Understanding Phase: 2
The Movement DAO: Swapping, MIPS, Staking, & Spheres
Token Swaps Success
Since the announcement of the token swap in August, the number of tokens swapped and minted is 628,646.21. We still encourage the community to participate in this swap to gain access to this governance token, and it’s upcoming staking benefits.
A Path Forward — MIPs
MIP stands for Movement Improvement Proposal. A MIP is a design document providing change information to the Movement community or describing a new focus area for the Movement. Read more about the process here or visit our docs page.
DAO Funded Staking APP — MIP:001
The first MIP was submitted to the community and passed. This proposal creates a Reward Pool Fund of 300,000 MVT for an upcoming staking application. Stay tuned for more information.
Spheres: Isolated parts of the whole
Spheres are sub-communities organized to support each other and the whole. Community members are encouraged to start spheres of their own and grow freely. Connect and Create.
One such community sphere, Greenpoint Land Reserves, is a nonprofit arm of the DAO registered in the Crypto-Friendly state of Wyoming. This strategic move aligns them with future regulations and gives physicality to the will of the DAO. GLR purchased virtual LAND in Decentraland to create a mirror of its future operations. You can visit their Kiosk Here.
I hope this message finds you all well. Stay tuned for more information!