Status Update GAO Week 5

Good morning all.

Last week was a bit busy. Atlas Co. launched faction selection and two new ships, and we managed to prove the viability of the StarAtlas.Exchange during the latter. New memberships were slow, but that allowed us time to work on our various backend projects. We also had office hours in the IA Discord last week and it went well, so we’ll do that again this Tuesday, 1PM EST.

First off this week I wanted to talk about dao governance. Earlier I was listening to Peter McCormack’s podcast titled The Failure of Ethereum Governance. Not to rehash the argument here, but there was mention of a Jo Freeman book called The Tyranny of Structurelessness, and it really got me thinking about the way SAIAdao is operating currently. I know there’s a lot riding on my shoulders right now, good or bad, and I wanted to be clear and on the record regarding a couple of points.

One: I will hand over control of dao assets as soon as we have (a) the proper infrastructure to do so in a trustless manner that also (b) allows us to earn yield on them. We obviously need to determine what our criteria is for that in discussion. For now it falls to me.

Two: any member has the ability to make a proposal on the DaoHaus at any point in time with regard to point number one or other matters.

I have been spending most of my time the last few months learning no less than a dozen different programming languages, libraries, tools, and frameworks: Rust, Typescript, React, Redis, Nginx Unit, AWS’s various platforms; Solana, Serum DEX, and now Metaplex web3 API libraries; not to mention all the various Linux, git, Yarn, Node, &c., &c… I’ve yet to write a single Sol smart contract though, I’ve been digging through the main Solana repos to understand out what’s currently out there and how we can use it effectively. It’s my full time job.

So that’s why I’m a bit wary about the minigame launch. I’m excited that we’ll have the opportunity to start earning yield on these assets that we own. The only question is how much time and effort will it add to my responsibilities. Rather, how much will it take away from the other things that I’m working on. From what I’ve heard, the gameplay loop will be pretty simple, and I hope that it’s as simple as keeping an eye on yield farms. Personally, I’m hoping we can get a ROI on everything we’ve purchased in the first three months, but I’m only basing that on my experience with DeFi launches. Wagner will probably take a slower approach.

Speaking of Wagner, he’s said on several occasions that the game already started, and it should be apparent that it has. We made the right move being the first dao to launch back in April, and I’m very proud of the exchange launch. There’s a lot more work to be done there, daily actually, but right now my priority is on figuring out scholarships. There’s a lot of money riding on this, obviously, and something that I intend to be focusing the majority of my efforts on from here on out. I don’t want to say more on that yet, but promise more next week.

Till then, I’m going to keep on grinding.


PF4: 5 @ $2525
FBLEGR: 3 @ $8282

Farms: No DCA this week due to last week’s miscalculation. I did harvest and compound our A/P ORCA pools, and claimed and staked our ORCA rewards.

The F4 and Greenader purchases will probably be our last until minigame launch. We want to maintain enough cash on hand to purchase a C11 ($80-100k) and we still don’t know whether it’ll be out before launch. We’re losing yield opportunities sitting on that, but for now we wait until we know more.


As of Today, Oct 11, 10:00 AM EST, DaoHaus shows 140 active members, 362,959 shares and 263,210 loot. We have one pending membership proposal with an additional 100 shares, 500 loot giving us a total of 626,769 claims, a 0.1% increase from last week.

We will continue the GAO r2 rate at this time.


  • Balances: $87,367.67 in tokens and open purchase orders
  • Yield Aggregation Vaults: $22335.67 in SolFarm, Orca ATLAS/POLIS/USDC/RAY pools.
    *NFTs: $255,113.17

For a total of 364816.51, up 3.2% from last week. I am noticing an increase in the number of illiquid assets on the board, by which I mean those without any recent orders on the marketplace. Several of the high rarity Rebirth posters and rewards, have been this way for weeks, but I’m seeing more of the access badges on that list as well as some of the FM gear drops from last month. We’re also using the average price of sales, so our TVL might differ from what the actual last sale price of the assets were.

This is the last week that I’m going to give exit value calculations using SHARES + LOOT. We’re not in DaoHaus anymore, and there seems to be a consensus among the econ team that only LOOT will be used when we actually launch. I’ll give both today and then stick to LOOT next week.

Estimated exit value for DaoHaus issuance is 0.582058956 (CASH + NFTs) / (SHARES + LOOT), a 3.1% increase over the week prior.

The estimated LOOT/TVL value is 1.388666248, up 2.4% from last week.


For new memberships, we’ll keep the rate the same we’ve had from last week. 1000 USDC = 500 LOOT, with 100 valueless SHARES as a bonus. I’ve have been questioned about paying $2 for an issue that’s only backed by $1.30-ish of value, and my response is that it’s a premium on future growth. It’s a bet on the future of both Star Atlas and the dao’s ability to deliver, and as I wrote in the intro, there shouldn’t be any doubts about things from my end. That said, I’m not in a rush to pump membership until we know more, we’ve got a lot to build out, and lots more questions to answer before we even know what we’re building.

Long live the IA!
BCM | SAIADao Launch Control

1 Like

Thanks your great effort and time for our Dao. For the governance issue you mentioned, one idea to have a management team to take care of Dao matters, and they can get paid by Polis/Atlas in our funds.

Personally I’d rather it be shares, but we’re having a big discussion about moving forward with valueless shares in the first place.

1 Like