Hello everyone! The Instadapp Governance has gone off to a great start; we have passed two on-chain proposals and have created a framework for streamlining integrations. The team has started development on Assembly and we are seeing lots of interest in contributing and growing interest from other protocols and DApps to build on Instadapp.
Here is additional on-going development:
Mid-Summer Review
We are about halfway through the liquidity mining rewards, and DeFi Summer so I would like to have a cool down and present to the community a sort of short overview of some of the goals; places for growth and other areas we should focus on in the next few months as we continue to grow into an independent DAO.
Communications
The Instadapp team is relatively small and heavily focused on developers. This is an area where a lot of the community can participate and contribute to building stronger communication channels. Documentation, tutorials, and translations will all assist in helping grow the Instadapp product and experience. Documentation in particular is a constant progress as the platform evolves so Documentation and other similar tasks can be handled by the community. We may also need to conjure a memelord.
Education
In a similar vein to communication; I think Instadapp should take a larger role in the education process of DeFi users. I think protocols like Zapper.fi have been really outstanding at creating a walkway for their users. In particular with Instadapp Assembly, we have a great opportunity to build a hybrid DApp that both educates and executes DeFi or create a tutorial extension that gives new users a structured path to DeFi proficiency. There is a lot of room for growth here and as we continue to be one of the largest projects by TVL new users will gravitate towards us; let’s really take notice of these users.
Integrations
How do we promote integrations? What kinds of products and protocols should we reach out for cross pollination. There are some amazing DeFi protocols that could grow exponentially by building a strong use case within the Instadapp Ecosystem. Let’s start highlighting the types of projects and integrations that will bring maximum utility and value to Instadapp.
Polygon and L2 Shift
Over time more people are accessing DApps through layer 2 solutions. I think there could be dedicated contributors to building out and exploring L2 solutions. Instadapp has aspired to ‘be your own bank,’ solutions like Polygon bring us a lot closer to this. Should we have individuals specifically exploring, researching and looking towards this avenue?
Analytics and Revenue Model
The community has had several discussions around revenue models; the team has done data analysis on transaction use, but I believe this data can be synthesized in a more meaningful way. There is room for an accountant, treasury management and other groups and individuals to help shape out specific goals as well as business plans, key performance metrics and other business development around the $INST token. We also could use a strong analytics dashboard and data scientist to help in quantify and analyze different parameters of the DSL.
First Contributor Payout
Earlier today we submitted the first payout for July’s Contributors! If you are interested in contributing to Instadapp please fill out this form here: https://forms.gle/TkSzFXYRmnDxRcVT9
This initial payout was a bit early, next month we will finalize the contributor list by the 20th and submit payouts towards the end of the month.
Growing Community
The initial interest is really exciting! We have over 25 people with a wide range of skills fill out the form above. I will in the next few days organize us in Discord based on our skills. I also think we should also have a community call as well to more openly discuss goals and structure.
The Next Steps
@miscao and @CPix18 have separately mentioned Guilds or smaller groups to organize our skills and goals around; I agree with this idea. @miscao and I will organize ourselves into smaller groups; ideally I would like to keep it to no more than 4 smaller groups, and as we become larger we can develop more specific groups. We will continue to have conversations here, on Discord and in a future community call.