Maxos update 13 August — Mutual and Presail
We will start posting weekly updates. Here’s progress from the last week.
Our flagship decentralized bank is now “Maxos Mutual”. Learn more from the Maxos Mutual white paper v0.2.
- We started testing the core bank with the two simplest investment strategies. This opens slots for additional strategies.
- We are testing a MaxBanker token for deployment this week. It includes Compound governance hooks. It includes pluggable transfer control, which we can use for non-transferrable team distributions, non-US presales, or fully decentralized distribution. The tokens will be controlled by our Gnosis safe, where we can mint them with a signer list enforcing early stage DAO governance.
Please apply for some tokens to get started, and contact me with your input. I am especially interested in deals that might fit the unique structure of a “presail”.
We will work on this until we get good dynamics. In 2018, I started to get questions from VCs about what a “tokenized” venture fund would look like, and whether they could tap that as a fundraising channel. The initial answer was “no, a securitized LP fund doesn’t work.” The private LP fund structure has been highly optimized over the past 60 years for its particular environment. A “tokenized” startup funding system will have a different structure that fits an open-access global environment. I have made a series of proposals in articles like Innovating in Venture Capital. Presail starts the implementation with an open-access version of single, syndicated deals.
- We made massive progress on the front end, with the deployment of a Web site, token-gated Discord, token, and membership application. The app developers stabilized the UI in our testnet deployment. Next week will add bonus features to match the new white paper.
- This is a “social token” project. The members are going to be more important for our journey than the initial product features. The journey is going to require community building skills that people like the members of Seed Club have pioneered. We are looking for someone from the social token movement to LEAD this project and recruit great members.