$SARCO Community June 2023 Update

June Recap of What is Happening in the Sarcophagus World!!!

5 min readJul 7, 2023

The conclusion of June is a massive month for the project! This month has seen many things for the project closing as the transition to mainnet started on June 30th. The testnet for end users and node operators was largely successful in giving the project a ton of information to help refine the codebase, debug issues, and improve UI/UX. Many thanks to the testers who have come in and devoted time and resources to get the project to where it is now. In conjunction with the deployment of smart contracts and mainnet launch for the project, the SDK for Sarcophagus was also completed, helping the project add more flexibility in how it can be utilized and incorporated in both crypto projects as well as traditional web2 solutions for enhanced security and permissionless transfer of secret data. Lastly, the governance incentive program was launched to help support DAO governance and participation, by incentivizing voters with rewards generated from protocol fees. Overall a massive month with updates and celebrations from the team after over a year of hard work to put together a v2 that is flexible and responsive to the needs of any end user.

DAO Proposals for June

Vote #41: Funding the Testnet User Incentives for v2 (Passed)

Create a payment of 1,445,000 SARCO to be distributed to eligible testnet users from the DAO Treasury.

Vote#42: Replenish the Growth subDAO Wallet for Operations (Passed)

Create a payment of 250,000 SARCO to the Growth subDAO multisig wallet with the intention of 150,000 SARCO for incentives for core contributors and 100,000 SARCO for additional bounties and other growth-related activities.

Mainnet Launch

Following the conclusion of the testnet, mainnet is upon us. On June 30th, mainnet smart contracts for the protocol were deployed and the project is officially live on Ethereum mainnet. The launch of mainnet comes after a great testnet where the team learned a lot from the community and gained invaluable feedback to improve the protocol. The project team would like to give a huge thanks to Decent DAO for the partnership and for working together with Sarcophagus to get all the needs for development done. The Sarcophagus and Decent Teams all met together back in January of 2022 to lay the groundwork and foundation for v2 and now it’s finally come to fruition.

Closing of the Incentivized Testnet

With the launch of mainnet, the incentivized testnet is officially closed. To the testers who’ve met the incentive criteria and were awarded testnet rewards for participating, the rewards can be claimed for up to two years, after which any unclaimed rewards will be rolled back into the DAO treasury. So please be sure to claim your rewards before the two-year window closes. Again, many thanks to all the community members who stepped up, provided feedback, and helped push Sarcophagus to be in the best shape for mainnet.

Check out our testnet incentives tracker dashboard. Over 50% of the rewards have been claimed already. We will be planning to do a deeper dive into the testnet highlighting the work done by the community and team to get v2 where it is right now. The link to the dashboard can be found here:

https://dune.com/sliceanalytics/sarcophagus-testnet-insentive-claim-tracker

DAO Governance Incentives

As well as developing the dApp and contracts to be ready for mainnet, another item the team has been working on to coincide with the launch is the preparation for DAO governance incentives. This will help promote participation and decentralization of the decision-making for Sarcophagus DAO. The incentives are aimed at rewarding DAO voting participants with protocol fees accrued with the usage of the dApp. This means that as the dApp is increasingly used and generates more fees, they will be distributed at a pro-rata share proportional to the active voters staked tokens in governance. The voter will need to actively vote in DAO proposals and have their tokens staked in governance to be eligible. Be sure to follow for an announcement across official Sarcophagus social media with the details of when the governance incentives are officially kicked off.

Analytics Partnership with Slice Analytics

The Sarcophagus team is thrilled to announce a partnership with Slice Analytics to help boost understanding of protocol usage and make this data visible via Dune Dashboards. Slice has already made some very insightful Dune dashboards highlighting the Goerli testnet usage and is working to help come up with metrics and visualizations that will help with the decision-making behind Sarcophagus.

Follow the Sarcophagus Dashboards here: https://dune.com/sliceanalytics/sarcophagus-network

Community Numbers

We Need You!

As the project grows we are looking for people to help step up and contribute to the project via various means. Reach out with skills and/or previous work to anyone in the Discord marked with an Ambassador role to help get you lined up. We are especially looking at members who come from international communities to help support the growing influx of new users!