Investor Information
Strategic roadmap
As we are just at the start of our journey, there are a lot of challenges ahead that need to be solved along the way. Here we would like to summarize the next steps that lie ahead:
- Obtain a legal wrap for the DAO: To be actionable in real-world negotiations and to take liability off from team members and DAO stakers, a legal DAO wrapper is inevitable. We think its a good idea to put this into the hands of a experienced team from Legalnodes, which would cost the DAO a monthly subscription of roughly 500$ … This is a reoccuring expense and summarizes to a total of 6.000$ per year
- Create a USDC – nRide pool: Our current Liquidity is pooled mainly along with osmo, which turned out to be a rollercoaster in price action: from 1.75$ down to 0.20$ it dragged and ate our Liquidity and put the project close to a final breakdown. Luckily Martin arranged the last two conference expenses from his own private funds. So to get rid of DEX farming tokens, we would like to use OTC traded USDC to build up a profound locked Liquidity Pool- good for you: you can cash out your nRide tokens anytime you want – and good for people that want to get onboard too…
- Create a runway to cover future expenses for a nRide live-pilot program: We have two team members in New York City, that could arrange a real live service in cooperation with local taxi companies: as long as there would be a steady demand for a crypto-based ride-hailing service. Taxi companies don’t have much time for experiments- the market is pretty hard and saturated in terms of pricing policy and staff aquisition. It’s essential to make the onboarding as easy as possible for passengers, but as well reliable and secure the offramping for drivers. We are neither a bank nor a payment-service- we are just a small missing link in a greater puzzle of digital economy, trustless payment methods and a new upcoming digital infrastructure
- Get in collaboration with other crypt-related real-world services: Together the web3 movement can be much stronger than fighting itself: We want our app to be modularized integrated into mobile-wallets, car media devices, or even smart watches- If you are working in any field where a ride-hailing widget would make sense- get in contact with us. For good contributions and profound works the DAO will compensate your efforts
- Currently our tokens is practically inflationsless, because the mainnet hasn’t been launched yet. We would like to postpone that launch under better overall market conditions, as with starting inflation the token price will likely drop. To perform a successfull airdrop and overall token launch, we need a sustainable Liquidity, a strong media presence and good ways for people from all ecosystems to buy the token. Right now, it still takes too many circumstances for most people (install new wallets, use unknown bridges…) so we need to focus on easy onboarding and token representations on multiple DEX’es
- The osmosis pool liquidity is deployed from the DAO’s treasury via Proposal A27, which were 12k$ back then. Traded Osmosis Tokens and USDC shall be deployed the same way to improve liquidity.
- As we are open for long-term aligned investment groups that would like to join the nRide venture, please don’t hesitate to get in contact with us
- As a truly on-chain governed venture, our TGE was executed using the DAODAO framework- so there are no hidden token allocations or behind-the-scene deals- imho pretty rare in the space…
To onboard early investors without relying on third party (mostly CEX’es or self-entitled VC firms…) we use strictly Over-the-Counter Escrow contracts out of the DAO’s treasury wallet, to make all buys as safe as possible for both sides.
Token price will be determined using the SMA3 ohlc4 on the Daily, to smooth out peaks in both directions.
Here is a first glimpse how a real on-chain OTC escrow contract works with daodao governance framework :
OTC Contract is audited by oak security to be found on github
Video Text transcription
Welcome to Dr token swap contract guide. In this guide we’re going to walk through token swaps, how to create a token swap, what token swaps are and why they’re important.
Firstly, a quick rundown on token swaps: In downtown they are a trustless swap between two parties where the originating party instantiates a contract to swap one token for another token and the counterparty funds their half of the contract and the contract acts as an escrow in between the two parties. When both parties have paid their share, the contract distributes the tokens to both parties. In the meantime, either party can cancel or withdraw from the token swap contract and get their funds back.
In this example, we’re going to do a swap between the ramadau and my Rama wallet. We’re going to do that by initiating a new proposal where we’re going to do a token swap between ramadower and run for Pepe.
In our actions category, we’re going to go to Dao treasury, scroll down, and we’ll find a token swap. Pretty straightforward – what we’re going to do is perform a token swap between one hour. This can be done from an individual wallet, and I’ll show this shortly.
Essentially what we’re going to do is put/paste in our counterparty wallet address (ignore the pop-up). Counterparty wallet address, the tokens that we would like to receive from our counterparty. In this instance, we’re just going to do you know 0.1 Juno. That way we can check my wallet and I’ve got a 4.4, so we’ll see that’ll go to 4.3.
What we’re going to send in this particular demo, we’re going to send a million Pepe. By creating this as the Dow, we’re going to instantiate the Token swap contract. When we execute the proposal, we’re going to fund our half of that contract. Then we’ll go to the Rama wallet where we’ll fund the counter half.
At the moment, because we haven’t published and executed this proposal, all we’ve done is created a contract. Maybe what it will do here is we’ll just go to minscan really quickly, paste in the contract address, and give that a moment to load. We can see here that there’s no funds currently in the contract at all, and eventually might just need a little bit of time for the indexer. We’ll revisit that, we’ll publish this and fund outside of it.
What we’re going to do is pass this proposal, fund our 1 million Pepe into this side of the contract. Excellent. Over yes, and we do need to provide this contract address to the counterparty, so I’ll quickly click this and copy it and see that that we’ve got the tick there to say that I’ve copied the contract address.
Fantastic, pass another another transaction, wait for our execution to occur, and our contract should exist. Excellent, we have a transaction says our contract should exist, and there we have it. So this is on mint scan, I’m not going to go into this in too much detail, it’s probably a little bit confusing, but this is just verifying that we have a token swap contract between counterparty one for a million Pepe and counterparty two for point one Juno.
Fantastic, uh we can see that we’ve paid our 1 million Pepe into from the Dow half, and now we’re waiting for Rama to pay his side. So we’ll click on the me page, this will take me to the transaction Builder again. Ignore the pop-up, I don’t know why my antivirus does it. Uh we’ll go to transaction Builder, we’re going to fund an existing token swap, paste in the address, click continue, and we can see here that this is currently unpaid.
What I will very quickly do here is I’m just going to go back to the Rama Dow, open up a new tab, probably get another pop-up here, that’s perfectly fine, we’ll continue. We’ll open up a new proposal, and I just want to show you the withdrawal of the token swap. So again actions Dow treasury withdraw token swap, we can come in paste our contract address, click continue, and what this will do is if we pass this proposal, it’ll refund our 1 million Pepe because Rama hasn’t paid his side.
So the tokens haven’t been swapped, and either party can do this before the actual execution. So um just wanted to add that in there that you can cancel it, you’ll get your tokens back, super safe, and I really really like it. But just back on the me page, we’re going to pay our 0.1 Juno. So we’ll just execute this uh from the Rama side, fund 0.1 Juno, and when the transaction goes through, we’ll see that 4.3 and we’ll go back to the ramadour look at the treasury, scroll down, and now there’s zero Pepe in there.
So we can see that we’ve just done a trustless uh token swap between two parties. We’ll paste in our contract address again, says it’s unpaid that’s untrue, but there we have it. There we go, blockchain’s finally updated. You’ve already sent you a share of this token swap contract is closed, both parties have paid their portion, and that is data token swaps. See you on the next one.