GuruDAO Bootstrapping Phase Checkup

Warm greetings, GuruDAO! We can’t believe it’s been almost three months since we started our DAO Bootstrapping phase, and we are ecstatic to have such a fantastic group of contributors. Given the three-month milestone, we figured it’s time to sum up where we are now, where we’re going, and bring forward some intermediate conclusions.

Where are we now?

We had a solid start to the bootstrap DAO launch and have already established a foundation for further DAO development. We currently have a working governance process, contributors who prepare proposals, an engaged community for proposal evaluation, and defined common goals. Currently, GuruDAO has everything needed from the organizational perspective to move forward.

Dev Sub-DAO is constantly working on new features. As you may have noticed, we recently launched multiple product-related surveys to bring the community’s voice forward along with your product expectations. We want to thank all participants; your contributions are very much appreciated.

Recently we’ve been working on a product adaptation to implement paid subscriptions. Capturing value is essential for any DAO, and we believe adding a subscription model is an ideal way for GuruDAO to cement its financial security. This revenue stream will also act as a foundation for $GURU tokenomics. We shared these ideas on the Discourse and are waiting for your propositions and ideas.

Next steps

Our next significant milestone as a community is GuruDAO’s transition from the Pre-DAO to the DAO phase. This exciting transition will require some labour and big decisions from the community; we’ve laid out the necessary workstreams below:

  1. TGE preparation. This includes the following actions:
    • Exact token allocation and distribution schedule for 60% of token supply earmarked for GuruDAO, including airdrop
    • LBP details and parameters.
    • Actions to prevent a potential Sybil attack.
    • Determine who will be on a safeguard multisig.
    • Deploy $GURU token smart contract.
    • Deploy LBP.
  2. Customize the governance process to support the DAO transition
    • GuruDAO governance quorum and proposal threshold for veGURU.
  3. Adapt the product
    • Define the initial product’s subscription parameters.
    • Update the DexGuru product to support a subscription model.

As has been mentioned in the past, Dev Sub-DAO is not the core team of GuruDAO. We have limited responsibilities in front of GuruDAO that were ratified in a recent proposal and only focus on product development. The list of actions above should be initiated and performed by the community, except for the DexGuru product update. We are open to being an advisor in this process but not the driving force.

We expect the community to actively participate in the discussion of the steps above and support GuruDAO’s development.

From a timeline perspective, we believe all these workstreams can be completed this summer. Given the market conditions, launching a token before the end of August/September doesn’t seem to be in our best interest. Fortunately, this leaves time for GuruDAO and Dev Sub-DAO to finalize the transition from Pre-DAO to DAO.

When token?

Due to the high volatility in the crypto market, we doubt that the GuruDAO token would be valued adequately during the Liquidity Bootstrap Event if done today. According to the last funding found, DexGuru was valued at $50mm, and we plan to conduct the LBP at the same or higher value.
According to our estimations, a better time frame for the TGE event is the end of August / September this year. We will stay in touch with the community to communicate market updates and closely monitor the market conditions.

201 Likes

right decision about not to rush with tge of the token on that kind of red market. Also this time team could spend on improving details that could become big mistakes

33 Likes

that’s the right decision for the project and the community . i think it’s not good to have a tge in the middle of this bear

12 Likes

i think it is a good idea. this situation of market may destroy everything we built. thanks for your consideration. you are great team.

15 Likes

Thank you for addressing the community. I also think that if we can launch the token in fall 2022. This will better serve the community.

8 Likes

Great decision tbh. We are in bear market now , let’s wait for the right time ! Time flies so fast , from Pre-DAO it’s actually 3 months.

6 Likes

A great idea to hold token listing until better times. A bad start can harm our great project. I think that the team to determine the best time to launch token! All the most high quality!

9 Likes

YES,agere. Now is not a good time to do an IDO. the situation of market may destroy everything . Postponing may be a better option.

3 Likes

This is the best idea.
Given the experience of launching tokens by ambitious projects and their weakness in how to distribute tokens in the past two months, it seems better to spend more time on project details and continuing the journey.
Of course with the participation of more Dao members.

4 Likes

the market has become a disaster, it is better to hope that it is at least stabilized, we are going slowly but surely!

2 Likes

Like most people from the community, I believe that it is absolutely not advisable to do it at the moment, since any quality project cannot be adequately valued in such a downward market. It is better to spend this time on improving the functionality of the platform, Tao and pay attention to the introduction of paid subscriptions.

3 Likes

Yes, no need to rush and miss the objectives completely. Just keep improving the product features, documentation, and expanding the community

2 Likes

To cope with current market situation, probably even September is not a good idea. Market situation won’t be eased after the inflation is under control or FED stop QT. Will that be better to schedule the TGE after we create our own cashflow(like subscription model) rather than stick to a date?

5 Likes

About TGE, i dont have any disagreement as it has been planned excellently but there is one sentence i have not understood completely and i wish the team could provide more detailed information about that is ‘Recently we’ve been working on a product adaptation to implement paid subscriptions.’
Would be admired if you provide more details about it. thanks.

2 Likes

that would be great decsion. I like the whole idea about it and launching TGE at the end of AUG/SEPT. Or we can push it Q4 if needed. Because current market sentiment isn’t good .

1 Like

great to see that guru DAO is optimizing it procedure and supporting its community more. when it’d be the TGE and how it gonna be distributed.

2 Likes

The bear market is here, the market is down, and you need to be very careful about issuing coins in this situation

1 Like

Great decision tbh. We are in bear market now , let’s wait for the right time ! Time flies so fast , from Pre-DAO it’s actually 3 months.

2 Likes

Well thought decision to plan the TGE for late august/september, hopefully market conditions are good for a nice launch.
Incentives also might be fun during that period :slight_smile:

1 Like

The decision is the right one because we saw what happened to the other projects. So how much better to get through this situation in the hope of good days for Dex Guru