Introduction
This post serves to inform the community about my engagements with KyberDAO in my Kyber ambassador role for the Coop.
Kyber Governance Updates and Proposals
As part of my role as ambassador I have been actively following Kyber updates and have stayed in touch with the Kyber team. I will briefly summarize the updates within the KyberDAO.
This month there was one on-chain vote; KIP-18: Advance KNC Allocation for Small-Scale Liquidity Mining Activities. This vote got executed and it:
Allows 5M KNC to be taken from this Ecosystem Fund and assigned to the Kyber team in advance for small-scale (under $1M in KNC requested) joint liquidity mining campaigns, without going through an on-chain KyberDAO vote for each project proposal.
This could make a joint liquidity mining campaign for MVI on the DMM on Polygon (something I proposed) more easy to execute on from the Kyber side.
The proposal of moving to snapshot instead of using their own on-chain voting system has not moved towards a vote yet after discussion on the forum was inconclusive for the time being.
Kyber has integrated Balancer and Curve and its MIM pool has been gaining serious traction. They also launched an interesting new feature, where you can now add liquidity on KyberDMM Pools with a single token deposit.
DPI Listing on Kyber DMM
After having joined an Index Governance call and discussed possible ways of collaborating, the listing has once again stalled. It seems like the Index Growth and Strategy is not interested in doing joint-LM and Kyber hasn’t been excited about doing incentives only from one side.
Closing
After spending 5 months in the ambassador role and both protocols not showing signs of coming to any agreement, I am leaning towards putting a hold on my role. As I was already the only active ambassador (AFAIK), I think it is time for the community to get some learnings from the process and come up with a different DAO2DAO strategy. There are partnerships and integrations being made, just not through the ambassador funnel. As an ambassador it has been difficult to get the right Index people and right information to make actual progress. Perhaps it is an idea to look at how other DAO2DAO collaborations are being forged, with PrimeDAO for instance as an explorer in the space on this particular endeavour.