August Development Updates

Common Wealth

4 min readAug 23, 2024

SHIPPED THIS MONTH

NFT Marketplace

Development and testing complete.
The closed Beta test commenced on Tues 20th Aug for 7 days; feedback overwhelmingly positive so far.
Public release is expected sometime in September.

Funds update

Priceless Fund

Project vesting schedules & sales reports will be updated & released this week.
There are no changes to vesting schedules this month.
Slice NFT’s media will dynamically update to reflect % ownership of the fund (not just in metadata) — and unlike 99% of NFTs will be FULLY on-chain.

Alpha Fund

The next project investment vote has just completed.

WLTH Fund

The first 3–5 proposals are under discussion in the Top 50 Stakers forum.
A proposal to the community for an investment decision is coming soon.
Started into automating trading strategies and integration with CEX/DEX partners.

Next Up

Venture Fund #2 — Alpha Fund deployment is advancing and expected to complete in next 8 to 10 weeks. A new, larger venture fund will then open for participation.
Evergreen Fund — will launch simultaneously with the Marketplace. This perpetual fund-of-funds will take a 10% position in both the Priceless and Alpha Funds and any new funds that are set up, allowing any new users to get exposure to all previous CW funds easily.
Decentralised ETF Funds — not one, but two new liquid perpetual funds providing exposure to a broad range of assets for those new to crypto.
Perpetual fund-type development complete.
Several new fund types being developed. These new types will showcase the flexibility of the funds engine as well as offer additional opportunities for new and existing users of Common Wealth.

Community Meetup

Aug 17th — 19th saw the first-ever international community meet-up take place in Amsterdam. Ten members of the community, including moderators and team members, met up IRL for the weekend. Kudos to everyone who turned up, travelled, wrangled baby- and pet-sitters and juggled schedules to be able to make it. It was truly great fun to spend some time with an amazing group of people and awesome to put names to faces (and emojis).
If you are interested in attending or helping organise IRL meetups at any of the following events, please contact us. Proposed meetups below.
September — Token 2049 (Singapore).
October — SmartCon (Hong Kong).
November — DevCon (Bangkok).
February — European Meetup #2 (Bucharest).
August — European Meetup #3 (Edinburgh).

WORKING ON NOW

Evolving from Beta to v1.0

Governance

Token-gated forums for WLTH Fund top staples and all stakers released.
On-chain governance for funds in testing; to be deployed in next 10 days.
This week’s investment vote was be the first vote in the app forums with on-chain voting, marking another step in our evolution towards decentralisation — but is being held back from release pending further development.

Projects — up-coming improvements will focus on:

Automating project onboarding & proposals
Next step will be to re-design the public-facing project details page itself to showcase the project tokens harvested and sold
Proposed project details will be displayed in the app instead of the forums song with a prominent ‘vote now’ button and link to the forums for discussion

Rewards programs

We have started a gradual roll-out of the Rewards programs.

Program roll-outs

Beta Testing rewards program (underway)
Community Mods program (underway)
Onboarding program (Sept)
‘Promote’ rewards program re-launch (Q4)
Staking for participation / governance is underway. We are completing necessary design work on the related systems including reputation (karma & kudos sub-systems), proportionate rewards based on participation, mapping XP to WLTH to voting power, etc.
Tokenomics review for Rewards programs still TBC

Community Moderators workshop

The third community moderators meeting will take place in the next week or so. Community Moderation policy is being fleshed out currently and will be used in conjunction with the tools in the forums. Also under discussions will be managing support and scaling the community moderator program.

Chainlink integration

Automation — Buyback and burn & liquidity pool provision mechanics being worked on next.
CCIP — we are hoping to complete our initial integration ahead of SmartCon in October; watch this space.

Next smart contract audit

Planning has started for our 3rd smart contract audit; this will take place sometime in mid-Sept.

Merch store

We have started work on the merch store; this will be a decentralised store front offering merchandise from the project for sale.
Work here is on hold for now.

KNOWN ISSUES

Rewards page still showing out of date info after Free Fund promotion ended.
Managing your Slice post-investment in Portfolio needs some UX work to bring it up to spec with the rest of the UI.
Wallets section in treasury needs some maintenance and clean-up for usability.
Profile in navbar and Manage Wallets section needs an upgrade to showcase which wallet was used for each transaction on the platform.

As we say, nothing changes if nothing changes…