Appreciate your patience on this update. In the spirit of community and partnerships, I've really been pushing to build some community partnerships: Telegram discussions, Calendly calls, and Discord DMs. The dApp, DeFi, or sidechain projects that have scaled the best have made a core focus of their operation to build meaningful partnerships so I'm working with the mod team to build these similar partnerships.

So, an update on the RxDAI DAO:

1. DAO Treasury is being done with Hedgey finance. I'm working with the devs on fixing an allowance error to rollover 99% of the RxDAI but it's been sitting there for months behind a multisig. They're doing some cool things and did very well in a recent funding round. They're using their platform to favorably highlight xDAI with VCs and at every avenue so they're a meaningful partner that I think necessitates support, in the spirit of crypto collaboration.

We're doing testnet work to get merged from Aragon to 1Hive's Gardens for governance votes. The conviction voting and Celeste tool for dispute resolution is masterfully coded and, of course, 1Hive is xDAI's oldest and most well-regarded DAOs.

https://gardens.1hive.org/

RxDAI on HoneySwap

2) Airdrops come to RxDAI:

You may have seen the ENS airdrop, which made a lot of news.

So, in keeping with this, the NFTsDAO announced that they'll doing an airdrop on Nov 15th at midnight GMT in a snapshot for every user who holds more than 1000 RxDAI: the monthly airdrop amount. If you got a singular monthly airdrop then you just need 1 more RxDAI to get in on that snapshot. Every wallet address will be snapshotted so if you have one for work and one for yourself with 1001 RxDAI then you'll get two airdrops, naturally.

What is getting airdropped is:

- 9 ENS tokens, which will bridged using Omnibridge and will be split among users with 1001 RxDAI- An NFTsDAO option NFT, which is a European-style call option, for 1 Litecoin, with a black-scholes statistical worth of $13.

There are currently 23 wallets holding 1001 RxDAI. The current value of 1001 RxDAI is presently $0.26, so it's not too horrible of a deal even if someone is new to r/xDAI and wants snapshot coverage.

The value of the current airdrop, if the airdrop was done with a snapshot right now, is $21.52 worth of ENS (with ENS at $56.67) $13 for the LTC option = $34.52 in value. This made get diluted as some last minute stragglers grab some RxDAI to get in on the snapshot, but, remember, that will also appreciate the value of your RxDAI.

The $0.01 xDAI peg, effectively immediately, has be released. The alpha stress testing the oracle didn't work as expected so we're going to let it float, but it's now foundationally sound in a way that it never has been with partnerships that are hoping to leverage this community of smart, savvy blockchain engineers and devs through meaningful airdrops to build goodwill.

NFTsDAO Airdrop: RxDAI's first

The purpose of the airdrop is to increase awareness about their NFT-linked financial instruments, which self-settle against xDAI at duration end.

3) Improved tokenization

If users know that their position is going to give them a monthly staking reward of a LTC worth of call option value in the form of an airdrop option then they are less likely to sell. Remember, if you have a 300 call and LTC goes to 375 then you will have made 75 xDAI and that'll be disbursed at settlement. That, coupled with the desire to buy more RxDAI should have the effect of stimulating demand the and remove much of the sell pressure. HODL.