Dear Gnosis DAO community,
We’re excited to formally introduce Breadchain Cooperative and share our vision for building essential infrastructure for a post-capitalist Web3 ecosystem on Gnosis Chain. As you may know, Gnosis DAO is already a significant holder of BREAD tokens (200k BREAD), and we’re looking to deepen our integration with the Gnosis ecosystem so we thought we’d do a more official introduction since some of you here may not know about what we’re doing!
What is Breadchain?
Breadchain Cooperative is a collective federation of decentralized cooperative projects looking to advance a progressive vision for blockchain and its effect on society. We aim to do this by building and utilizing what we call solidarity primitives - development tools which help to forge solidarity between individuals and collectives.
The first solidarity primitive created by the Breadchain Cooperative is the BREAD community token created through the Bread Crowdstaking Application built on Gnosis Chain. Users give xDAI and receive BREAD at the same amount. The xDAI held in the contract is then converted to sDAI to generate a yield that is distributed based on a monthly vote.
The primary infrastructure being built at Breadchain is to ask ourselves what if progressives had their own community currency and credit union? Where would we decide to put resources towards to build a post-capitalist economy?
The yield to be distributed based on BREAD holders’ votes every 30 day voting cycle comes from the DAI Savings Rate on Gnosis Chain. BREAD holders’ voting power in each cycle is based on their average holdings over the course of the previous cycle.
Why Gnosis Chain?
We originally built our app on Polygon but in the start of this year we moved to Gnosis Chain. Our decision to build on Gnosis Chain was driven by a few key factors:
- Native sDAI integration, enabling sustainable yield generation for ecosystem funding
- Superior UX through a stablecoin-native cryptocurrency
- Potential integration with Gnosis Pay for real-world BREAD payments as well as Circles
- Alignment with Gnosis’s commitment to decentralization
- Shared interest in alternative economic experiments and models like Circles
Current Integrations & Future Plans
We’re already deeply integrated with the Gnosis ecosystem:
- Treasury management through Safe
- Trading of BREAD enabled on CoW Swap
- Future integration with Gnosis Pay and Circles
- Plans to create an LST for Gnosis validators supporting Breadchain
- Gnosis DAO holds BREAD in their treasury
- We have a proposal on 1Hive Gardens to add BREAD as a token they hold in their Gnosis Chain treasury
Vision for Gnosis DAO Collaboration
As Breadchain grows and brings more activity to Gnosis Chain, we envision Gnosis DAO becoming a cornerstone partner in our ecosystem. We’re open to exploring structured agreements where DAO participation could grow alongside our ecosystem’s development and contribution to the Gnosis Chain ecosystem.
As part of this we would love to have more organizations in the Gnosis ecosystem to become part of the Angel Minters program like Gnosis DAO already is. The TLDR is we would like to have more orgs and individuals hold larger amounts of BREAD and be a part of the cohort that Breadchain supporters will be exposed to more. Another forum post to focus on this program later!
What have we accomplished so far?
Here are some of the accomplishments we’ve had over the past year of building in relative stealth:
- Transitioned and deployed our Crowdstaking App from Polygon to Gnosis Chain (switch to sDAI yield)
- Breadchain Launch Event in Berlin (feat. endorsement from Vitalik)
- Reached over $380k in TVL
- Added new projects like Symbiota and Citizen Wallet
- BREAD integration in Citizen Wallet, Dandelion, and Giveth
- Completed over 4 successful voting cycles with no issues distributing over $20k to projects using a novel mechanism
- Sponsored 4 different alternative crypto events
- 2nd place in the Gnosis Pay track at the ETH London hackathon
- Received a 30k OP grant from Optimism Collective to build our app for OP builders
- Raised thousands for Eth Evacuations during ETH Berlin
- Updated and improved our original UI and branding
- Regular weekly community calls featuring guests from Gnosis Chain, Sensorica, Tech Workers Coalition, and more
- Mention in the books Blockchain Radicals, and Kevin Owocki’s Onchain Capital Allocation v2, Other Internet research on solidarity primitives, Coin Telegraph and several podcasts
You can read our roadmap in depth here.
Get Involved
If you’re interested in becoming an Angel Minter or learning more about Breadchain Cooperative:
- Share your thoughts and questions in this thread
- Join our Discord
- Bake some BREAD on our application and take part in our governance
- Join our discord server, follow on X
- Vote in the 1Hive Gardens to add BREAD as a token they hold in their Gnosis Chain treasury
We’re excited to build alongside the Gnosis community and contribute to the growth of both ecosystems.
Looking forward to your feedback and questions!
Best regards,
The Breadchain Cooperative Team