Mid-Year Run-$DOWN

BruceTheGoose.Eth
6 min readJun 13, 2023
credit — Gladeye - https://atelier.net/virtual-economy/

The Rise of $DOWN — Q3 Update
Defying the bear market with unwavering determination!

GM Anons!

We acknowledge that our communication has been relatively quiet lately, and it may give the impression that the development of the $DOWN Vault ecosystem has been stagnant throughout most of the year. However, that couldn’t be further from the truth. Behind the scenes, significant progress has been made, despite the challenges of being a solo project manager. Today, we will shed light on the updates that haven’t received much attention yet.

We’ll discuss ongoing projects, recent deployments, and unforeseen obstacles encountered with third-party platforms. Fortunately, in the world of crypto, everything is highly composable, allowing us to adapt and overcome. Let’s dive into the details!

Here’s what we’ll cover:

NFT Gachapon

Farewell to DeBets

Introducing the $DOWN Lottery

Unveiling the Game of KEKs

AI Tools for the Future

Embarking on the $DOWN Town Multiverse

NF-Tea Time Podcast Resurrection

Transitioning from Satin to Retro

Exploring the Potential of Bonds

OpenCord: A Web3 Alternative

Unleashing GPT-Powered DAOs

**As you can see, there’s a lot to cover, which has contributed to the intermittent updates. I take responsibility for my subpar organizational skills and involvement in numerous projects simultaneously. However, we aim to address all aspects comprehensively. Let’s delve into the specifics.

But first, a meme:

  1. NFT Gachapon
    We’re thrilled to announce the recent deployment of the $DOWN Decentralized Gachapon machine, powered by battle-tested smart contracts developed by Doki Doki Finance. For a cost of $20 USDC per spin, users can receive a random NFT prize while simultaneously contributing to the $DOWN DAO treasury and the $DOWN Vault. Although some prizes are rarer and more valuable, every spin guarantees a prize distribution: $10 to the DAO, $5 to the Vault, and $5 to Bruce.
  2. Farewell to DeBets
    Our brief excitement for the permissionless platform DeBets.org, with its plans for decentralized casino games integrated with ERC20 tokens, came to an end. Unfortunately, the platform has been taken down, possibly due to market conditions, regulatory concerns, or other unknown factors. Nevertheless, we believe in the power of composability and will create our own interface to interact with smart contracts, allowing $DOWN holders to enjoy gambling experiences with their coins.
  3. Introducing the $DOWN Lottery
    In our pursuit of thrilling experiences, we recently launched an automated lottery game utilizing $DOWN as entries and prizes. This perpetual lottery draws prizes from ticket sales, with each ticket priced at 50 $DOWN. Every 25 ticket sales, a winner is chosen, offering an opportunity to win 25 times the ticket price (minus a minor fee paid to the $DOWN Vault).
  4. Unveiling the Game of KEKs We’re keeping the details of the Game of KEKs under wraps for now. What we can reveal is that it presents a gamified collecting experience loosely inspired by Checks. It starts with an open edition NFT, available for minting. As a bonus, you can earn a 5% referral bonus on any mints originating from your personalized referral link. Additionally, a portion of the revenue generated by the Game of KEKs NFTs will be automatically deposited into the $DOWN Vault.
  5. AI Tools for the Future
    We are venturing into the realm of custom-trained generative AI models, designed to enhance the crypto ecosystem and extend into Web 2. Owning $DOWN tokens will soon become a prerequisite for accessing a variety of AI models with diverse functions. These AI tools will contribute to additional revenue streams, further strengthening the value of $DOWN Vault tokens.
  6. Embarking on the $DOWN Town Multiverse
    The $DOWN Town Multiverse is a vast and exciting endeavor that deserves its own dedicated post. In summary, there are numerous unused spaces within the Metaverse, locked away among my extensive collection of NFTs. It’s wasteful not to utilize these locations for the benefit of the $DOWN community. Soon, we’ll hold a building contest, allowing community members to transform these spaces into vibrant hubs for events, galleries, concerts, talk shows, and more. Our long-term vision is to integrate all accumulated Metaverse properties into a multi-modal, multi-metaverse experiential network known as $DOWN Town. Stay tuned for updates!
  7. NF-Tea Time Podcast Resurrection
    After a hiatus, the NF-Tea Time podcast is making a comeback with a twist. Rather than rushing to secure guests before recording, we’ll engage in real-time discussions (yes, vocal discussions) with various AI personas, NFT project representatives, individuals facing similar challenges in the crypto world, and perhaps even conduct “man on the street” style interviews to infuse unpredictability into the routine.
  8. Transitioning from Satin to Retro
    While the discontinuation of the Satin dex and one of our staking programs may have affected only a few, we are adapting to the evolving landscape. The Satin team plans to re-deploy with updated contracts under the name Retro.Finance. We’ll see what happens on their part this month. In the meantime, yield farming campaigns will be redeployed, enabling LPs to stake their placeholder tokens from the ETH/MATIC/DOWN weighted pool on Balancer. Additionally, we will introduce an additional staking program utilizing LP tokens from Unipilot, a concentrated liquidity protocol built on top of Uniswap V3.
  9. Exploring the Potential of Bonds Although neglected due to my busy schedule (for which I take full responsibility), the NFT bonds program holds immense promise. Modeled loosely after the widely adopted Olympus DAO bonding mechanism, our approach distinguishes itself by vesting tokens exclusively to owners of NFT bonds. These bonds will be sold at a discounted rate compared to the market value of $DOWN, entitling the NFTs themselves to claim $DOWN over time based on their token ID. This innovative method ensures revenue generated will be matched with $DOWN from the DAO treasury, enriching liquidity pools, expanding the DAO’s POL holdings, and fostering equitable distribution among various pools.
  10. Exciting Collaborations
    We’re thrilled to announce upcoming collaborations that will strengthen our ecosystem. Stay tuned for updates as we join forces with like-minded projects to create synergies, drive innovation, and enhance the value proposition of $DOWN.
  11. OpenCord:
    A Web3 Alternative Discord, Telegram, and Twitter have become somewhat of a bane for all of us. If you’ve spent excessive time on these platforms since 2022, imagine our plight, clocking over 60 hours per week in the space since 2020. Finally, a web3-native alternative to Discord has emerged, showing promise as a suitable replacement. While we don’t expect everyone to abandon Discord entirely, we will prioritize posting crucial updates and information on OpenCord. We’re also exploring other tools, although many still require significant improvements. Look out for important info in OpenCord and DAO Manager.
  • ***\*Ahem\****
  1. CENTAURS.
    Today, we stumbled upon an intriguing concept that holds tremendous potential: GPT-Powered DAOs. We’ve previously deployed a Gnosis Safe for the treasury, and a Moloch DAO via DAOhaus, but neither are too far along to migrate if it seems like a solid option; which may even be unnecessary as it seems the Centaurs

With unwavering determination, we’re navigating the bear market while relentlessly progressing the $DOWN Vault ecosystem. Our commitment to transparency and excellence drives us forward, even in challenging times. Join us as we redefine possibilities and continue shaping the future of social tokens and the creator economy. Together, we will triumph over adversity and thrive. The best is yet to come!

LINKS:

Opencord — Where DAOs thrive

A Web3 Social Platform Built for DAOs

s.opencord.xyz

Unipilot | Automated Liquidity

Unipilot optimizes your Uniswap v3 liquidity so you can earn on average 3x more fees

app.unipilot.io

DaoManager by Daolens

Everything about your community in one place

manager.daolens.com

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Q2 Run-$DOWN — $DOWN DAO

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BruceTheGoose.Eth

Discovered NFTs at the end of 2019; which caused my entry to crypto. Day one, I went all in. Day two started 72 straight research hours. I’ve never looked back.