revault network Announcements
⚠ LAST PROPOSAL regarding the reward pool is LIVE! ⚠️
https://snapshot.org/#/revault.eth/proposal/0x28b3d8b0ecfe2995eedaab77286db64e28d735a187f2efb62221d825b6289e5f
After reviewing the previous proposals regarding the 500,000 REVA reward pool for previous contributors and the DAO-voted distribution between four parties, the council has congegrated all results into a final distribution.
This suggested distribution can be CONFIRMed or REJECTed.
CONFIRM: Accepts the distribution suggested by the council.
REJECT: Declines the suggested distribution and reopens the discussion for one final revised distribution. If a consensus cannot be found then, the council recommends moving the 500,000 REVA to Korra completely and reserve the funds for future incentives.
Everyone with REVA can vote!
A dedicated thread in Discord was created for the best possible readability again, if you want to discuss the proposal:
https://discord.com/channels/849281468165652522/1227981824739770490/1227981826518417493
🟣 Vote here:
https://snapshot.org/#/revault.eth/proposal/0x28b3d8b0ecfe2995eedaab77286db64e28d735a187f2efb62221d825b6289e5f
👀 NEW PROPOSAL LIVE
https://snapshot.org/#/revault.eth/proposal/0x083155fafc9355b09f92924d980eb6669da4501f9c2ccf2b1861be777a17e3ba
(REPOST)
The DAO approved a 30% (past contributors) / 70% (future contributors) split of the 250,000 REVA reward pool (see #2 in the previous announcement https://t.me/revaultnews/159). A treasury match of these funds to up the total pool to 500,000 REVA is still being decided on (see #1 in the previous announcement)
It will now be determined how the 30% reward pool (meaning 75k or 150k REVA) is distributed among previous participants that otherwise will not be rewarded by the current conversion structure of REVA to KRA.
Please cast your weighted vote between these four parties in this new proposal. It will continue for 7 days. Every single voice counts and is important to achieve a representative result. The proposal features the council's suggestion, but discussions are highly encouraged. A dedicated thread in Discord was created for the best possible readability: https://discord.com/channels/849281468165652522/1215325946635231282
https://snapshot.org/#/revault.eth/proposal/0xe29e3e4fe369e63d39341856807f232a903633ec948dff4d0b044bac99d926b5
👀 NEW PROPOSAL LIVE
https://snapshot.org/#/revault.eth/proposal/0x083155fafc9355b09f92924d980eb6669da4501f9c2ccf2b1861be777a17e3ba
The DAO approved a 30% (past contributors) / 70% (future contributors) split of the 250,000 REVA reward pool (see #2 in the previous announcement https://t.me/revaultnews/159). A treasury match of these funds to up the total pool to 500,000 REVA is still being decided on (see #1 in the previous announcement)
It will now be determined how the 30% reward pool (meaning 75k or 150k REVA) is distributed among previous participants that otherwise will not be rewarded by the current conversion structure of REVA to KRA.
Please cast your weighted vote between these four parties in this new proposal. It will continue for 7 days. Every single voice counts and is important to achieve a representative result. The proposal features the council's suggestion, but discussions are highly encouraged. A dedicated thread in Discord was created for the best possible readability: https://discord.com/channels/849281468165652522/1215325946635231282
https://snapshot.org/#/revault.eth/proposal/0xe29e3e4fe369e63d39341856807f232a903633ec948dff4d0b044bac99d926b5
Two new DAO proposals are live.
1) seeks to match the 250k REVA offered as past rewards and future incentives with an equal amount from the treasury to bolster the reward pool and provide a more substantial amount of tokens.
https://snapshot.org/#/revault.eth/proposal/0x083155fafc9355b09f92924d980eb6669da4501f9c2ccf2b1861be777a17e3ba
2) determines how the pool is distributed between Revault rewards for past contributions and future DAO-determined incentives for help with Korra in its infancy. The team suggested a 20% past / 80% future split, the council suggests a 30/70 split instead. The third option "OTHER" proposes to revisit this discussion and going with a different split. Like the first proposal to determine the council, this proposal uses quadratic voting, meaning you can weigh your answers between the three options. Bigger token amounts will have diminishing returns.
https://snapshot.org/#/revault.eth/proposal/0xe957d8e618d22217989ef36ea0510efad4b161595a21709c4a746aaaf9a9b072
Community Update Feb 2024
Dear Community,
Happy Friday! We hope this update finds you well. We'd like to share some exciting developments and initiatives that will shape the future of Korra. After some constructive discussions with DAO members, including community figures like @Boioink and @RealCryptoVirgin , we have been made aware of some ways of improving our transition strategy and communication. We have listened, and are committed to a more transparent working process ultimately empowering the DAO to actively shape the future of Korra.
Community Empowerment Initiative:
We have created an initiative aimed at unifying and empowering the community as well as recognising past, present and future contributors. We have created a substantial reward pool of 250,000 REVA tokens which will be distributed between the community. Please take 2 minutes to review the following Medium Article which details the initiative - https://medium.com/quantum-economics/shaping-the-future-of-korra-together-unveiling-the-korra-community-empowerment-initiative-b3315d07c764
Telegram Poll:
We value the input of the DAO on a matter that has been a point of discussion—our Telegram groups. We're considering whether to maintain separate Korra and Revault Telegram groups or consolidate them into one. We initially created a separate Korra TG to focus discussions on Korra, but after internal deliberation, we believe Discord offers a more structured environment for this type of community engagement. We therefore may not need the separate Korra TG, so we invite you to participate in a quick poll to help us decide the best course of action.
Discord Overhaul:
We're excited to welcome @jxshh and @veyirl to the community. They will be instrumental in enhancing our social media presence and community management. Our immediate focus is on overhauling the Discord platform to make it more appealing, organised, and conducive to structured discussions. This move aims to bring the community closer, facilitating better communication and collaboration.
Development Highlights:
On the development front, we've engaged with Pixpower to create a comprehensive branding pack, logo, and a new pitch deck for investors, along with the design of the upcoming website. While these efforts are ongoing, we look forward to sharing the final products with you soon.
The development of the new mobile app prototype is underway, and is centred around creating a seamless user experience. We are implementing a hassle-free registration process, allowing users to sign up effortlessly through Google or Apple accounts. Additionally, the integration of an auto-generated 3rd party, non-custodial MPC wallet through web3auth (https://web3auth.io/) to simplify some of the complexities for newcomers to DeFi.
We have also started working on wireframes for a visual user journey through the app, ensuring a seamless experience from registration to making the first investment.
In terms of funding, we're making significant progress with strong interest and commitments from angel investors. Confident in our ability to close the Seed round shortly, this allows us to channel more resources into the development of the prototype.
Team Expansion:
It is with great excitement that I welcome the AdvisorX team on board. Murad Khan and Nick Perzichilli will take lead in Marketing and Investment Strategy, assisting us in attracting capital investment as well as building a world class go-to-market strategy. Murad (https://www.linkedin.com/in/muradmichaelkhan/) is an attorney by trade but brings a wealth of knowledge from his experiences as a legal advisor for the US Government, chief strategist at PetLab Co and senior partner at NeptuneX Capital. He was also named one of the top 20 entrepreneurs of 2023 by the Tech Times. Not to be outdone, Nick (https://www.linkedin.com/in/nickperzichilli/) is an advisor for Ethereum and Forbes Business Council and was named as a Top 10 Entrepreneur by USA Today in 2023.
This dynamic partnership not only augments our team but strengthens our foundation for success.
We appreciate your ongoing support and look forward to building the future of Korra together. Stay tuned for more updates, and feel free to share your thoughts and suggestions.
Best regards,
The Korra Team
The first DAO proposal is live. Please confirm or reject the new council!
https://snapshot.org/#/revault.eth/proposal/0xc7fe276e5c334a3a3204623e8a7ad26a03bcd653431c903dadaff97eb932708a
Going by popular vote, tomorrow's DAO meeting will happen at 21.15h UTC.
Please attend to discuss the council succession of Romsty after his departure, moving forward to Korra, collecting (and potentially answering) questions left unanswered in recent discussions and the general strategy going forward.
DAO Meeting
TUESDAY, FEB 13
21.15h UTC
NEW TELEGRAM LINK FOR KORRA: https://t.me/KorraFinance_Portal
To ensure focused and constructive discussions, conversations about Revault will continue in the Revault Telegram group. We encourage you to bring your insights and feedback about Korra to our new Telegram group, where we'll foster meaningful dialogue and collaboration on a shared vision of making DeFi accessible to everyone.
The Discord link remains the same as the server is fully migrating to become a Korra platform.
Follow-Up AMA recording!
With this we will also be moving Korra discussions to a new Telegram group. Link will be added shortly.
🔻 FOLLOW-UP AMA 🔻
🔹 AMA tomorrow on Thursday - Feb 08, 12.00h UTC 🔹
Let's go into more details in regards to the plans for Korra and what role the DAO will play.
The AMA will be recorded and uploaded shortly after, all DAO members can listen and ask questions in text after the AMA as well.
See you tomorrow!
👉👉 Thursday - FEB 08, 12.00h UTC
Today's Rebranding AMA in recording.
Please continue to ask questions in text, they will be answered when possible by the team!
Thanks everyone who attended and thank you for your engagement. It is super valuable to the project and much appreciated.
🎉🥳STARTING 2024 WITH A BANG🥳🎉
🔹 AMA on JAN 29, 8.30h UTC 🔹
Big news to discuss, launching into the new year with exciting new developments as well as a general overview over the state of affairs.
The AMA will be recorded and uploaded shortly after so all DAO members can listen and ask their questions in text later as well.
Thank you all and talk to you
👉👉 JAN 29, 8.30h UTC
Next AMA
2023 Nov 08 12:00h UTC
General discussion of upcoming changes, open rounds for questions and overall update toward the end of the year. Mark your calendars, everybody's invited.
12:00h (that's PM) UTC on November 8.
See you then!
Hey everyone. Just to update regarding these messages. Unfortunately, it seems we will not be able to resolve this and the super-admin rights will lapse later this month. However, we do have admin rights including the ability to add/remove admins and manage permissions. Therefore, we're not really losing anything except for the ability to delete this channel.
The owner of this channel has been inactive for the last 5 months. If they remain inactive for the next 19 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
The owner of this channel has been inactive for the last 5 months. If they remain inactive for the next 28 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
Dear Revault Community,
We hope this update finds you well. July has been an eventful month for us, with both challenges and exciting developments. We have some important news to share, so let's get right to it!
Firstly, it is with a heavy heart that we announce the departure of our CTO, Vlad Tarasenko. Vlad has been an invaluable member of our team, and we owe him a debt of gratitude for his contributions to date. However, he has been offered a unique opportunity that he couldn't pass up, leading him to step down from his position at Revault. We wish Vlad all the best in his future endeavours.
In light of this change, we have actively sought new technical assistance, and we are delighted to welcome Mohtajj, the co-founder of Tan Software Studio, to our team as our new CTO. Since joining, Mohtajj has wasted no time in getting to work. He and his team diligently reviewed the entire codebase and immediately focused on tackling the first major bug on our agenda. We are genuinely excited about the prospect of working with him as we move forward.
Due to a lack of maintenance over the past year, our APIs and Solidity language models became outdated, resulting in their failure to display the BSC vaults on our website. Thanks to Moh's team, these issues have been rectified, and the entire system has been upgraded to a more permanent solution, making it easier to work with and enabling seamless updates and the addition of new vaults. Our next immediate step is to undertake the task of updating tokenomics, updating all the existing vaults, as well as the Trust Wallet API, and then proceed to add additional BSC and Fantom vault offerings.
We must also extend our heartfelt thanks to various members of the old team, Ohad, David, and Idan, for their support during this transitional period. Their contributions have been invaluable, and we truly appreciate their commitment to the project as we navigate through this transition.
Moreover, with Moh’s invaluable assistance, we have gained a clear understanding of the time and financial requirements needed to implement our new roadmap. As a result, and with the help of @romsty, we have updated our website accordingly, so we encourage all of you to take a look and familiarize yourselves with the changes.
In other exciting news, we have forged a new partnership with "What to Farm," a powerful native blockchain data provider. As part of this collaboration, "What to Farm" has developed a fantastic chart for us, which you can now access directly on our website.
With these developments in place and the dedication of our team, we are more motivated than ever to propel Revault towards its mission of becoming the leading defi search platform. We are grateful for the continued support of our wonderful community, and we look forward to embarking on this journey with all of you.
As always, feel free to reach out to us with any questions or feedback. Together, we will continue to build a stronger and more resilient Revault ecosystem.
pinned «We want to extend a heartfelt thank you to all the amazing DAO members who participated in the recent vote on our proposed tokenomic changes. We are thrilled to announce that the vote was a resounding success, with 100% of the votes in favour of implementing…»
We want to extend a heartfelt thank you to all the amazing DAO members who participated in the recent vote on our proposed tokenomic changes. We are thrilled to announce that the vote was a resounding success, with 100% of the votes in favour of implementing the new tokenomics.
Your overwhelming support and engagement truly demonstrate the strength and unity of our community. We are grateful for each and every one of you who took the time to participate and make your voices heard. Together, we are shaping the future of Revault and paving the way for even greater success in the world of decentralized finance.
Now, with the mandate given by our incredible community, we are excited to embark on the next phase of our journey. Over the coming weeks, we will begin the process of implementing the new tokenomics, working diligently to ensure a smooth transition that aligns with our shared vision for the platform.
This is a pivotal moment for Revault, and we are filled with optimism and excitement about what lies ahead. With the new tokenomics in place, we are confident in our ability to create a sustainable and thriving ecosystem that benefits all stakeholders involved. Together, we will unlock the full potential of Revault and continue to push the boundaries of decentralized finance.
Once again, a sincere thank you to each and every DAO member who participated in the vote. Your support is invaluable, and we are grateful to have you on this incredible journey with us. Stay tuned for further updates as we move forward and let's make Revault's future brighter than ever!
Good morning, everyone!
I'm thrilled to share some exciting updates with you today. I have just published a Medium article that provides comprehensive details on the proposed tokenomic changes for Revault. https://medium.com/quantum-economics/revanomics-579996078669
The Medium article covers all the important aspects of the proposed tokenomic changes, including the rationale behind them, the intended impact on the platform, and the potential benefits for the community. By familiarizing yourself with the article, you will gain a comprehensive understanding of the proposed changes and their implications.
Additionally, I have created a voting process on snapshot.org to ensure that every community member has an opportunity to contribute to the decision-making process. Your opinions and feedback are vital in shaping the future of Revault, so please take the time to participate in the vote. https://snapshot.org/#/revault.eth/proposal/0xe67644d02ba58f799b7a7867373c37bfaa547a5680ac2a8054375e65448dbce4
If you have any questions or queries regarding the proposed tokenomic changes or the voting process, please don't hesitate to reach out.
Revault Tokenomics Discussion 2023-05-16 Summary
Maddy (Layered Cake Protocol's CEO) says the tokenomics need to be changed to create new income streams for Revault. He proposes vaults to have a 1% yearly fee based on the amount deposited, so a whale with $1 million in value in a vault would pay $10k per year to use the platform. That 1% as well as 10% of the profits from the vault will go to the foundation. These funds will be used to pay developers, advisors and eventually a sales team that brings in money managers and institutional investors.
He says we also need to look at emissions and who (vaults, LPs, stakers, treasury, foundation) gets how much REVA again. Vaults need to be used more and need some love.
Vlad (Layered Cake Protocol's CTO) is implementing small upgrades to the website, fixes bugs and learns about the smart contracts.
Mati (Quantum Economics CEO) and Boink (Revault DAO council) discuss: Buy/sell transaction taxes were removed to list on a CEX. This will not happen in the near future, so we need to bring taxes back.
Maddy argues changes to tokenomics can only be effective, if we add utility to the token and Revault is developed further.
Ryan Souri from Usher introduces an affiliate program that can be used for Revault. It uses website tracking and/or wallet tracking to pay out referrals.
Maddy proposes the emissions need to be halved earlier than the scheduled August 4th.
Mati and Boink then discuss how to keep a larger portion of emissions on the platform. Mati suggests staking the treasury tokens. This reduces everybody's staking rewards by 20%. Boink says a cleaner solution would be to increase the emissions to the treasury at the cost of the stakers (and LPs) instead.
Mati considers 75% in favor to be the minimum to pass these upcoming proposals.
Maddy will create a model to be able to test changes to the tokenomics and come up with a proposal based on that. This way all DAO members can easily understand what the suggested changes will do.
The recording of today's tokenomics discussion.
A text summary in simple English will follow.
📆 *REMINDER* 📆
Join us for our Tokenomics discussion with a new face, Ryan Souri, who will help with integration.
Goal is to find actionable solutions to stabilize REVA's tokenomics and make the platform futureproof in this regard.
The voice chat starts in 30 minutes at 13:00 UTC and will be recorded and later summarized in simple English.
pinned «https://cryptoslate.com/revault-network-acquired-by-mati-greenspans-quantum-economics/»