The first and only decentralized circus run entirely optimistically, brought to you by veteran Ethereum developers and 🤡 alike!
At its birth, CircusDAO is a coordinated building operation specialized in churning out DeFi products native to one of the best L2 technologies Ethereum has seen to date… Optimistic Ethereum!
Barnaby believed in Ethereum from day 1, before the mainnet was a thing, lived through its history as it unfolded every day, and stuck around long enough to know that it, and it alone, remains the only platform with a roadmap, that when fully achieved, will deliver a truly global blockchain made up of 3 highly secure (Beacon), available (Shards) and scalable (Rollups) modular layers.
Accordingly, Barnaby saw in Optimism the team most able to deliver the best optimistic rollup technology that is sure to be one of the biggest execution-layer pillars of the ecosystem, by the time Ethereum 2.0 achieves its final form.
Barnaby, already knowing too well DeFi on Ethereum and other L1s, took a good look at the state of DeFi on Optimistic Ethereum and he rejoiced because many building blocks were missing, including primitive ones! He looked at Uniswap V3 and deemed it unfit to serve the needs of contracts owning their liquidity, so he ordered his laziest clowns to ship a V2 AMM… and thus Juggler was born!
Well, there is not much to be said about Juggler, except that it’s your typical Uniswap V2-style AMM and is well ready to serve OΞ contracts and users alike:
By now, Barnaby had far-reaching plans and he soon came up with what could be called the Main Show of his DAO: a decentralized reserve currency and store of value that could enable the DAO governance itself and would be fueled by the revenues of past and future products!
However, to accomplish this, I will tell you that Barnaby didn’t fork OlympusDAO, he personally forked OlympusDAO V2 and made it his own. Three tokens revolve around the protocol: Golden Tickets (🎟️) to access it, Balloons (🎈) to benefit from it, Cotton Candy (☁️🍭) to govern it and govern the DAO as well.
Well, there will be enough to be said about CircusDAO and its Main Show, and much of it will be written in an another announcement post
For now, it suffices to say that a Crowdsale (and Airdrop) event, spanning 20+ days, will take place somewhen in January, just in time to be first in the upcoming L2 year!
The purpose of the upcoming crowdsale is to bootstrap the treasury as well as fairly launch the protocol by allowing for the fixed-but-increasing-price purchase and early minting of the Golden Tickets token, which will be required to stake in his main 🎪
Staking can be expected to follow in early February, and bonds shortly afterwards, so save up your worthless DAI!
Attractions: Barnaby and his smartest clowns have been experimenting with a novel concept of yield-aggregation, involving a new kind of auto-compounding vaults (called Attractions indeed).
Top secret matters of Barnaby inner circle. Nothing more can be said at this time.
For all of the reasons covered below, CircusDAO will be governed by multisigs, timelocks and vote-signaling from the community, as deemed appropriate, and in any case until the governance contracts will not be ready and audited, and the community will not have shown convincing proof to be able to conduct and govern itself as a DAO.
CircusDAO was founded by Bob Barnaby (or Barnaby Bob, or Barnaby), with the help of an anonymous dev team of DeFi veterans, with a shared vision and values, unanimous in their appreciation for Ethereum technologies, sporting a good eye for the many oppurtunities still to be found in such revolutionary systems.
Barnaby, acting as a Governor, is committed to make sure CircusDAO grows healthy and can successfully take on its role as part of the future of finance by embracing openness, transparency, meritocracy, partnership and equal access, in alignment with the values of the underlying platforms that allowed us to build our dApps on.
Having said this, given the varied nature and relative complexity differentials in the DAO offerings, they concluded that their beloved @0xCircus could not be born a DAO; rather, they would provide a path for it to become one.
The truth is that shipping these products, in a flawless fashion, requires deep expertise and technical abilities, significant commitments of energies and time, and a certain stamina to keep going over the long term.
While most of our contracts are immutable in nature, (that’s how Barnaby likes them anyways), not all of them can be, and even some of those that are still require some form of maintenance.
Maintaining said products requires these same commitments, just in lesser amounts; as such, we cannot expect nor ask that a sizable share of our users and holders would be ready to uphold all this from day 1.
Furthermore, as we grow and expand quickly in the first few months, we might risk not surviving the early days while being hamstrung by slow-moving DAOish procedures.