Key points from Friday’s call and what we did over the past week.
Greetings everyone, and welcome to our latest weekly Town Hall recap! I took the opportunity this past week to fill in for Kevin as the host of the call, and I had a great time answering questions and providing clarification on some of the things we’re doing. After being under the weather at the start of the week due to Token2049’s exhaustive schedule, Lang was feeling much better and was able to share some interesting new info with us prior to travelling to Dubai for additional meetings. With that said, let’s get into the details of the main items that were discussed.
- As Lang mentioned last week, his and Rory’s networking at Token2049 was a huge success. Rory continued the negotiation process with interested parties while Lang was recovering from illness, and AirDAO is now in a position where the ball is in our court — we have offers on the table that could easily hit our fundraising targets and close the round. We will, however, be selective and work to achieve the most favorable terms possible for both the team and the community. We are also in discussions with projects that expressed interest in building within our ecosystem about funding and incentives to get them started.
- The specific details are under wraps for now, but we are entering into a experimental new promotion with Binance over the coming weeks. This follows several other campaigns that we’ve undertaken with them such as Binance Staking, Binance Lite Referral, and being featured as a part of their “Earn Wednesday” series. We are excited that they have selected us as a test-case for this new program and we look forward to sharing more details once we’re able. Additionally, now that the AirDAO bridge is live between BNB Chain and AMB-NET, we are looking to establish a liquidity pair for wrapped AMB on Pancakeswap. We also plan to leverage our relationship with Binance to pursue promotions and integrations for AMB within the BNB ecosystem and to work towards obtaining a Pancakeswap IFO (Initial Farm Offering) for FirepotSwap’s eventual token launch.
- We have a number of marketing items that are either currently in the works or are on the agenda this month. Our community manager Seth is representing AirDAO in a DeFi event in his home country of Ghana, Africa. AirDAO has signed on as a sponsor for this conference and Seth will be a featured speaker on our behalf as well. We are also creating designs for some AirDAO merchandise to be distributed. Additionally, we’ve secured a joint AMA with Firepot’s team in a large Defi Discord group, the date for which we will be finalizing this week. Finally, Lena has been spearheading the creation of tutorial videos for all AirDAO products and working on a DAO-related game in addition to her weekly engagement with Twitter, Telegram, and YouTube influencers.
Some other items of note:
- In response to a question about max supply, I pointed out that regardless of what that number winds up being post-fundraising, it is only an upper limit — by no means is it a figure that we have to hit or even plan on reaching. Our ultimate goal is to sell the minimum number of tokens possible to investors with the most community-friendly vesting schedule, and to ensure that we have enough funds in both stablecoins and AMB to incentivize growth and fuel rewards within our ecosystem long-term. Lang also reiterated that we will be implementing burning mechanisms, which can be done in a variety of ways using our base-level blockchain network and/or different product features within AirDAO (such as a burning vault on FirepotSwap for example).
- Regarding our stablecoin, development is ongoing but we cannot give a specific time frame at the moment. This is primarily because we’re not doing a copy/paste of DAI or something similar — we are designing a more novel solution, and this process requires a lot of modelling and testing. While our stablecoin will be collateralized as opposed to algorithmic like UST was, the collapse of the Terra ecosystem was a prime example of why stablecoins must be rigorously tested and have their tokenomic structure proven-out before going to market. When we are able to give concrete development milestones we will do so, but for now the stablecoin is a longer-term project that requires more time to be market-ready.
As far as I know, this was the longest Town Hall meeting we’ve ever had, and I enjoyed getting to weigh in on everyone’s questions. In the wake of all Binance’s announcements and the launch of AirDAO, the past few weeks have been a bit slow in terms of what we’ve been able to share, but it is likely that this will change once negotiations on different fronts are wrapped up over the rest of this month. We’re committed to doing all we can in both these Town Halls and in our various communications throughout each week to keep our community as updated as possible, and we’re excited to share our next steps forward towards eventual Top 100 status once we are able to do so. Until next time, thank you for reading this recap, and I hope you all have an amazing week!
