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If you’ve been following the development of DHK dao, you might already know that the DHK token recently migrated from the Cosmos ecosystem’s Juno chain to the Optimism chain (OP Mainnet) within the Ethereum ecosystem. Before reaping the benefits of Ethereum’s ecosystem, this move initially left DHK dao in a state of disarray. Thanks to the hard work of several volunteers, things are now starting to settle down.
In this article, I’ll share the recent progress (and hurdles) of DHK dao and explain five ways you can get involved. It’s time to roll up your sleeves and dive in.
Since moving to Ethereum, DHK dao’s assets are now stored in a Gnosis Safe multisig wallet, managed by three members: Derek, Super Shredder and Edward. Any transaction requires signatures from two of these guardians.
All on-chain records are publicly accessible, so you can check out the DHK dao multisig wallet at 0x81c5C4047F84C3842F9B7Ac841C96504517C7d8F, which currently holds over USDC 41,000, primarily earning interest through AAVE lending. Additionally, the reserve of DHK 6,916,501 is also stored there.
Don’t be fooled by the seemingly healthy balance — this accumulation is mainly due to administrative, financial, and governance processes stalling during the months-long transition to Ethereum. These funds are just waiting to be deployed in support of civil society.
It’s also worth noting that DHK dao’s previous main revenue source, the Cosmos ecosystem validator income, is precarious. July’s revenue hit a record low, and there’s a real possibility of it dwindling to zero in the future.
Given these circumstances, DHK dao is exploring other revenue streams, one of which is this very newsletter. Over the past year, the newsletter has generated 7,794 USDC after deducting 10% for editing expenses, all of which I’ve transferred to the multisig wallet.
How to Get Involved:
Option 1: Subscribe to the newsletter as a "Daoist" or upgrade to a higher tier like "Dao Master". 10% of the revenue covers editing costs, while the rest is fully allocated to DHK dao. Annual subscribers can also receive a autographed digital copy of either The Sociology of Blockchain: Reimagining Money, Media, and Democracy or Moneyverse: How Money Works in the Multiverse — your choice.
Option 2: While I often mention the The Sociology of Blockchain Chinese newsletter, it has actually been publicized as the official DHK dao newsletter, with ‘The Sociology of Blockchain’ now just a column within it. If you’re interested in contributing content to an audience of over 21,000 subscribers, feel free to leave a comment and pitch your ideas for new columns.
Another revenue stream DHK dao is exploring is micro-matching donations through platforms like Gitcoin and Giveth.
DHK dao has participated in five rounds of Gitcoin Grants, receiving 243 donations, which, combined with matching funds, have brought in a total of USD 965 worth of cryptocurrency.
On Giveth, another donation platform, DHK dao is still in the early stages and is currently applying for certification. Once approved, the dao will be eligible to participate in matching donation events.
These platforms, along with other public goods funding platforms, are managed by Swift Evo.
The original Discord and old Telegram groups are no longer in use. For daily communication, please switch to the new Telegram group at t.me/DHKdao.
Additionally, volunteers usually hold online meetings at the beginning of each month, and all members are welcome to join or review the meeting notes. The 7th meeting is scheduled for September 5, 2024 (Thursday) at 21:00 GMT +8, and will be held at meet.google.com/wip-mopt-cks, in Cantonese.
The Telegram group is managed by D and other volunteers, with meeting notes compiled by D. Announcements for the community are posted on Twitter @DHKdao, mainly managed by Vicky.
The weekly newsletter has moved to Paragraph as of April, with the Chinese version still being synchronized on Substack but without email distribution, while the English version, web3dom, is exclusively published on the new platform. All subscription details, both free and paid, have been fully migrated.
The new URL for the DHK dao newsletter is paragraph.xyz/@DHK, available in both Chinese and English. Paragraph offers many exciting web3 integrations, which I’ll introduce in a dedicated post soon.
How to Get Involved:
Join the new Telegram group, follow the Twitter account, subscribe to the newsletter and share it with family and friends.
The monthly DHK token airdrop, which was disrupted due to the blockchain migration, has been back on track for the past two months and is now running smoothly.
The new DHK smart contract address is 0xe85d2c93f7e26b99a46a8bb9350cbfb965fa4f82. Once you receive DHK, you can add this address using the "Add Custom Token" feature in your wallet to display and manage your DHK tokens.
Currently, DHK dao operates as a validator on seven chains: Cosmos Hub, Osmosis, Akash, Stargaze, Juno, Evmos, and Desmos. Users who stake any of these tokens with DHK dao are eligible to share in the monthly 100,000 DHK airdrop pool, distributed proportionally based on their contributions.
After receiving DHK, the ideal approach is to help others set up wallets or introduce DHK dao to other web3 users, gifting them a DHK token to invite them into the community.
Of course, you can also exchange DHK for USDC, ETH, or other cryptocurrencies via Uniswap if you prefer.
Whatever you choose to do, remember to keep at least one DHK as a symbol of your membership in DHK dao.
How to Get Involved:
Visit airdrop.dhk.org every month to register and claim your airdrop.
If you're an early participant holding DHK tokens from the Juno chain, don't worry — your old DHK tokens can be upgraded to the new version on a 1:1 basis.
It's recommended to upgrade as soon as possible to start enjoying the benefits of the new system.
How to Get Involved:
Visit migration.dhk.org, connect both your Keplr wallet and a wallet that supports the Ethereum ecosystem, burn your old DHK tokens, and after a short wait, you'll receive the same amount of the new DHK tokens.
p.s. I've lost count of how many times — probably at least ten—that friends have mistakenly thought I spend most of my time in Taiwan, or even that I've emigrated there. These are well-meaning friends, but it's clear they don't read my newsletter very closely. So I can safely vent here: You guys, have you completely misunderstood what's going on?
