Another step for Omen and DXdao:
Empowering a DXdao “Omen Squad” with capital to create interesting markets and provide liquidity
DXdao is continually iterating on improvements and experiments with Omen.
Omen product is to the point where a user can have a successful experience browsing, choosing and betting on a market. Gas fees aren’t great, but we believe there is a market of people that will still participate. Larger size trades make the economics better.
There is a trend that markets with higher liquidity tend to be some of the higher volume traded markets.
Here, six markets sit in both groups: “Highest Liquidity” and “Total Volume” which makes sense.
We have an idea for DXdao to form an “Omen Squad” eventually to be governed by a squadDAO.
Initially, it would be protected with a multisig.
The goal would be to have a pot of funds provided by DXdao to create a set of markets that the Omen Squad with the help of the community has determined to be timely, relevant and useful to the Ethereum/DeFi community.
With some active monitoring and a bit of extra effort, we believe that DXdao could create and fund some interesting markets to capture attention and users.
We’ve had this idea from before the launch of Omen, but decided to take a “wait and see” approach. We’ve waited…now it’s time to do.
To experiment and learn and iterate, we think DXdao needs to be more aggressive.
Details of Initiative:
Form an Omen Squad
- Target 8-10 people
- Bring in people from the different communities (DXdao, Omen telegram, Gnosis, Authereum, others)
Set-up an Omen Squad multisig
- Fund the multisig with an initial ~$25k of Dai
Create an active “Potential Markets List”
- Anyone from community can propose markets
- Vote on top 3-5 markets (Target $5k liquidity per market)
Create and Fund markets
- Multisig to execute
Learn, Analyze, recycle funds
Initial Capital for Initiative:
One goal is to choose markets that will not need weekly active management, as consensus and the multisig will be on the slower side.
Would be great to hear any ideas or input around this type of initiative.
If you are interested in being a part of the Omen Squad, please make it known in the #omen keybase channel.