Community Update #09 - Mainnet Strategy
10 weeks since the launch of Habitat, what's up?
Let’s take a moment and look at the past weeks of growth and work, check what's next to come until the launch and how the Habitat can champion the first weeks together.
Ethereum Ecosystem 🏙️
The mainnet experienced hardforks, upgrades, progress - the market saw euphoria, fear and price action. Submitting transactions on Ethereum is still highly expensive, the network is experiencing growing demand every day.
Ethereum has reached its market fit as a global platform for decentralised applications. Many users explore all the innovation and possibilities, but also still get to feel the hard reality of 700 Gwei transactions when everyone is on-chain.
Habitat’s Promise of Scaling ✌🏼
Even while mostly hosting DeFi-Apps, the Ethereum network can be a platform for many other decentralised applications. Some use-cases may be priced out right now, but Layer-2’s promise to make Ethereum more accessible again.
Habitat explores the field of decentralised governance using an application-specific rollup. The infrastructure is scaling the many possible voting and coordination functionalities for DAOs and decentralised projects which exist today.
The rollup is dedicated to support the execution of governance and voting, which will deserve more block space in the present and future. Leveraging technical capabilities to settle decisions and outcomes for communities living on Ethereum.
Community Growth 🌱
Looking at pure metrics, the Habitat Community grew organic and natural in the past weeks, using platforms like Telegram and Discord to manage the daily communications and offer help for new explorers.
Many Community members approached the genesis team early and offered help from the beginning, others check-in every now and then, leaving useful advice and some memes in the chatrooms.
Habitat's Governance experienced first careful participation and when challenges arose, members coordinated in an effective manner to realise a beneficial outcome for the project.
Workbench Updates 🛠️
One fundamental decision has been done on the token design: there will be no technical wrapper of the token. This is to avoid confusion of circulating supply in terms of HBT/xHBT and to ensure rollup stability.
💡 Just remember: Both HBT and xHBT share a maximum supply of 100 Million tokens. There will be no xHBT living on the Mainnet. xHBT accrues fees when staked and is used inside the users account to pay for transactions on the Rollup.
Progress has been done on the rollup-tech itself, but also in terms of ecosystem support, documentation, branding and interfaces:
General Rollup Progress:
Recent rollup upgrades enable under-the-hood staking tracking.
Voting modules return parameters like quorum threshold.
Delegation feature is in progress right now.
UX/UI wireframes are defined now and to be released until launch.
Habitat Docs WIP: https://docs.0xhabitat.org/
Helping LeapDAO to migrate governance to Habitat
Soon: ERC20 + ERC721 minting on the Habitat Rollup to create your own governance token for your community. 👀
Open Roles & Compensations 🏗️
Habitat is hiring! The operations shall grow and the project needs helping hands to do so. Best case: Someone who is interested in the mission, the tech and can deliver real value with code, designs or community management within the project.
From June on, operational funds are unlocked, and Habitat can compensate work done on the product/protocol and operations. Contributors can earn DAI or HBT.
🏕️ Want to join the camp? Check the Discord and introduce yourself :)
Upcoming Genesis Team Proposals 🗳️
After starting the rollup, assuring uptime and reliable finalisations will be the main tasks. The Genesis Team is advocating for some fundamental proposals to decide on. All done in the best interest to ensure sustainability and operational success of the rollup.
"Smooth Operator" - proposal to fund the operator to subsidize finalisation costs.
-> Summoning and funding a treasury which can pay the mainnet finalisation gas costs. Users only have to pay a portion of the actual transaction cost on the Habitat Rollup. This allows kickstarting first communities and users.
"Base Liquidity" - proposal to seed community owned mainnet liquidity pool.
-> Collecting ETH from the next Token Distribution Event. Pairing the collected ETH with newly unlocked HBT depending on market price/situation. This ends liquidity discussions and generates LP fees for all HBT stakers on the rollup.
"Audit is SAFU" - proposal to fund a full audit of Habitat until end of the year.
-> reaching out for an audit quote, collecting the funds and securing the slot.
Some further discussions will certainly evolve around the posted topics, the full proposals will follow within the next weeks.
Every token-holder is empowered and can propose what they think should work best for the project - place an vote or create your issue: https://0xhabitat.org/evolution/.