Weekly newsletter of DAO highlights / Issue #2

Weekly newsletter of DAO highlights / Issue #2

The year may be winding down but DAOs are still very much active. From Ren’s decision to mint 200 million new tokens to fund future development to concerns about the monthly compensation of ApeCoin DAO’s Special Council, DAO Times presents some of the most interesting topics from the DAO industry over the past week.

Top Stories

ApeCoin DAO considers slashing monthly pay of Special Council

A member of ApeCoin DAO has raised concerns over the monthly compensation members of the group’s Special Council receive. According to the NFT collector known as CypherGlaze, the monthly remuneration should be slashed by five times from a current $20,833 to $4,166.6. Defending his opinion, CypherGlazed argued that being a member of the ApeCoin Council was not exactly a job since there was “no requirement in terms of activity” plus candidates are not required to make it their only occupation.

Ren DAO approves proposal to mint 200M new tokens to fund development

Following Alameda’s bankruptcy filing, Ren protocol has agreed to mint 200 million new tokens to fund future development. The Alameda-funded protocol is left with a runway of just $160,000, which is expected to last until the end of the year. On Wednesday, the DAO voted to mint 200 million new tokens to set up a foundation and push the development of Ren 2.0. At current market prices, the firm could generate up to $13 million from the mint.

SushiSwap to redirect all fees to Treasury

In what could be best described as a battle of whales, SushiSwap DAO has approved a proposal to increase the payout ratio of Kanpai to 100%, up from an initial 10%. The move was spearheaded by Sushi Head Chef Jared Grey, who asserted that the decision was necessary to secure the future of the DAO and “provide the necessary liquidity for ongoing operations.” Moving forward, SUSHI stakers may not receive any rewards for locking their tokens for the next “one year or until new tokenomics are implemented.”

Curve integrates with zkSync 2.0

Leading automated market maker (AMM) protocol, Curve, is set to integrate with zkSync's 2.0 mainnet – the first ZK-Rollup that the protocol will be debuting on. Speaking on the integration, Curve’s CEO Michael Egorov said that zkSync had cracked the problem of Ethereum scaling with its EVM-compatible Layer-2 solution, adding that “we can’t wait to create trustless, low-gas, user-friendly applications on their platform.”

ApeCoin DAO nominates five candidates for Special Council election

Only five out of the forty candidates that applied to join ApeCoin’s Special Council will proceed to the next round - the Special Council election vote. The election vote, which will run from December 22 to 28, will be between veratheape, Matt Solomon, Gerry, herb, and Gerard Hernandez.

Other DAO News

  • Lido DAO is going to onboard four new oracles to its Oracle set following a community vote. The quorum is now set at 5/9. Meanwhile, the DAO has agreed to repay previous gas costs spent by oracles and future gas fees on a regular basis.
  • Doodles DAO will be allocating 62 ETH to expand its weekly community news digest, Thank God its Doodles (TGID), into a community-led media division, spotlighting community activities and aggregating official Doodles content.
  • In a bid to reduce the amount of friction in its community governance process, Uniswap DAO has passed a proposal to introduce some changes to existing processes.

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