Pharo Phireside Chat
The Pharo Phireside Chat takes place on most Mondays amongst the Pharo Founders, Advisors, Developers and our strongest advocates, our NFT holders. The recording of the chat is here for your enjoyment — @Aphilos • Pharo, discussed our plans for Eth Denver! In addition we briefly discussed the community point system which we will deploy. This point system will allow our community to organically grow and elevate the roles of NFT holders in the DAO. We also discussed the potential ability to stake Pharo NFTs as collateral in the @benddao.
What We Discussed
We are getting ready for Eth Denver, and we hope you are too! We’ve made a reservation at the Pints Pub downtown in Denver, respond in the general channel if you’d like to join us! This place looks really cool and has been brewing their own beer since the 90s, it will be a blast for all. For those of you that ski there has also been some discussion around going skiing at Breckenridge. Additionally for our NFT Holders we have t-shirts, make sure you grab yours today. Come join us in discord and connect with us, the first round of drinks is on us! https://discord.gg/68c4fgzQ
We also discussed the evolution of the Pharo NFT and the potential ability to stake a Pharo NFT in the Bend Dao. Since Pharo NFTs are dividend yielding, they can increase the potential loan you are able to take out. As the value of the NFT rises the loan size and stability increase. Find the tweet, share and like, help us grow the partnership!
Of greatest importance is our drive to release on testnet and going live with our 7-day rolling contest on the volatility of SHIB. We will discuss this reward opportunity in further discussions, make sure to join our AMA at 4pm EST in the Pharo Discord.
JaxCoder and Aphilos, in coordination with Gravity Finance and KingKettle, have been working on a Pharo Community DAO program to reward (fiscally) and elevate (position in DAO) those who are growing and engaging in the community. While we are building the protocol and will kick start the business, ultimately the DAO and its members are responsible for Pharo. This means everything from supporting other users to dictating where the development resources and time are used. The point system we are working on is an attempt to create an “index” of members’ activity. A sample proposal (in pseudo code) is below:
Scope: everyone is eligible for points, however only NFT holders will have points evaluated, therefore someone without an NFT can earn points and when they mint an NFT those points will be recognized and their status and multipliers will be applied.
NFT Multiplier level is based on the NFT Rarity:
- Common = Level 1 (1x)
- Rare = Level 2 (2x)
- UltraRare = Level 3 (3x)
NFT Tranche Multiplier is based on fibonacci by tranche multiplier across 5
- Tweet: 1 point per tweet w/ (Pharo OR Phro OR PHRO)
- Tweet: 2 points per tweet w/ (nft.pharo.tech OR IDO) & (Pharo OR PHRO)
- Tweet: 3 points per tweet w/ (#dividendNFT & nft.pharo.tech) & (Pharo OR PHRO)
- Tweet: 4 points per tweet Tagging 2 People & 3 Point Tweet
- Twitter Likes: 0.25 per like of any tweet above
- Twitter Retweets: 0.5 per retweet of any tweet above
- Discord: 0.25 / keyword used in appropriate channel conversation
- Discord: 1 per conversation started and engaged
- Discord: 2 per question answered
We believe that the above activity highlights and captures the most important actions of our NFT holders and community ambassadors. The roles that are outlined in the DAO will be based on these points, as will future airdrops. We are eager for your input here, please join us in the discord and share your ideas on how we can develop this further.
Be on the lookout for more updates here on medium and join our discord server to stay as up to date as possible. https://discord.gg/68c4fgzQ
About Pharo NFTs
We are seeking partners to drive that cascading confidence and this is our call for partners. So come join us on this journey, buy some Pharo or an NFT — which earns you dividends by the way — and establish your place in the future of DeFi. Pharo will continue to build and release more markets and you will be uniquely positioned to continue to take advantage of this growth. As your confidence builds and you stake more, the confidence of other users in both Pharo and DeFi will rise. The future of finance is DeFi and we, with your help, will build the tools that guarantee stability in the future.
Pharo is an Automated Coverage Market Maker (ACM), an evolution of the Automated Market Maker concept (AMM). In an AMM, Sellers are facilitated by Liquidity Providers who are rewarded for assuming the risk until a Buyer can be found. In an ACM, Cover Buyers are facilitated by Liquidity Providers, who are also rewarded for assuming the risk of covering an event before it’s expected to happen. For more information take a look at the following blogs: