Pharo Digest — 2/8/2022
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, one of our Founders, articulately discusses the NFTs and the relationship with the DAO as well as the IDO.
NOTE: we had a technical issue and were only able to capture the second half of the call, we will do better next time! We are good with crypto, we are leveling up in Discord :)
If you want to chat more, MEET WITH US AT ETH DENVER! Link up with us on Discord to learn more: https://discord.gg/68c4fgzQ
What We Discussed
This week we discussed “Governance Dynamics as regards NFTs v Token Holding “ As @Aphilos • Pharo has summarized: “Pharo wants to prioritize the voice of people who share our long term interests. To support this, the Pharo DAO will prioritize proposals by Pharo NFT holders over other proposals.” Effectively this means that NFT holders will have a “priority lane” for their proposals. @Aphilos • Pharo also acknowledged that NFT holders are actually able to drive development resources based on the proposals that they put up. These resources are both the Pharo available as well as where the exec and development team focus their efforts. NFT holders may even think about creating bounties that engage others in developing new Markets or the DAO overall may put up bounties to help Pharo scale.
Additionally in our NFT Hodlers chat we had a great discussion around PHRO Token Discounts with @Aphilos • Pharo summarizing the two paths to major savings. Effectively, as with other coin releases, grabbing tokens early and staking will yield the greatest rewards.
Keep in mind that our initial market will focus on coverage around SHIB and the associated volatility. This week our founders, along with our developers, have been working on the updated Pharo UI as seen below in advance of Eth Denver:
We get that the math is going to be confusing therefore aggressive development is being placed on Rate Estimation for all users of the system:
In addition we know tracking position / policy is critical so in addition to the rate estimates work we are focusing on the end user UI as well with the position / policy tracker as seen below:
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: