This Week in SquidDAO — December 12, 2021
Welcome to our weekly recap of all things SquidDAO for the week ending December 12, 2021. We had another action-packed week so let’s jump right in.
Team Changes
Firstly, big congratulations to our key community members, zoption and Zencephalopod for being promoted to Helmsmen at the start of the week. Each of these two enterprising souls have been massive contributors to our success with zoption being one of the brains behind SquidOHMas and Zencephalopod providing a great deal of input on the engineering side of things, not to mention his army of Discord bots!
SquidDAO Policy Team
Kraken successfully established a SquidDAO policy team, 40 votes in favor, 0 votes against. From the Snapshot: The ‘Policy Team’ powers will cover all policy decisions including: changes to bonding, addition of new assets for bond, changes in APY, and generally all decisions related to SquidDAO’s policy.
The Snapshot for election of team members just closed, so we can expect an announcement on this shortly. Currently, it looks like the initial Policy Team will comprise: Squid3, 0xvisual, BlindSquirrel, Letters and Arcrenciel, provided each of them agree to participate. We’ll look out for further news on this one.
Evolution of SQUID: veSQUID Launched!
The biggest news from a token perspective was the announcement of veSQUID. While there were some initial hiccups with the implementation, it is now possible to lock your sSQUID for a period from 1 to 4 years. in huge news, the protocol’s largest investor and backer, machibigbrother, max locked his 11 SQUID for 4 years (!!). This doesn’t mean max locking makes sense for you — all individuals’ circumstances are different. We put together an explanatory article on veSQUID. Please read larvae, so you can make an informed squidvestment!
12 Days of SquidOHMas
While SquidDAO has been fortunate to make investments with a number of excellent protocols, we announced probably our largest partnership in our brief history by launching 12 Days of SquidOHMas — a partnership with OlympusDAO to launch a limited edition NFT collaboration spanning 12 NFTs from Squid 83 to Squid 94. Unlike our other auctions to date, we are only accepting bids in OHM. OHM raised from these auctions has already been staked so that we can benefit from OHMonomics! There are additional plans afoot for the OHM that are currently being discussed and voted on by Kraken such as a potential creation of an LP pool involving OHM — details of which are still being ironed out. Regardless, we’re extremely excited about this collaboration as it could form the blueprint for future collaborations with other key DeFi protocols. Also check out our Medium article for more details on this partnership.
yAxis Partnership
On December 9, we also announced our partnership with yAxis, through which we completed an OTC trade for 85,000 $yaxis which are now max-locked and will give SquidDAO a significant percentage of the yAxis gauge. It is our intent that this will enable higher yield farming strategies as we look to grow SquidDAO’s treasury.
ICYMI:
Some interesting articles to read and podcasts that you may want to listen to this week include:
