
technical
level.
Doing
multiple
rep
mints
right
now
is
very
difficult.
So
that's
why
we
have
to
have
these
single
proposals
that
that
will
do
that,
but
we
do
have
that
coming
with
or
that
capability
coming
with
the
governance,
1.5
contracts.
B
That
I
think
are
the
last
stages
of
the
audit
kind
of
famous
famous
last
words,
but
but
will
be
able
to
do
a
lot
more
interesting
things
with
multiple
rep
mints.
This
is
actually
a
know-how.
Dx
gov
has
been
doing
their
repins
on
their
own
Guild
that
it's
just
like
a
single
proposal
that
would
execute
a
bunch
of
those,
so
that
would
be
a
good
way
of
doing
that,
I
think
on
a
medium
term,
so
we
have
like
a
quarterly
one.
B
That
does
that
and
then
the
other
item,
to
think
about
going
forward
with
reputation
and
how
it's
earned
is
you
know
for
I
guess
really.
It
started
in
September
2020,
probably
with
the
passing
of
the
first
I.
Think
the
second
worker
compensation
guidelines
that
this
very
clear,
0.1667
percent
for
full-time
contribution
was
for
any
contributor
was
kind
of
outlined,
and
that
has
really
been
the
basis
for
98
of
the
rep
distribution.
Since
since
Genesis
and
that's
been
very.
B
Other
you
know,
dxt
holders,
specifically
for
doing
things
being
more
active
in
reputation
issuance
and
I
also
think
specifically
giving
reputation
to
guilds
themselves
to
be
able
to
have
reputation
in
DX
style
as
a
way
to
participate,
and
you
could
think
about
that.
As
you
know,
in
prior
to
this
year
you
know
it
was
individual
contributors
who
were
getting
paid
for
Geek
style.
B
This
kind
of
yet
but
I
think
in
this
switch
for
to
Guild
it's
an
opportunity
to
maybe
rethink
that
and
I
also
think,
like
very
crucially
try
to
figure
out
how
to
expand
rep
distribution
besides
just
full-time
contributors
and
figuring
out
how
to
bring
in
other
stakeholders.
They
won't
be
voting
all
the
time,
but
are
I
think
made
a
lot
of
positive
contributions.
We
have
the
rep
Bruce
program,
but
I
think
we
can
do
a
lot
more
to
distribute
rep
more
widely.
C
B
B
E
E
D
E
D
E
I
want
to
talk
a
little
bit
about
the
tech
that
we're
proposing
to
use,
and
then
I
want
to
talk
a
little
bit
about
the
biz
Dev
contributions
that
we'd
like
to
make
alongside
the
treasury
management
mandate.
But
before
I
begin
I'll,
just
tell
you
a
little
bit
about
ourselves.
This
slide
is
actually
just
the
investment
team
on
at
evanguard,
so
our
DNA,
as
you
might
know,
is
in
software
engineering
and
we're
a
team
of
20
people.
E
So
this
is
really
synergistic
when
we
happen
to
be
working
with
projects,
because
we
can
tap
into
that
Talent.
But
on
the
investment
side,
it's
the
three
of
us.
So
for
those
of
you
me
I
founded
what
was
known
as
melon
protocol
back
in
2016.,
it
was
the
first
decentralized
Asset
Management
protocol
on
ethereum.
It's
been
going
now.
E
So
we
have
been
doing
that
ever
since
and
in
a
past
life,
I
managed
money
for
Goldman
for
nearly
a
decade
and
I
was
a
fund
manager
for
about
four
years
at
one
of
the
large
European
hedge
funds,
Aaron,
actually
heads
up
our
asset
management,
Division
and
he's
just
jumped
onto
the
call.
He
has
a
strong
background
in
web3
engineering
and
defy,
but
formerly
he
was
also
in
Trad
fire
with
a
strong
options.
Background
and
Carlos
is
a
senior
very
experienced
smart
contract
developer.
E
Who's
worked
for
us
for
several
years
and
formerly
at
consensus,
but
Carlos's
kind
of
passion
is
actually
defy,
so
we've
kind
of
borrowed
him
or
not
even
borrowed
him.
We've
moved
him
over
to
the
investment
team.
So
so
that's
us
avant-garde.
Finance,
you
know
by
background
is:
was
pure.
History
historically
was
purely
software
development
company,
but
last
year
we
follow
the
Natural
Evolution
to
become
an
asset
management
company
too,
and
currently
we're
looking
after
about
30
million
dollars
in
assets
under
management,
with
our
largest
client
being
Nexus
Mutual.
E
So
now
you
know
a
little
bit
about
who
we
are.
Let's
move
on
to
the
proposed
investment
strategy.
The
idea
here
was
that
we
we've
observed
that
the
Dao
is
quite
long
East.
We
love
that.
We
think
this
is
a
great
level
to
be
buying
into
eth,
and
we
really
feel
that
the
market
has
bottomed
here,
so
we're
proposing
to
actually
keep
a
strategy
that
is
always
directionally
long
Eve
and
the
strategy
would
have
two
goals.
E
So
in
terms
of
how
we
execute
this
strategy,
we're
proposing
to
do
it
on
enzyme,
we
firmly
believe
that
this
is
the
tool
to
use,
because
it's
a
purpose-built
asset
management
protocol
which
is
trustless,
non-custodial
and
transparent,
and
we
think
these
values
align
with
DX
Dao.
But
in
particular
there
are
two
really
strong
value
propositions
which
I
think
you
get
on
enzyme
that
you
don't
get
anywhere
else.
So
I'm
going
to
focus
a
little
bit
on
those
two.
The
first
is
trustless
investing.
E
So
what
that
means
is
the
enzyme
Dao
manage
a
list
of
Assets
in
a
list
of
D5
protocols
and
every
time
we
integrate,
for
example,
a
D5
protocol.
The
first
thing
our
engineering
team
does
is
consider
all
the
different
ways
that
a
manager
might
be
able
to
misappropriate
funds
from
a
vault,
whether
that's
using
a
flash
loan
attack,
whether
that's
selling
an
asset
to
themselves
at
zero
price.
E
Whether
that's
you
know
all
the
different
kind
of
various
hacks
we've
seen
in
D5,
we
make
a
list
of
all
of
those
attack
vectors
and
then
we
build
protections
against
those.
Most
of
those
protections
are
typically
smart
contract
enforced
protections.
We
then
get
those
audited
and
then
the
audits
are
published
publicly
and
we
typically
document
the
the
various
kind
of
attack,
vectors
and
protections
in
our
documentation.
E
By
contrast,
what
enzyme
does
is
we
leverage
all
the
web
3
technology
we
possibly
can
to
provide
trustless
to
reporting,
so
you
don't
actually
need
to
trust
any
human
being
to
get
the
reports,
and
we
can
do
this
because
enzyme
is
underpinned
by
subgraph
technology.
So
we
have
seven
graphs
that
underpin
enzyme
and
they
basically
index
all
the
data
that
is
transacted
within
the
Vault
and
translate
them
into
human,
readable
language
which
is
displayed
on
a
nice,
user-friendly
user
interface.
E
E
What
p
l
was
what
trading
activity
happened,
what
impermanent
loss
was
and
so
on
and
so
forth,
and
we
make
this
really
easy
to
use
through
our
interface
and
a
cool
thing
is
that
the
the
interface
is
also
white,
like
we
have
a
white
label
version
of
it.
So
what
we
do
if
we
were
to
use
this
for
DX
dial,
would
be
we'd,
we'd
kind
of
white
label,
a
version
of
this
interface,
specifically
for
the
DX
Dao
Community,
with
all
the
DXL
branding,
Etc,
so
cool.
So
we've
talked
about
the
investment
strategy.
E
So
yeah,
that's
pretty
much.
It
I
mean
I
have
a
little
summary
slide,
but
I've
said
it
all.
So
there's
no
point
in
repeating
it.
I
know
there
are
a
lot
of
questions
on
the
Forum,
so
I
don't
know
if
people
want
to
jump
in
and
ask
questions
or
if,
if
we
just
go
to
those
straight
away,
I'll
take
your
lead
Chris.
B
A
A
Don't
know
your
avant-garde
website
and
like
the
dials
you
manage
and
I
was
I
saw
like
they're,
mostly
just
holding
like
stake
e
for,
like
sitting
idle
on,
like
usdc
I'm
like
wondering
what
kind
of
like
strategy
you
foresee
for,
like
the
DXL
or
like
kind
of
like
how
you
manage
these
vaults
is
like
a
more
active
management
to
do,
or
you
kind
of
like
take
more
long-term
debt.
So
is
it
like
dependent
on
the
customer?
You
work
for
I'm,
just
curious
about
that.
Yeah.
E
E
But
in
the
case
of
dxdo,
I
think
what
we're
proposing
is
is
actually
is
to
build
a
diversified
portfolio
initially
of
four
liquid
staking
positions,
pre-shanghai
fork
and
then
after
that
upping
the
number
of
positions
to
10.
But
the
idea
would
be
that
Aaron
and
Carlos
have
been
doing
a
lot
of
research
on
how
to
build
a
portfolio
that
is
completely
diverse
or
as
Diversified
as
possible
in
terms
of
regional
risk
for
stakers
and
also
operational
risk,
because
we
want
to,
we
want
to
be
able
to
provide.
E
You
know,
contribute
towards
the
decentralization
of
the
ethereum
network,
but
also
be
able
to
protect
against
slashing
wish.
So
there
is
I
wouldn't
say
that
it's
super
active,
but
it
would
say
that
there's
a
lot
of
research
and
monitoring
required
to
be
able
to
stay
on
top
of
that
and
then
additionally,
we'd
be
trying
to
enhance
the
yield
with
D5
composability,
where
possible.
But
in
a
very
risk
managed
approach,
we
wouldn't
want
more
than
a
certain
amount
of
exposure
to
any
one
T5
protocol.
In
case
there
was
a
problem
with
that
D5
protocol.
E
But
yeah
I
mean
it's
hard
to
put
a
feel
that
when
we
don't
know
what
numbers
we're
talking
about,
you
know
like.
If
it's
a
you
know
it
has,
it
has
to
kind
of
make
sense
for
us
we're
dedicating
proper
resources.
We
plan
to
dedicate
proper
resources
to
this
and
there's
a
cost
involved
in
that,
and
you
know
we're
we're
basically
open
to
discussion.
E
You
know
it's
really
hard
to
price
it
until
we
know
what
kind
of
size
mandate
you
guys
are
are
looking
to
kind
of
part
with
you
know
in
terms
of
management,
but
we're
we're
open-minded
we're
flexible.
We
want
to
be
you
know
we
want
to
be
a
you
know.
We
you
know
we
want
to
do
this
with
you
guys
and
I
guess.
I
guess,
one
way
to
look
at
it
is
to
say
okay
for
the
eighth
portion
of
the
portfolio.
E
You
know
I
I
guess
like
that
the
number
I
had
in
mind
as
a
minimum
was
10
million
for
this
15
performance
fee
and
then
all
the
other
pieces
of
work
that
we
we
presented.
You
know
whether
that's
like
making
Davi,
interoperable
or
I
think
there
was
I.
I
vaguely
saw
something
on
the
Forum
about
whether
we
could
do
Dao
reporting
in
general,
not
just
for
the
treasury.
C
C
B
Obviously,
on
Main
net,
that's
where
most
of
the
funds
are,
but
about
swapper's
biggest
Market
is
on
gnosis
chain.
Now,
there's
about
nine
million
dollars
of
total,
equivalent
liquidity
there
and
about
four
and
a
half
million
of
that
is
D
extas
and
then
DXL
is
also
an
arbitrum.
So
how
are
you
guys?
Maybe
thinking
about
that
and
yeah
the
cross
chain
I
feel
like
crushing
ass
and
management
too.
Maybe
that's
like
the
next.
E
D
B
So
we're
and
I
don't
want
to
speak
for
the
smart
contract
team,
because
it's
very
very
early
doors
in
terms
of
our
Research
into
this
and
I
think
like
it's
a
complex
problem
to
solve,
but
I
think
that
we
are
much
closer
than
we
were
a
year
ago
to
being
able
to
actually
have
sort
of
One,
Main,
bolt-on,
ethereum
and
child
vaults
on
subsequent
chains.
That
can
kind
of
all
report
back
up
to
the
same
p.
L
so.
D
B
Super
exciting
we're,
like
I,
said
early
stages
of
research
into
how
exactly
that
might
work
and
there's
you
know.
Luckily,
some
there's
a
big
unit
swap
vote
a
couple
weeks
ago,
that
sort
of
made
this
cross-chain
messaging
topic
top
of
mind
for
a
lot
of
people,
so
we're
hopefully
weighing
in
there
as
well,
but.
B
E
Others,
it
could
also
look
like
a.
We
could
just
deploy
an
instance
of
enzyme
to
hypnosis
chain,
but
yeah
I
mean
that's
again,
that's
something
that
the
council
would
have
to
approve,
but
it's
not
something.
That's
very
difficult
to
do.
Like
I
said
we're
already
on
polygon
so
or
like
Aaron
said
we're
already
on
polygon
and.
B
It's
so
I
think
there's
a
world
where,
where
we
take
both
paths
but
for
me,
I
think
the
more
or
you
know,
I
think
it's
more
interesting
to
kind
of
roll
all
like
child
pianos
up
into
one
one
ball,
so,
which
is
also
a
harder
technical
problem
to
solve
as
well
so
we're
kind
of
pursuing
both
things.
At
the
same
time,
you
know
it's
kind
of
like
whether
cross
messaging
becomes
like
good
and
adopted
quick
enough
before,
like.
B
Like
develop
enough
where
it's
like
well
I
just
got
to
be
there
and
be
on
that,
but
yeah
it
does
I
think
the
Unison
vote
is
definitely
like
a
a
big,
maybe
indicator
on
where
things
are
going.
There
maybe
set
the
standard
too
for
those
yeah.
Hopefully.
So
there
are
a
couple
other
questions,
reading
from
zag
zahu
Connor:
what's
your
status
for
dxc
redemptions
and
having
fun
to
Noble
to
meet
them
in
time,
what
happens
to
Performance
fee?
B
If
amount
starts
above
10
million
and
then
dxt
gets
redeemed
below
10
million
managers,
so
just
maybe
for
I,
don't
know
if
you
can
answer
that,
but
I
can
explain
maybe
how
the
system
yeah
I
wanted
to
go
at
it
and
I
can
answer
any
questions
about.
You
may
not
understand
that
yeah,
so
I
think
I
get
it
directionally.
You
can
redeem
DxD
for
treasury
about
or
for
its
value,
like
its
current
nav,
essentially.
A
B
And
like
the
DXL,
like
sets
kind
of
policies
on
like
how
that
70
is
calculated
right,
so
Ethan
stable
coins
are
kind
of
at
that.
That,
and
so
this
is
like
just
a
new
policy
new
program
that
was
enacted
in
started
in
December
and
so
basically
like
there's
a
commitment
by
the
Dow
to
buy
DxD
at
70
of
d
of
Treasury
interview.
E
B
B
Is
like
kind
of
all
part?
Yes,
the
two
ways
being
forces
now
is
this
thing
called
member
balancer,
redemptions
and
maybe
I'll
just
share
my
screen
here,
because
this
is
a
basically
the
idea
being
that
you
can
submit
a
proposal
to
redeem
a
certain
amount
of
DxD
once
you
have
deposited
that
txt
in
the
treasury.
B
B
B
Question
for
maybe
how
to
build
something
that
accomplishes
a
goal
rather
than
like
it's
something
specific
for
that
yeah,
absolutely
so
the
I
mean
I,
think,
there's
and
by
the
way,
we're
decentralization
maximalists
as
well.
I
I
noticed
he
smiled
when
I
said
multi-sig.
So
I
was
glad
to
see
that
you
know
we
can
control.
D
B
We
can
so
investing
to
and
redeeming
from
an
enzyme
ball.
This
is
just
a
smart
contract
call
right,
you're,
swapping
whether
it's
underlying
assets,
so,
let's
say
eth-
for
share
tokens
on
the
on
the
deposit
side
and
then
share
tokens
for
eth
on
the
Redemption
side
and
the
amount
of
share
tokens
that
you
get
per
each
or
vice
versa,
is
determined
by
the
share
price
of
the
vault,
which
all
rolls
up
to
what
the
ball's
holding
what
the
value
of
those
whole
things
are
based
on.
The
chain
link
price
feeds
Etc.
B
So
you
know
without
having
done
a
dive
into
how
the
this
Redemption
the
the
DxD
Redemption
mechanism
Works
it
is,
it
does
seem
like
it
could
be.
Composable
with
the
you
know.
The
deposit
and
Redemption
flows
and
function
calls
on
an
enzyme
Vault.
So
you
know
I,
don't
think
I
would
have
to
plan
sort
of
around
liquidity
requirements,
because
if
we're
staking
things
in
validators
like
we'll
have
to
manage
the
withdrawal,
queue
and
and
that
sort
of
thing
but
I
think
that's
more
of
an
interesting
problem
to
solve.
B
E
What
a
sorry
just
a
thought
on
the
on
the
truck
but
like
if
you
know,
if
somebody
wanted
to
call
a
Redemption
on
the
dxt
side,
they
could
just
get
their
enzyme
involved
tokens
and
then
wait
until
the
liquidity
period
had
passed
and
then
redeem
for
the
underlying
asset.
So
in
essence
they
would
have
custody
of
the
assets,
but
they
just
wouldn't
have
the
liquidity
straight
up.
E
Yeah
and
on
the
interoperability
side,
by
the
way,
one
of
the
reasons
Nexus
mutual
and
unslash
finance
chose
to
integrate
with
enzyme
is
because
of
this
whole
value
interpreter
idea,
because
it
is,
it
does
make
it
so.
The
enzyme
Bowl
chairs
are
composable
with
their
protocols
because
of
this
knowledge,
Unchained
knowledge
of
price.
B
D
B
There
have
to
be
coordination,
we'd
have
to
figure
out
a
way
to
know
when
we
need
to
spin
down
a
certain
amount
of
validators
or
when
you
need,
when
you
need
ease
for
various
liquidity
requirements.
I
think
that
that's
just
like
you
know
a
way
of
working
that
we
need
to
iron
out
in
terms
of
communication.
B
B
B
E
Mean
yeah
if
I
guess
like
just
to
caveat
this
was
like
if,
if
24
is
liquid,
if
24
7
liquidity
is
a
requirement
for
DX
style,
we
can
build
a
strategy
around
that.
That's
not
a
problem,
but
if
it's
just
important
to
be
able
to
have
custody
of
the
assets,
then-
and
you
know-
that's
doable
with
the
enzyme-
bold
wrapper
share-
then
we
then,
then
we
can
devise
a
way
around
that.
If
you,
if
you
know
what
I
mean
our
our
initial
thought,
we
didn't
realize
the
the
liquidity
it
you
know
was
a
pre-requirement.
E
Our
initial
thought
was
to
try
and
get
up
to
10
positions
after
the
Shanghai
Fork,
so
that
we're
diversifying
liquidity-
and
you
know,
sorry
diversifying
risk
and
contributing
to
more
network
security.
But
if
you
guys
would
prefer
a
24
7
kind
of
you
know
redeemable
strategy,
we
can
work
around
that
yeah.
B
I
mean
give
me
a
point
and
a
question
I
think
to
your
point
about
24
7
liquidity.
So
this
is
obviously
a
core
governance
question
right.
Do
you
want
to
have
instant
liquidity,
which
means
you're
going
to
be
sacrificing
yield
right
and
you
can
imagine
there
are
certain
stakeholders
in
the
ecosystem
and.
B
I
guess
just
in
general,
on
the
24
7
liquidity
thing
like
that
is
a
question
for
governance,
to
figure
out
how
much
they
want
to
be
able
to
honor
that
versus
how
much
is
important
to
get
some
yield
and-
and
that
and
that's
like
a
you
know,
there
will
be
need
to
be
some
kind
of
agreement
on
that.
We
kind
of
have
different
things
here
and.
C
B
D
B
So
Kiln
is
basically
the
front
end
or
the
sort
of
the
Vault
facing
contract,
and
then
we
can
allocate
beef
to
various
validator
service
providers
Kiln
being
the
first
one,
but
also
consensus,
coinbase
cloud
and
their
onboarding
I
think
I,
like
I,
think
they're
trying
to
onboard
two
or
three
validated
providers
a
month,
so
yeah
the
portfolio.
You
know
as
we
had
it
imagined
would
be
split
between
these
liquid
staking
so
Widow
rocket
pool
statewise
on
one
side
of
things,
but
also
depositing
directly
to
service
providers.
On
the
other
side
of.
B
E
B
D
B
Meeting
or
an
internal
investment
committee
for
this
Fund
in
particular,
but
all
sort
of
products
run
through
a
similar
strategy
whereby
we
do
research
into
it,
an
individual
token,
where
we've
sort
of
we
dive
deeply
into
the
mechanisms.
In
the
case
of
the
liquids
taking
tokens,
you
know,
the
three
sort
of
headline
mechanisms
are:
how
does
it
ingest
Heath?
How
does
it
represent
yield
to
token
holders
and
then,
when
redemptions
are
enabled?
How
does
it?
How
can
you
switch
them
out?
B
So
we
did
a
bunch
of
research
into
C
coinbase
take
teeth
because
it's
obviously
grown
the
quickest
over
the
last
six
months
or
so,
and
eventually
opted
not
to
not
to
invest
but
wrote,
basically
write
a
memo
to
that
extent
figuring
out.
You
know
what
the
risks
are,
whether
we
can
mitigate
them,
whether
it's
legible
and
then,
whether
you
know
the
opportunity
is
essentially
worth
whatever.
These
risks
are
and
I'm
happy
to
share
that
coinbase
memo
they
not.
E
B
Because
it's
a
black,
the
Redemption
mechanism
is
a
black
box
and
the
staking
operation
is
a
black
box,
so
we
don't
know
who
the
validators
are
or
what?
What
consensus?
Clients
they're
running,
what
what
environments
the
consensus
clients
are
running
in
and
then
the
Redemption
process
requires
that
you
have
a
coinbase
account
submit
to
their
terms
of
service,
there's,
basically
a
whole
portion
of
it.
That
depends
on
their
internal
Ledger
tracking
their
users.
Deposits
of
you
know
these
two.
They
call
it
and
then
making
the
swap
out.
B
B
B
Transfers
or
the
Vault
owner
can
enable
or
prohibit
transfers,
or
you
can
control
the
addresses
to
which
Vault
tokens
can
be
sent.
So
there's
like
a
whole
range
of
configurability
there
cool
and
then
another
kind
of
specific
question
so
for
uniswap
V3.
Is
that
you
guys
integrated
that
on
mainnet
and
maybe
like?
How
have
you
used
that
in
the
past
I
think
when
I
think
about
what
would
be
needed
from
you
know,
a
vault
I
think
a
lot
comes
to
rebalancing.
B
I
mean
detail
already,
has
like
five
and
a
half
million
dollars,
that's
lping
on
swapper,
but
that's
a
uniswap,
V2
Fork.
It
doesn't
require
any
management
at
all.
And
that's
you
know
it's
nice,
because
it
requires
no
management
but
I'm
interested
in
how
Dows
could
be
using
your
swap.
V3
is
especially
specifically
on
their
down
token
and
so
I'm
kind
of
wondering
how
you
guys
have
maybe
dealt
with
that
with
Vault
strategies
like
rebalancing,
and
things
like
that.
C
B
We
do
have
in
the
product
pipeline
helper
functions
and
helper
contracts,
that'll
enable
sort
of
position,
rebalance,
collect
fee
or
collect
fee
position,
rebalance
operations,
sort
of
batching
contract
calls
into
into
single
calls.
That's
in
our
product
pipeline.
We
haven't
released,
it
anything
released
it
yet.
So
if
they're,
currently
the
the
process
is
quite
manual,
but
in
theory
you
know
we
could
even
integrate
things
like
you
know
any
of
the
liquidity
management
protocols
like
Reverb.
Well,
this
revert's,
a
tough
one
but
but
yeah.
B
So
there's
sort
of
the
opportunity
to
manage
unit
swap
E3
positions
is
quite
wide
and
it
ranges
from
currently
manual
as
it
is
to
sort
of
more
programmatic
in
the
future.
Yeah.
Definitely,
and
so
you
talked
a
little
bit
about
I-
guess
like
the
I
guess,
it's
like
almost
like
there's
a
network
that
enzyme
is
operating.
That
is
not
just
like
kind
of
on
ethereum.
It's
I,
guess
I'm.
Thinking
about
like
that.
You
mentioned
the
sub
graph
and
then
I
guess
the
chain
link
oracles.
B
D
D
B
B
B
Trust
assumptions
as
it
relates
to
the
way
we
integrate
with
other
protocols,
are,
you
know,
Mona
touched
on
them
a
little
bit
in
the
in
the
deck
that
the
process
by
which
we
integrate
with
other
protocols.
So
you
know
uniswap,
for
example,
just
because
it's
the
last
thing
we
talked
about
like
when
we
built
our
uniswap
integration.
We
looked
at
the
unit
swap
contracts
and
then
built
our
adapters
in
such
a
way
that
you
know
any
sort
of
risk
factor
that
we
saw
that
a
manager
might
be
able
to
take.
B
Of
would
be
mitigated
so
this
would
that
would
include,
like
you
know,
spinning
up
their
own
pool
and
trading
eth.
For
you
know,
100
East
for
100
useless
coins,
like
that's
that's
Limited
at
the
contract
level.
So
the
trust
assumptions
on
a
per
Network
or
per
protocol
basis
are
strictly
limited
by
our
adapter
contracts
and
those
are
auditable,
and
you
know
the
audit
reports
do
a
good
job
of
sort
of
laying
out
potential
attack,
vectors
and
then
mitigations
cool
and
then
maybe
I'm
kind
of
coming
up
in
the
hour
here.
B
So
if
anyone
else
has
a
question,
leave
in
the
chat
or
feel
free
to
jump
in
here
and
all
as
always,
The
Forum
is
a
great
place
for
discussion
and
I.
Just
yeah
go
ahead.
Sorry
can
I
just
interrupt.
Ross
asked
an
interesting
question.
We
definitely
need
to
improve
the
process
and
interface
to
make
that
work
seamlessly.
But
enzyme
Vault
shares
should
have
a
price.
B
A
chain
link
thing
feed
that
can
be
used
directly
to
calculate,
and
this
is
exactly
what
next
Mutual
does
so
Nexus
Mutual
positive
15
000
each
with
us
that
each
was
from
their
Capital
pool.
So
if
you
think
about
their
Capital
pool
as
being
this
big
stack
of
money
that
they
they
look
at
and
they
say
all
right,
I
have
this
amount
of
money,
and
now
I
can
write
this
amount
of
insurance
policies
against
it.
B
Because
I,
like
you
know,
the
risk
of
this
insurance
policy
outweighs
so
they
needed
to
know
when
they
took
this
15
000
eth
and
put
it
into
an
enzyme
Vault.
They
needed
to
know
how
much
that
was
now
worth
based
on
the
Investments.
They
were
making
so
they're
in
this
Maple
pool
it
earned
interest.
It
took
a
default.
It
earned
interest.
Etc
chain
link,
has
a
custom
price
feed
contract
which
Nexus
Mutual
pings
and
says
how
much
is
My
Vault
worth
how
much
like
on
any
given
any
time.
B
They
write
a
new
insurance
policy
and
needs
to
see
it.
They
get
a
price
in
eth
from
this
chain
link
fee
of
exactly
how
much
how
much
the
prices
are.
The
vault
is
worth
even
if
the
positions
are
sort
of
spread
out,
in
their
case,
it's
just
on
Maple,
but
even
if
the
positions
were
spread
out
across
like
and
liquid,
staking
tokens
and
and
staking
positions
that
that
chain
link
price
feed,
which
is
a
Custom
Contract,
would
be
able
to
to
tell
them
exactly
how
much
it's
worth
cool.
B
B
E
So
we
didn't
go
into
all
the
policies
in
detail,
but
you
know
we
aside
from
being
able
to
do
price
checks
and
prevent
against
Flash
loan
attacks
and
misappropriation
of
funds.
We
can
also
do
things
like
control
which
assets
you
can
trade
which
assets
you
can't
trade,
which
protocols
you
can
trade
use
interface
with
Etc,
so
all
of
these
things
can
be
decided
up
front
and
the
vote
can
Encompass
all
those
policies
before
or
we
can
decide
on
all
of
those
policies
before
taking
anything
on
chain.
E
E
E
It's
it's
much
broader
than
that
got
it
and
I.
You
know
we're
not
yeah
I.
Think
we're
I
think
the
key
thing
is
here
we
want.
You
know
we
want
to
work
with
you
guys
we
want
to.
We
want
to
make
this
happen
as
long
as
it's
reasonable
for
both
parties,
but
we
don't
so
you
know
I
think
our
asks
will
be
reasonable.
It's
just
hard
to
give
anything
precise
until
we
scope
out
work
in
more
detail.
D
E
I,
don't
I
don't
really
get
how
that
would
work,
though,
because
I
mean
like:
what's
your,
you
have
to
decide
what
your
benchmark
is
going
to
be
up
front,
so
is
it
going
to
be
dxt
or
is
it
going
to
be
ether?
Is
it
going
to
be
USD
so
I,
don't
know
how
they
plan
to
make
that
work
in
in
practice.
I,
don't
know
you
know
and
then,
and
then
how
are
you
going
to
treat
impermanent
loss?
You
know
that
you
know
it's
never
going
to
be
positive.
E
It's
only
ever
going
to
be
negative,
so
it's
all
about
minimizing
minimizing
it.
Unless
you're
yeah
I
mean
there's,
there's
lots
of
different.
You
know
things
to
consider
so
I
I
get
it,
but
I
I
would
be
more
I.
Think
it's
more
sensible
for
a
doubt.
If
I
were
giving
a
mandate,
I
would
be
looking
at
dividing
up
into
chunks
and
taking
an
approach
that
makes
sense
for
that.
Individual
mandate,
cool.
B
Other
questions,
thoughts
for
avant-garde
or
anything
else,
maybe
just
quickly
touch
on,
is
the
process
which
I
think
is
still
a
little
feeling
it
out
in
terms
of
how
we're
kind
of
coming
position,
because
it's
it's
new
for
Geek
style,
because
we
really
haven't
had
this
idea
of
like
a
almost
like
a
company.
A
stakeholder
kind
of
coming
in
meanwhile
we'd
also
been
looking
at
individual
candidates,
and
then
it
also
kind
of
opens
up
a
lot
of
questions
that
you
guys
were
talking
about.
It's
like
what
exactly
Geeks
down
need.
B
B
C
C
B
C
B
C
B
B
But
lastly,
just
to
the
last
lead,
though
also
we're
checking
out
for
this
week.
There's
Been
discussion,
more
discussion
on
the
extas
vision
mission
and
strategy,
Tomorrow,
there's
a
DxD
monetary
policy
committee
meeting
at
1600
UTC
tomorrow,
we'll
go
over
some
of
these,
the
redemptions
that
happened,
the
DxD
liquidity
things,
and
then
we
have.
Yesterday
we
had
a
priorities
board
monthly
check-in,
lots
of
good
conversation
and
yeah
so
make
sure
and
check
out
that
video.
If
you
have
any
thoughts
but
yeah.