A quick update on $DOWN

$DOWN Debrief #6

Hello esteemed members of The Flock!! (because that's what I'm calling the collective community of $DOWN holders and newsletter subs)Bruce here, obviously, with a short update regarding the $DOWN social token.TOKEN REPLACEMENT As mentioned in the last issue of the newsletter, the token was originally made available on the Polygon network by bridging (or 'porting') via Chainport but is now mapped to the official Polygon network bridge. Due to the fact that it seems like bridges are a prime target for hackers to steal funds (though it's not really clear to me exactly why, or through what vulnerabilities these attacks happen) it's my belief that it's likely more secure to use the official network bridges whenever possible to move tokens between chains. To reduce transaction fees and reduce the number of steps required to replace any currently held $DOWN (via Chainport) with $DOWN (PoS) [the child-token received when bridging from L1 to Polygon via their official bridge], there is now a trading pair on DoDo dex which is configured to allow swapping the two tokens as if they were a pair like USDC/USDT; meaning that they should effectively retain a 1:1 peg regardless of the ratio in the liquidity pool's balance. If you have any trouble with exchanging the old token for the new one; feel free to contact me directly at [email protected].

EXPANSION Also mentioned in last week's newsletter was the intention to expand the token to the Optimism L2 network. The mapping is technically complete, but the token is not yet whitelisted and added to the Optimism token list. This simply means that for the moment, the bridge hosted on Optimism's main website will not allow you to bridge your tokens. But the v.1 bridge will accept $DOWN as a valid token for bridging. With that said, this is with the condition that you bridge the token FROM L1 Ethereum. If possible, I'll also set up a mapping for the $DOWN (PoS) token to be able to be bridged as well, removing the need to perform multiple transactions to move your tokens from Polygon to Optimism. At present, there isn't any active liquidity on Optimism, or any utility there for the token; so there isn't much reason to go through the effort of bridging from Polygon, to ETH, to OP; unless you're a hardcore OP maximalist and just want to have your tokens there. In the near future, LP rewards and other utilities will be activated on Optimism as well as Polygon; but at present, the mapping is really just preparation. In case you're feeling froggy and want to move tokens to Optimism anyway; this link will bring you to the gateway with the correct token mapping pre-loaded.

A BIT OF ALPHAI'll aim to include at least a bit of alpha in each issue of this newsletter, because that's what crypto newsletters do right? If you know me at all, you'll know I don't give a rat's ass about what's "trendy", so the included alpha will most likely be relevant to $DOWN or DappGoose Labs. ANYWAYIf you were holding $DOWN during the recently taken snapshot (which wasn't announced, as will be the case fairly often when related to surprise perks) your address is whitelisted to receive early access to an upcoming NFT drop I've been working on. Un-spiration is a collection of (i'm not done uploading everything and don't know the exact number) around 150-200 "Unspirational" NFT posters. No, it's not inspired by WAGDI or Goblintown; though it may seem that way. The idea actually came about, and work was started on the project, around June of 2021. But anyway *clears throat* The internet is full of "feel-good", 'motivational', 'WAGMI' content. We know that sometimes, someone trying to make you feel better just makes you feel worse. Un-spiration is a collection of de-motivational posters, pointless observations, and sometimes just plain nonsense. They're our way of being here for you when you don't want to feel better; or to bring you back down to earth when you've got your head in the clouds.

Unspiration goes live this Saturday on Optimism, an will be available to mint on https://brucethegoose.art/unspiration; but if you're whitelisted (based on the aforementioned snapshot) you'll be able to mint 1 FREE Unspiration NFT starting tomorrow. (but only 20 free mints are available!)

FINAL THOUGHTS

• The $DOWN DAO discord is now live, but isn't fully set up yet; and the actual DAO is yet to be deployed so for now there will be polls in the discord if/when community-dependent decisions are up for consideration.

• There's likely to be a lot of utilities/benefits that aren't announced until they go live, because $DOWN isn't a FOMO driven pump and dump token, it's a way for me to give back to the people that have supported me on my NFT journey so far, and in the future. (though I'm sure there'll be speculative holders who don't know that the token is intrinsically linked to a growing asset reserve)

• Soon(ish) there will be a token-gated site to buy exclusive NFTs with $DOWN, as well as to buy exclusive crypto-themed merch (like tshirts, hats, etc.) which to start will be USD payments, but soon after (once I figure out a way to automate the off-ramp so suppliers get paid in dollars for purchases with crypto) will also accept payments in stablecoins, $DOWN, and other cryptos

Got friends who are also degens? That's great! Soon there will be an automated referral system to earn $DOWN when you shill the token and people following your link swap other tokens for it!