28 posts tagged with "update"

Project creators can now use rich text formatting in their project descriptions. This means that you can add style and organize your description using basic formatting like bold and italics, headings, links, adding images, and more.

You can learn more about these updates in this article, or this walkthrough by Brileigh on JBDAO YouTube:

Step One: Connect Wallet and Manage Project​

So, first things first, make sure your wallet is connected and head over to the project that you control on juicebox.money. We’re gonna use The Juicecast on Goerli as an example. From here we’re gonna click on Manage project in the top right.

Step 2: Basic Details​

Next, we’ll go to Basic Details under General. Here you’ll see two new fields under your project name. You can add a tagline, where you can add a brief one-sentence summary of your project. And below that, we have the project description where we can add a more detailed summary of what this project is about, why you should contribute, and add some links and images for context.

Step 3: Introduce yourself​

You can start from scratch in the editor or copy and paste some text you already have. Start with an introduction either about who you are or what the project is about. This where you can tell your story to connect with your audience. Here are some tips to consider:

• Use headings like H1 or H2 to help organize the structure of your summary. This is especially helpful for long project descriptions so that potential backers can easily skim through your text to find what they want to know about you and your project.
• When referencing subjects in your summary, it’s a good idea to hyperlink text so that people can know more about something if they’re interested. This is also a great way to build trust if you want people to know more than what your wallet says about you or the project.

Step 4: Add images to break up text​

Adding visuals to your project description is really important because it helps break up text, especially if you have a long description. To add the image, click on the image icon and upload the photo. Examples of images you could include are:

• Photographs (if you have hosted IRL events or have a product you want to showcase)
• Infographics (to explain complex aspects of your project)
• Brand materials (logos, typefaces, anything you want to show off that you think will resonate with people)

Examples of different images you can add to your project

Step 5: Tell people your “Why”​

Once you’ve explained what your project is about and how it works, consider adding reasons why people should contribute to your project. Whether you’re on Juicebox or another platform, it’s important to think about why someone would want to contribute to your project, what they might receive in return. You can add more images if this helps contextualize what you’re seeking funds for and why.

Step 6: How can people find you and get involved?​

Good contact information helps build trust and makes you more accessible. Adding links for contract information or how to get involved in a Discord is great way to make your project more inviting to potential supporters. You want to make it easy for people to find you if they want to.

Step 7: Save project details​

Once you’re finished editing your project description, scroll down to the bottom and click Save Project Details. This will prompt a transaction that you’ll need to confirm in your wallet. This could take a minute to save and update on juicebox.money. Once it’s done, you can click on the X in the top right and it will bring you back to your project page. Simply refresh your project page, click on the About tab and you’ll see you’re new fully stylized project description! And that’s it!

Conclusion​

If you have any questions or need help along the way, jump into the Support channel in Juicebox Discord If you want some one-on-one help setting up your project, reach out at juicebox.money/contact. And if you want to stay on top of the latest news, features, and trending projects in the Juicebox ecosystem, make sure to subscribe to our weekly newsletter Juice News.

Relevant links​

🐦 Follow Juicebox on Twitter: @juicebox_money

📬 Subscribe to Juice News, our weekly newsletter

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ Listen to an episode of The Juicecast

Project Pages on juicebox.money now have a dedicated Updates tab to keep your community informed on the latest news. This can be used for announcements, new milestones, events, partnerships, or any new developments that relate to your project.

You can learn more about these updates in this article, or this walkthrough by Brileigh on JBDAO YouTube:

For this example, we’ll be using The Juicecast project on Goerli. If you aren’t already familiar, The Juicecast is a series of conversations with builders and creators in the Juicebox ecosystem and beyond. In this example, We’ll post an update informing the community about our new NFT collection that lets supporters sponsor an episode.

Step 1: Connect Wallet & click on the new Updates Tab​

The first thing we’ll do is connect our wallet. On your project page, you’ll notice a new tab that says Updates.

Step 2: Add project update​

In this section you’ll see a button that says Add project update, click it and it will prompt a signature request. This is so that the update can be verified by your wallet. No charges or gas fees will be made against your wallet.

In the pop-up window you can add a title and message for your update. Make sure that your message provides enough context and clearly conveys what you want to communicate to your community. You also have the option to add an image that’s relevant to your update. Keep in mind that this will be cropped to a horizontal rectangle ratio of 288px x 566px.

Step 3: Post Update​

When you’re done, click Add update to post your update.

And that’s it, all done! The page should refresh automatically or you can refresh it yourself, and you’ll notice a number next to the Updates tab that keeps track of how many updates have been posted. The update will also include the date it was posted as well as the wallet that signed the message.

Reasons to use Project Updates and tips​

Keeping your community in the loop is one of the best ways to ensure your projects' success. The more your community hears from you about what you’re working on, the stronger the trust will build and increase the likeliness of getting more funding from both new and old supporters.

Here are a couple tips for posting updates for your project:

• Don't make vague statements that could mislead your community. Posting updates is all about building trust with your supporters: don’t overpromise and make sure that your message is crystal clear.
• The more active your project, the better. Being consistent means finding a balance so that your community isn’t spammed with updates or on the other hand left wondering if the project is still active months later.

Keep your eyes peel-ed for more features like markdown formatting and images in project descriptions as well as the ability to subscribe to project updates via email.

Relevant links​

🐦 Follow Juicebox on Twitter: @juicebox_money

📬 Subscribe to Juice News, our weekly newsletter

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

🎙️ Listen to an episode of The Juicecast

Project pages on Juicebox have been revamped including a new layout, new checkout experience, and bookmark feature. These updates were made possible thanks to PeelDAO, the front-end team managing juicebox.money, user interviews, and feedback from JuiceboxDAO. You can follow along in this article, or this walkthrough video by Brileigh on the JBDAO YouTube:

For this example, we’re going to look at WAGMI Studios: the creative studio behind all of the juicy art on juicebox.money.

Artwork by Sage Kellyn from WAGMI Studios

We’ve simplified the layout and added a new section with key project stats that give you a sense of a project’s activity. You can see how many payments have been made, total volume in ETH, and a trending percentage for the last 30 days.

We’ve added tabs to help navigate different aspects of a Juicebox project like Activity, About, NFTs, Cycles & Payouts, and Tokens. You can also click on the Cycle block to get to the Cycles tab, or click on NFTs to get to the NFTs tab.

One of the biggest changes that you’ll notice is the new cart experience when paying a project: you can add things to your cart and review a summary before submitting your transaction. As you add or remove NFTs, the summary will keep track of what is in your cart. If you click anywhere on the summary bar you can get a more detailed view with both the NFTs added to your cart and the project tokens you’ll receive.

You can also pay a project without choosing any NFTs using the pay bar at the top. For example, if you pay 1 ETH to Wagmi Studios and click on Summary at the bottom of the page, you’ll get a message saying “You are eligible for 3 rewards,” which are the NFTs. You can click “add rewards” to include them, or if you change your mind, simply click on the trash icon to remove them. This gives you the option to opt-in or opt-out of receiving NFTs when contributing to a project.

You’ll also notice a new block in the top-right with a live countdown of the project’s current Cycle. Click and it’ll bring you to the Cycles & Payouts tab where you can see current, upcoming, and past Cycles as well as any Payouts that have been configured.

If you’re browsing a project and want to come back to it later, you can bookmark it to save it to your Saved Projects in My Account. To do this you’ll need to have your wallet connected, click the Bookmark button on a project page, and sign with your browser wallet. You can then hover over your wallet in the top-right, click My Account, and then go to the Saved Projects tab.

That’s all for the project page for now. Keep an eye out for more new features like Project Taglines, editing descriptions with markdown and the ability to post updates about your project. Drop into the Discord to let us know what you think about the new Project Page. Please report any issues in ⁠the Bugs channel or request a feature here.

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📹 YouTube Tutorials

New website just dropped for the Juicebox Protocol

After countless workshops, discussions, and pull requests, the website for juicebox.money is now live featuring the new homepage, About page, and Success Stories, as well as some exciting new features like improved search and project tags. The new website was made possible by PeelDAO, the front end team building and maintaining juicebox.money, and WAGMI Studios, whose juicy artwork is featured throughout.

You can follow along in the video below or in this article.

The Homepage​

Let’s get started with the homepage. At the top we’ve got a call-to-action: create a project and Fund your thing. And right below you can see a few trending projects built on Juicebox, so you can browse what creators are building and find some projects that align with your values and interests.

Hero: Fund your thing, trending projects

You’ll also notice some categories at the top like DAO, NFT, and Fundraising. Those are a new feature: Project Tags! So for example, if you click on DAO you’ll be able to find projects that have added that tag. You can also use tags to filter your searches. Keep in mind that this is a new feature and not too many projects have added tags yet. Give it a try next time you’re browsing projects.

Explore Projects​

Once you’re on the Explore page, you’ll also notice that search has been completely revamped so it’s now way easier to find specific projects or browse to find new ones. Looking for projects by Krause House? Try searching terms like “NBA”. If you’re feeling nounish you can search “nouns” and find projects in the Nouns ecosystem like SharkDAO.

Explore page

Mental Models for Juicebox​

So going back to the homepage, you’ll see a few examples of the different types of projects that you can build with Juicebox. Whether you’re starting a DAO, crowdfunding for a cause, launching an NFT project, or building something else, you can manage the funds transparently with your community.

Mental models for Juicebox

Introducing Success Stories​

If you’d like to know more about past projects that have been successful, we’ve created a new Success Stories section which tells the story behind projects like ConstitutionDAO, MoonDAO, SharkDAO, and StudioDAO. Each case study will tell you how the project got started, how they set-up their project on Juicebox, and how they found success.

Success Stories

How, What, and Why you should Juicebox​

Back to the homepage, next we have a quick summary of how Juicebox works, including setting up your project with rules to build trust, managing your treasury onchain, and building your community with token and NFT issuance. You can also find a link to the docs if you want to learn more. Next we have a section highlighting some of Juicebox’s core strengths. Juicebox is:

• Community owned
• Reliable and transparent
• Trust minimized
• Flexible
• Extensible

What is Juicy Picks?​

After that we have the Juicy Picks section, which is a new section of curated projects on Juicebox that really stand out from the crowd. These projects will rotate on a monthly basis and will be chosen by the Juicebox community. Below this section you’ll find a number of categories you choose to find a project that’s right for you.

Juicy Picks for May 2023

New FAQ​

If you still have some questions, make sure to check out the FAQ section near the bottom of the homepage.

How to get in touch​

Last but not least, you’ll see a button at the bottom to contact onboarding. So if you’d like more personalized assistance while setting up your project, reach out via the contact form or join the Discord.

Shoutout to Sage Kellyn from WAGMI Studios for the amazing art and illustrations throughout the website. Juicebox really wouldn’t be the same without it.

New hero illustration for juicebox.money by Sage Kellyn

Banny, along with a fruity assortment of new characters have been reimagined to embrace Juicebox’s new brand identity. Paired with a slick sans serif Agrandir, a font that “celebrates the beauty of being imperfect,” the Juicebox brand update keeps the protocol fresh while acknowledging its punk origins.

New About Page​

Under Resources in the top navigation bar you’ll find a new About page for Juicebox. Here you can read about our mission statement, goals, learn about about the protocol and Juicebox DAO, the contributors at Juicebox, as well as our values.

Sections of the new About page on juicebox.money

The Juicebox protocol has grown a lot since its launch in July 2021. From contract versioning and audits to feature developments like tiered NFTs, to metaverse concerts at the Juice Lounge, countless members of Juicebox DAO have shaped what it is today through its active governance. Juicebox doesn’t drink from the kool-aid, it leverages the power of collective action through its community to help passionate creators and builders successfully launch and scale projects, openly on the Ethereum blockchain.

Screenshot of old version of juicebox.money

What are you waiting for, anon? Come explore the world of community-owned DAOs, fundraisers, non-profits, and other projects running on Juicebox today.

🐦 Follow Juicebox on Twitter: @JuiceboxETH

💬 Join the Juicebox Discord

🚀 Trending projects on Juicebox

📚 Project Creator Docs

📹 YouTube Tutorials

Got JBX? This guide is for you!

Juicebox V3.1 contracts are now live and the V3 JBX token has been deployed to mainnet. If you hold V1 JBX or have unclaimed tokens from the Juicebox V2 project, you can now migrate to the V3 JBX token.

V1 JBX token address: 0x3abf2a4f8452ccc2cf7b4c1e4663147600646f66

V3 JBX token address: 0x4554CC10898f92D45378b98D6D6c2dD54c687Fb2

Before you start​

Here are a couple things to keep in mind before starting:

• The migration process will ask you to submit 3 or 4 transactions
• This process can take 15 minutes or longer
• You can migrate your tokens over time

The following guide assumes the following:

• you have V1 JBX and/or unclaimed Juicebox V2 tokens
• you use Metamask as your browser wallet

Your steps may vary depending on your situation. If you have questions, please visit the Support channel in Juicebox Discord.

Step 1: Navigate to the JuiceboxDAO project​

Connect your wallet and navigate to the JuiceboxDAO project: https://juicebox.money/@juicebox.

Step 2: Tokens tab​

Select the Tokens tab and refer to the Legacy tokens section. If you have JBX from JuiceboxDAO's V1 or V2 project, you should have legacy tokens. Click Migrate tokens.

Step 3: Grant permission for V1 tokens​

Click Grant permission for your V1 JBX and confirm the transaction in your browser wallet.

This transaction grants the V3 JBX contract permission to transfer your JBX on your behalf. If you have V1 JBX, this step is required for migration.

Step 4: Grant permission for V2 tokens​

Click Grant permission for your V2 JBX and confirm the transaction in your browser wallet.

This transaction grants the V3 JBX contract permission to transfer your Juicebox V2 tokens on your behalf. If you have Juicebox V2 tokens, this step is required for migration.

Step 5: Approve migration and set spending cap​

This transaction approves the V3 JBX contract to spend your V1 JBX on your behalf. If you have V1 JBX, this step is required for migration.

Click Approve and in Metamask select Use Default. This will approve the spend of your total claimed V1 JBX balance.

Click Next to proceed and then Approve to confirm the transaction.

Step 6: Migrate all approved tokens​

Click Migrate all approved tokens and confirm the transaction in your browser wallet.

This transaction migrates all approved V1 JBX and unclaimed Juicebox V2 tokens to JBX V3.

Step 7: Success!​

Refresh the page and revisit the Tokens tab. Be sure to verify the following:

• Your balance: should be greater than zero
• Legacy balance: should be zero

That's it! If you have questions, please visit the Support channel in Juicebox Discord.

Author: matterturbulent
Date: (2022-12-04)

Synopsis​

E Pluribus Unum — Out of Many, One

15 Web3 groups (and counting) have come together to fundraise and bid on a private copy of the US Constitution going up for auction at Sotheby’s on December 13. This movement—called UnumDAO is the spiritual sequel to ConstitutionDAO, with many of the orgs being born from or inspired by the movement last year. We are utilizing the private multisig application Nucleo to obfuscate a portion of the donations to make our bid more competitive, and we plan to raise the remaining funds publicly on Juicebox. We’re prepared to show the world how far crypto has come in one year and to give our community and industry a positive signal. The goal is to start with the Constitution, and then continue acquiring important civic artifacts in order to create a “People’s Museum,” totally controlled by governance NFT holders, rotating to new locations, and educating the public about the history and innovations of democracy.

We are proud to partner with Juicebox given its status as the go-to decentralized platform for projects to raise funds in Web3. We are requesting a $150,000 USD grant from Juicebox at the initiation of the fundraise to seed it. Additionally, we want to use the holdFees flag⁽¹⁾ to enable us to refund donors in full should we lose the auction.

If bid fails then all funds become refundable, including the grant. All donors have the opportunity to reclaim funds within a 30 day window. After the 30 day window then remaining the funds get sent to the UnumDAO multisig for acquisition, curation, and care of other civic artifacts.

Motivation​

This proposal will cement the partnership between JuiceboxDAO and “ConstitutionDAO2,” while simultaneously kickstarting the fundraiser. We recognize that Juicebox plays an essential role in the ecosystem, championing the value of decentralization. Juicebox is an essential tooling in Web3 and unlocks the ability for regenerative projects to establish their governance communities. This proposal represents a middle ground between shutting off fees and leaving them as is.

Specification​

1. JuiceboxDAO to distribute $150k worth of ETH to the UnumDAO project fundraiser from the v1 JuiceboxDAO treasury in FC#37.
2. Utilization of the holdFees flag to enable full refund should UnumDAO lose the auction.
3. Vocal support from Juicebox as a partner in the movement.

Rationale​

Sotheby’s valued the Constitution copy at $20 - $30 million USD. If Juicebox fees are 2.5% and gives the project fundraiser a $150,000 grant then the fundraiser has to raise at least $6 million for Juicebox fees to exceed the initial $150,000 put in.

Risks​

If the fundraiser undershoots $6 million but still wins the Constitution in the auction then JuiceboxDAO will not receive more fees than the initial amount of the grant.

Timeline​

Within the next couple of days the fundraiser will go live and JuiceboxDAO should make the 150k donation upon initiation of the fundraiser. Should UnumDAO lose the auction we expect to do the refund based on the reasonable timeline for such activity. All donors have the opportunity to reclaim their funds within the 30 day window. Throughout the auction leading up to Dec 13 the coalition will advocate for Web3 to once again come together and buy a Constitution. Except this time we will win.

Note:

Hold fees:

By default, JBX membership fees are paid automatically when funds are distributed out of the ecosystem from a project's treasury. During funding cycles configured to hold fees, this fee amount is set aside instead of being immediately processed. Projects can get their held fees returned by adding the same amount of withdrawn funds back to their treasury. Otherwise, JuiceboxDAO or the project can process these held fees at any point to get JBX at the current rate.

This allows a project to withdraw funds and later add them back into their Juicebox treasury without incurring fees.

This applies to both distributions from the distribution limit and from the overflow allowance.

Defifa is an experimental pop-up NFT game that accompanies the 2022 FIFA World Cup. Minting started Nov 8th and will close before the first kickoff of the competition on November 21st. The game definitively ends on December 25th—7 days after the final whistle of the competition—at which point all treasury funds will be made available to those that wish to redeem their NFTs.

There are 3 novel ideas worth calling attention to that make Defifa possible:

NFT Distribution​

Over the past five months, engineering contributors at Juicebox DAO have been developing an NFT distribution mechanism that project owners can configure and attach to any of their funding cycles. With this NFT extension attached, inbound payments have the opportunity to mint a token from an ERC-721 contract if certain conditions are met. This 721 can contain any number of payment tiers, which can define their own visual and descriptive metadata, minimum contribution thresholds, max supply, a ratio of tokens to reserve for a pre-programmed beneficiary, voting weights, and other properties to ensure confidence for both the project owner and community.

Defifa uses this system to define 32 tiers corresponding to the 32 teams competing at the World Cup. All tiers are contained within the same NFT collection. Each tier has no max supply and requires a contribution of 0.022 ETH into the Defifa treasury. All contributions to this treasury qualify and must specify the desired teams from which to mint. Clients can specify if the payment’s value must be used in full towards mints — if the payment is not quantified in 0.022 ETH increments, it will revert.

Project ownership​

Project owners have the exclusive ability to configure a project’s future funding cycles. Most Juicebox projects created thus far have been owned by a person or a multisig. The Defifa project is instead owned by a contract that automates the queuing of four hard-coded funding cycles which define the game’s four phases. Funding cycles are sequential and each is bound by timestamps defined at the game’s instantiation.

The first funding cycle is the mint phase:

• Payments into the treasury are accepted and team NFTs are minted as described above.
• Redemptions are honored for a full refund of the mint price.
• Reserved tokens cannot be minted during this phase.

The second funding cycle starts at the exact time of the FIFA World Cup’s first kickoff:

• Payments are paused to prevent any future mints.
• Redemptions are paused to prevent access to the treasury’s funds.
• Reserved tokens can now be minted for each tier such that 1 of every 10 tokens belong to the Defifa Ballkids who developed the game and encourage fluid gameplay.

The third funding cycle starts at the kickoff time of the tournament’s quarterfinals:

• Transfers for all NFTs from all teams are locked and become temporarily soulbound.
• All other rules are the same from funding cycle #2.

The fourth funding cycle starts seven days after the final match is played:

• Transfers for all NFTs are unlocked.
• Payments remain paused to guarantee no new mints.
• Redemptions are reopened so that NFTs can be burned to reclaim an underlying share of the treasury. More on this in the Scorecards section below.
• This phase lasts forever.

Each phase must be queued before the current phase ends. This transaction can be sent by any player.

Artwork by gabobena.eth

Scorecards​

The game is entirely self-refereed, meaning that it does not rely on on-chain oracles to convey real world outcomes. Instead, NFT holders are solely responsible for attesting to the correct scorecard that represents what happened in real life. A “correct” scorecard is determined only by social consensus.

This version of the game justifies correctness as follows:

• There are 100,000 total points to be distributed. 20,000 points are available to each of five rounds of the FIFA tournament, divided evenly between the winner of each game in the round.

• There are 48 group stage games total, 8 round-of-16 games, 4 quarterfinal, 2 semifinal, and 1 final. This means that each group stage game is worth 416 points, each round of 16 game worth 2,500, each quarter final worth 5,000, each semi final worth 10,000, leaving the final with the remaining 20,032. The correct scorecard should represent the amount of accumulated points by each team divided by the total available 100,000 points.

• Each team has 1 vote, divided evenly between all of its NFT holders. Scorecards can be submitted by anyone at any time and voting opens during the World Cup final. During phase 4, a scorecard can be ratified once 50% of all teams have agreed on the correct treasury distribution. Once ratified, each NFT has access to the treasury along the same distribution as the scorecard. Each individual NFT can be redeemed to reclaim a proportional share of the team’s value. This is the only way to access the game’s treasury.

• Funding cycle 4 lasts forever, meaning an NFT can be redeemed (burned) at any time for its underlying ETH. It can also be collected and traded forever.

Defifa is an experiment and will work as long as it has been configured correctly, however players should participate at their own risk. The code is open source and players are encouraged to fork the framework to run similar experiments for subsequent tournament-style competitions. Boa sorte!

Artwork by Sage Kellyn

Defifa.net upends how we think about NFT trading​

The Juicebox protocol has its eyes set on the FIFA World Cup this year. A new project called Defifa is set to launch on November 5th, and will allow players to purchase NFT flags of any of the 32 World Cup teams set to play this year.

(example of the Argentina flag NFT)

Where it gets it exciting is when the World Cup starts. From the first kick-off, all NFTs become non redeemable. The treasury that has amassed all the ETH for the NFTs will become locked, as well. As each phase of the World Cup takes place, the NFTs claim on the treasury will change proportional to their finalist ranking. Midway through the World Cup, the NFTs will also become non-transferable, meaning holders will be locked into waiting for the outcome of the games. At the end of the competition, all participants must ratify a scorecard to attest to the accurate results of the World Cup, at which point the NFTs will be come unlocked and can make their claim on the treasury. So if you purchased an NFT of a team that ended up winning, redeeming that NFT at the end of the World Cup could give you back more than you paid for it. For a short video breakdown, check out this explainer on twitter.

A protocol more flexible than an olympic gymnast​

The entire defifa.net is run on the very same protocol that ran ConstitutionDAO last year, and that is currently home to a variety of projects including, including MoonDAO and JuiceboxDAO. But for Defifa, there were some important tweaks.

The protocol has no idea who will win or lose in the world cup, and who will get knocked out. While one obvious solution is to appeal to an off-chain oracle, a much more interesting one was to have the NFT holders participate themselves. When a new game has happened, anybody can submit a scorecard which NFT holders must then vote on to ratify. Doing this allows the protocol to run more purely, but it also introduces some interesting dynamics.

A game of chance or cooperation?​

Anybody working on defifa will tell you that this is a grand experiment, the outcome of which can’t be predicted. In theory, the game should run smoothly— NFTs are minted, held, participants vote and at the end the NFTs can be redeemed against the treasury with their new (adjusted by the game’s outcomes) value. But what if that doesn’t happen?

What if some people refuse to vote, or vote in bad faith? Or what if so many people purchase the NFT of a favored team, that the claim on the treasury between all those holders is actually quite small? Statistically speaking, what is the expected value of purchasing a highly favored versus a long-shot team, and when does it make sense to trade your NFT and when doesn’t it? The beauty is that nobody knows, and those that play will all find out in real-time.

Where to learn more?​

Head over to defifa.net to learn some of the details of each game phase and to see the NFTs offered. To hear a short podcast episode with the defifa.net creator, jango, head on over to spotify. And if you’d just like to hang out and say hi, come to the Juicebox discord and feel free to ask any questions there.

On Tuesday, May 3rd (Wednesday May 4th local Chinese time), some Juicebox members (including jango, Zeugh, peri, filipv and your favorite author, to name just a few) engaged in an open discord call with Chinese-speaking JB community members and contributors. This article recaps some of the main points discussed. Also a huge shout-out to Zhape for his excellent on-the-fly translations!

Translation needs​

The translation efforts are coming back underway as JB has overhauled its documents over the past few weeks. One area of concern was in how to best achieve accurate translations that can be written engagingly. The need for accurate translators, particularly who are comfortable working from English to Chinese, was underscored by Zhape. If you are comfortable translating into Chinese fluently and would like to contribute to translation efforts, reach out to Zotico in the #translation channel.

Guerilla Marketing Campaign and Community Building​

Zeugh gave a brief highlight of some intended efforts at marketing and community building. Currently, there have been discussions to send some Juicebox contributors to Crypto or NFT conferences where they can network and spread the word about Juicebox. Possible eventual speaking opportunities at conferences, or sponsorships of conferences, are also being discussed, but at the moment the goal is to start small and see if we can spread the word about Juicebox and make meaningful connections between communities, or create opportunities for people to open projects on the Juicebox platform.

Translating outreach/community content​

One area discussed was the importance of trying to make it a priority to translate into Chinese blog posts, interviews, or other materials that will help bridge the gap between our Chinese-speaking and English-speaking communities. For instance, an article such as this one that simply updates the community at large on a recent discord call, or an article that announces major changes coming with V2, would be excellent opportunities to inform our Chinese-speaking readers and to open the opportunity to gain feedback from them.

The state of V2​

jango gave some insights on how the V2 protocol is coming along. Front-end of the protocol is still under development and coming along nicely, and in the mean time fine-tuning measures in the back-end continue to ensure a smooth rollout. The V2 protocol will allow many creative opportunities to build extensions, and offer more tools to project creation. So far early reception has been very good.

Tokenomics strategies​

The question of how tokens should be disbursed, traded and valued also came up. The goal of ensuring that a project received the best rate of JBX per ETH is being discussed and worked on. Practically, this would mean that if a better JBX rate existed from an AMM, a project creator would receive that rate JBX at the AMM exchange rate. While JBX currently has low liquidity, one line of thinking is that such a system, which would necessarily drive traffic to such AMM’s, would serve as a mechanism to build those liquidity pools. Importantly, the impetus for such a process starting will likely come as Juicebox incentivizes these opportunities.

Voting equity​

Another core topic of discussion was around voting equity in the current DAO governance. The question centered around how to strike a balance between early contributing members, such as jango, who have very large sums of JBX and thus have tremendous voting power, and members who may be contributing heavily but are newer, and thus have far lower voting power. This is a catch-22, but it is important to note that this imbalance is certainly aware to early contributors such as peri, jango and others. In the case of per and jango, they do not engage in voting for this reason (both were quick to point out). One solution is to continue issuing JBX, which will give more voting power to more individuals, but this also flies squarely against certain opinions to completely stop JBX issuance. It is a complex situation that has a lot of moving parts, and is inextricably linked to the JBX issuance/AMM situation mentioned above. Ultimately the thinking is that with these new changes, solutions may present themselves and we will see growth and directions in these domains.

Main Takeaways​

This call provided important information and helped streamline communication between the English-speaking and Chinese-speaking Juicebox member communities. The nature of questions remained substantive throughout and finding a cadence to have such calls seems like a good strategy moving forward. A huge thank-you to our members, both English- and Chinese-speakers, for taking the time to hop on this call and for having such open and transparent discussions. And again a huge thank-you to Zhape, who translated and managed the discussion and kept a good flow going!

If you held JBX before 2022-02-23 and have not done so already, claim your JBX!

We've seen some super interesting results from the Juicebox Benefits Airdrop which launched last month. ARCx has worked with us to collate and summarise some preliminary findings from the airdrop. Results below!

Definitions​

To fully comprehend the findings, it helps to quickly define the terminology used in our analysis.

Most of these findings centralise around a concept called the "Retention Rate". The retention rate is defined as the lowest JBX balance for an address after the airdrop. To better understand this, let's use an example:

0x123 claims 100 JBX tokens from the airdrop. They then go on to sell 30 of their tokens immediately after claiming. This address then waits a week, and buys back the originally sold 30 tokens. In this scenario 0x123 would have a retention rate of 70%, even after buying back the tokens, as it is the greatest amount of tokens sold after the claim.

This logic ensures that per address the retention rate can only go down over time.

The second concept to understand is the "Average Retention Rate". Many of these graphs aggregate the retention rates across all claimers in the airdrop. The average retention rate is defined as the average of all the retention rates for all addresses whom have claimed already. So, again using an example, if 10 addresses claimed the airdrop each day, then the average retention rate on day 1 would only consider the first 10 address and not any of the addresses who claimed on day 2, day 3, etc.

Findings​

The first graph shows retention rates 28 days after several major airdrops. The Juicebox Benefits Airdrop had unprecedented levels of hodling!

The next graph also shows retention rates, but instead shows them over time. After a brief selloff, retention was remarkably stable.

Next, we consider this same retention rate over time broken down across the 3 different score chorts (see JBP-114). Interestingly, the cohort with scores between 53-200 had the second highest retention rate, beating out the 201-300 cohort by ~15% at times.

Finally, we looked at how quickly each cohort claimed their JBX. Interestingly, the 53-200 tier fared better than the 201-300 tier in this metric as well.

Thank you to everybody who helped make this airdrop happen. More information and analysis will be coming soon!