Welcome to the 2nd edition of The Phonon Brief. Our aim with this newsletter is to keep the Phonon and the wider crypto community informed of the latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Phonon, follow our official Twitter and Medium accounts.
Summary
PhIP-01
PDBG Members Elected
Phonon Alpha Released
The Phonon Vision
Chain Analysis
PhIP-01 Overview
Last Friday Dec 31, PhIP-01 was published as an official proposal on the governance forum. Followed up with a snapshot vote to ratify this proposal. This Phonon Improvement Proposal (PhIP-01) suggests that the DAO allocate $4m worth of treasury PHONON equally to two liquidity pools, PHONON-FRAX and PHONON-ETH. Ondo Finance and Frax Finance will be helping with the other side of these two pools. Frax will provide $2m in FRAX stablecoins to create the first pair. The second pair will be funded by anyone in the crypto world who wants to receive 7% APY on their ETH deposits. Ondo vaults tend to fill up very quick so if you are interested act quickly!
This will create a total of $8m in initial liquidity for the PHONON token and as per Justin Bram from Ondo, if passed the pools should be ready by Monday, Jan 10.
Tomorrow, Jan 7th, the voting ends at 11:59 P.M. EST. As it stands the vote are unanimously in favor of this proposal with 364m votes for and 0 against.
To read the entire proposal head to the forum. To vote, here is the snapshot link.
Phonon DAO Bootstrapping Group
The PDBG, as explained in last week’s brief and in the PhIP-00 governance proposal, has found its initial members from this nomination post.
PDBG Member and Core Responsibility
davoice321 - Governance, Product Roadmap, Multi-Sig Community Rep
Dcc - Liquidity/Tokenomics, Product Roadmap
Justin Leroux - Governance, Product Roadmap
Dan M - Marketing, Liquidity/Tokenomics, Product Roadmap
Tim Coulter - Product Roadmap (Technical Liason), Liquidity/Tokenomics
Mickey - Marketing, Liquidity/Tokenomics
AndrewByrley.eth - Marketing, Governance
DeFi_Dad - Marketing, Liquidity/Tokenomics
Francesco - Governance
phononymous - Liquidity/Tokenomics
force_of_nature - Marketing Product Roadmap, Mult-Sig Community Rep
CryptoPeebo - Governance, Liquidity/Tokenomics
In order to ratify these 12 memeber PhIP-02 is live on snapshot, so cast your vote by 12 PM EST on Monday Jan 10.
To find out more about these members read through the comments on the bootstrapping group nomination post.
Phonon Alpha Release
On Jan 3, the Phonon Alpha Code was made open source. Dan Veenstra, Phonon core developer, released a blog post that you can get the full details on here.
“The phonon alpha consists of three parts, the phonon-network specification, the phonon-card applet, and the phonon-client. Together these provide the tools to provision and operate a Phonon applet running on a smart card, along with some key utilities for building applications to interact with Phonon cards.”
This is an exciting step towards bring the Phonon Protocol to the masses. If you know any developer friends who might be interested in building on top of Phonon, send them Dan’s blog post!
Nate and some community members have shared some additional information for running the alpha in the #developers discord channel.
Other News
PHONON has been listed on Coingecko and CoinMarketCap.
Dr. Karl Kreder release the first of a series of blog posts he is writing title, Phonon Protocol Vision. As the title says, Karl details his vision for the Phonon Protocol and where he sees it being implemented and used.
On Jan 6, Karl posted in the discord that there may be a way to make phonons divisible, which previously was not an option. This sparked some community speculation from user @phonongod, author of the daily blog Pheverdreams, about how it would potentially work. Core devs, Dan, Nate and Karl all chimed in with their thoughts on the possibility. Read the comments in the discord starting here.
There was a post in the Phonon Technical Forum asking for further explanation regarding some FAQs the community has had. Core dev, Dan (Deviator) had some thorough responses to many of the questions and plans to come back and add more context. For answers to some questions you may be having i recommend reading through this post and comments.
$PHONON Chain Analysis
Price: $0.01190831
Next week we should see some shake ups to the treasury accounts as the liquidity pools go live.
Contract address: 0x758b4684be769e92eefea93f60dda0181ea303ec
Max token supply: 10,000,000,000
Redeemer Address: 0xfdcc959b0aa82e288e4154cb1c770c6c4e958a91
Redeemed: 2,928,359,321 = 8,535,885,562 - 5,607,494,241 (as of Jan 4)
A ~40% increase from last week. The majority of this comes from ConsenSys redeeming their 600m tokens.
The founders have not redeemed their 600m yet.
(Active) Treasury Address 1: 0xd90b33936a40418271584aab190c4bbe7fb95e2b
Holdings:
PHONON - 732,057,218
(Vesting) Treasury Address 2: 0xbcfb07c16af74a1b1db7fea7fc9605d3f649500f
Holdings: 732,057,218 PHONON
Vesting is a four year linear vest.
Notable Addresses:
GridPlus Treasury: 0x1253385b0fc7e022df906aeec4a8270cdc8ea6f9
ConenSys Address: 0xeeaa36420519d85efab3b7120ac5afa5a5825bfb
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