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From YouTube: DXdao Weekly Meeting #39 (Resources) [2021-04-08]
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A
Recording
is
on
hi,
everyone
welcome
to
the
dx
dow
weekly
meeting
for
april
8th
2021,
and
this
is
going
to
be
a
resources,
edition
and
resources
with
a
heavy
focus
on
on
treasury.
So
you
know:
treasuries
become
more
important
aspect
of
dxdow
from
its
from
its
genesis
and
like
having
a
smart,
active
treasury
management
approach
is
something
that
we've
been
refining
and
is
implementing
over
the
over
the
past.
A
And
it's
really
going
to
give
a
good
handle
on
you
know
what
the
finances
are
of
dx
down
where
the
money
is
and
where
it's
being
put
to
work
and
and
budgets
and
expenses,
and
things
like
that
and
then
hopefully
soon
more
and
more
revenue
as
well,
and
then
we're
going
to
touch
on
the
next
treasury
diversification
proposal,
which
we
are
very
close
to
finishing
the
first
diversification
proposal.
A
So
with
that,
I
will
kick
it
off.
Kick
it
over
to
dave
who's
gonna
share,
I
think
his
screen
and
contributed
experience
yeah.
We
can
talk
about
that
too,
and
and
then
hopefully,
everyone
can
can
see
what
dave
has
to
present.
B
Awesome
and
yeah,
as
guy
said
you
know,
it's
the
first
iteration
first
time
we're
kind
of
doing
this,
so
any
feedback
you
guys
have
is
highly
appreciated
in
the
end,
so
we
can
keep
working
and
improving
on
it.
So
I'll
just
jump.
B
Feel
free
to
interrupt
anytime
yeah.
If
anyone
has
any
questions,
cool
raise
your
hand
I'll
I'll,
be
checking
for
the
raised
hands
in
jitsi
as
well
great
cool,
all
right,
let's
jump
in
so.
First
of
all
the
way
I've
kind
of
built
out
the
whole
report
is
like
doing
accounting
based
on
blocks,
so
it's
kind
of
like
trying
to
follow
the
regular
quarterly
dates.
These
are
the
blocks
we
used
in
this
q1
report.
So
the
next
report
would
of
course,
start
from
one
block.
B
Beyond
this
12
million
block
we
started
at
on
the
31st
of
march,
we
kind
of
finished
the
first
quarter
with
these
holdings
across
our
three
main
addresses.
So,
of
course,
we
have
the
ether
treasury,
which
is
the
dx
style
main
address
which
had
a
value
of
about
44.9
million.
At
the
end
of
the
quarter,
we
had
the
xdi
treasury,
which
held
a
total
of
just
our
below
1
million,
and
then
we
also
have
the
buyback
address
where
it's
just
about
5
million
us
dollars
in
there.
B
So
we
kind
of
finished
the
q1,
with
the
total
of
50.7
million
us
dollars.
If
we
took
take
a
look
a
bit
more
historically
kind
of
from
like
the
q2
of
last
year,
so
the
beginning
of
q3
2020,
we
can
kind
of
see
how
the
value
of
the
treasury
has
evolved
over
time
in
u.s
dollars.
B
This
is,
and
as
we
can
see,
it's
a
pretty
good
job
to
holding
on
to
the
eve
for
that
long,
given
that
the
main
driver
here
has
really
been
heath,
but
as
we
can
see,
it's
been
pretty
much
quite
a
strong
growth
over
the
past
quarters.
We
can
kind
of
see
a
summary
here:
the
numbers
how
the
values
have
grown
and
the
amounts
have
pretty
much
been
the
same
right.
B
It's
just
been
the
tokens
increasing
and
decreasing
value
the
the
various
tokens,
and
if
we
zoom
in
specifically
on
this
quarter
of
this
year,
we
also
see
a
token
price,
of
course,
highly
fluctuating.
So
every
day
we
kind
of
have
a
different
total
value,
but
we
can
see
that
ether.
Nevertheless,
raising
value
has
kind
of
raised
the
overall
value
of
the
ether
of
the
dx
style
treasury.
B
If
we
take
out
ether
and
dxt,
of
course,
in
the
slides
before,
given
the
amount
of
ether
and
dxd
we
hold,
you
can't
really
see
any
of
the
other
tokens.
B
We
can
see
kind
of
an
overview
of
the
other
tokens
we
hold
in
object,
style,
treasury,
and
I
mean
one
of
the
main
ones
we
see
is
obviously
dmg,
which
has
decreased
in
value
quite
a
bit
and
one
of
the
main
things
we
kind
of
worked
on
this
quarter
was
also
diversification
right,
so
getting
some
stable
coins
and
having
some
runway
in
stable
coins.
B
I
didn't
plot
this
because
we
pretty
much
had
nothing
at
the
beginning
of
the
quarter,
so
you
wouldn't
really
see
anything
on
the
plot,
but
this
is
currently
we
hold
around
two
million
dollars
in
stable
coins,
and
this
is
just
the
these
charts
are
specifically
for
the
address
the
main
treasury,
so
the
ether
treasury,
I
believe
we
hold
another
half
a
million
more
or
less
in
the
dx
style
x,
x,
dxl
treasury
as
well,
and
if
we
specifically
look
at
the
stable
coins,
we
kind
of
see
how
the
value
or
the
amount
of
stable
coins
we
hold
has
increased
in
this
quarter,
which
I
think
was
one
of
the
main
kind
of
projects
of
this
q1.
B
Sorry,
I'm
also
checking
the
chat
once
in
a
while,
just
to
make
sure
if
you
guys
are
asking
questions.
So
if
I'm
interrupting
that's
why
and
then
here
we
kind
of
see
a
glo
overview
again
on
the
31st
of
march
on
this
specific
block
number
of
what
we
held.
As
I
said,
50.7
million
total
value.
The
stable
coins
are
held
across
mostly
on
the
dx
style
eath
chain,
but
we
also
have
some
stable
coins.
B
Mostly,
of
course,
die
on
the
xdy
base
and
on
the
buyback
reserve,
I
believe
someone
mistakenly
transferred
130
000
us
dollars
into
it.
So
because,
of
course,
I
did
the
accounting
by
the
block
and
just
pull
the
numbers
from
the
blockchain
it's
listed
there,
but
I
believe
we
do
have
some
intention
to
returning
these
to
the
rightful
owner,
but
they
are
included
in
the
calculation.
Given
that
you
know,
I
think
blockchains
are
there
because
they're
a
source
of
truth.
B
So,
of
course
I
used
whatever
is
on
the
blockchain
to
report
it
and
on
the
right
of
course,
we
can
also
see
that
still
the
majority
of
the
value
is
still
held
in
ether
and
dx
style,
even
though
we
did
do
some
diversification
into
stable
coins.
The
rising
price
of
ether,
of
course
diminishes
the
impact
overall
in
percentage-wise
of
how
much
we
have,
but
we
did
do
diversification.
B
It
doesn't
show
that
much
because
ether
just
keeps
skyrocketing,
and
then
I
also
just
pulled
just
kind
of
see
a
correlation
between
the
value
of
the
treasury
and
the
price
of
ether,
and
we
pretty
much
have
a
almost
a
complete
correlation.
B
If
you
consider
that
we
also
had
outflows
and
most
of
the
outflows
we
had
did
go
into
the
x
die
chain
which
is
still
currency
kind
of
tokens
we
hold
so
in
a
way,
it's
almost
perfectly
correlated
to
the
ether
price,
which
is
also
not
surprising,
because
we
don't
really
have
any
investments
or
any
yielding
assets
yet
right.
So
it
would
be
the
only
thing
that
would
kind
of
impact
the
price,
the
total
value
of
our
treasury.
B
B
We
currently
have
one
liquidity
pool,
which
is
a
die
west
liquidity
pool
with
around
800
000
in
liquidity
and,
of
course,
at
the
end
of
the
q1,
we've
been
working
quite
intensely
on
also
funding
lps
on
x-tie,
where
you
currently
have
four
total,
the
largest
one
again
being
ex-die
to
ref,
but
also
a
couple
of
other
ones,
and
one
of
the
things
I
also
took
a
look
at
was
the
outflows
just
to
kind
of
get
an
idea
of
where
the
money
is
flowing.
B
I
think,
like
a
sankey
diagram
can
also
be
quite
nice
in
well.
It
might
not
be
that
interpretable,
it's
quite
nice
to
see
the
decentralization
right
like
we
wouldn't
want
to
see
all
the
money
flowing
to
just
one
address,
and
of
course
the
large
address
we
have
here
is
the
multisig.
B
Most
of
these
funds
were,
of
course,
then
transferred
to
the
x
die
base,
and
one
thing
that
would
be
nice
to
do
in
the
future
is
actually
connect
the
sankey
chart
with
the
different
chains,
so
we
could
see
the
total
flows
going
from
where
to
where
and
over
the
q1.
B
We
had
like
43
unique
addresses,
which
I
believe
is
quite
good
for
having
like
an
average
of
15
workers
right,
so
it
kind
of
shows
that
the
funds
are
going
to
different
sources
and
then
here's
just
an
overview
of
the
q1
flows
where
they
went
to,
and
I
don't
know
chris
if
you
wanted
to
say
anything
about
the
last
two
slides.
B
C
I
think
just
just
to
I
the
outflows
here,
so
this
was
kind
of
looking
at
the
east
coming
out
of
the
treasury
or
like
flows
out
of
the
treasury,
like
what
exactly
are
those
going
to,
and
so
you
can
see
here
like
most
of
the
flows.
If
you
look
at
the
deke
style
address,
obviously
most
of
the
flows
outwards
were
going
to
treasure.
C
Diversification
and
x
die
transfer,
that's
why
you
saw
that
big
band
in
the
middle
for
the
multi-sig,
but
we
had,
but
you
can
look
at
kind
of
the
worker
payments
and
then
maybe
go
yet
next
slide
here,
and
I
think
this
is
kind
of
shows
the
the
process
of
both
growing
and
also
shifting
to
xda
right.
So
you
can
see
here
we
had
about
145
000
worth
of
worker
expenses
in
january
and
then
that
actually
increased
in
february
and
then
dropped
off
a
cliff
in
march.
C
But
that's
of
course,
because
we
switched
all
the
worker
payments
to
to
xdi
and
then
the
last
one
here
is.
I
think
it
underscores
this
point
a
little
bit
more.
So
this
is
looking
at
the
outflows
by
the
token
that
comes
out
of
the
treasury.
So
of
course,
in
january
almost
all
of
the
outflows
were
in
eth,
even
if
they
were
for
worker
payments,
but
you
can
see
in
february
and
march
and
this
so
this
slide
excludes
the
treasury,
diversification
and
authorization
and
the
xdi
transfer.
C
So
this
is
just
for
like
flows
for
payments
expenses,
other
things,
as
you
can
see
like
starting
in
february
and
march,
we
basically
have
much
less
payments
based
in
in
eth
and
much
more
of
the
the
stable
coins,
which
of
course,
I
think,
is
what
you
would
expect.
B
Yeah
and
then
moving
forward.
I
believe
one
of
the
things
we
want
to
do
more
is
a
bit
more
granular
tracking
on
x-tie.
I
currently
ran
into
a
couple
of
issues
I
believe
when
you
bridge
over
die,
it's
not
that
easy
to
track
because
it
gets
minted
on
the
xdy
base,
so
I'm
kind
of
checking
how
to
best
track
that
it
could
of
course
be
added
manually,
but
I
think
we
want
to
also
build
somewhat
of
a
robust
system.
That's
automated
right!
So
just
trying
to
work
with
that.
B
Otherwise,
tracking,
all
the
tokens
on
x-style
works
flawlessly.
It's
just
x-die
itself
whenever
it
gets
bridged
from
die
to
x-time
and
then
one
thing
we
of
course
also
wanted
to
do,
was
kind
of
like
analyze,
the
funding
per
product,
etc.
However,
we
currently
have
a
lot
of
liabilities
or
salaries
and
dxd
investing
that
hasn't
been
paid
out
so
doing
it
now
would
kind
of
show
a
skewed
picture,
because
a
lot
of
the
salaries
haven't
been
paid
out.
B
So
I
know
we're
currently
working
on
tracking
that
and
once
we
have
that
we
can
also
probably
get
some
cool
information
on
that,
and
I've
also
had
a
chat
with
federico
luzi
about
the
swapper
fees,
which
is
also
not
the
easiest
thing
to
track,
but
it's
relatively
straightforward
to
track
both
the
swapper
fees,
both
the
trading
liquidity
fees
and,
of
course,
dx
now
also
gets
some
protocol
fees
which
I
believe
gets
sent
to
the
buyback
address
actually,
but
that's
something
I'm
also
working
on
and
then
in
the
future.
B
Of
course,
I
know
a
lot
of
discussion
has
been
going
on
about
the
dx
ventures,
where
we're
exploring
a
couple
of
projects
as
well
as
some
potentially
yielding
assets
in
the
future,
but
I
believe
this
is
still
actively
being
discussed
right.
So
there's
no
real
conclusion
there
and
then
I
guess
I'll
also
be
working
on
making
my
plots
a
little
bit
prettier,
because
I'm
not
really
a
design
guy
or
anything
like
this,
but
that's
already
the
end
of
the
presentation
and
yeah.
B
A
So
I
think
pulp
had
mentioned
this
early
but
or
mackinac
did,
but
so
there's
a
number
of
other
projects
in
dallas
that
have
like
released
a
like
a
public
quarterly
statement
about
the
project
to
like
the
public
and
so
taking
all
this
data,
and
maybe
in
presentation
form
or
maybe
kind
of
maybe
there's
like
a
new
dow
way
to
do
this.
A
But
you
know
some
kind
of
like
three-page
report
or
something
that
that
that
can
be
shared
publicly
and
we
can
make
a
tweet
thread
out
of
it
and
all
that
kind
of
good
stuff.
But
it's
all
you
know
it's
obviously
all
public
information.
A
It
would
be
good
for
dxd
holders.
To
all
be
very
aware
of
of
this.
B
Yeah,
I
don't
know
yeah
absolutely
I
mean
the.
I
think
the
report
actually
started
as
a
report
for
a
written
report,
but
then
we
took
a
look
as
well
at
what
other,
dows
or
other
crypto
projects
do,
and
I
think
for
now
we
focus
on
like
ease
of
presentation
right.
That's
why
I
kind
of
turned
into
a
report
into
a
visual
presentation,
but
yeah
definitely,
and
I
mean,
of
course
all
this
information
is
publicly
accessible
right.
A
I,
like
the
idea,
I
don't
know
like
I
like
the
idea
of
like
taking
all
these
awesome
visuals
you
already
made
and
making
it
and
having
like.
I
don't
know
a
website
just
like
the
designer
to
like
put
these
into
like
an
interactive
la
page
that
goes
on
to
dx,
dao's
main
home
site,
but
like
but
like,
instead
of
just
going
and
opening
a
pdf
and
looking
at
a
presentation
like
they
scroll
through
the
treasury
area
of
our
site,
and
they
these
all
come
up
like
in
an
interactive
way,
would
be
my
desired
path.
B
C
Hi
skye,
I
agree
with
you
too.
Just
it
just
reminds
me
kind
of
the
governance
dashboard
in
general
that
we
talk
about,
and
I
think,
like
long
term,
it's
such
a
cool
thing
for
dx
dow
to
be
able
to
just
like
share
all
of
this
information
like
freely.
C
A
C
A
B
A
The
first
treasury
diversification
proposal,
you
know
is
obviously
was
drafted
and
put
onto.
I
think
we
did
it
as
a
signal
proposal
on
xtime.
Maybe
we
made
that
I'm
not
sure,
but
it
was
passed
and
then
we
started
executing
it.
A
This
is
the
second
version
of
it
now
that
we
are
quite
close
to
the
completion
of
the
first
strategy,
and
you
know
this
is
still
just
a
draft
like
now
that
we
know
what
this
experience
looks
like.
We
know
that
dick
style
can
do
this.
We
know
that
there's
a
few
different
methods
and
soon
hopefully
like
really
three
methods-
we've
used
mainly
two
of
the
three
methods,
but
people
here
and
the
community
in
general,
is-
are
always
welcome
to
propose
different
strategies,
better
strategies,
different
ways
to
do
it.
A
You
know
there's
an
overall
arching
question
that
I
was
thinking
about,
as
as
we
were
looking
at
this,
this
dave's
presentation
and
stuff
too,
but
I'll
ask
that
at
the
end,
I'll
just
go
really
kind
of
briefly
through
this
quickly
just
to
give
an
overview,
and
then
we
can
discuss
it.
Maybe
so
you
heard
you
got
this
this
overview
from
dave
of
of
the
of
what
we've
done
around
like
when
we
say
treasury
different
diversification.
A
So
matching
your
your
assets
and
eventually
your
revenues
to
your
liabilities
is
an
important
risk
management
aspect
when
it
comes
to
businesses
or
entities
in
general
and
I've
seen
many
projects
in
the
in
especially
the
ethereum
ecosystem,
who
had
raised
lots
of
money
had
were
had
ideas
to
build
good
projects
held
everything
in
ethan
when
eth
went
to
a
hundred
dollars,
their
treasuries
were
depleted
and
they
couldn't
survive
anymore,
and
so
it's
a
huge
risk
that
most
people
in
the
ethereum
ecosystem
live
with.
A
Like
many
many
projects
just
hold
like
their
own
token
and
eth
token,
and
usually
those
are
very
correlated
and
in
a
very
in
a
bear
market.
It's
a
disaster,
it's
a
disaster
scenario
and
so
having
having
enough
stable
coins
to
give
you
runway-
and
this
is
like
you
know,
startup
101,
especially
when
you
might
not
have
a
plan
for
like
additional
fundraise
right
so
startups
in
general,
have
an
approach
where
they
raise
amount
and
raise
an
amount.
A
A
certain
amount
of
runaway-
and
then
you
know
before
they're
six
months
away
from
the
end
of
their
runway.
They
already
are
starting
to
raise
their
next
round
and
if
they
have
good
investors-
and
they
have
a
good
product
like
they
can
usually
raise
the
next
round
and
extend
their
runway
in
our
scenario,
especially
with
the
bonding
curve
and
the
way
that
dxd
token
raised
capital
for
the
dx
dow
ecosystem
and
projects,
I'm
not
sure
that
we
have
like
a
clear
way
to
raise
additional
funding.
A
So
the
funding
that
we
have
is
very
about
is
very
important
and
treasured,
and
so
this
next
proposal,
so
we
currently
have
like
two
million
dollars
in
stable
coins,
with
like
the
next
1
million
to
fill
out
the
3
million,
like
in
proposals.
A
I
think
they're
like
being
complete,
will
be
completed
over
the
next
couple
weeks,
and
then
we
have
about
another
another
500
grand
that
we're
using
in
stables
on
x,
die
in
or
being
held
on,
x,
die
and
also
in
in
in
the
swapper
pools,
yeah
and
then
another
one
million
on
swapper.
So
it's
you
know
three
or
four
million.
A
Basically
right,
and
so
this
plan
would
be
for
an
additional
five
million
dollars
of
stable
assets,
which
I
I
originally
you
know
mentioned:
dollar
stable
assets,
but
like
theoretically-
and
this
is
an
open
question,
like
should-
could
some
of
these
stable
assets
be
in
some
other
stable
asset
like
like
rye,
for
example,
or
fey,
for
example,
or
or
there
are
some
euro
there
are
some
euro
stable
coins
and
and
actually
nathan
is
in
touch
with
a
euro
stable
token
project
who
has
interest
in
maybe
taking
advantage
of
swapper
for
some
of
their
needs?
A
And
so
we
can
explore
non-us
dollar
stables
as
well,
and
so
then,
like
with
this,
with
this
with
this
money
that
will
extend
the
runway,
but
we
also
there's
a
obviously
that's
the
that's.
The
main
goal
is
to
have
some
stability
in
our
treasury,
but
then,
with
that,
if
we're
going
to
hold
stable
coins,
it
makes
sense
to
put
those
to
use,
and
so
that's
where
the
chat's
blowing
up,
so
I'm
not
reading
it.
A
I
don't
I'm
not
anyway,
so
that
we
like
there's
this
idea
of
dx
yield
which
we've
talked
about,
and
so,
if
we're
going
to
hold
stable
coins,
which
gives
us
security
and
runway,
we
should
put
those
to
work
and
we
should
put
those
to
work
in
our
products.
And
then
we
should
also
put
those
to
work
in
in
other
protocols
such
as
something
that's,
reliable
and
safe
like
compound
and
earn
a
yield,
and
maybe
why
earn?
A
And
then
we
can
get
more
exotic
up
the
up
the
risk
ladder,
but
there
isn't
kind
of
an
open.
So
in
the
breakdown
the
proposed
breakdown
is
still
a
mix
of
like
die.
Usdc
synthetic,
usd
and
usdt
that
can
be
altered,
like
in
general,
people
are
less
excited
about
holding
usdt
just
because
of
ethos
I
think
and
and
potentially
risk.
A
I
and
I'm
not
sure
you
know,
and
then
there's
other
you
know
die
is
truly
permissionless
synthetic,
because
it's
truly
synthetic
and
usdc
could
be
like
addresses,
can
be
shut
down
just
like
usdt,
but
by
central
counterparty
and
so
again.
There's
three
methods.
There's
the
gnosis
protocol
error,
which
we
should
be
ready
to
start
using,
hopefully
in
the
next
few
weeks,
and
that
can
be
a
big
piece
of
of
of
acting
out
this
diversification
and
maybe
with
larger
sizes.
A
There's
again
the
dx
dial,
the
dev
multi-sig,
which
I
think
it
makes
sense
to
slightly
increase
like
the
amount
of
each
that
it
can
transact
with
at
any
time.
It's
built
up
its
own
reputation
like
for
dx
dow
and
is
becoming
a
more
reliable
tool
that
dxdow
can
use.
But
you
know
obviously
we
are
down.
A
We
prefer
not
to
use
multi-stakes
we're
using
multi-stakes
for
testing
we're
using
multi-sigs
for
for
accomplishing
some
things
that
are
just
not
currently
possible
like
directly
by
the
dow
and
then
the
third
thing
is
member
balancer,
which
worked
really
well
and
really
quick
and
was
really
quick.
The
last
time
there's
a
there's,
a
really
small
incentive
or
one
percent
incentive
to
for
people
to
participate
in
member
balancer.
And
it's
actually,
you
know
it's
more
trustless
than
the
dev
multisig
approach.
And
so
we
could.
A
You
know,
balance
between
that
as
well,
and
all
of
these
things
have
gas
costs.
So
increasing
one
idea
of
increasing
the
the
size
and
the
amounts
of
how
much
we
do
at
a
time
whether
it's
putting
money
into
swapper
or
we're
trying
to
limit
the
amount
of
exchanges.
I
think
I
don't
know
what
the
total
gas
that
has
been
spent
on.
A
We
should
probably
look
at
what
the
total
gas
has
been
spent
from
the
all
the
all
of
the
proposals
and
and
executions
of
the
of
the
first
treasury
diversification
proposal.
But
it's
it's
definitely
in
the
tens
of
thousands
of
dollars.
I
would
I
would
guess,
and
so
we
want
to
try
to
minimize
that
as
much
as
possible,
and
so
that's
a
that's
the
overview.
A
There's
a
question
that
I
mentioned
before
that
so
like
what
is
the
goal
so
dxd
holders
have
expressed
that
like
and
and
and
we
us
here-
we
all
want
to.
We
all
know
that
that
putting
the
money
to
work.
So
we
talk
about
putting
dx
dallas
treasury
to
work
is
an
important
thing,
and
so
what
is
the
goal
of
like
seeking
yield?
A
And
so
I
think
you
have
to
make
the
assumption
that
if
you're
going
to
hold
stable
coins
and
there's
a
reason
why
you
hold
stable
coins
and
that's
for
security,
runway
extension
and
diversification
that,
if
you're
going
to
hold
stable
coins,
you
probably
want
to
put
those
to
work
to
earn
as
much
yield
or
yield
on
those
as
possible.
But
at
the
same
time,
where
will
that
yield
go?
Will
that
yield
like
go
to
dxd
holders
like
as
a
financial
as
a
financial
thing
or
with
that
deal
that
you'll
go
to
dx
dow
treasury?
A
A
We
now
have
a
much
bigger
treasury.
Like
dave
just
presented,
we
have
a
50
million
dollar
treasury
now
and
that,
theoretically
is
was
a
hundred
times
better
than
if
we
had
held
stable
coins
and
earned
10
yield,
and
so
does
that
benefit
dxd
holders.
And
how
did
that?
And
what
do
the
exe
holders
get
from
that?
And
so
that
is
a
question
that
that
still
remains
open
like
if
we're
putting
the
treasury
to
work
and
we're
earning
money
from
it?
A
D
So
I
think
that
the
main
purpose
of
the
treasury
is
to
fund
development
of
products,
but
when
it's
doing
well
and
is
in
a
healthy
state
like
it
is
now,
then
I
think
definitely
there
should
be
some
returns
to
dxd
holders
in
one
form
or
another,
and
there's
like
a
few
ways
to
do
that.
Right.
D
Like
you
know,
the
the
main
function
of
the
buyback
reserve
right
is
to
provide
like
the
floor,
like
the
sell
price
for
dxd
like
sending
yield
or
profits
to
the
the
buyback
reserve,
is,
I
guess,
sort
of
like
the
main
mode
of
like
how
product
profits
should
be
going
back
under
the
like
current
system.
D
A
D
Yeah,
I
mean
that's
a
big
question
and
I
mean
so.
I
think
we
need
to
anchor
things
in
like
the
budget
and
like
roadmap
and
and
having
a
certain
amount
of
runway
right,
because
I
think,
if
you
carve
that
out,
then
you
understand
like
what
you're
working
with
in
terms
of
assets,
to
like
provide
returns
and
and
to
distribute
so
like.
D
I
also
think
that
it's
important
in
crypto
to
be
aware
that
the
markets
are
very
volatile
right,
that
we
could
very
well
go
back
into
a
protracted
bear
market
and
the
idea
would
be
to
survive
that
right.
So
like
to
me,
like,
I
think,
a
good
number
and
runway
is
like
five
years
like
five
years
of
budget
runway
should
be
secured,
and
I
think
the
current
treasury
has
you
know,
has
more
than
enough
value
currently
to
do
that
and
more
right.
D
So,
but
I
think
we
need
to
kind
of
dig
into
the
numbers
and
sort
a
lot
of
this
out,
though.
A
Yeah
and
and
their
logic
behind
five
years,
because
so
five
years
comes
startup
like
a
traditional
startup
is
extremely
long.
Five
years
for
a
dow
like
well
doubt
like
we
don't
know
what
rate
like
good
runways
are
for.
Dows
we've
never
really
had
it.
So
five
years
sounds
like
a
good
number.
Maybe
it
should
be
ten
years.
Maybe
it
should
be
two
years
who
knows
right,
depending
yeah
yeah
go
ahead.
E
Oh,
I
was
just
thinking
that
one
thing
to
consider
is
most
startups
want
to
be
purchased
or
ipo'd,
so
they
have
a
certain
time
frame
that
they're
working
under
in
order
to
pay
back
investors,
it's
kind
of
like
the
clock,
starts
ticking
once
they
get
that
investment,
so
we
definitely
have
a
different
perspective
is
like
what's
the
long-term
goal
for
us,
so
to
me,
five
years
sounds
good,
but
you're
right.
I
think
it's
something
we
should
look
more
into
and
just
like
to
talk
discuss
as
a
community
like.
What's
what's
what's
our
purpose?
C
C
I
think
more
stable
coins
now
like
what
that
ultimate
endpoint
is
whether
that's
like
five
years
of
runway,
I'm
not
exactly
sure
but,
like
I
think,
for
at
least
for
like
this
treasury
authorization
proposal,
I
think
we,
regardless
of
where
we
fall
in
the
long
term.
Like
thing,
I
think
we
should
feel
comfortable
with,
like
okay,
give
them
where
the
market
is
right.
Now,
given
where
we're
like.
C
Moving
in
the
products
like,
I
think,
five
million
dollars
committing
to
five
million
dollars
of
like
the
next
three
to
four
months,
seems
about
right
and
then,
after
that,
we'll
kind
of
like
understand
a
bit
more
but
like
it
is.
I
mean
there
are
like
lots
of
existential
questions
about
like
the
meaning
of
the
treasury,
how
it
like
kind
of
aligns
with
things
that
I
don't
know.
If
we'll
be
able
to
address
in
this,
but
I
think,
like,
broadly
speaking,
we're
in
agreement
on
like
where
the
the
short-term
direction
is.
A
Yeah,
a
cool,
a
cool
thing
that
could
be
published
to
the
community,
and
this
is
something
that
no
I've
never
seen
a
crypto
project
do
is
in
our
current
state
and
then
in
our
state
with
another
another
five
million
dollars
of
of
stable
coins
like
if
the
market
goes,
you
know
into
a
bear
market,
a
semi-bear
market
extreme,
bear
market
or
a
bull
market.
A
Extreme
bull
market
like
in
in
seven
different
scenarios,
given
our
budget,
given
our
treasury,
what
are
like,
how
that
affects
our
runway
like
in
those
different
scenarios
and-
and
it
will
very
publicly
show
the
world
that
we
are
thinking
about
this
and
that
dx
dao
is
here
for
the
long
term
and
wants
to
survive
and
build
through
a
bear
market
and
I've
never
seen
any
project.
Do
that,
and
so
that,
maybe
maybe
dave
or
with
some
help
of
us
we
could.
We
could
publish
something
like
that
as
a
separate
report.
F
Yeah,
I
also
just
wanted
to
say
that
one
of
the
dates
that
are
important
for
dxe
is
they
open
until
at
least
or
something
like
that
that
that's
a
that's
the
value
that
is
on
the
dxe
cure.
So,
after
a
certain
date
yeah
after
a
certain
date,
you
are
able
to
close
the
the
bonding
carry.
If
you
send
enough,
if
you
send
enough
ether
to
the
euro,
you
can
actually
close
it,
because
that
will
end
up
the
the
dxe
cure
cycle.
So
there
we
have
a
date
that
was
set
to.
F
I
think
it
was
set
to
five
years
when
we
created
the
cure.
So
maybe
we
can
use
that
we
can
use
that
date
as
an
estimation
to
get
okay.
We
can
get
enough
funds
to
have
a
wrong
way
till
we
are
able
to
cross
the
cure,
and
then
we
can
recap
and
see
how
much
ether
do
we
have?
How
much
revenue
did
we
generated?
F
Are
we
sending
it
back
to
the
cure
if
we
got
enough
to
close
the
bonding
curve,
which
I
think
that
would
be
the
ideal
scenario
that
is,
that
will
be
the
game
over
like
if
you,
if
you
raise
enough
money
to
close
the
curve,
that's
it
like.
You
can
only
kind
of
like
already
won
the
game,
so
that's
a
date
that
we
said.
Maybe
we
can
use
it.
F
You
cannot
change
it.
I
mean
you
can
change
it.
You
can
put
it.
You
can
make
it
longer
if
you
want,
but
you
cannot
use
a
lower
number.
D
I
think
most
people
probably
don't
know
what
is
meant
by
closing
the
curve
and
I'm
even
a
little
rusty
on
what
the
definition
of
that
was.
Do
you
know
of
you
still.
F
I
I
think
it
was
like,
if
you
sent
enough
ether
to
to
be
able
to
sell
all
the
all
the
all
the
tokens
at
the
last
at
the
at
last
buying
price.
That's
it
you!
You
are
able
to
close
it,
but
you
need
to
have
you
need
to
send
that
a
ton
of
effort
to
being
able
for
everyone
to
sell
their
tokens
at
the
last
buy
price
so.
D
The
last
buy
price
of
the
curve
was
a
little
over
one.
Eighth,
so
I
think,
like
that
number
would
be
like
a
150
000
each
or
something,
then,
is
that
what
it
would
be
to
cover
the
total
split
yeah.
D
This
is
like
a
fair
mint
like
a
feature
of
the
ferments
smart
contracts
that
are
that
are
the
bonding
curve
like
in
it's.
It's
actually
possible
to
like
close
the
curve
by
sending
like
enough
ether
to
it,
to
like.
A
Can
it
becomes
a
true
bonding
curve
like
like
how
avogadro
works,
where
at
any
time
anyone
can
sell
onto
the
curve
anyone
can
buy
from
the
curve,
and
it's
always
the
same
price,
and
that
price
moves
up
and
down
the
curve,
but
as
as
more
and
more
revenue
is
produced,
it
goes
into
the
curve
as
well,
and
so,
if
you
just
hold
it,
you
hold
the
token
that
buy
price
cell
will
grind
up
the
curve
over
time,
but
at
any
time
anyone
can
exit
their
position
by
just
selling
onto
the
curve.
At
that
price.
A
C
F
Exactly
the
important
part
here
is
that
it
might,
it
might
look
that
is
not
doing
anything,
but
it's
what
it
what
belongs
to
the
exit
holder,
so
it's
like
you
are
paying
them
back.
I
know,
but
I
bet.
C
F
This
is
separating
now
when
we
update
the
cure-
maybe
it
will
be.
Maybe
it
will
make
sense
to
have
a
dxd
guild
that
is
going
to
decide
what
they
want
to
do
with
their
buyback
reserve,
but
eventually
they
are
the
only
ones
who
can
decide
over
that
over
that
funds.
What
now
right
now
you're
right?
They
cannot
do
anything
with
it,
but
they
don't
have
the
option
they.
They
don't
have
the
the
option
to
choose.
What
do
they
want
to
do
with
so.
A
C
I
mean,
I
think
we
need
to
we'll
figure
out
kind
of
a
long-term
solution
that
I
think
that
is
ultimately
how
this
questions
guy,
that
you're
talking
about
of
like
treasury
value,
get
translated
into
dxd.
It's
through
that.
But
I
think
that's
separate
from
that,
like
we
can
still
more
move
forward
with
like
diversification
of
the
treasury
to
like
drive
to
help
support
products,
and
you
know
eventually.
C
D
Cool
yeah,
that's
so
I'm
looking
at
the
definition
of
closing
the
curve
in
fairfield
right
now.
I
think
it's
a
little
bit
technical
and
maybe
not
something
that
we
would
never
touch
like.
But
it's
an
interesting
point
that
augusta
brought
up.
It's
just
like
this
technical
feature.
That
is
there
and
I
think
sky,
you're
you're,
basically
right,
like
with
the
halt
of
the
bonding
curve.
It
really
sort
of
like
precludes
closing
it
like
it
doesn't
really
make
sense
to
close,
because.
D
A
But
like
I,
if
you,
if
you
guys,
are
familiar
with
like
other
bonding
curves,
whether
like
in
art
or
like
there's
they're,
I
mean
they're
kind
of
ponzi
schemes
right
but
like
they're,
they
actually
work.
So
it
like
the
avogadro
bonding
curve.
You
can
go
on
there
and
you
can
buy
or
sell
your
ave,
your
your
your
whatever
the
ghost
token
at
any
time,
and
so
that's
actually
an
augusto
and
I've
talked
about
this.
A
A
bunch
in
the
past
when,
like
the
whole
debate
about
holding
the
curve
was
happening,
is
like
in
the
that's,
a
really
cool
idea.
The
problem
is,
it's
super
capital
inefficient
to
get
to
the
point
where,
like
dx,
dow
turned
into
a
curve
where
at
any
time,
if
you
don't,
if
you're
not
happy
with
the
dx,
what
dx
dow
workers
are
doing.
A
D
It's
almost
like,
instead
of
a
buy
back
reserve,
wouldn't
it
be
better
if
that
capital
was
creating
a
yield
which
was
actively
buying
and
burning
txd
at
the
current
price
right,
instead
of
just
putting
a
very
low
floor
under
the
price
and
remaining
inactive
yeah
in
theory,
that
kind
of
thing
is
is
possible
with
an
upgrade
to
the
curve.
It's.
F
D
C
And
make
those
changes,
but
so
just
to
shout,
because
I
actually
put
this
my
last
work
proposal.
I
think
this
is
something
we
eventually
need
to
like
tackle,
and
this
is
not
something
we
can
just
like
figure
out
now
and
it's
not
even
just
a
technical
change.
We
have
to
figure
out
like
consensus,
but
I
think
we
should
like
spend
like
create
a
working
group
on
this
and,
like
you
know,
talk
about
this
over
over
a
couple
months
to
to
figure
out
exactly
what
to
do
here,
because.
C
Pretty
close
to,
like,
I
think,
upgrading
it
to
something
similar
could
really
unlock
a
lot
of
capability,
and
I
think
it's
ultimately
like
just
unlocking
capital
efficiency
like
it's
really.
The
same
thing
like
fey
is
doing
right.
It's
the
same
idea,
it's
like,
oh
well!
What,
if
you
can
create
like
two
billion
dollars
worth
of
stable
coins,
but
not
have
to
have
two
like
three
billion
dollars
worth
of
eth
backing
it
right
like
then,
you
could
have
one
billion
dollars
worth
of
ease,
backing
it
and
create
two
billion
dollars
worth
of
stable
coins.
C
It's
just
like
a
much
more
capital
efficient
thing
so
anyway,
I
think
this
is
something
we
we
need
to
devote
a
working
group
to.
D
I'm
not
sure
what
it
has
to
do
with
faye.
I
don't
know
much
about
faye,
it's
capital
efficiency,
but
the
dsd.
A
D
C
Well,
in
maker,
you
need
to
be
over
collateralized
to
produce
dye
and
that's
similar
to
like
the
bonding
group
now,
because
the
ethan
maker
is
not
actually
doing
anything,
it's
just
sitting
there
it's
backing
down,
whereas
in
fey
the
eath
there's
less
heat,
then
eath
is
also
sitting
in
the
unispot
pool
itself,
supporting
liquidity
of
so
it's
just
becoming
more
capital
efficient.
And
that's
all
I'm
saying.
A
C
So
food
uses
a
bonding
curve
is
the
reason
I
compared
it
to
them.
There's
bonding
curves
everywhere.
Uniswap
is
a
bonding
curve,
like
all
of
the
all
of
the
lending
platforms
are
all
bonding.
Curves.
F
F
The
the
buyback
reset
belongs
to
dxe
holders,
and
here
we
have
to
be
very
careful
on
how
we
I
know
we
shouldn't
impose
any
weight
for
using
the
blackberry,
so
we
should
enable
dxc
holders
for
them
to
be
enabled
to
decide.
Okay,
we
want
to
use
the
bible
reserve,
I
know
to
to
generate
the
yield
revenue
on
putting
the
ether.
I
know
swapper
pool
for
example
anyway,
so
we
should
be
very
careful
there,
because
if
we
take
ownership
over
that
too
and
say
now,
the
bike
bar
reserve
is
going
to
be
used
here.
F
F
A
Cool,
so
we're
getting
near
the
end
here
and
there's
another
call
after
this,
but
in
terms
of
resources
and
workers.
You
know
now
with
melanie
here
and
and
ali
as
well
with
a
new
candidate
that
I
was
in
touch
with
them.
I'm
like
putting
that
candidate
through
the
people
mover
funnel
and
seeing
how,
like
they
don't
know
much
about
dx
dow,
and
you
know
I've.
I've
talked
a
little
bit
but
like
it's,
it
was
it's
the.
A
It
would
be
a
good
test
of
of
how
a
brand
new
comer
can
can
learn
more
about
dxdow.
What
the
opportunities
are
where
that
person
could
contribute
and
then
if
they
want
to
move
ahead
and
start
contributing
in
some
full
manner
or
a
small
manner
there.
The
dxdot
open
position
stock
still
is
missing.
You
know
there
are
a
few
different
ones
that
are
that
are
finished
and
are
like
solidified
as
their
own
position.
A
Open
position
document,
there's
still
a
few
positions
on
there
which
were
listed,
but
don't
have
really
good
descriptions
for
like
how
someone
could
understand
what
that
position
means
and
what
they
could
do.
So
if
people
could
look
at
that
dock
and
fill
out
any
of
those
open,
unfinished
positions,
then
with
recruiting
we're
still,
I
don't
know
if
there
is
a
proposal,
but
I
think
there's
going
to
be
a
proposal
for
the
with
working
with
the
recruiting
firm
to
potentially
look
for
a
a
marketing
lead
yeah.
Just
that's.
A
Cool
and
then
the
last
thing
was
there,
there
has
been
discussion
around
like
worker
compensation
and
maybe
doing
a
refresh
of
it
and
a
slash,
an
update.
There
were
some
dow
talk
posts
that
from
outsiders
that
potentially
it
should
be
increased
there
were
there
were.
There
was
pushback
from
one
or
more
dxd
and
community
members
that,
like
seeing
results
and
and
and
actions
and
accomplishments
from
the
ex
tao
are
important
before
things
are
changed
or
updated.
A
A
It
really
is
like
four
or
five,
like
micro
startups
of
different
products
and
different
focuses
all
within
dx,
dow
so
like,
even
though
we
have
a
big
crowd
here,
it's
everyone's
working
on
lots
of
different
things,
and
and
we
have
lots
of
different
things
going
on.
So
it's
not
it's
not
like.
We
have
major
like
major
solid
teams
like
most
projects
in
the
space
have
just
one
single
product
that
they're
working
on
and
they
have
10
15
20
people
just
working
on
that
one
product.
A
We
have
like
at
least
four
different
initiatives
and
products
that
we're
working
on,
and
so
when
we
have
the
resources
and
we
just
we,
we,
I
think
we
need
to
fill
to
to
fill
out
the
the
missing
pieces
that
we
they're
missing
in.
A
Oh
there's
a
I've.
I've
encountered
and
I've
been
looking
out
for
and
and
trying
to
help,
but
I've
encountered
a
few
people
over
the
last
couple
months
that
have
been
doing
worker
proposals
or
dxd
proposals,
and
it
seems
like
some
people
just
like
do,
propose
like
there's
a
lot
of
incorrect
proposals.
Basically
and
then
that's
luckily
it's
on
xdi.
So
it's
it's
not
it's
not
a
big
deal
like
you
can
just
do
another
one.
A
Exactly
because,
there's
obviously
still
this
weird
confusion
and
like
a
lot
of
people
are
requesting
x,
dxd,
like
first
of
all,
there
is
no
xdxd
and
second
of
all,
you
don't
request
xdxd
to
yourself,
because
it
has
to
go
into
a
vesting
contract
if
you're
going
to
get
dxd
and
that's
mainly
on
mainnet
and
the
vesting
contract.
Unless
you
set
it
up,
yourself
doesn't
exist
and
it's
we're
working
on
a
better
system
for
it,
but
like
wreck
recording
what
the
numbers
of
the
rep
and
the
dhc
in
your
proposal
is.
A
A
We
haven't
made
it
clear
that
how
what
the
process
is
supposed
to
be.
Basically,
it's
not
blaming
anyone.
People
are
trying
to
like
be
self-sufficient
and
do
their
own
proposal,
but,
like
checking
with
other
people,
is
a
way
to
like
make
sure
you
get
it
right.
The
first
time
I
think
so.
We
have
a
couple
outstanding
ones
that
are
like
that,
so
feel
free
to
reach
out
I'm
happy
to
talk
through
any
of
them
with
anyone.
So.
D
Yeah,
that's
a
good
point
about
cluttering,
the
ui
and
I'll
talk
to
dobstack
about
hopefully
kind
of
improving
upon
that
and
yeah
it's
great
to
see
melanie
and
ali
helping
people
through
the
process
and
stuff.
I
think
that's
going
to
make
everything
more
efficient
and
really
enable
us
to
recruit
to
the
level
that
we
need
to
to
really
like
fill
out
the
teams
and
also
just
great,
to
see
dave's
presentation
today,
super
legit
and
awesome
to
see
such
a
great
breakdown
of
the
treasury.
A
D
No,
we
can't
hide
them.
I
mean
there's
a
couple
of
things
right
like
on
on
next
night.
The
expired
ones
aren't
getting
removed,
so
that's
just
a
little
bug
that
could
be
fixed
in
alchemy,
something
that
could
be
done
in
terms
of
like
incorrect
proposals.
Just
kind
of
building
up
and
cluttering
like
the
queue
is-
and
we
did
this
on
next
day.
Actually,
we
shortened
the
period
a
little
bit
compared
to
mainnet,
but
you
could
have
proposals
expire
more
quickly,
so
that
like
when
something
is
incorrectly
proposed.
F
D
Yeah,
the
status
of
that
is
they've
been
super
slow,
unfortunately,
but
the
smart
contracts
are
like
ready
for
review,
and
the
last
message
I
had
with
andy
from
blackrock
at
this
earlier
this
week
was
asking
him
to
give
me
a
link
to
make
it
public,
so
I
could
share
it.
They
actually
put
in
a
payment
proposal
on
nextdie,
and
I
said
I
was
waiting
to
boost
it
just
until
I
could
like
share
their
actual
work.
So
that
was
my
last
message.
Andy
was
like
to
ask
for
that
link.
They.
D
They
had
also
committed
to
doing
like
a
simple
ui.
I
don't
know
if
that's
been
started
yet,
but
we
can
oh.
F
D
F
Yeah
definitely
just
want
to
say
we
should
find
people
more
committed
to
that
because
they
cannot
take
that
much
time.
For,
for
that
I
mean
we
started
talking
about
december
and
it's
super.
We
need
that.
We
need
that
because
we
cannot
be
creating
dxd
best
in
contra
on
on
mainnet
for
each
proposal
right,
so
we
actually
need
that.
I
have
two
or
three
investing
that
I
haven't
done
it
yet
and
I
think
other
workers
too.
So
all
that
thing
is
yeah.
It's
been,
you
know,
it's
been
part
down
like
yeah.
D
Yeah,
it's
a
big
problem.
Obviously
it
kind
of
hurt
it
makes
dave's
job
more
difficult
with
the
accounting
right.
I
think
the
one
good
thing
is
because
there's
a
one-year
cliff,
it's
not
like
people
aren't
getting
something
in
their
hands
that
they
would
have
anyways,
but
it's
it's
at
least
an
accounting
problem
that
we
need
to
fix.
So
unless
we
don't
have
it
for
a
year,
yeah
sorry,
unless
we
don't
get
it
right
for
the
year,
it
needs
to
be
solved
within
the
next
few
months
and
yeah
we're
the
smart
contracts
are
ready.
E
Cool
something
else
this
is
like
kind
of
late
in
the
call,
but
something
that's
come
to
my
attention
that
I'll
want
to
bring
up
and
speak
with
everyone
about
at
a
later
time
is
that
I
think,
for
all
of
our
accounting
purposes,
the
way
that
the
blocks
are
processed
from
after
the
one
year
brought
bl
vesting
cliff
through
the
second
year
could
be
an
accounting
nightmare
when
it
comes
to
tax
season.