DDAO Report July 2022

Hello dear vEmpions, we’re very excited to share this update on what has been cooking in vEmpire DDAO for the past two months!

DDAO Strategy

Last week we paid out our profits to our DDAO and we did an 80/20 split where the 20% of the revenue has been used to buyback VEMP from the market and transfer it to our DDAO stakers instead of the native currency.

  • Sand
    A total of 769.6 SAND and 8893 VEMP* have been sent to the DDAO stakers
  • ETH
    A total of 7.7 ETH & 45k VEMP* have been sent to the DDAO stakers

*BSC Stakers have also received an equivalent amount of VEMP

Investment Arena

One of our goals as an organisation is to act as a gateway to the metaverse and not only provide ease of access to metaverse assets for people, but become a platform where inspiring projects can find new audiences.

That’s why this month we held an Investment Arena competition where 16 of our partners’ communities fought for a 10k investment from the DDAO. The competition lasted from 28.06 until 19.07 and more than 4000 community members joined to support their projects. In the end, Ethereum Towers grabbed the win and the 10k investment!

DDAO Decisions

With the recent bear market conditions, the team decided to propose to the DDAO an opening of a stablecoin staking pool for people to keep their funds SAFU and earn some income on the side.

We put up two proposals on snapshot (https://snapshot.org/#/v-empire.eth). The first proposal was to determine the network on which we’ll launch the stablecoin pool and by a slight margin the community decided to use BSC. The second proposal was put forward to choose the coin and USDC won by an overwhelming majority.

The pool is now live and you can enjoy 234% APR, at time of writing. To stake, go to https://app.v-empire.io/worlds and connect with your Metamask wallet by using the Binance Smart Chain.

Future plans for the DDAO

In the next months we plan on entirely overworking the way that vEmpire DDAO functions as an organisation. We plan on presenting a functional decentralised structure where everyone from our community will be able to get compensated for their contribution to the DDAO based on their skillset and achievements. Roles will be assigned to the people in DDAO and small dynamic teams will be created to expedite decision-making and finishing tasks.

If you believe in what vEmpire stands for and can help us with your skills and expertise, please reach out to us via our Telegram or Discord!

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