DXdao Supports DeFi Community with PAN

Panvala Observer Weekly Newsletter

Sky Minert is passionate about a truly decentralized financial ecosystem.  This week we had the pleasure of picking his brain about DXdao’s history, values, and creative use of PAN to further the DeFi community.

A Bit of Background

“DXdao is a decentralized collective that builds and governs decentralized products and services for the world.  It aims to be an open community that reaches consensus in a transparent and fair way.”  - DXdao manifesto

Originally launched by Gnosis and DAOstack in May of 2019, DXdao was created as a decentralized entity that could govern decentralized protocols.  In its early days, DXdao took over the management of Dutch Exchange (decentralized trading) because of DXdao’s unique ability to offer decentralized governance.  Today, DXdao is active in the DeFi space with over 500 community members, about 25 full time contributors, and the ability to build and fund its own products. Sky prides DXdao on being truly decentralized—everything is conducted on the blockchain—from voting to proposal development.  He noted that if the group of people currently working on DXdao move on to other projects, the integrity of the DAO would persist. 

DeFi Community Awards

Here is where Panvala comes in!  With new grant money flowing in, DXdao wanted to look beyond their own wellbeing and find a way to benefit the DeFi community itself.  “There are all of these missing pieces in the DeFi space that would allow you to actually have decentralized products and frameworks,” Sky told us.  He used Medium as an example – who is creating a decentralized blogging platform?  “Getting PAN into their hands is important.”  Thus, DXdao created the DeFi Community Awards, which encouraged community members to nominate open-source projects that are critically helping the DeFi ecosystem in a decentralized, permission-less way.  In December, the community voted on 5 categories, and awarded the winners with PAN, DAI, and a unique NFT trophy.  “Essentially we wanted to create the Oscars for the DeFi ecosystem,” Sky said, enthusiastically. 

Nominate a Project!

While the first round of DeFi Community Awards went exceptionally well, the second round needs more nominations!  If you are involved in a project or know of a project that is creatively benefiting the DeFi space, be sure to reach out to DXdao and let them know about it. You can visit their website, message them on keybase, check out their Youtube channel, and read more about their DeFi Community Awards here!

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