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From YouTube: DXD Token Working Group Call #4 [2022-11-03]
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B
Is
on
welcome
to
the
DxD
token
working
group
meeting
number
four.
It
is
think
1300
UTC
on
November
3rd
yeah,
we're
in
Jitsu
sorry
about
that
Scott.
A
B
I
just
pasted
the
the
agenda
in
the
chat
here
I
have
a
presentation
that
I'm
gonna
try
to
share
here.
B
B
Okay,
yeah
just
to
kind
of
go
over
agenda.
A
little
brief
recap:
I,
don't
know
how
much
recap
we
need
here
with
this
crew,
but
then
a
little
current
state
of
DxD,
buyback
and
treasury
and
then
capturing
DX
value
in
a
nutshell,
I
think,
whatever
we
kind
of
come
to
conclusion
on
this
I
think
it's
really
important
to
have
like
a
bite
size.
This
is
what
dxt
does
and
it's
very
clear
to
everyone.
I
think
getting
alignment
on
that
for
the
working
group
would
be
really
important
and
whatever
output
would
come
out.
B
A
product
funding
commitment,
thinking
about
how
the
changes
in
this
model
would
lead
to
questions
about
product
funding,
and
so
talking
about
that
and
then
what
would
this
look
like
from
like
new
governance
structures,
processes
that
would
need
to
be
and
then
like
yeah,
a
realistic
timeline
and
execution
on
on
some
of
those
things.
B
B
Dixie
BuyBacks,
we
pulled
some
data
yesterday
on
that
and
so
I
guess,
like
the
only
thing
you
kind.
A
B
Then
you
see
these
blue
lines,
which
are
the
amount
of
dxt
purchased.
Those
are
much
lower
than
they
were
before,
and
this
is
because
we've
switched
from
gpv1
to
cow
swap
completely,
and
so
in
gpv1.
You
could
just
have
a
limit
order
there
that
was
sitting
on
the
order
book
and
could
come
in
and
fill
whenever,
whereas
with
Cal
swap
that
is
a
market
buy,
and
so
the
orders
are
required
are
a
little
bit
smaller.
So
we
don't
get,
we
don't
have
as
much
on.
We
don't
lose
as
much
on
on
slippage.
B
Those
can
be
limit
orders,
but
they
have
to
be
filled
all
at
once,
so
it
makes
it
a
little
bit
tricky,
but
I
think
it's
actually
worked
pretty
well
and
I
think
everyone
that
was
doing
BuyBacks.
B
A
B
Sheet
that
man's
seen
a
lot
of
a
lot
of
time,
let
me
put
the
if
you
want
to
look
around.
Let
me
share
it
here,
but.
B
High
level
numbers
since
the
DxD
buyback
program
started,
there's
been
15,
215,
DxD
purchased
that
has
been
with
2986
each
just
under
3
000
eats,
and
so
you
see
the
average
price
for
all
that
is
0.196.
So
still
under
the
0.2
there,
in
terms
of
where
we
are
in
in
like
where
are
the
funds
coming
from
you'll
recall
that
in
the
initial
buyback
program,
all
of
the
or
or
the
like,
eth
that
was
purchasing?
B
The
dxt
came
from
the
dxt
buyback
reserve
and
there
was
24
sorry
2499
each
in
that
buyback
Reserve
that
was
used,
and
we
actually
just
surpassed
that
about
like
four
or
five
days
ago.
So
when
we
gpv1
was
having
some
trouble
and
we
actually
switched
to
cow
swap
before
the
last
bit
of
of
of
eth
was
used
from
the
prior
proposal,
so
there
was
still
I
think
like
100
eth,
and
so
we
had
to
spend.
B
Basically,
we
had
to
purchase
another
with
42
eth
to
actually
take
up
all
of
the
east
from
the
buyback
reserves.
So
it's
kind
of
confusing
way.
B
Started
tapping
into
the
500k
that
was
authorized
in
September
or
August
there,
and
that
means
we
now
have
a
number
that
we
can
burn
for
the
dxt.
So
if
you
remember
in
the
previous
signal
proposal,
we
have
eth
that
was
used
from
I
mean
DxD
that
was
bought
from
the
general
treasury
gets
to
say
in
the
general
treasury,
but
DxD
that
was
bought
from
the
buyback
Reserve
is
to
be
burned.
So
that's
what
we
have
right
here:
11
536!
B
So
that's
something
we
can
kind
of
talk
about
in
a
little
bit
in
terms
of
doing
a
proposal
on
that
and
how
that
works.
B
Just
to
take
like
a
step
back
in
terms
of
like
where
I,
where
dxt
is
at
and
kind
of
how
it's
been
so,
there
was
4
48,
976,
dxt
minted
from
the
bonding
curve,
so
actually
that
amount
that's
been
purchased
is
31
of
the
txt
that
was
minted
has
been
repurchased
right
here.
That's
that
15
215.
B
Thousand
DxD
that
was
vested
to
deaked
out
over
three
years
there
and
that's
the
total
supply
of
DxD
that
was
like
created
in
existence
here
and
now.
Where
is
this
DxD?
Now
eight
80
725
is
in
the
DX
house
treasury.
There
is
still
19
620
investing
from
this
hundred
thousand.
That
will
all
be
completely
vested
by
May
2023.
It
was
a
three-year
vesting
time
period,
there's
16.99
DxD
in
the
buyback
reserve
for
some
poor
soul
that
sent
his
his
or
her
DxD
to
the
the
bonding
curve.
B
We
actually
did
refund
that
there,
but
the
dxt
is
isn't,
is
in
the
bonding
curve,
so
we'll
have
to
recover
that
too,
and
there's
12
935
dxt
in
the
in
geek
Style
on
gnosis
chain
and
then
there's
790
on
DxD
from
the
deep
Styles
treasury
in
in
hats
right
now.
So
this
gives
us
a
circulating
supply
of
34
889
right
now.
So
all
we're
really
doing
is
taking
these
numbers
and
subtracting
these
numbers
right
here.
B
B
I
think
maybe
things
went
down
a
little
bit
from
last
night
when
I
did
this
but
16
million.
The
total
Supply
currently
is
148
976.
But
if
we
go
through
with
burning
that
DHD
that
would
be
11
000
yeah
500
that
we
would.
B
and
then
just
some
other
commitments
that
we
do
have
out
here.
There
has
been
like
3,
700
50
to
vesting
to
contributors,
and
so
that's
like
some
of
that
is
in
contracts,
but
most
of
it
is
actually
just
promised
by
Deep
South
to
contributors,
and
we
have
a
spreadsheet,
that's
tracking.
All
of
that,
but
that's
like
3750
dxt,
that's
festing
contributors.
A
B
B
That
will
be
an
additional
one
there
and
then
just
looking
at
you
know,
I
always
like
to
say
DxD
inhaled
eth
over
D5
summer
here
and
so
that
was
it
took
in
20,
just
under
25
000
eth
there,
and
so,
if
you
look
at
so
it
took
in
under
25
000
each.
That
means
an
and
minted
48
9976
DxD.
So
that
means
there
was
an
average
DxD
price
Min
of
0.51.
B
And
then,
if
you
look
at
how
much
dext
out
the
15
215
dxts
that's
been
acquired,
that's
been
acquired
at
0.196
dxt
to
eth,
so
a
pretty
good
price.
That's
acquired
there
and
then
also
just
to
note
here
so
far,
there's
been
1100
on
DHT
issued
by
dxtow
two
contributors
already,
so
that's
like
DxD,
that
is
actually
art
of
the
treasury.
Some
of
that
has
been
even
been
sold
by
contributors,
but
that's
really
been
the
only
DxD
issuance
that
it's
had
so
far
so
just
wanted
to
give
update
there.
D
Yeah,
the
the
only
comment
that
I
I
had
was
the
8000
DxD
for
gov
2.0
I.
Think
that
that
conversation
was
had
like
before
a
lot
of
the
dxt
purchase
happened.
So
I
think,
like
that
number.
It
sort
of,
in
my
mind
at
least,
makes
sense
to
adjust
that,
like
to
a
percentage
of
circulating
Supply,
given
the
amount
that
has
been
bought
back
so
far,
I
don't
know
what
other
people
think,
but
that
sort
of
makes
a
lot
of
sense.
To
me.
B
Yeah-
and
that
was
in-
and
so
this
is
just
like
what
was
in
the
government's
2.0
signal
proposal
and
obviously
I
think
like
the
implementation
of
that
you
kind
of
run
into
some
things,
and
even
Augusta
was
talking
about
how
we
Implement
some
of
those
things.
The
smart
contract
level
is
a
little
bit
tricky.
Maybe
we
have
to
make
some
adjustments
to
it,
and
so
this
one
was
also
a
little
tricky
where
it
was
like
basically
Max
10K,
but
I.
Imagine
it
will
actually
be
like
something.
B
It
would
be
something
close
to
like
five
or
6K,
based
upon
like
how
how
the
conditions
were
met.
B
It
didn't
seem,
like
most
of
the
conditions
were
going
to
be
met
by
different
rep
addresses,
and
then
the
reasoning
here
was
that
when
you
think
rep
holders
were
the
you
know,
you
could
almost
see
them
as
like
the
founders
of
of
geek
style
in
a
way,
and
so
yes,
the
ex
Dao
itself
had
a
lot
of
DxD,
but
rep
holders
individually
did
not
have
DxD
and
were
kind
of
handing
over
part
of
the
treasury
to
DHD
holders,
and
so
that
was
part
of
that.
B
One
there
we'll
have
I
want
to
go
back
and
kind
of
look
at
exactly
how
the
conversation
went
on
that,
but
I'm
on
the
the
8000,
because
I
think
it
was
partially
dependent
on
the
market
supply.
But
it
was
also
dependent
on
how
much
DxD
was
in
the
treasury.
B
This
number
here
but
yeah
anyway,
that's
a
discussion
to
definitely
have.
C
Yeah
so
that
projected
circulating
supplies,
the
30s
yeah.
B
So
that
shouldn't
change
that-
and
so
this
would
change
a
little
bit
right
as
this
vest
over
time,
I
think
it's
like
200
ghd,
this
kind
of
vesting
a
month,
a
little
less
than
that
this
was
only
meant
to
say,
like
we're
going.
A
C
DxD,
that's
in
the
chain
currently,
which
is
the
second
highest
below
gnosis
gno
token,
which
is
makes
sense,
just
shows
the
presence
of
DX
dial.
Yes
on
a
gnosis
chain,
yeah.
B
I
think
Dave
and
I
were
talking
actually
about
this
before
the
call
I
mean
I.
Think
we
should.
You
know,
as
you
look
at
right
now,
there's
12
almost
13
000
of
that
17
000
is
just
geeked
out
holding
it
there
and
yeah
I,
don't
know
how
much
DxD
needs
to
be
in
the
d-style
base
on
notice
chain,
but
like
I,
don't
think
13
000
needs
to
be
there.
A
B
C
Yeah,
eventually
with
Davi
I'm
I'm,
hoping
that
contributors
vesting
DxD
stuff
gets
a
lot
easier
when
it's
just
part
of
their
normal
proposal,
and
so
that
would
still
likely
be
on
Moses
chain.
Unless
we
decide
to
move
it
to
another
base
or
something,
and
then
you
just
need
enough
yeah.
You
only
need
enough
DxD
there
that
if
you,
if
this
is
all
automatic,
they
would
feed
into
like
automatic
investing
contracts
on
on
that
chain.
C
C
And
then
at
the
right
and
then
there's
the
when
DX
Tau,
hopefully
at
some
point
can
provide
liquidity
on
on
dxt
token.
Theoretically,
that
could
be
in
decent
size
and
the
question
is:
do
you
want
that
yeah?
What
chain
do
you
want
that
on
as
a
dow
yeah,
but
that
could
theoretically,
it
could
be
pretty
sizable,
I
guess
right.
B
Cool
and
then
I
just
wanted
to
like
look
at
the
the
so
remember
in
the
most
recent
authorization
that
is
past
the
buyback
Reserve
that
we
have
like
a
new
calculation,
because
this
is
kind
of
coming
from
the
general
treasury
there,
as
I
said,
there's
only
been
like
fifteen
thousand
dollars
of
the
500k.
That's
actually
been
used
from
that
there
because
things
have
slowed
a
little
down
here,
so
this
is
just
kind
of
like
pulling
some
numbers
on
the
treasuries.
You
look
at
like
right
now.
This
is
just
total
treasury
value.
B
Everything
it's
at
38
million
here
and
yeah.
The
txt
circulating
cap
is
about
16
million
right
there
and
in
the
prior
proposal
we
had
like
this
calculation,
basically
for
getting
nav
while
still
supporting
the
kind
of
product
development
here,
and
so
this
is
kind
of
the
I.
Don't
know
the
somewhat
complicated
way
of
getting
to
that.
As
you
can
see
here,
the
34889.
B
Supply
the
DHD
price
and
then
like
the
current
DC,
nav
ratio,
is
still
62
of
the
adjusted
treasury.
Nav,
which
is
yeah
here,
is
that
discounted
based
upon
the
monthly
burn
here
it
was
interesting
when
I
like
when
I
was
looking
at
this
again,
the
amount
of
eth
in
the
treasury
actually
increased
from
the
last
time.
I
was
looking
at
this
because
it
had
the
the
eats
from
the
eat
pow
in
there.
C
Is
that
a
separate
Doc
is
that?
Can
you.
B
Show,
oh,
what
no
I.
B
B
Can
look
at
this
right
so
sorry
is.
B
B
Is
so
this
is
not
with
any
carbox
here,
so
the
carve
out
stuff
is
is
over
here
right.
So
you
can
see
here
we
have.
This
looks
to
be
maybe
a
little
off
I'm,
not.
A
B
Eth
and
yeah
of
the
breakdown
here
this
is
the
treasury
nav
contribution,
that's
what
we're
kind
of
using
as
the
discounted
term.
So
this
is
the
raw
term
here
and
you
can
see
that's
where
we
get
like
the
38
million
number
here,
but
yeah.
So
we
have
18.6
million
of
just
regular
13
3
million
of
State
fees,
yeah
usdc,
no
raw
anymore,
and
then
of
course,
ens
and
swapper
have
actually
gone
up
a
bit.
The
last.
B
And
I'll
have
it
I'm
meant
to
try
to
get
a
DC
trade
volume
out
today,
but
I
didn't
get
a
chance
that
there
should
be
one
today
or
tomorrow
on
that
but
I'll
put
update
with
this
stuff,
but.
C
The
counting
the
swapper
counting
the
value
of
swapper
token,
which
is
a
site,
is
a
pretty
large
amount
right.
Is
that
like
yeah,
if
it,
if.
D
B
Yeah
I
mean
so
the
way
that
we
have
it
here.
This
is
what
was
passed
in
the
last
signal
proposal.
You
would
calculate
how
much
it's
worth,
but
in
terms
of
the
treasury
nav
contribution
the
amount
that's
actually
contributing
to
the
bottom
line
when
you're
calculating
for
DT
you're.
Only
using
25
of
that
value
so
for
here,
swapper
is
only
contributing
like
a
million
dollars
to
the
treasury
NAB
contribution,
even
though
the
Excel
has
like
four
million.
C
Yeah
yeah
compared
to
ens
and
gno
I,
guess
maybe
it
should
be
as
he
Molotov
mentioned.
Maybe
it
should
be
a
different
percentage.
Not
it's
not
that
big
of
a
deal.
B
Yeah
I
mean
I,
agree,
I
I
think
we
could
pick
any
percentage.
I
think
there
is
something
like
there's
some
value
there
and
I
think
it's
important
that
DC
holders
like
have
some
of
that
value
and
I,
don't
know
how
exactly
we
translate
that
but
I
thought
yeah.
B
B
Model,
it's
kind
of
like
the
way
to
think
this
through.
We
can
talk
about
maybe
yeah
so
anyway,
that
maybe
let's
keep
going
here
just
because
wanted
to
kind
of
yeah,
just
kind
of
like
where
we're
at
and
on
like
current
txt
stuff
and
then
yeah
just
think
about.
B
What's
next,
we
have
the
DxD
transferring
Burns
as
I
was
just
talking
about
taking
some
of
the
DxD
off
of
gnosis
and
moving
it
to
mainnet
and
also
burning
DxD,
which
we
can
actually
do
straight
through
the
bonding
curve
contract,
and
we
can
interact
with
that.
So
that'll
be
I,
think
maybe
a
fun
proposal
to
do
that.
B
Yeah
we'll
still
do
doing
continuous
cow
swap
orders,
so
there's
still
485k
left
on
the
most
recent
authorization,
and
so
we
can
kind
of
keep
doing
that.
I.
Think
things
are
going
a
little
bit
better
and
should
be
more
consistent.
Now
and
yeah
I
mean
the
only
other
things
we
could
adjust
with,
that
is
USD
and
mainnet
thinking
about
what
to
do.
Yeah
and
actually
Dave
saying
the
chat
there,
I
like
USD
on
mainnet
easier,
because
this
would
take
15
days
to
go
through.
B
B
B
B
Anyway,
so
we'll
talk
about
that
and
then
maybe
do
the
USD
as
a
USD
on
mainnet
I
think
is
like
a
good
idea.
Just
is
like
a
kind
of
different
source
of
liquidity
and
then
yeah
transition
to
new
DHD
token
model,
like
will
kind
of
come
in
that.
B
I
think
we
will
have
some
time
to
transition
here
with
the
480k
there.
B
Where
we've
kind
of
been
where
we're
kind
of
coming
from
where
things
are
going
on
that
and
then
yeah
just
kind
of
Shifting
over
to
the
new
dxt
token
model,
I
think
everyone
on
the
call
has
been
we've
gone
over
some
couple.
Ideas
about
this
and
you
know,
got
into
a
little
bit
of
the
weeds
in
the
last
call
here
and
also
a
little
bit
on
at
the
retreat
in
Columbia,
but
I
think
it's
really
important
that
whatever
we
come
to,
we
can
have
like
a
very
simple
sentence.
A
B
B
Like
so,
it's
a
token
that,
like
how
do
we
finish
that
sentence?
How
do
you
have
that,
like
one
or
two
sentence
that,
like
everyone's
like?
Oh,
that
makes
sense,
I
get
it
so
just
some
sentences
that
we've
like
used
before
DxD
or
yeah
DxD
is
the
liquid
Financial
value
of
geek
style.
This
is
what
I
liked
early
on
you
could
say.
Dxd
is
a
token
that
has
a
claim
for
the
assets
on
Deek
style.
B
Maybe
DxD
is
a
token
that
has
that
has
a
governed
dividend
stream
from
DXL
or
like
I
guess
where
I
was
kind
of
at
now
is
you
know
very
simply:
DHT
gets
its
value
from
DH
Styles
treasury,
which
grows
from
revenue
and
Investments,
and
maybe
like
some
of
these
words
could
be
different.
I
could
have
like
products
in
here.
I
was
thinking
product
Revenue,
something
like
that,
but
yeah
just
kind
of
curious
to
know
what
people's
like
thoughts
are
in
like
a
a
very
short
way
of
kind
of
capturing.
This.
C
And
just
this
current
is
this
for
current,
or
is
this
like
plant
like
then.
B
B
B
But
if
you
have
once
you
have
the
extreme
governance,
then
you
would
ju.
You
would
create
a
reason
for
there
to
be
value
right
so
like
compound
or
uniswap
have
governance
over
the
unit,
Swap
and
compound
protocol.
But
the
reason
they
have
value
is
not
just
the
governance
evidence.
It's
their
ability
to
govern
future
cash
flows
of
those
protocols
and.
C
B
B
Gerard
DC
token
holders
are
residual
claimants
on
the
ultimate
platform
value
of
the
Dow
on
Associated
products.
I
like
that
as
like
a
legal
explanation
or
like
an
illegalese,
almost
like
a
very
like
technical
one,
because
that's
what
I
think
it
is,
but
maybe
if
it
was
a
little
more
yeah
economics
right
a
little
better
and
are
we
concerned
at
all
about
running
about
security
regulations
or
just
brainstorming?
I
mean
I'm.
B
These
are
all
ideas
that
we
are
talking
about
and
ultimately,
like
geek
style
will
decide
whether
it
wants
to
implement
these
or
go
forward
with
these.
We
have
kind
of
talked
with
a
couple
different
people
in
the
legal
Community
I'm,
actually
on
a
call
with
someone
in
a
couple
hours
kind
of
regarding
this.
So
I
think
we
are
always
I.
A
B
Abiding
by
regulation
in
their
home
country
and
yeah
so
we'll
continue
to
monitor
that.
B
But
yeah
any
kind
of
thoughts
on
I
mean
any
other
ways
of
like
capturing
dxt
is
a
value.
Is
it
too,
you
know
tied
up
in
the
treasury
I
know,
but
like
we
need
kind
of
like
that
core
yeah
core
idea
here,
because
I
think
it
is.
You
know,
once
you
decide
that
it
is
this
thing
that
is
backing
that
is
going
to
grow
in
size,
that's
what
the
ultimate
like
source
of
value
is
and
Scott
you're
right,
it's
the
governing
of
that.
That
gives
you
value
right.
B
That
and
that's
why
that's
being
valued
from
a
governance
standpoint
and
then
I
think
when
you
get
this
kind
of
like
core
thing
here,
then
you
can
kind
of
shift
to.
How
do
you
actually
like
implement
this,
and
how
do
you
actually
make
sure
that,
at
the
end
of
the
day,
like
geek
style
is
still
functioning
in
all
the
other
things
it's
doing
is
still
striving
to
fill
its
Mission
and
everything,
but
just
like
for
DxD
holders.
This
is
like
kind
of
like
the
shorthand
way
of
like
yeah.
B
C
A
A
B
D
B
B
Gerard
is,
you
know
the
need
to
have
a
governance
Authority
and
there
is
no
ability
to
have
a
claim
on
any
value
without
that
ability
to
make
that
claim.
Yeah
and.
B
B
B
This
is
not
like
that
we
have
to
figure
out
now,
but
I
think
just
you
know.
We
talked
a
lot
about
Big
Ideas
and
everything
like
that,
but
just
really
getting
it
cord
down
into
something
you
know
like
sentence
or
phrase
here
I
think
is
important
and
I
really
definitely
like
the
idea
of
having
governing
in
there
maybe
governed
his
past
tense.
B
Yeah
and
so
then
product
funding
commitment,
so
just
yeah,
that's
like
the
core
DxD
value,
we're
talking
a
little
bit
about
what
does
this
mean
for
product
funding
and
then
governance,
structures
and
processes
to
Implement?
That,
where
are
we
here.
A
B
And
so
sorry,
if
DxD
is
representative
of
the
treasury,
value
will
Deeks
out
continue
to
fund
product
development
and
I
think
you
know:
does
that
threaten
D
extow's
commitment
to
decentralization
and
Mission
to
enable
Community
freedom
and
so
I
think
when
you
think
about
GH
style
was
obviously
originally.
B
There
were,
it
was
kind
of
like
a
social
contract,
a
relationship
on
like
you
know
these
funds
deposited
into
the
bonding
curve
are
intended
to
funding
style
product
development
as
it
like
strives
on
its
Mission
to
build
like
a
decentralized
world,
and
there
was
a
lot
of
things
going
on
over.
A
B
Summer
and
in
early
days
on
that,
and
so
the
key
is
like
how
to
with
that
initial,
like
social
contract
and
understanding
of
DX
Dao
early
on,
how
do
we
make
sure
that
carries
over
and
continues
if
we
do
end
up
shifting
like
to
a
different
model
here,
and
so
this
is
a
little
small
tangent
here,
but
you
know.
B
Endowments
into
perpetuity
is
something
that
kind
of
annoys
me
in
the
world,
so
oftentimes
pools
of
capital
that
are
meant
to
like
make
a
difference
or
do
something
instead
just
turn
into
a
vehicle
for
the
preservation
of
that
Capital.
So
the
best
examples
of
like
universities
endowments
like
I,
don't
know.
Harvard
and
Yale
have
like
something
like
50
billion
dollars
in
in
an
endowment,
so
they're
kind
of
like
a
hedge
fund.
That
is
that
has
this
University
attached.
B
Similarly,
if
you
look
at
like
the
Ford
and
the
Rockefeller,
Foundation
is
more
so.
The
Ford
foundations,
like
they're
still
around,
still
have
a
bunch
of
like
money
funding
things
but
they're
like
basically
completely
separate
from
anything
that
the
original
founder
was
like
hoping
to
do,
and.
B
Like
you
know,
these
yeah
these
pools
of
capital
that
just
like
exist
into
perpetuity
in
like
sustaining
themselves,
so
like
I,
think
it's
important
to
spend
and
fund
and
kind
of
have
a
commitment
to
that,
not
just
having
like
the
preservation,
Capital,
which
is
obviously
like,
very,
very
important,
and
we
want
to
like
make
sure
you're
you're
doing
that
and
that
it's
existing
into
perpetuity,
but
that
it
doesn't
just
become
about
that
and
I
think
that
is
a
way
of
kind
of
maintaining
deep
Styles
core
Mission
from
the
beginning.
B
So
this
is
kind
of
what
I
could
see
is
it
maybe
isn't
agreement,
and
so,
as
part
of
the
new
DHD
token
model,
Deeks
out
would
commit
to
fund
operations
and
product
development
with,
say
five
to
seven
percent
of
Treasury
assets
a
year
adjustable
by
governance.
So
this
would
basically
be
like
a
management
fee.
You
could
even
see
that
right.
So
if
the
value
of
the
treasury
goes
up,
then
the
value
of
the.
A
B
Amount
would
go
up,
so
we
think
about
how
we
want
to
like,
maybe
eventually
change
that,
but
this
would
be
I
think
a
way
of
setting
an
overall
budget
Target
for
DXL
spend
and
just
the
reason,
I
use
these
five
to
seven
is
that's
like
two
million
to
2.5
million
I
think
right
here.
So
that
would
be
like
roughly
maybe
around,
where
the
burn
is
maybe
a
little
bit
less
than
where
it
is
now.
B
Preclude
other
Capital
Investments,
you
can
still
utilize
geek
Style's
balance
balance
sheet,
but
the
idea
being
that
this
is
like
a
way
from
like
the
top
down
of
having
like
this
is
the
amount
that
should
be
spent
to
continue.
B
Funding
like
product
development,
and
this
is
operations
is
a
whole
bunch
of
things,
and
that
number,
of
course,
is
like
adjustable
by
governance.
But
I.
Think
having
that
as
core
of
the
mission
to
me
makes
a
lot
of
sense.
B
Just
reading
yeah
spicy
soup,
just
on
commitment
to
development
early
on
DxD,
had
no
governance.
We've
recognized,
that's
not
sufficient
and
are
moving
away
from
it.
De-Stout
treasury
will
continue
to
fund
development
so
long
as
all
stakeholders,
rep
and
txt
are
inclined
to
yeah,
and
so
that's
like
you
could
think
about.
The
way
going
forward
is
like
well,
of
course,
you're
going
to
have
you
know:
governance
2.0.
You
have
D
style
that
is
governed
by
rep
holders
and
dxt
holders
and
I.
Think
it's.
B
Elements
of
of
teak
style,
so
you
can
see
that
funding
element
actually
just
playing
out
through
the
just
governance,
power
and
distribution,
which
is
one
of
the
reasons
I,
think
governance,
2.0
is
a
good
model
or
like
this
would
just
be
a
way
of
like
framing
some
of
that
discussion
and
having
like
a
general
even
like
a
percentage
or
something
there,
just
as
a
way
of
kind
of
almost
like
a
shelling
point
for
how
that
discussion
should
play
out
on
how
much
like
is
being
used
to
fund
product
development.
B
Yeah
garage,
what
is
the
hurdle
rate
associated
with
funding
projects
I'm
aware
of
spending
money
because
it
is
earmarked
to
be
spent
even
when
there
are
no
good
ideas.
Project
funding
should
generally
be
judged
against
the
opportunity,
costs,
yeah
and
I.
Think
that's.
The
question
is
like
well.
What
does
this
mean?
Then?
What
is
this
being
spent
on
right
and
so
I?
Think?
B
If
you
look
at
like
what
dstau
and
we
could
it's
hoping
to
get
expenses
post
out
in
the
next
I
think
week
or
two
but
like
there
is
a
portion
that
you
could
say
is
just
operations
right.
Governance
operations
like
I,
mean
things
that
I
do
like
coming
up
with
this
presentation
takes
time
and
that's
something:
that's
contributed
to
DX
style.
So
that
is
like
something
that
I
would
say
is
like
operations.
B
You
have
like
our
DX
gov
team,
who
is
building
kind
of
operations
too,
almost
because
it's
building
products
and
infrastructure
for
DX
Styles.
It's
kind
of
a
way
of
doing
that,
and
then
you
kind
of
separately,
though
you
have
like
product
teams
and
project
teams.
So
this
would
be
like
swapper.
B
You
can
say
carrot
or
anything
like
that
which
deep
style
is
funding
as
a
way
of
hoping
to
get
a
return
from
those
projects
in
the
form
of
Revenue
in
some
way,
not
just
to
like
optimize
the
efficiency
of
deep
down
and
so
I
think
in
the
current
form,
the
budget
kind
of
takes
the
place
of
both
of
those
I
think
going
forward.
Maybe
it
does
make
sense
to
like
split
those
split,
those
out
a
little
bit
more
but
yeah.
That's
kind
of
how
we
are
now.
B
Yeah
and
I
think
the
minimum
spend
can
be
a
little
dangerous
I
agree
on
that.
It's
more
I
think
it's
to
me,
I
think
it's
just
about
like
signaling
going
forward
on
that
we
can
learn
work
on
the
language
and
how
that
is.
Let
me
look
at
garage
again.
B
I'm
not
saying
the
social
objective
should
not
be
part
of
that.
There
are
Goods
that
are
not
always
monetary
infrastructure,
Community
Development,
ecosystem
development,
but
having
our
eye
on
the
value
that
is
traded
for
the
Dow
is
important.
Yeah
and
I
completely
agree,
and
that's
why
I
think
like
if.
B
B
Your
there's
Dave
me
is
to
basically
get
more
not
paying
for
your
buck
out
of
the
treasury
and
managing
these
things.
I
think
in
terms
of
the
DxD
buyback
program,
I
think
that's
been
a
really
good
way
of
returning
value
to
DxD
holders
and
that's
all
kind
of
come
through
this.
B
Like
geek
style
operations
there
so
I
think
there
is
a
lot
of
way
to
do
those
things
that
do
unlock
value
and
I
guess
just
like
the
kind
of
related
words
like
we
have
these
internal
operations
teams
or
things
that
we're
doing
to
like
optimize,
deep
Styles
ability.
A
B
Execute
and
ability
to
both
achieve
its
goal,
but
also
achieve
yield
or
get
some
monetary
gain,
and
then
we
have
like
the
products
that
we're
working
on
now
that
are
kind
of
under
this
umbrella.
So
this
is
like
swapper
and
carrot
and
then
I
think
there
are
a
couple
other
types
of
projects
that
we
can
start
to
do
more
of
that
fit
into
this
ladder,
Camp
of
swapper
and
carrot,
and
so
these
would
both
these
would
be
I.
B
Investments
that
we're
doing
like
is
there
a
way
to
be
doing
a
little
bit
more
of
that,
while
we're
like
not
spending
as
much
developing
our
own
products.
But
we
have
insight
and
to
be
able
to
kind
of
be
able
to
make
investments
in
those
areas
and
have
a
good
return.
B
And
can
we
have
like
more
Project
based
like
a
lot
of
recommendations,
but
actually
I
just
saw
I
haven't,
read
it
yet,
but
I
saw
there's
something
in
the
Forum
that
that
Ross
posted
about,
like
some
team
building
for
Davi,
a
social
MVP,
and
it's
like
a
separate
team
building
that
is
like
going
to
build.
Maybe
some
integration
into
Dobby.
That
does
kind
of
something,
and
that's
a
really
cool
idea.
B
Teak
style
is
and
should
be
focused
on
value
ad
development.
Public
good
investment
is
led
by
already
well
capitalized,
projects
that
have
sufficient
funding.
D
style
is
a
much
more
limited
pool
of
capital
and
wasn't
raised
to
public
goods.
Donations
like
good
go
would
be
pretty
wild.
If
you
Financial,
Mana
Financial
Manager
decide
your
funds.
He
manager
now
charitable
Goods.
Without
your
sign
off
I
think
that's,
maybe
a
misrepresentation
of
what
we're
kind
of
saying,
I.
Think
style
is
at
a
mission
from
the
beginning
before
GXT
was
launched,
I
think
that's
the
reason.
D
B
Think
it's
like
a
strategic
area
to
grow
in,
like
I
think
this
isn't
like
a
something
that
is
just
about
optimizing.
The
here
and
now
I
think
like
the
general
direction
to
teach
that
was
going
in
terms
of
decentralization.
B
Is
ultimately
a
very
good
financial
decision,
because
that's
the
types
of
tools
and
infrastructure
that
are
going
to
be
around
in
three
four
five
years
for
the
new
economy,
so
I,
I
kind
of
I
guess
reject
the
idea
that
it's
like
a
choice
between
one
or
the
other
and.
C
C
Everyone's
considering
ens
public
good,
the
team
built
ens
for
many
many
years
and
spent
money
and
whatever
now
this
public
good,
is
worth
a
lot
of
money
and
is
a
very
valuable
thing,
and
so
it's
yeah
saying
like
don't
build
public
goods
is
yeah,
especially
when
you
read
like
the
hyper
structures
paper
by
the
guy
from
Zora
Zora
just
launched
a
new
thing:
okay,
uniswap,
like
these
things,
are
these.
Their
argument
is
like
building
big
public
good
hyper
structures
become
very
valuable
and
so
yeah.
C
We
don't
have
a
great
example
of
that
within
the
Excel
yeah
but
like
if
swapper,
you
know
as
a
as
a
as
a
decentralized
front-end
D5
actually
gets
accepted
for,
like
many
of
the
things
like
we
don't
use
unit
swap
front
end
because
it
sucks
and
it's
not
private.
We
use
swapper's
front
end
if
we
could
get
more
people
realizing
that
and
it
gets
better
and
better.
You
can
argue
that
yeah
that
the
swap
or
front
end
or
the
pieces
that
it
gets
split
into
are
really
important.
C
Public
good
infrastructure
pieces
for
the
ecosystem
and
and
value
will
flow
through
that
and-
and
the
token
has
to
be
designed
to
capture
that
value
rather
than
like
building.
You
know
some
product
that
you
then
go
sell
like
widgets,
but
it's
it's
it's
confusing,
because
it's
all
very
new
and
we
don't
have
a
lot
of
examples
of
it.
C
But
if
you
look
at
things
like
ens
and
you
use
git
coin
as
an
example,
git
coin
I
mean
the
get
coin
system,
if
you
think
of
it,
as
a
public
good
has
created
a
lot
of
value.
Yes,
people
give
money
through
it
donations,
that's
not
the
goal
here,
but
these
systems
can
become
very
valuable
and
if
DXL
can
make
more
bets,
I
actually
think
DXL
needs
to
like
expand
the
opportunity
field.
C
I
think
the
egg
style
should
make
more
bets,
maybe
more
smaller
bets
on
small
teams,
building,
awesome
stuff
and
some
of
those
will
get
big
traction
and
some
will
become
very
important
infrastructure
and
and
products
in
the
space.
That's
not
easy
to
do,
but
I
think
the
Excel
is
positioned
to
do
that.
In
addition
to
some
of
the
things
it's
building
itself.
B
Yeah
and
I
I
think
companies
create
public
goods.
I,
think
governments
create
public
goods.
Individuals
like
create
public
goods
that
are
accepted,
I
think
the
whole
question
is
not
like,
like
there's
lots
of
public
goods,
I
mean
Facebook
is
like
a
public
good,
even
though
it's
like
governed
by
you
know
basically
Mark
Zuckerberg.
There.
B
Question
is
not
like:
should
we
be
creating
something
good
for
society?
I
think
that's
like
kind
of
the
the
only
thing
again
that
makes
money
or
in
the
end
is
like
worth
doing.
The
question
is
like
how
is
that
public,
good
governed
and
how
is
value
extracted
from
that
I?
B
Think
swapper
is
a
really
great
example,
because
the
swapper
front
end
is
not
the
best
way
to
make
money
in
the
space,
for
everyone
like
the
best
way
to
make
money
would
have
been
to
be
uniswap
or
someone
like
that,
but
for
DX,
Dao
geek
style
is
actually
the
only
group
the
only
project,
the
only
Dow
that
could
create
a
swapper
front
end
that
is
privacy
first
and
is
going
to
be
like
censorship
resistant
going
forward.
B
B
I
I
don't
know
if
how
you
should
fund
public
goods
or
what
is
a
public
good
but
like
yeah,
as
I
said,
like
I,
think
a.
B
Okay,
well,
that
was
fun.
Let's
keep
going
a
little
bit
here,
just
to
kind
of
maybe
talk
about
yeah
yeah,
I
I'm,
the
chair,
I,
don't
think
charity
is
yeah,
I,
don't
really
I,
don't
think.
We've
used
that
that
work
and
I,
don't
really
I
might
have
been
in
it
actually
was
in
something
I
read
about
an
endowment
and
I
took
it
out
because
I
don't
think
it's
a
good
idea.
I.
B
Is
like
that,
it's
like
a
management
fee
of
of
like
a
fund,
but
anyway,
let's
keep.
D
B
We
can
definitely
continue
this
conversation
like
on
the
Forum
when
we're
getting
this
out,
so
this
would
be
governance
process.
This
would
be
like
a
lot
more.
Potentially,
you
know
we're
gonna
have
to
think
about
how
these
things
are
are
working,
so
just
like
a
rewind
here,
a
little
bit
in
terms
of
the
overall
like
structure.
We're
trying
to
implement
here
is
there's
like
kind
of
four
elements,
really
one
price
floor,
support
to
absorb
cell
pressure.
B
These
are
the
inverse
DxD
bonds,
three
new
dxt
minting
and
then
four
a
liquid
market
for
DxD,
so
price
floor.
So,
like
yeah
again
like
how
would
this
work
right?
How
would
we
kind
of
end
up
doing
that?
So
imagine
there
would
be
what
I
think
in
the
initial
DxD
token
working
group
signal
proposal.
That
presumably
would
be
some
number
set
as
the
price
for
support.
B
So
this
would
be
like
a
commitment
from
Geek
style
to
basically
ensure
that
there
was
buys
at
this
level
or
on
the
open
market,
and
so
whatever.
A
B
Percentage
would
be
at
that
would
be
what
would
inform
governance
or
operations
in
terms
of
submitting
the
proposal
or
submitting
the
buys
there.
So
there
would
be.
B
Think
set
in
the
dxt
token
model
working
group
signal
proposal
and
then
I
think
it
would
be
good
to
have
like
a
quarterly
vote
to
reaffirm
this.
Make
sure
that
there
is
something
that
is
like
you
know,
even
if
it's
just
going
to
be.
Yes,
we
want
to
keep
doing
the
same
number,
but
have
that
as
an
on-chain
vote
and
then
I
think
there
maybe
is
an
idea
of
like
well.
B
Maybe
do
we
want
to
have
some
type
of
emergency
change
to
this,
or
there
is
something
there
it's
the
idea
of
having
like
40
of
DHT
holders,
plus
24
25
of
rep
holders.
This
would
be
like
before
governance
2.0
that
they
would
be
able
to
like
change
this
in
in
in,
like
a
through
a
single
proposal
off
off
of
the
quarter
system
there
and
so
yeah.
B
We
can
talk
about
what
this
initial
level
is
later
in
the
kind
of
forum,
but
I
do
think
that's
something
we
want
to
have
as
the
as
an
outcome
of
this
working
group,
the
inverse
dxt
bonds.
So
this
will
definitely
be
like
the
biggest
headache
or
like
kind
of
the
most
ever,
and
it
would
require
some
development
work
plus
operational
overhead,
a
lot
to
manages
I'm,
giving
like
a
pretty
like
an
estimate
year,
I
think
of
six
months
plus
before
any
of
these
could
actually
be
implemented.
B
Just
in
terms
of
all
like
the
work
that
would
need
to
be
done
on
that,
but
I
think
it's
important
to
send
like
the
signal
will
be
kind
of
moving
that
direction.
There's
a
couple
different
things
we
can
do
to
kind
of
get
there.
B
D
B
Really
think
we'd
need
something
to
be
able
to
implement
that
what
I
would
see
them
potentially
doing
is
basically
quarterly
updates
to
governance
on
the
general
direction
and
Outlook
of
DxD
so
set
expectations
on
upcoming
policy
like
again.
This
is
why
you're
kind
of
using
this
monetary
policy
thing
here,
because
I
do
think.
That's
that's
what
we
want
to
be
conveying
here
that
there
is
kind
of
some
some
communication,
that's
consistent,
and
then
they
would
be
issuing
monthly
recommendations
for
inverse
bonds
to
issue.
B
But
bonds
could
go
through
the
regular
governance
process,
presumably
in
order
to
implement-
or
maybe
they
go
through-
the
treasury
Guild
as
we're
implementing
it
there.
But
the
the
monetary
policy
group
would
basically
issuing
these
monthly
recommendations,
which
would
be
like
issue.
You
know
250
000
dollars
of
inverse
bonds
that
pay
out
90
of
nav
in
six
months
or
something
like
that.
That's
kind
of
the
the
thing
there.
B
The
committee
itself,
like
definitely,
of
course,
like
active
DC
holders,
for
constant
consultation,
but
I
do
think
this
is
like
a
lot
of
this
would
be
a
lot
of
work
and
would
require
like
yeah
some
research
and
Reporting
full-time
contributors
and
would
also
need
to
actively
work
with
Treasury
and
governance
on
liquidity
management
for
Redemption,
so
I
think.
A
key
part
of
that
is
like
understanding
what
we're
issuing
these
bonds.
B
And
if
people
take
these
bonds,
then
that
means
we're
going
to
need
to
have
more
assets
to
pay
them
out
in
them
when
they
come
in
six
months
and.
B
A
B
Like
speak
from
that
perspective,
and
so
I
think
it
would
be
like
a
very
good
Communication
channel
broadly
is
having
this
and
maybe
keeping
that
open
on
a
broad
range
of
like
txt
issues.
Dc
Market
issues.
B
Yeah
and
then,
like
the
governance
process
for
DxD
minting
like
this,
would
I
think
be
the
least
government
aspect
remember
just
like
this.
One
would
basically
allow
for
new
investors
to
come
into
digital
by
basically
depositing
ether,
stable
coins
and
at
nav
and
minting
new
DXE
and
probably
actually
not
minting
you
could
just
get
it
from
the
treasury.
B
Maybe
that's
actually
something
to
talk
about,
is
it
minting
or
just
from
the
treasury
and
the
same
thing
with
the
DHC
liquidity,
Market
I
think
this
could
be
pretty
easily
managed
through
governance,
but
maybe
this
is
something
that
the
DHD
monetary
policy
committee
is
kind
of
is.
Is
there
and
looking
ahead
or
like
what
is
this
like?
What
can
we
kind
of
think
about?
B
I'm
aiming
to
get
a
draft
text
of
a
signal
proposal
before
the
next
working
group
meeting.
So
that
would
be
two
weeks
from
today-
probably
posted,
hopefully
in
the
Forum,
before
the
call
and
then
go
over
it
on
the
call
here
and
feedback
comments
on
anything
and
then
let
that
sit
probably
make
an
update.
After
our
call
in
the
Forum
and
it'll
be
great
to
have
any
comments
and
suggestions
from
from
you
all
here.
But
then
leave
that
open
in.
A
B
Yeah
at
least
two
weeks
that
also
is
when
the
is
when
turkey
time
is
in
the
U.S.
B
There
may
be
some
Miss
missed
time
there,
but
then
yeah
looking
to
then
leave
it
on
the
phone
for
two
weeks,
then,
and
then
probably
pick
it
up
from
dx.governance
on
the
like
on
the
weekly
call
in
early
December
and
then
yeah
try
to
get
that
passed,
mid-December
I
know
there'll
be
a
lot
of
things
to
get
past
in
early
December
and
then
yeah
would
of
course
want
to
make
sure
the
Disco
is
also
the
dxt
guild
for
approval,
and
so
we
can
get
kind
of
that.
B
Dual
governance,
approval,
yeah
and
then
just
in
terms
of
like
the
DC
monetary
policy
framework
and
these
four
things
like
price,
more
support,
pretty
easy
to
implement
absorb
cell
pressure.
This
is
the
inverse
bonds
very,
very
hard
to
implement
the
new
DxD
minting
like
kind
of
hard
to
implement,
I
think
not
as
important,
because
we're
so
far
away
from
NAD
but
and
then
liquid
market
for
DHT
is
also
easy
to
implement
in
terms
of
like
Geeks
out
and
just
provide
liquidity
on
that
so
yeah
going
forward.
B
What
we
could
kind
of
maybe
see
is
there's
price
floor
support
and
a
liquid
Market
by
the
end
of
the
year
right
that
comes
after
the
or
in
yeah
kind
of
follow-up
to
the
DC
token
working
group.
There
hopefully
will
be
some
kind
of
specific
actions
agreed
to
on
those
and
then
those
can
be
implemented
by
the
end
of
the
year,
because
we
kind
of
have
the
ability
to
do
that
now
and.
B
A
B
That
was
it
these
old
slides
there
so
any
thoughts
on
kind
of
the
schedule
here
kind
of
going
forward
anything
it
looks
realistic
or
how?
Maybe
we
should
think
about
messaging
and
communication
or
yeah.
Anything
I
guess
for
the
whole
call
any
other
thoughts.
B
B
Okay,
well,
I
will
put
this
deck
in
the
in
the
Forum
today
and
kind
of
follow
up
on
this.
No
I
really
like
the
public
goods
I.
Just
that's
the
the
public
goods
conversation
is,
is
really
interesting.
Like.
B
Are
like
when
one
plus
one
equals
three
and
that's
like
whatever
happens
when
you
have
like
a
good
social,
but
you
can
do
that
through
businesses
or
anything
anyway.
So
we'll
have
a
called
two
weeks
from
today.
B
I
could
think
about
maybe
close
to
the
same
time,
I
kind
of
like
it
in
the
morning
a
little
bit
different.
We
do
have
some
nice
representation
from
some
GST
holders
here
and
that's
always
good
I
appreciate
waking
up
early
sky
on
the
west
coast
there,
but
yeah
we'll
do
it
from
two
weeks
from
now,
I'll
send
out
an
invite
next
week.
For
that.
B
Cool
all
right:
well,
thanks
everyone
for
joining
us
Wayne,
you
got
the
recording
set
and
we'll
yeah,
we'll
post
it
on
the
Forum.