Discover more from Coinshift Newsletter
$8M in payouts, $195M assets imported & NewsFlash, MultiSafe updates, to establish Treasury committee & Hackathon Funding Proposal, Alchemix Bond Program, and collaboration with Olympus, etc...
🌈 Hey MultiSafers,
There is a little benefit of this networked world and that is - Synchronized, real-time interaction that can be done by multiple ways, at our own pace.
That’s why we bring you the weekly updates on MultiSafe along with the updates on Crypto treasury.
Check NewsFlash! We’ve got few more updates for you.
Latest MultiSafe Stats
Total Users - 124
Payouts - $8M ✅
Total assets - $195 Million ✅
How about sharing the newsletter with your peers or the ones you find would be interested.
Do you know - We spend a lot of time creating the best Treasury management software. And our driving force is your feedback. So reach out to us at - Discord Channel
Every response will be read. ✌️
For any feedback - Join our Discord Channel
🔥 This week in MultiSafe
This week we majorly focused on stabilizing the current system to provide a more seamless experience to our users.
🙌 Optimising Latency
We have been working hard on optimizing certain operations on MultiSafe. For example, we have optimized the API for getting the safe owners info, nonce, and threshold of the account to less than 1 second. Previously we got the details from the gnosis safe API and now we have built our own method using a multicall library.
🙌 Zero downtime deployment
We have built the zero-downtime deployment architecture for both backend and frontend servers. Previously we need to take down the servers for some time to push the new release one production.
Adding notes to the external transactions including gnosis and incoming transactions.
Big news soon. Stay tuned!
🔥 What’s new in crypto Treasury
👉 Rarible DAO to establish Treasury committee
Rarible protocol is all set to establish a treasury committee that acts and takes decisions according to the market conditions to what suits best for the treasury.
The treasury is primarily having RARI tokens which they foresee to diversify in order to sustain in volatile market conditions. 25% of treasury balance will be untouched and would require DAO approval for transaction.
The main goal is to preserve and grow the assets by adopting risk averse strategy and attract the best talent in the space.
The community will be updated with the monthly reports and active community calls.
Click here to read more and vote for this proposal.
👉 Rarible DAO’s Hackathon Funding Proposal
With $100,000 in RARI tokens, the funds are utilised to sponsor Hackathons, provide bounties and fund hackathon related activities.
The main aim is to get exposure and help grow DAO with more circulation of RARI tokens within the ecosystem. Eric Arsenault is one of the member of Rarible’s treasury committee and representative of the hackathon ensuring the funds to be utilised properly.
The community will be updated about the success via community calls led by respective representatives of each hackathon.
Click here to read more.
👉 Alchemix’s Bond Program
Alchemix has come up with Alchemix bond program in partnership with Olympus in which Olympus is offering it’s bonding program to Alchemix. As the community expressed that the emission is too high i.e approx 16k ALCX weekly.
Initially targeting three liquidity pools like ALCX/ETH SLP, alUSD3CRV LP, and alETH Saddle LP to measure the outcome of this bond.
While CRV and CVX will be used to boost pool in Curve and the 3CRV rewards would be added back into the alUSD3CRV pool for more liquidity boost. This reducing sell pressure on ALCX and increases CVX holdings. On top of that, other governance tokens can become a proxy for Alchemix meta-governance, collateral assets, grant money, emergency rainy-day fund, token value accrual, or deployed in DeFi to earn extra yield.
The main aim is to build create sustainable, permanent liquidity for the protocol and provide additional revenue to the DAO in a variety of tokens, helping grow and enhance ecosystem in different ways.
Click here to read more.
👉 YAM’s update on contributor compensation
YAM wants to pay its full-time and part-time contributors in both Stable coins (DAI, USDC) and YAM tokens with 6 months vesting period.
And if the contributor wants larger amount in YAM then they can get without vesting with the condition that 30% will always be vested. This is done so that these contributors do not sell YAM immediately and get the benefit of it.
The 6 month vesting works like the YAM is deposited into the stream at the beginning of the 6 month period and is inaccessible for 6 months. Once the 6 month mark has been hit, the stream starts and the funds are released over the next 6 months.
Click here to read more about it.
👉 IndexCoop’s OTC sale
In April, a proposal was passed in which community agreed to to raise $10 million through a direct sale of the INDEX token to select investors. And the second round is being closed as each fund committed for the remaining $2.25 million in June.
Now, Indexcoop is selling 92,759 INDEX tokens to Sequoia Capital, White Star Capital, and Blockchain.com Ventures at a price of $24.26 USDC per INDEX to complete remaining $2.25 million directly to their treasury.
In this OTC sale, these token holders will provide USDC to Indexcoop.
Sequoia Capital - $1 million
White Star Capital - $500 thousand
Blockchain.com Ventures - $750 thousand
OTC sale is live and community can vote in order to approve or disapprove.
Click here to know more specifications.
If you’ve got thoughts on what should be discussed or any other feedback. Join us at our - Discord Channel
👋 👀 See ya’ll next week!
MultiSafe aims to simplify crypto treasury management for Companies & DAOs - built using Gnosis Safe, IPFS & Filecoin.
Stay connected. Stay Awesome 🤘