Hey Shroomies! How is it going?
It’s been a couple of weeks since we appeared in the DeFi scene and since then things in the ecosystem have been evolving rapidly. It’s crazy the speed at which things are moving. It’s super exciting to see this fast innovation. We have also been working hard behind the scenes!
Due to popular demand by community members we have decided that every week or two we will be posting a community update so you know what’s happening behind the scenes and what we are working on.
Let’s dive right in!
- Roadmap progress
- 2nd round of farming with new token rewards
- Governance is now up and running
- Introduction of bounties for community contributors
- Discord team is ready
Our branding and name haven’t been picked randomly. Since day 1 we had a clear purpose. We are building a decentralised ecosystem for in-game assets trading and minting. This includes NFTs (ERC-721, ERC-1155) and ERC-20 token standards.
The Shroom ecosystem will have several components, one of them being a DEX, but also other exciting innovations bridging Gaming and DeFi that we hope you will like. For now we want to keep some cards close to our chest though!
Work performed in the past week:
- UI concepts have been completed and the frontend work has started
- Ongoing evaluation of best options for NFT swapping smart contracts
- We polished the SHROOM use cases and devised new ones
- Completed several strategies for reaching product-market fit
- Acquisition of the domain where we will host the DEX (transfer took 9 days!)
- Initiated exploratory discussions with game developers
The next update in a few days will contain a full picture of the roadmap with much more details. Soon you will also know who will be eating the shrooms and which powers it will concede!
Second Round of Farming
The previous week the community decided to tackle inflation rate by cutting the minting of SHROOM tokens, leaving a fixed 60M max supply after a ~5.5M burn in 2 TXs. In order to restart liquidity in a sustainable manner the new round will have several phases and will mint a new ERC20 token which is complementary to SHROOM inside the ecosystem.
The community suggested minting NFTs with higher reward properties. These might come later when we start to integrate with games. Details are still being discussed and will be published in the next update, along with the tokenomics and use cases for the tokens.
Governance is up and Running
Shroom is a community-driven protocol and the development and governance processes are intended to be very collaborative. We believe it’s best to release the protocol in the wild with the community in full control. We expect to start pushing voting proposals once the roadmap is published.
Introduction of bounties for community contributors
In the coming days we will be introducing several community bounties in order to help spread the word and help push the project forward. These will be coordinated via discord and will include:
- Articles and write ups
- Meme contests
- Video promos
We are also looking for help with development, so if you are or know solidity devs who would like to work at the intersection of gaming and DeFi feel free to reach out.
The discord team has been improved and several community members offered to assist as mods. Come and join the discussion! We’ll try to answer all questions but it’s normal if we don’t have answers yet. This is a very early-stage project and most processes still need to be polished or put in place, so please bear with us!
That’s all for this week’s update. More exciting news very soon!
Until next time shroomies!
💬 Join Us!
- Join discussion in our Discord at https://discord.gg/eZcFahS
- Don’t miss any update by following our twitter at twitter.com/ShroomFinance
- Also checkout the memes on our Telegram at https://t.me/shroomfinance