Lucidao Update 0.7 | June-Week 1

Dear Lucidao Community,

More and more great news has been coming your way in the last few days!

If you have been following our Twitter threads and our Discord & Telegram announcements, you already know that your LCD tokens can be put to work in a farming pool on Quickswap (LCD/MATIC pair).

The pool has already more than $1m deposits!

At 8 pm CET on Tuesday 31th, a second pool (called the Dragon’s Syrup Pool) opened on the same DEX, which allows you to stake QUICK tokens and earn more LCD. The Dragon can already brag on $800k staked in its pool!

Another hot topic is the successful vote by the community on the FLP [#0007].
The latter introduced a budget allocation for the next 6 months that will support the development of Lucidao and its first dApp, the marketplace for luxury collectibles.

Where are the funds coming from?

The funds are coming from the recent financing round, a total of $2.25M, raised from Polygon, Arcanum, and Sandeep Nailwal. Additionally, the team has also contributed almost 1m USDt, which has not been reimbursed, or rewarded to any team members for their contributions.

How will the budget be spent?

This budget will go towards the growth and development of the team, development costs for the marketplace, and marketing expenses and is based on both existing costs (legal fees, software, accounting, external design, agency, and IT team salaries) and on expected projections such as team salaries, marketing PR, marketing events & advertising and digital marketing (SEO & SEM activities).

The budget allocation will be distributed to an expense wallet: 0x7Bc0fD0068c05beBBFb51F599Cde4922b844EED0

How is the marketing budget considered?

It’s important to note that not a single dollar has been spent on marketing LUCIDAO to date. Once the 1st marketplace launches, the focus will be shifted to development and growth and marketing will play a significant role in the future growth of LUCIDAO; the primary goals should be to achieve the following:

  • Continued business development with world-class brands & businesses to onboard Partners/Oracles
  • Increase LCD holders, grow and spread the community
  • Increase exposure to high-quality contributors, who will continue to support the protocol, and its dApps
  • Generate global press that identifies Lucidao as one of the leading protocols in its category

First of all, hats off to our developers' team who has been working tirelessly to deliver the beta version, the marketplace is now ready for internal testing as a fully functioning closed beta with all functionalities: from Oracles profile creation to listing, to buying to redeeming and burning NFTs.

the marketplace is now ready for internal testing

This represents the first iteration (V1) where people outside of the development team will be able to try the product, give feedback with their impressions of the UX and report bugs as well as suggest improvements.

All of the above concerns a first version of the marketplace (V1); V2 will involve a real working product along with a custom design of the front-end.

Next week some sneak peeks will be shared by the devs team!

Don’t forget to follow our channels to keep up to date on upcoming developments!

- Discord: https://discord.gg/lucidao

- Telegram: https://t.me/lucidao

- Twitter: https://twitter.com/Lucidao_

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Lucidao

Lucidao is a governance protocol that connects crypto holders with traditional business owners