Blend Status Update - May 25th

Blend continues to be on track to launch this week, pending completion of final regulatory and operational checklists at CoinList and at StakerDAO. Launching a product like Blend in a secure and compliant manner requires many disciplines, and we’re thrilled with the StakerDAO process that has gotten us to Blend launch. From the initial idea to structuring the basket to selecting validators, our community, council and operations team has worked well together to get here.

In addition to getting the technology and compliance processes to launch, we have also recently been expanding our awareness efforts. Jonas has been talking about StakerDAO and Blend at many conferences including DeFi Discussions, Ready Layer One, AnonSummit, Consensus, and coming up at Messari Mainnet. We’ve also added Graham Tonkin to the StakerDAO team as our head of business development. He is focused on outreach to interested parties, business development with exchanges, protocols, and projects, and tapping into our existing network. (Welcome Graham!)

The path forward for Blend following the start of the CoinList sale is integration by token holders into DeFi systems on Ethereum, trading across CeFi and DeFi platforms, and eventually, a swap mechanism into Tezos. Since the beginning of StakerDAO, we’ve had a good idea of where we’ve wanted to go, but the community input from STKR token holders has iterated and turned Blend into a great idea.

Where does the StakerDAO community focus after Blend?

This is a request for all current and future STKR token holders: The StakerDAO governance process starts with community generated ideas, and we are at a point where the community needs to decide what the next product offering should be.

Informally, we’ve heard interest in stablecoins, single token synthetics, different types of PoS baskets, and so on. Some advocates want to focus on building defi on Tezos. Others want to bring PoS synthetics to Ethereum. Others want to create cross PoS swap models, and yet others are looking at NFT offerings.

We think we’re at a critical juncture where we have to hone in on the next proposal, and we want the community to be heard loud and clear. Additionally, the community also has to keep in mind that any project will require capital and resources and we may need to sell additional STKR tokens to fund large concepts. It’s not likely we will all agree and have 100% confidence in our next product, but we need to iterate on ideas and move promising concepts forward.

So far, we’ve kicked off a discussion on stablecoins and NFT baskets. We’ll also make a post on a single token synthetic idea, but feel free to kick things off in your own post. One thing we think about is our advantage in centralized systems and ideas because we have the required frameworks in place and we also mitigate complex economic and technical risks.

Now is a great time to voice your perspectives of the future of DAO managed products. Let’s go!