Overview
Welcome to the third instalment of the GYSR monthly newsletter where we offer our community and the wider crypto-universe a brief overview on everything that is happening with GYSR. If you would like more information about our project or are interested in getting involved, please follow our official Twitter account, join our Discord, and take a look at our website.
Summary
Fast Facts
State of the Geysers
Welcoming Ben
Results of the Hunt
Profit Sharing
Contributor Program
AMAs
Integrations
Development Update
Fast Facts
Since the last newsletter in mid-January the $GYSR token has seen some serious price action. Our token hit CoinGecko’s Top Gainers list on three separate occasions - several days apart each time - and according to Uniswap analytics we had over 1 million USD in trading volume on six different days (see graphic below):
As with anything in crypto, we know part of this came from speculators, but we also feel strongly that GYSR is gaining some meaningful traction. One way we look at this is the number of Ethereum addresses actually holding the $GYSR token: at the time of writing, there are ~1450 holders, which is more than double the ~700 addresses we had in early January.
State of the Geysers:
Even with gas fees on Ethereum being as high as they are, there were four new Geysers that launched this month. This brings total deployments on the first version of our contracts to 68 Geysers since launch, which is a number we’re really happy with. As a way to highlight occasional projects that launch Geysers we also started a “spotlight” series on Medium this past month, and interested readers can find the first instalment covering Sensitrust and their liquidity mining program .
Welcoming Ben:
We’re excited to share that we’ve expanded our team again! We’re now up to a total of four people. Ben Roy has joined GYSR as Head of Growth and he will focus on business development, strategy, and communications. Ben's background includes working for two Members of Parliament in Canada as a legislative assistant as well as working in business development for an insurance brokerage and a company in the compliance space. He has followed crypto closely for years, is incredibly knowledgeable about DeFi, and is excited to help build a thriving GYSR ecosystem.
Results of the Hunt:
After several weeks of riddles, problem solving, and some great discussions on our Discord channel @SaArbitrage finished the Hunt. This community member won 5000 $GYSR and was the first person to learn about our new GYSR profit sharing system.
Profit Sharing:
One of the most consistent pieces of feedback we received in the first few months after our launch was that we needed to revamp our token mechanics. In response, we have introduced profit sharing where token holders can now stake their $GYSR and get exposure to the success of our platform by earning a portion of the multiplying bonuses across all Geysers. More information about the design and how to participate can be found here.
Contributor Program:
One of our core values as a project building on Ethereum is community. Now, that usually sounds like a vague concept, so we wanted to offer practical ways for people to get involved. What we came up with was a formal contributor program that outlines different ways our community can help us build GYSR into something we’re all proud of. Each different contribution (e.g. code ideas, UI suggestions, social media support, etc.) is rewarded with a meaningful amount of $GYSR. If you’re interested in helping out please take a look at the article linked to above and drop by our Discord to let us know how you’d like to contribute.
AMAs:
To stay in the loop with our community we have started to hold AMAs twice per month, every other Thursday. Our next AMA will take place this Thursday, February 18th at 6pm PST // 9pm EST in the GYSR Discord channel. We hope the first couple AMAs were helpful to the people who attended - we definitely received a lot of great feedback and appreciated everyone’s questions. If you have some time tomorrow evening, please feel free to come hang out with us.
Integrations:
We have slowly been working our way through integrating the $GYSR token with various projects. There are several integrations in the works, and this past month we are happy to report that we had our token whitelisted for Balancer’s $BAL rewards and also had $GYSR accepted into the TrustWallet asset repository, which is further relied upon by projects like Uniswap, Zerion, Aragon, and more.
Development Update:
Metadata:
Alex is currently working on the Geyser metadata contract. When he’s done, this will enable Geyser owners to define information about their particular Geyser in an entirely on-chain manner. Think logos, website links, social media handles, and so on. This means that a) projects will be able to brand their Geysers more effectively and b) potential investors will have an easier time learning about each project.
Discover Page:
The alpha discover page has been fully integrated into the webapp. This has been really well received by the community, and we have already collected some great feedback about what to change and tweak as part of the V2 webapp.
Dark Mode:
Speaking of the V2 webapp, development has come a long way on that front over the past month. We’re currently testing a dark mode for it. Iain has also been working on the Geyser management page, which you can see a sneak peak of below:
Core V2 contracts:
Over the past month we’ve made huge progress on the next set of our core contracts where Devin has been leading the way. We refactored everything to significantly reduce contract size, completed a large round of optimizations to reduce gas fees, and upgraded multiplier mechanics to be more adaptive and efficient. We implemented support for transfer fee tokens (like RFI) on both the staking and reward side. Finally, we built a GYSR spending fee system to support the introduction of profit sharing.
As always, before signing off we would like to say thank you to our community for sticking with us as we build a new version of GYSR and work to grow the ecosystem. We’re looking forward to an exciting next few months!
-the GYSR team
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