July Development Updates

Roughly speaking Common Wealth is deploying updates and fixes twice as fast as last month — having shipped 6 releases in July so far.

$WLTH Fund (FKA Community Fund)

• Launched last week, Wed 18th July.
• The staking leaderboard will be published at the same time highlighting the Top 50 Stakers who are eligible to propose projects for investment by the fund.
• Initially, there will be one investment proposal put to the community per month.
• You can read more about the $WLTH Fund here.
• We will also add the ‘find my place on leaderboard’ function to the staking leaderboards this week too.
• On-chain automated deployment of smart contracts and on-chain voting are being worked on now.

Funds Update

• Automating project onboarding & proposals.
• This week’s project proposal vote will be on Snapshot same as the previous ones.
• Moving from Snapshot voting to voting in app forums, with on-chain voting is coming soon. Voting in the app will work same as Snapshot — token-gated to Slice holders and the size of Slice denoting voting power within the fund — and the votes recorded on-chain.
• We will soon update the Slice NFT’s media to reflect & ownership of the fund dynamically (not just in metadata).
• Fund payouts happening this week.
• For the first Priceless Funds projects to vest and be sold, Nibiru and Common Wealth are being made available for claiming this week — and every Friday going forward.
• Project tokens are sold as they vest based on the agreements with the projects.
• Team are various researching algorithmic trading strategies for increased automation.
• Will share a calendar of the vesting projects as well as token quantities & prices sold over the next couple of weeks; these will be displayed in the app in time on each project’s page.
• Next step (not scheduled yet) will be to re-design the project details page itself to showcase the project’s tokens returned 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.

Community Moderators Workshop

• We had a second meeting with the community moderators last week to share plans and discuss issues.
• Community Moderation policy is being fleshed out currently and will be used in conjunction with the forums tools.
• These meetings with the mods now happen regularly and will be scheduled monthly going forwards.

WORKING ON NOW

Evolving from Beta to v1.0

Shipped Recently

• Accelerated vesting updates in Portfolio.
• Updates and bug fixes in Discourse forums.
• The sub-menu in Community was removed.
• ‘Treasury’ link in Community moved to hamburger menu on navbar.
• ‘Categories’ visible now at all levels in forums.
• Several minor Treasury & Portfolio upgrades.
• Caching & performance optimisations — Some great progress made in last 3 weeks including a fix for the blank page/caching issue.
• Blank page caching issue: is believed to be largely fixed, but there are some lingering cases still to be resolved.
• Cloudflare: configuration improvement made for 99.4% of global users.
• Initial download size ~9 MB down from 16+.
• Automated media optimisations reduced some file sizes 250%.
• Eliminated redundant API calls by 33–60%.
• Still to fix some minor to medium-security fixes that may also improve response times.

Internal NFT Marketplace

• UI design v2 underway.
• Implementation started this week after a brief delay by other work. The Beta test may be delayed 1–2 weeks but still due in August.

Tokenomics for Rewards programs, Reputation system

• Community Mods rewards program & Beta Testing rewards program.
• Staking for participation / governance is currently being designed; we are completing necessary design work on the related systems including reputation ( karma & kudos sub-systems), proportionate rewards based on participation.

New Funds

• Perpetual fund type development underway.
• Several new fund types being considered for development and release over the coming months. 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.
• On-chain deployment and governance for $WLTH Fund in development.
• We will also be updating Slice media to reflect & ownership of the fund dynamically (not just in metadata).

Priceless Fund Projects Vesting Schedules

As promised, here are the known vesting schedulesfor the projects — as well as a report on their token sales to date; this will go into the app in a future update.

IN THE BACKGROUND

Merch store

• We have started work on the merch store; this will be a decentralised storefront offering merchandise from the project for sale.
• Community members will be able to offer their own merchandise for sale via the storefront, paying a small commission to the protocol.
• To ensure quality and relevance, community submissions to the store will be curated by the community via public votes.

Chainlink Automation Integration

• Buyback and burn & liquidity pool provision mechanics are being worked on next.

Next smart contract audit

• Planning has started for the 3rd smart contract audit; this will take place sometime in mid-September.

MISCELLANEOUS UPDATES

On hold for now:

• External NFT marketplace/RWAs, etc. On hold, for now, pending internal marketplace review.
• Promote rewards program re-launch.
• Bug bounty program.
• Telegram app.
• Coinbase smart contract wallet — Launched on Base mainnet on June 5th; considering when and how we can best integrate it.

Known Issues

• Apart from the caching and performance issues referenced earlier we have some issues yet to be scheduled.
• 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 the 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.
• Project Details page update to show token sales (mentioned earlier in this update).

As we say, nothing changes if nothing changes…

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