In May 2021, DXdao made a $100,000 grant in Dai to Opolis, Inc.
Opolis had an original plan to launch its platform mainly on xDai Chain which fit in quite well with DXdao’s set-up with bases.
In June 2021, Opolis pivoted to have their platform mainly being used on Polygon Network.
You can find details of the current set-up for Opolis and $WORK token here.
DXdao has been expecting to receive $WORK token rewards, a total of at least 475,197 $WORK Rewards. 20% of the $WORK Token Allocation, in the amount of 95,040 $WORK, were due to be given to DXdao immediately, with the remaining $WORK token allocation to completely vest over the course of four years.
On August 27th, 2021, DXdao received its first allocation of $WORK tokens to DXdao on mainnet.
For most parties involved in Opolis, $WORK is being streamed using Superfluid on Polygon, but this is not set up on Mainnet and is quite expensive. The current plan is for DXdao to receive any additional sends each quarter.
Currently, the $WORK tokens are held in mainnet DXdao.
Opportunities with $WORK going forward
There are three identified paths forward for DXdao’s holding of $WORK tokens:
1. Stake $WORK into the Opolis staking system on Polygon
- Currently, DXdao does not have a base on Polygon, but this action could potentially be done using a DXdao Dev Multichain Gnosis SAFE.
- Staking into the Opolis system provides additional WORK rewards each EPOCH.
2. Leverage $WORK tokens as capital to be an LP in an AMM pool
- Use $WORK tokens in a pool on Swapr (Arbitrum or Mainnet)
- Use $WORK tokens in a pool on another AMM - the $WORK community has recently created an LP DAO POOLworks similar to the DAOhaus LP DAO Swapr is connected to on xDai. This POOLworks LP DAO and LPing is currently happening on Polygon using Sushiswap and there are rewards.
3. Keep $WORK tokens safe in the DXdao treasury.
- Lowest risk, least upside
There is no rush to make any decisions but there could be some opportunities arising in the next month or two around Swapr pools.
It would be helpful to hear from the community which path forward is most appealing for DXdao and DXD holders.
Feedback and thoughts are welcome.