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.
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.
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:
- 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.
- Customize the governance process to support the DAO transition
- GuruDAO governance quorum and proposal threshold for veGURU.
- 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.
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.