“DefiboxDAO” 2020–12 Monthly Summary and Development Plan
Participants: FrancisSangkuan, DenisCarriere, flyingpig, Eason, cl, yudan, 王者柚: 7 participants in total
Defibox work report from Secretary Eason:
1. In order to comply with regulatory policies, the main work in November consists of several parts:
1.1 Server migration and DAO related development work. The server migration workload is relatively large, and the overall server migration is expected to be completed next week;
1.2 Launch EOS NFT standard documents, hoping to promote the unified standard process of EOS chain NFT.
1.3 Complete the initial construction of DAO, and carry out the transformation and development of the DAO series of proposals: The recent Defibox proposals have been reformed and coordinated with more changes. DAO’s overall incentives also involve many aspects of transformation, such as DAO voting NFT and reward NFT distribution.
2. The main work in December, upgrading the development plan of Defibox:
2.1 Upgrade the three major tracks from the three major protocols of Defi:
Defibox will kick off the new year’s work in the new year in the form of the track combination of Defi+NFT+Game; the Gamebox platform will be released on the EOS chain in the middle of this month. The first milestone to enter the game track.
Gamebox’s core strategy is to provide game manufacturers with a series of services from capital, technology, security, distribution, etc., through the introduction of game manufacturers, and to lay a solid foundation for the introduction of high-quality assets into the EOS ecosystem through chain game transformation and guild introduction. Currently, the Gamebox project is not only supported by game manufacturers, but also endorsed by ENF and Pomelo.
2.2 Reduce BSC chain investment and invite partners from all over the world:
BSC’s Swap has been released for three months and it has failed to meet development expectations. In the near future, it is planned to submit a referendum to suspend the mining of BSC’s Swap and stop the development of the loan protocol. It is planned to open the source code of the Swap protocol and the loan protocol to global partners who have the intention to cooperate in a compliant operation. Under the conditions of cooperation, it will continue to empower Defibox in the form of agreed revenue distribution.
2.3 Join WAX:
As the side chain of EOS, the similarity between the two is extremely high. The cost of deploying the three major protocols by Defibox in the past is relatively low. On the one hand, as one of the main GameFi public chains, WAX has shown a rising trend; on the other hand, there is no good DeFi service on WAX, and the competition is relatively small. Defibox can have a place in WAX, which can not only empower BOX, but also recognize and introduce more WAX game projects to our Gamebox platform. Around mid-December, the team will start deployment at WAX. Currently, Defibox has received support from WAX officials, bp leaders and mainstream game parties.
Denis: The OHM model is currently very popular. Its main focus is DeFi 2.0, which means that the protocol owns assets to support value and liquidity. Has Defibox considered the OHM model?
Eason: We have been paying attention to the OHM model, which is currently a representative project of the DeFi2.0 concept. After being verified by the market, there is indeed something to learn from. As a representative of DeFi1.0, Defibox is also exploring ways to integrate DeFi2.0. But we also know that this model is essentially an upgrade of algorithmic stablecoins, and we have experienced the era of algorithmic stablecoins. Many risks are often in the later stages of the project. If we do not fully understand this model, we will choose to approach carefully. We have contacted the Jumbo project team, another team of this model type. They are the DeFi 2.0 on BSC, and the community and project development are good. We welcome them to develop on EOS in the future, and Defibox will provide necessary assistance.
Flyingpig: Regarding Gamebox, when will we see the first game landing? How many games are there in total?
Eason: This month we mainly focus on the gamebox brand for some market promotion. We are going to attract investment from game manufacturers, let more game manufacturers know EOS and know our support plan. At the same time, we have reached cooperation intentions with four game manufacturers, and several games are already undergoing chain game transformation. It is expected that in the next month, there will be several small games online, and there will be a large game to open the closed beta. In 2022, we predict that it will be the year of the explosion of chain games, and we are fully prepared for this.
Wangzheyou: Are you planning for metaverse?
Eason: The game field will involve metaverse concepts. But we don’t know how to define the real metaverse. If games and AR are part of metaverse, then we are approaching it.
Dalio: Is there an open source plan?
Eason: At present, the specific open source only has a preliminary timetable, and the contract will be open sourced after the WAX chain is deployed. The current realization is that Defibox on the BSC is open sourced, looking for strategic operation partners in the EVM isomorphic chain, who will operate the brand, and we will provide technical support.
Dalio: Can multi-signature BPs meet the requirement for holding BOX tokens?
Eason: From the perspective of one-year bp cooperation, it is still more difficult to have requirements for multi-signature bps, but we consider using DefiboxDAO as an incentive to increase the degree of cooperation of multi-signature bps. In addition, due to regulatory policy reasons, the well-known audit company SlowMist will exit the bp with multiple signings, so we will follow a 4/8 multi-signing mechanism.
Dalio: Other improvements in the economic model?
Eason: The plan is to launch the LP lock-up mode on BSS.
Dalio: Have you considered giving more motivation to the team?
Eason: This protocol income reform has seen a completely different voices between the Chinese-speaking community and the international community. Judging from the results, it has also gained the understanding and support of most box holders. At present, the team does not need more incentives. The current 30% of the protocol revenue can just cover the basic cost of the team, and the 7.5% of the team’s token distribution is already a good incentive. Thanks again to the BOX token owners for their understanding of the Defibox team and support.
Dalio: Clarify the relationship of 10% return as Newdex?
Eason: Newdex exchanged their token rights for 10% of revenue. We have conducted many negotiations, and there is currently no good solution in the short term. If conditions permit, we will consider using the Defibox treasury asset to repurchase 10% of the agreed income.
Dalio: DAO’s gameplay requires a reasonable and scientific mechanism to clarify the responsibilities of the DAO governance team, allocation of funds, division of labor and cooperation, etc.
Eason: Compared to other projects, we are constantly advancing the DAO governance project. All methods and methods are carefully explored, and we hope that all community members can participate more actively in the construction of DAO. Regarding the follow-up proposals after DIP35, please actively participate. Raven will initiate a formal proposal based on the opinions of the community in two days.
Dalio: Regarding the problem of insufficient marketing, what are your plans?
Eason: According to the regulatory policy, marketing will be focused on regions that comply with the policy. This makes Defibox’s a chance to surpass. At present, marketing about DeFi alone is not enough to attract users. Using Gamebox as a promotional point will be the next marketing direction.
Dalio: Talk about the future direction of Defibox, how to empower BOX?
Eason: The general direction in the future is to upgrade the three major DeFi protocols to a combined strategy of Defibox + NFTbox + Gamebox. In addition to these three combinations, multiple satellite protocols that enable BOX in the 2021 roadmap will be released at the same time. Defibox has tested and passed multiple satellite protocols very early, but due to various reasons, it has not been successfully released so far. We and the developers of various satellite protocols are re-examining the code and will be released soon.