[Report] NxM DAO Monthly Report - June 2022

Monthly Report - June 2022

June was was not a usual month for NxM, we had no music sponsored through NxM Event or NxM Project Grant. Rather We focussed on Community activation and Self sustainable solutions for the DAO. it was quite a new directions we are looking to evolve NxM. Further adding to the Topic of Decentralisation, NxM had Added all the Community members to the NxM Astro DAO

NxM DAO Management

The Social Media Team continued to do an excellent job promoting NxM initiatives across the various channels and engaging the community.

Click here for the DAO Management Report April 2022


We have not issued bounties for Jun.

NxM Resources

· NxM Events Grant Application

· NxM Projects Grant Application

NxM Stores:

· NxM Mintbase Store

· Open NxM Store

Events & Project Overall Status:

We requested $3500 for Experimentation of DeFi for NxM DAO for Self Sustainable Solutions, Rather we only utilized $500 USD for the Experiment, This was due to drastic drrop in the price of Near Value ,we had to pay the artist from May Months work from the june budget, Which caused the Treasury to tumble. In order to Maintain safe threshold Value in the Treasury we had to only Utilize small fund for the DeFI Experimentation

Also, Speaking of Experimentation we are gaining a Good Movement Towards the DeFI for Self Susatainable. as per the Metrics given out from the previous Month Detailed Upto Date Report is given Below

We have Earned almost 25USD last month out of 500.

Moving We will Invest a small Amount to the DeFi from the Treasury.

Defi Report

Adjusted proposal for July to be for $500, and submitted to AstroDAO for payout voting on 6/22.

Received seed phrases to NxM wallet from Pawel Crans on 6/22

Swapped 500 USDT for 150.12 wNEAR
Swapped 75.06 wNEAR for 2631.759 Pembrock
Put 2631.759 PEM and 74.978 wNEAR into PEM-wNEAR LP for 0.070039 shares
Put 0.070039 shares into PEM-wNEAR farm (all steps taken 6/22)

Estimated ROI is ~$1.634 in USN per day

Farm closed 6/30, funds withdrawn 7/1

Swapped 72.8347 wNEAR for 243.767 USN

Placed 243.767 USN & 2717.2812 PEM into liquidity pool and subsequent farm (7/1)
.051162 shares total.

Current rewards as of 7/6 = 24.81 USN

Thank you

cc. @bonepolice @rhymetaylor @williamx @Paul