tl;dr: Gyroscope is now the largest Snapshot.org space; the first governance proposal,GGWP-1, has been passed by 99.8% voters with an amazing turnout of 6.9k voters; Wave 2 of Level 3 will start soon; Level 4, the ‘endboss’, will arrive within November

With level 3, players got introduced to the governance process and participated in the first governance proposal with a vote of confidence. GGWP-1 has been passed by 99.8% with an amazing .

As a consequence, Gyroscope has become the largest Snapshot.org space with 5.92k members, currently exceeding ENS (5.36k), Sushi (5.15k), and Gitcoin (5k).

At one point the Gyroscope space hit the limit of Snapshot’s Kovan node, leading to some temporary issues that were quickly resolved thanks to the amazing Snapshot team.

The Gyroscope testnet is continuing to break records (and stress-testing DeFi infrastructure) as it goes. The current count of unique addresses participating in the various levels is as follows:

With GGWP-1 passed, the proposal will be implemented shortly on-chain. This will involve forming the DAO multisig, launching the Gyroscope token contract, and transferring the community share and upgrade rights to the multisig contract.

Next testnet levels are actively being developed and will be launched within this month. In the meantime, Wave 2 of Level 3 will open soon to allow newcomers to join the Gyroscope DAO. Of course, it is also open to everybody who simply missed Wave 1.

Mainnet development is also progressing well, and you can expect big announcements soon. Several exciting new AMM designs for S-AMMs and vaults are in implementation mode now. Vaults may be launched in a phased strategy leading up to the full system launch.

• Participate in the new community forum: gov.gyro.finance in addition to Discord

• Join the discussion on Sybil protection

• Follow on Twitter @GyroStable to stay tuned on Level 4

• Watch the recent Epicenter podcast featuring Gyroscope!