VestaDAO - The Hub of Metis
Introduction
VestaDAO’s goal is to establish itself as the hub of reliable information within the Metis ecosystem. As more projects expand to Metis, the disconnect between consumer and dev grows. White papers and protocol docs read like a compendium of buzzwords rather than anything useful. VestaDAO is here to cut through the bullshit.
We believe in the power of reliable, unbiased, information. Our aim is to leverage this power to not only foster community and trust, but also to return real tangible value to our token holders.
Think of Vesta as a Community Focussed Media Organization
Problem
- The web 3 space (and Metis in particular) has a pandemic of shitty information with little to no oversight. How many times have you found yourself reading a project’s docs, only to realize 16 pages in you still have no idea what they do or why it might be a good thing?
Solution
- Our solution is simple - deep dives into new and existing projects with unbiased pros and cons - project by project we aim to demystify the ecosystem. We’ll build off of the interviews we’ve already conducted; but look to move away from hype focused and stick to straight facts.
- Starting immediately we will be releasing deep dives on projects within the metis ecosystem; these deep dive investigations will not only dive into the project itself, but also the founders, the tokenomics, and how they stack up against similar projects both within Metis and elsewhere in web3.
Value Proposition
We believe in the power of information. Our project’s success depends on becoming the hub of information within Metis - our aim is to become a force that cannot be ignored and to situate ourselves such that our stamp of approval can jumpstart any new project lucky enough to receive it.
Once we have established ourselves in such a way, we will leverage that influence with new projects who wish to receive a review from us before launch. This might be in the form of airdrops or TGE whitelists for instance.
Uniqueness Factor
Despite the circumstances under which VestaDAO was formed, see VestaDAO History,
we actually have a few things going for us:
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Impartial: Not only is there a big gap in the market for consistent project reviews but there is even a bigger gap for coverage that is impartial. We feel it’s necessary for our success to remain without any bias when covering projects. We are bullish on Metis but won’t be holding back when researching to create a safer, more informed, and smarter community.
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Wide Open Market: It is actually crazy that no-one has moved to fill the information void in the Metis ecosystem - with the Metis Ecosystem Development Funds (EDF) being distributed (~$15million to be distributed this year at current prices) we should begin to see a flood of new projects deploying in the near future. Given the full EDF amount allocated to project grants is almost $100million at current prices we should continue to see this in flow for several years. This creates an opportunity waiting to be taken.
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Network and Hustle: Our project lead, Cobi, has not been idle for a second since taking over. He earned a bunch of good faith for taking over the project and has been busy creating a network across the Metis ecosystem. This positions us perfectly to gain help and support in the early days of our plan, including privileged access to dev teams of existing projects.
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Great Community: It’s a bit cliché to say - every community claims to be the best. Our community doesn’t just talk the talk - they believe in the future of this project. This is something that can’t be bought or faked - and something we’re not only extremely grateful for, but also a powerful tool we plan on utilizing.
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Low Market Cap: What can we say? We’re currently a small fish - but we view this as a strength; much better growth potential and the opportunity for the most faithful of our supporters to own a significant chunk of our future.
Benefits for Users
- Reliable Information:
- VestaDAO aims to provide deep dives into new and existing projects with unbiased pros and cons, helping users to make informed decisions based on facts rather than hype.
- By cutting through the jargon and buzzwords commonly found in white papers and protocol docs, users can understand what a project truly does and its potential value.
- Trust and Accountability:
- Our deep dives will not only cover projects but also their founders and tokenomics, fostering transparency and trust within the community.
- Users will have access to interviews with project founders, providing clarity and firsthand information.
- Community Engagement:
- Users can participate in the community by sharing VestaDAO’s deep dives and first impresions, challenging misinformation, and contributing to discussions, thereby becoming part of a trusted information hub.
- There are plans to gamify this engagement process, potentially rewarding active community members in the future.
- Prioritized Alpha:
- VestaDAO holders will get priority access to valuable insights and information uncovered during our deep dives into projects, offering them a competitive edge.
- Exclusive Benefits:
- Users will benefit from early access, discounts, and giveaways through partnerships like the one with Layer 2 LoFi Llamas, and potentially other partnerships in the future.
- Governance Participation:
- Users will have a say in important decisions, such as leadership elections, the fate of unclaimed tokens after migration, and any token holder will be able to submit a proposal and bring it to vote through VestaDAO’s governance mechanism.
Benefits for Metis Ecosystem
- Enhanced Transparency:
- By providing clear, unbiased information, VestaDAO helps to demystify projects within the Metis ecosystem, making it easier for new and existing projects to gain trust and credibility.
- Encourages other projects to engage in honest marketing and communication.
- Improved Project Quality:
- With rigorous deep dives and transparency, VestaDAO sets a high standard for new projects, pushing them to meet these standards, thereby improving the overall quality of projects in the ecosystem.
- Community Trust:
- By acting as a champion for the average investor, VestaDAO aims to rebuild trust within the Metis ecosystem, which is crucial for its long-term success.
- Reduces the prevalence of bad actors and projects with no tangible value, fostering a healthier ecosystem.
- Support for New Projects:
- VestaDAO’s reviews and stamp of approval can help new projects gain visibility and credibility, potentially jumpstarting their success.
- Provides a platform for new projects to be scrutinized and understood, helping them to refine their offerings and align better with community expectations.
- Informed Investment:
- By offering thorough analyses and factual information, VestaDAO helps investors make better-informed decisions, which can lead to a more stable and prosperous ecosystem.
- Supports the EDF initiative by ensuring that projects funded through it are transparent and trustworthy.
Roadmap
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Migrate from meme and relaunch on Hercules DEX (complete)
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Relaunch our project reviews with new unbiased approach and hired team members (complete)
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CEG
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Leadership Elections - On Chain voting
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Begin official DAO structuring to become “sufficiently decentralized”
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Grant Proposal
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NFT collection partnership (L2LL)
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Lending/Borrowing partnership
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Official VestaDAO NFTs of our Newsletter - Each issue will have it’s own NFT that has a chance of degrading over time like a comic book or newspaper.
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Our end game is generating revenue to share with $VDAO token holders. Growth, consistency, and relevance is imperative for this. Focusing on value first and worrying about revenue later.
Summary
In summary, Vesta aims to be the hub of information on Metis. We picture our website to be one of the first places one can start when researching our beloved ecosystem. Our emphasis will stay on remaining impartial and providing no bullshit info. As you see above, we have some pretty cool shit planned and won’t be forcing direct token utility outside of governance.
Not only do our project reviews come without a bias, but now more than ever, come without any bullshit.
We aren’t afraid to ask the hard questions.
We aren’t afraid to make enemies if it means keeping users, investors, and traders of Metis safe and more informed.