Shroom Community Update #2

Hey Fam! We’ve had a hectic couple of weeks here in Shroom’s HQ! The project has grown insanely fast and we are excited about the days ahead. In this community update we make a recap of all the action we’ve had and what comes next.

Let’s dive right in!

Highlights

  • Roadmap progress
  • Minting keys and tokens burned
  • Dev funds locked and community funds setup
  • VC firms approaching us
  • New forum

Roadmap progress

We are on track to have the MVP of the DEX plus several farms for games up and running during Q4. Tasks performed this past week:

  • Performed additional design tasks for the DEX
  • Started exploring collaboration points with other well-known crypto projects that approached us
  • Ongoing front end implementation of the DEX
  • We fine-tuned incentives for the upcoming round of farming
  • Ongoing research of options for NFT swapping contracts

When GSWAP?

The article explaining the DEX should drop at some point mid-late next week. In a few days time. Get ready for a breath of fresh air entering the space!

When new round of farming sir?

Details should be available right after we cover the DEX and its token, also towards the end of the next week. The rewards will be self-explanatory once the moving parts of the DEX are explained.

Farmers helping us currently to bridge liquidity will have top rewards and priority for the upcoming game farms.

Minting keys and more tokens burned 🔥

Due to community demand we decided to burn the SHROOM minting keys. You can check the TX here, where we give up the control of the staking contract. No more SHROOM will be ever minted again. This along with the dev fund lock (explained below) completely mitigates the chances of dubious exits by the core team and shows that we are vested and in this for the long haul.

The minting keys burn also burned 2,381,359 SHROOM that in that address, reducing the supply even more!

Dev funds locked and community funds setup

During this past week we announced that we have decided to lock the 10M SHROOM tokens belonging to the deployer address, which is the address that the dev team used for farming. A big part of these funds will be moved under community control, while the rest will be vested during 1 year and moved into a reserve fund for the devs and project.

Community funds setup

We have been approached by many community members willing to help with design, development, and other tasks. In order to compensate for this help we will be allocating several millions of tokens to community bounties and initiatives that help propel the project forward.

The bounties will be granted in a locked state or with a vesting period to prevent market woes and affecting the price action. As usual the community will vote what’s the best approach!

VC firms approaching us 🥰

We are excited with the attention we are getting from some of the top VC firms in the industry and other institutional-grade companies who are reaching out with proposals. It is clear that we are working in the right direction and we are well positioned for the months ahead as NFTs take over the space in the coming couple of years.

We will keep the lines of communication open with these firms, trying to seek synergies and collaboration points, while always making clear that we want to remain a 100% community-led open protocol.

New forum

In the next 48h we will set up a discourse forum to streamline collaboration building the platform. As commented we received quite a bit of interest with many people willing to help with community initiatives and we need a central place for managing everything.

That’s all for this week’s update. More exciting news very soon with the next platform update!

Until next time shroomies!

Shroom Team

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DeFi protocol for NFT assets trading & minting.