In February 2021, DXdao community members proposed the creation of a DXdao venture arm, coined DXventures. Community members quickly adopted the idea, and DeFi projects have since approached DXdao regarding investment opportunities.
Grant to Opolis
DXventures is happy to announce that it is seeking the community’s feedback for an on-chain proposal to make a grant of $50,000 to Opolis, Inc. from the DXdao treasury. Also, some individual DXdao contributors have committed to match DXdao’s $50,000 grant to make the total grant from the DXdao community to Opolis in the amount of $100,000. By matching the DXdao grant with contributor funds, DXdao was able to obtain a larger token issuance from Opolis with better terms.
If the $50,000 grant proposal is passed, DXdao would join Consensys, MakerDAO, Gitcoin, Panvala, Raid Guild, Snapshot, Superfluid, Sushiswap, and other DAOs, as Opolis Genesis Coalition members. In making this grant, DXdao intends to work as an active partner with Opolis and a voting member of Opolis Commons to solve issues that contractors in the crypto currency space regularly face.
Opolis is a Digital Employment Cooperative offering independent workers fully portable benefits, payroll, and shared services. Opolis founder, John Paller, has been involved in the DeFi and ethereum spaces for many years as a co-founder of ETHDenver. John created Opolis in order to provide contractors in the cryptocurrency space with a way to navigate the concerns that naturally come up when handling health insurance, payroll, and tax issues while being paid in cryptocurrencies. Opolis was founded in Denver, Colorado, and currently focuses its cooperative services within the United States, but it has plans to branch outside the US in the next one to two years.
If a proposal is passed, DXdao would receive Opolis tokens, called $WORK, two different ways:
First, through an initial grant of 237,599 $WORK, 20% of which would immediately vest, with the remaining $WORK vesting over the course of 4 years.
Initial $WORK 20% = 45,720
Total Vested $WORK 100% over 4 years = 237,599
Second, since DXdao is not obtaining any direct equity of Opolis for its funding, Opolis has agreed to provide DXdao with a future issuance of $WORK in the event of a sale, liquidation, or merger of Opolis. The number of $WORK that DXdao receives would be in proportion to a 0.165% equity ownership of Opolis, Inc. at the time of any of the above stated events.
If the DXdao community signals interest in going forward with a $50,000 grant to Opolis, Opolis will make an on-chain proposal on DXdao’s mainnet voting interface on Alchemy for the grant.
We Want Feedback
Through this grant and partnership with Opolis, DXventures looks forward to filling a need that many DXdao members actively face as crypto contractors. If you have any feedback on the grant or ideas on how Opolis can help crypto contractors, let us know.
---------- UPDATES ----------
Here is the Opolis tokenomics document.
Here is the Opolis pitch deck, which has a lot of information on projected traction rates and competitive landscape.
Regarding traction, since Opolis’s launch on April 22, Opolis has retained 3000 new members in the Commons from 65 different countries. These numbers majorly outpace their initial projections of 300 members by end of year 2021, found in the Opolis pitch deck.