Another step for Omen and DXdao: Empowering a DXdao “Omen Squad” with capital to create interesting markets and provide liquidity

When providing liquidity to markets, the LP often ends up taking a view on that market as well as the odds change. It will take active management to react to this and adjust liquidity and positions. If Omen Squad had a global team active 24/7, that would be awesome!

If the liquidity is mainly provided by the team, then transactions in it are almost tax-free
In the 2% market, one transaction can save 4%, which means a great advantage
AMM consumes energy very much, you have to react immediately to seize trading opportunities
So it’s important to monitor the market 24/7

The sun never sets。 lol

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UPDATE: Omen Squad has been in action for a couple months now.

Unless you are watching closely, you are likely wondering how things have been going.

Omen Squad is underneath DXdao and is becoming more like an Omen Guild made up of interested parties from the community.

The two following documents were posted to IPFS by the Omen Squad in order to provide an update and show the activity in a transparent way.

Omen Squad Activity - Update Jan’21:
https://gateway.pinata.cloud/ipfs/QmRcqcAtJqNNzXTre4x7GevxUDE3Z3KyCUCyfxDwaC9Zdd

Omen Squad Activity Tracking:
https://gateway.pinata.cloud/ipfs/QmfJaFkZrGUBBXdoi2tw93cqP6voUFw6Li1oKb2hw3gVaB

If you have any questions, the keybase Omen channel is a great place to discuss.

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In line with DXdao’s objectives, and as outlined by the Omen Squad, there are some goals laid out for moving forward from here.

Going Forward:
1) Continue to work towards the Omen Squad goals
2) Expand activity onto Omen xDai
3) Use more funds
4) Run more Omen Market Competitions
5) Expand Omen Squad and merge with community
6) Work towards becoming functioning Omen Guild

In order to capitalize on the current opportunity in front of DXdao with Omen, it is important to position Omen for success. One of the keys to this is to have capital ready to be deployed by Omen Squad to fund important markets on Omen.

With the imminent launch of Omen on xDai, having a number of attractive markets on Omen xDai is important.

There has also been talk of having a larger size market around the Superbowl (~$25k) and a series of other markets including Scalar markets, and further markets sourced from the Omen community.

There is an immediate need for DXdao to enable Omen Squad with funds to support Omen markets.

There will be a proposal request shortly for $50k (requested in ETH) to the Omen Squad, with the goal to fund a series of markets on Omen xDai.

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