Dear Lucidao Community,
After the successful completion of #THESWITCH to Polygon and the integration of LCD on the Quickswap DEX, Lucidao keeps moving forward with the passing of [FLP#0006], that proposed the allocation of 3% of the DAO governance vault reserves (amounting to 26.4m tokens) as incentives for farms.
FARMING LCD
The discussions with Quickswap currently aim for the first farm to start on the 25th May, and be a MATIC/LCD pair with rewards in QUICK and LCD tokens; the DEX has agreed to commit 3 QUICK per day and that farm is due to last 10 months.
A week after the launch of the MATIC/LCD farm, a QUICK single sided staking pool will be opened using Dragon Syrup. This will generate LCD rewards and will provide LCD with double exposure on Quickswap.
The goals of launching farms on QuickSwap is to:
- Provide more liquidity and therefore allow the distribution of more LCD utility tokens through farming rewards.
- As the liquidity grows, outsiders, institutional contributors, and Oracles willing to gain voting power, will be able to purchase higher amounts of LCD tokens from the market without suffering from high slippage.
- A growing liquidity will contribute to the ecosystem’s confidence in Lucidao and will help scale faster.
TALLY
Another great news for the LUCIDAO Ecosystem: Tally has recognised and integrated LUCIDAO on its platform. Tally is a DAO explorer and operations platform where you can “start, join and grow decentralized organizations’’.
COINGECKO
After a few days of absence due to #THESWITCH, the LCD token on Polygon has been updated on CoinGecko and is back live.
YOUR MARKETPLACE
And last but not least, the Marketplace keeps developing at full-speed.
Let us update you with a few technicalities (and a trial at their vulgarization):
We are rapidly reaching 200 commits (they are piles of code) on the marketplace repository (which is a place on a server where code is stored and used for organizations to work on the code collaboratively); the pace is accelerating and the developers are now delivering dozens of commits per day.
They are making sure the balance between server-side and on-chain operations is well-structured (maximizing the decentralized aspect, while still requiring the use of a server) and that the state can stay consistent between both. They carefully worked out a permissioned protocol where Oracles can give access to NFT functionalities to their employees with extreme granularity so that critical operations can only be made by a selected account while the rest of the team can manage their inventory at full speed (tasks can be shared within the organizations while retaining a fully-secured process).
We are also continuously refactoring our codebase to limit technical debt to and to push speeds to the extreme.
Keep checking our Announcements channels!
And don’t forget to follow our socials to keep up to date on upcoming developments!
- Discord: https://discord.gg/lucidao
- Telegram: https://t.me/lucidao
- Twitter: https://twitter.com/Lucidao_
