Community Growth

Since the DEX is getting closer for main net release what can we start doing to build the community and have more people contribute towards the DAO? We do have several people checking in on discord here and there but I feel we need to get the ball rolling by starting to put DerivaDex out on peoples radar.

What will differentiate this DEX from the rest is that it will be owned 100% by the DAO since day one of launch. What ideas do you have to make it easier for people to contribute or resources that we can put together for the DAO. I will be happy to hear all of your ideas.

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Hey Max, thanks for kicking off this conversation. I have a few questions for people that might also help us at DEX Labs provide more focused documentation or other materials that can help the DAO in its process.

  • Governance will be required for all changes to the exchange. Do DAO members have questions about the governance process itself? for example, voting time period, how to make a proposal, etc? We have a few posts about this but maybe more explicit documentation would be helpful.
  • What is a good way for the DAO to structure its efforts at this early stage? I think it could be really useful to have a working group that spends some time researching other DAOs to understand what might be most successful here.
  • What resources does the DAO have right now? One that I know of is control over the withdrawal funds collected as part of insurance mining. That account is completely DAO-controlled, so it might be something the DAO would like to get a good picture of since it could be used for near-term proposals that require capital, for example.

The two big categories for the DAO to focus on I see now include

  • documentation requirements for the DAO to be most effective
  • DAO research (including org resources, like building a Snapshot, and implementing some best practices)
  • product roadmap / on-chain proposal research

Any thoughts on these categories?

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I think that, on a fundamental basis, the easiest way to attract functioning members for the DAO will be through social media marketing. Whether this means making the Twitter page more active, adding an Instagram as well, whatever it may be. This doesn’t necessarily mean that the accounts have to be hyper active, but they should post content that draws attention in addition to content that is important to DerivaDex itself.

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I was a market researcher (a hobby only) on 50+ cryptos include DDX last year and this year. I am particularly attracted to DDX due to mainnet launch in this year. According to my past experiences with other cryptos’ mainnet launches, your developer is the most patient and detail oriented among other cryptos, such as LRC, BAL, BOND, POLY on their mainnet launches/major site upgrades. I think you are lack of community growth beforehand because you do not have an official product to show to the public yet. Testnet is helpful but people cares about your revenue growth and potential when your official mainnet launches. You are different than centralized crypto derivative exchanges, such as Kraken and FTX, so I think you have a bright future after mainnet launch.

I do not see people interact much on your discord website, but Twitter and Reddit should be promoted. It’s developer driven discussion. If you give some weekly updates on your mainnet launch progress (even if it’s a short statement), then that will attract more users on social media to research further on your DEX lab.

Thanks.

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A weekly update from DerivaDex developer will be helpful on Twitter and Reddit that’s what other crypto developer use to advertise their cryptos mostly in 2021 and 2022. That will help increase followers on Twitter to 50k+ in this year.

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DEX Labs provides information about the exchange for educational purposes, not for advertisement.

I think the question about how to structure awareness of the project in order to help appeal to contributors could be a little more focused-- I don’t think increasing tweet volume will have a meaningful impact. IMHO, producing more focused content (i.e., documentation of the on-chain proposal process, community-led calls discussing this process and other aspects of the exchange) may be more effective.

Another idea we had been batting around was about data dashboards. These can be easily created by the community, and would provide the DAO with a lot of actionable insight into the exchange.

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:smiling_face_with_three_hearts: :muscle: :+1:
its goods.i love DDX

Hey Amir, welcome to the governance forum. In the interest of cutting down on spam and improving signal to noise ratio here, please only post messages that contribute materially to the conversation. Discord is a better place for spontaneous outpourings of affection!

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I want to flag this proposal draft for participants in this discussion, who might be interested in weighing in: Meta-governance research (and proposal idea)

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