OpenSwap Community Update for the week of 04/09/2022
Each week we will recap the latest news and provide an update for the community.
This week we review:
⋄ Project Development Update
⋄ OpenSwap’s DAO Tooling Sneak peak
⋄ WARU Airdrop
⋄ Latest YouTube videos
⋄ OpenX Burn Report
Project Development Update:
⋄ Development continues on the DAO.
⋄ Working to connect the code and smart contracts to the UI.
⋄ The auto-compounder was subject to a reentrancy attack. The attack made the bot and smart contracts fail, but no funds were lost due to the security in the contracts. More info will be released through an incident recap in the coming week.
⋄ New contracts were written to make the auto-compounder more stable and prevent a reoccurrence of the incident mentioned above.
OpenSwap’s DAO tooling sneak peak
On twitter this week, we shared a sneak peak at the DAO tooling platform expected to be released in near future. The exact release date is TBD but work continues on the project. OpenSwap will use the DAO tooling platform to create their own DAO as a proof of concept.
View the OpenDAO Tooling information sheet and mockups here.
The OpenDAO tooling project will allow an organization to manage every aspect of a DAO through a single platform. It is essentially a DAO launchpad, DAO management system, and community platform with the functionality of multi-sig wallet treasury and snapshot voting. Starting with creating a DAO, treasury management, creating a governance token, voting on topics and everything in between.
Create a new DAO in the blink of an eye.
◈Minimal knowledge creation of a DAO
◈Customized settings for a DAO that fits your needs
◈Customized quorum and total votes need settings
◈Create and declare new function calls
Customized settings allowing you to operate your DAO in your own way.
◈NFT Angel authorization to operate like a governor
◈Governance token creation and distribution
◈Manage minting of existing tokens
◈DEX Management (Add LP Pools, change emission rates on LP pools, etc)
◈Trusted address book stored on-chain
Angels manage the DAO treasury with a multitude of tools readily available
◈Multi-sig wallet capability
◈Send funds to a wallet
◈Add or remove liquidity
A community platform allowing discussions, voting, and management.
◈Voting utilizing integrated governance token
◈Community led proposals and discussions
◈Project led proposals and discussions
WARU announced an upcoming airdrop to delegators of 1000+ $ONE on the OpenSwap auto-compounding validator. Additional details will be forth coming.
Latest YouTube videos
How to Delegate or Undelegate to a Harmony ONE Validator and Understand The Election Process
The Power of Presearch for Harmony Community, Setting up a Node, and Keyword Staking
OpenX token burn update on 4/09/2022
Total burned since inception:
⋄ 1,559,747 OpenX burned (↑ 10,042 last 7 days)
OpenSwap (app.openswap.one) is a fast and secure non-custodial decentralized exchange that serves as a one-stop-shop to buy, trade, and earn crypto whether you’re from the Harmony, Ethereum, or Binance Smart Chain networks. OpenSwap allows Harmony users to seamlessly trade peer to peer without the tokens ever leaving the original wallet and through liquidity supplied by other users of the platform. With OpenSwap, users can:
- Exchange Tokens/Coins
- Provide Liquidity to Pools
- Earn Rewards by Staking in Lucrative Incentivized Liquidity Pools
- View ‘Personal Farming Profile’ detailing your rewards including Total Stake Value, Average APR %, Total Current Rewards, and Total Current Rewards in USD
- Simplified Bridge for Tokens/Coins to and from the Harmony, Ethereum, and Binance Smart Chain Network
- Collect Fees on Provided Liquidity Without Staking
- Vote on Governance Decisions, Including Adding New Tokens