PhoenixDAO Development Update

Hi PhoenixDAO community,

It’s been a busy few months behind the scenes especially from a development standpoint as we’ve been running multiple projects in parallel - DAO, staking V.2 and enhanced Events marketplace among other works.

With true transparency at heart we wanted to bring an update specifically on the largely anticipated PhoenixDAO staking V.2 platform.

What hasn’t been shared until now is why things are taking slightly longer than anticipated, to say building crypto/blockchain products that fit within an overall ecosystem strategy is challenging would be an understatement and the core team aren’t immune to challenges, over the last couple of months as part of the planning and build of the V.2 backend it became apparent that the initial idea wasn’t going to be big enough, we want to see PhoenixDAO bring the best to the community and so a decision was made to scrap the initial approach for the farming feature and take an approach matching that of Pancake swaps farming, what’s this now means for you guys;

• Add liquidity directly in-app
• Variable APY up to 200%
• No lock in periods
• Daily earnings

What this means for PhoenixDAO is a slightly more calculated approach to farming, an approach which can be carefully refined over time to ensure a sustainable way to bring new contributors and reward existing ones handsomely. Working on a model which ensures the markets aren’t being flooded with unnecessary PHNX is paramount. V.2 will be launching very soon and with that looking to learn and evolve the platform based on user feedback and usage from day one.

As recently shared we’re now seeing some final tweaks being done to the UX/UI.

Be part of the core growth of PhoenixDAO with high rewards for participation! We’re all working towards the same goal!

Insider Insight

The new and improved Event marketplace is getting closer to launch, the team are working hard and closing in on having the ability to buy $PHNX using a debit/credit card. We see this as a solution to a huge barrier to entry, this along with the ability to switch between Ethereum or Polygon networks depending on preference will hopefully see usage growth much quicker. What this also means is that we’re also now moving into a phase where we will look to integrate new tokens and revenue generation from small fees.

Chances are PHNX users will get additional benefits of course!

The team sincerely appreciate all the community support and are extremely excited to see you all benefiting from yet another fantastic product from PhoenixDAO.