GM Haberdashers! 

Each week we’ll be starting with our weekly recap where we’ll be dropping updates on all the activities and work we’re doing behind-the-scenes. 

For the week of 1-7 July, here’s the TLDR: 

→ 1st Haberdashery Community call happened 🎩

→ Morpho proposal for increasing DeFi utility for DEGEN went live ✅ 

→ Treasury management for the Haberdashery DAO proposal moved to final discussions ➡️

→ 1st Haberdashery Community

Core topics covered for the 1st community call were:

- Quantifying the impact of the DAO on funded projects
- Streamlining periodic reports from projects to keep tabs on growth, impact & progress
- Discussing how to better communicate the DAO’s process, funding method and core value add to broader community

A crowdfunded DAO deploying funds to builders scaling the Base ecosystem 🤝
General updates: /degendao
Proposals: /haberdash-props
Voting: /haberdash-vote

New Proposal Update: Degen & Morpho Proposal

TLDR: Morpho Blue, a lending protocol, aims to increase DeFi utility for DEGEN by incentivizing degenUSDC deposits and depositing DEGEN in mDEGEN vaults. This proposal seeks to unlock more value and DeFi use cases for the DEGEN ecosystem.

Goal: Enhance the DeFi utility and use cases for DEGEN holders by:
- Incentivizing degenUSDC deposits to provide liquidity and earn rewards.
- Depositing DEGEN in mDEGEN vaults to earn yield and create a deep borrowing market.

Ask:
- degenUSDC vault deposit: 4M $DEGEN allocation over 3 months with a vault cap of $500k.
- mDEGEN vault deposit: 10M $DEGEN deposited in mDEGEN for 1 year, with the option to withdraw anytime.

Impact on Ecosystem Growth:
- Expands liquidity and DeFI integration of DEGEN across ecosystems.
- Increases utility, yield and attractiveness of DEGEN within the Base ecosystem.
- Exposes users to Morpho, a fast-growing permissionless lending market.
- Boosts community engagement and DEGEN earnings.

→ Morpho proposal for increasing DeFi utility for DEGEN went live 

- The proposal seeks to unlock additional DeFi utility and use cases for $DEGEN through (i) incentivizing degenUSDC deposits to provide liquidity and earn rewards and (ii) depositing DEGEN in mDEGEN vaults to earn yield and create a deep borrowing market. The full proposal can be found here:

→ Morpho proposal for increasing DeFi utility for DEGEN went live 

- The proposal seeks to unlock additional DeFi utility and use cases for $DEGEN through (i) incentivizing degenUSDC deposits to provide liquidity and earn rewards and (ii) depositing DEGEN in mDEGEN vaults to earn yield and create a deep borrowing market. The full proposal can be found here: https://warpcast.com/thehaberdashery/0x2e4d9a38