About the editor: Spencer Noon is Co-founder & General Partner at Variant.

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Network Coverage
Coverage on Juicebox, Coordinape, Osmosis, and Bankless.

• Juicebox is a decentralized fundraising protocol allowing individuals to create a DAO in order to pool funds in a structured way towards a shared goal. Contributors receive a proportional amount of the project’s native token, which Juicebox generates against individual contributions. Since inception 7 months ago, over 500 projects were created using this protocol, raising north of $160m through the platform. Some of the top projects that used Juicebox are ConstitutionDAO and AssangeDAO.

• The Juicebox ecosystem is self-sustainable and is governed by the JuiceboxDAO. The DAO collects fees by charging projects 2.5% of the total funds raised. This mechanism helped the DAO generate close to $3.5m in revenue since inception.

• The JBX token plays a unique role within the Juicebox ecosystem. The token enables its ~3,600 holders not only to vote on governance proposals, but also provides holders an easily redeemable proportional claim to the JuiceboxDAO treasury which currently holds over $17m.

• Coordinape provides a tool for decentralized compensation called the Gift Circle. Contributors are put in Circles with a fixed budget, where they periodically distribute rewards in a peer-to-peer manner, alongside helpful feedback. Initially built for Yearn in early 2021, the Coordinape Gift Circle was adopted by several protocols during their six-month private beta. Since October 2021, anyone can launch a Circle on their own, and the active user population grew by 365% to 5000.

• DAOs have been able to grow their communities by incentivizing and better managing contributions in Coordinape. The project has seen significant growth in the number of DAOs using Gift Circles, along with growth driven by the expansion of paid teams within DAOs.

• DAOs are potentially highly scalable organizations. Social DAOs are some of Coordinape’s largest users, but many quickly grow to the size of a mid-sized company, partially from decentralized methodologies. There are forty-nine DAOs with 25+ members using Coordinape.

• This past week on March 3rd, Osmosis TVL reached a record high of $1.85b. OSMO, the native token used to secure the Osmosis chain, which enables holders to take part in governance and pair liquidity with other assets in pools, also reached an ATH. With traffic up 10x over the past few months, more than 80% of Interchain DeFi liquidity, and half of all transfers being to/from Osmosis, the project is undoubtedly leading the effort to amplify IBC and Interchain DeFi adoption.

• The Osmosis community plans to broaden the Interchain’s horizons towards EVMs. The community is currently deciding on which bridge to use in their town hall discussions. Soon, stableswap pools can be optimized using a custom AMM curve design - another one of Osmosis’s unique design capabilities.

• Superfluid staking is an unprecedented approach to crypto-economic security. Governance plans to add it to additional pools, and then introduce interfluid staking, where both tokens can secure their respective chains. The Confio team is building Isotonic, which enables borrowing/lending with superfluid LP shares.

• The Bankless DAO is a decentralized community with a mission to help the world go bankless. Its goal is to drive adoption and awareness of bankless money systems. BANK is the DAO's governance token. It can also be used to fund initiatives that pass a governance vote. Since Bankless wants to reach over 1b people, the DAO emitted 1b BANK at time of token genesis. BANK token ownership has grown steadily, with over 4,400 distinct addresses now holding BANK.

• The number of DAO members has remained relatively constant at around 1,700. Bankless DAO is discussing ways to adjust membership requirements. Proposals include reducing the 35k BANK requirement, selling periodic member passes, or giving access to anyone with sufficient domain knowledge.

• The BED index is an investment product created by Bankless in collaboration with Index Coop. BED is comprised of 33% Bitcoin, 33% ETH, and 33% of various DeFi tokens. BED has underperformed compared to the S&P 500 and to Gold. The index is a convenient way to gain exposure to multiple crypto assets when they seem undervalued.