DAO Report 03/12/23 — changes.
Hello Useless people!
The big news this week is a proposal the DAO Committee is putting forward about relaunching the token as Eclipse.
There is a more in-depth breakdown of the logic available in the proposal-about channel on Discord, but here are the basics:
As much as we all love the name Useless and the tongue-in-cheek nature of the token, we’ve evolved to be more than a meme coin. We have real utility now and we feel the name has been a challenge in using that utility.
The main challenge is that we have a utility called Eclipse that uses Useless as its token. We’ve had to explain to people countless times why they have to use this seemingly unrelated token to operate Eclipse. This would eliminate that.
We also believe that relaunching on Ethereum will provide us with the greatest stability and upside. Harmony is currently problematic, and the bridging issues have caused us all sorts of problems. The main contract would live on Ethereum, but utilizing multichain.org we will immediately bridge onto BSC and Harmony.
If you don’t want to move chains, you don’t have to. You will be airdropped the new token on whatever chain you currently reside. Also, since this has come up a few times, Ethereum gas is at the lowest it’s ever been, rivaling BSC now at times. Gone are the days of paying $100 to buy an NFT.
Finally, we’re still working on getting the Harmony rewards out. That will happen before the proposed relaunch for simplicity’s sake. The goal for this is to have it as simple as the v2 to v3 relaunch. All you’ll have to do is add the new Eclipse token on whatever chain you’re on.
We want your feedback on this! Positive or negative. The DAO Committee thinks this is the best way forward for the token to be successful, but you might disagree.
The current plan is to put this up for a vote on March 15th.
Last, but not least, Rebelyorkshire has created his weekly price graphic:
That’s all for this week!
Useless DAO Committee