To all Defibox community members:

DefiboxDAO is the first ecological project DAO organization born in the EOS community. It has been two sessions since its launch in November 2021. It is the most important organization to realize the Decentralized Governance of Defibox.

During the 6-month tenure (August 2022 to January 2023) of the 2nd DAO Board, BOX has experienced many challenges, received lots of support, and also achieved great achievements. The following is a summary report by the Board to the Defibox community on important matters during its tenure.

1. About DefiboxDAO

DefiboxDAO was officially launched on November 17, 2021. The landmark content is the completion of the implementation of the DefiboxDAO charter and the election of the first DAO board. This is a major governance strategy improvement that can enhance the voice and sense of belonging of each community member. The LuckyBOX launched in January 2022 has greatly increased community voting participation.

Major community affairs are directly decided by BOX token holders through a referendum. Important and urgent projects are jointly decided by the team and the DAO board. Community observers supervise the decision-making process of the board throughout the process. DAO makes the global governance of Defibox more transparent, efficient, and decentralized.

2. Monthly important events and contributions of community members

During the last six months, the development of BOX encountered many obstacles and issues, but the project team continued to innovate and overcome difficulties. Unremitting efforts have been made in many aspects, such as protocol revenue growth, new protocol development, original protocol optimization, economic parameter optimization, community governance reform, various activities organization, the voice promotion in the EOS community, etc. Members of the current board also actively participate in the discussion and decision-making of major issues, and the important opinions of observers and community members are also incorporated into decision.

A brief summary of the monthly important events and the contributions of community members are as follow：

In August 2022, the 2nd anniversary celebration of BOX and the election of the 2nd DAO board were completed. The 1st Dao Board meeting was held, included board members getting to know each other, putting forward ideas on the development of BOX, listening to team reports, etc.

In October, the 2nd board meeting was held to discuss Yield+ income distribution plan, and initiated DIP47 proposal was passed by community referendum. The massive burning becomed a turning point for BOX value. In the same month, the team released a video introduction about DIP47; Eason and Denis participated in the Yield+ online seminar; Dalio published an article explaining the spiral rise of BOX value.

In December, the Vault-USDT launched, supporting Binance’s integration of USDT on EOS network. In the same month, the community actively promoted the financing activities of Vault on Pomelo, and finally became the project with the highest estimated matching funds among 138 projects. Board member Maxim represented BOX at the Pomelo Pitch.

In September, the Board mainly discussed the possible significant impact of Yield+, and the team actively prepared for it’s official launch. In the same month, Board Secretary Dalio published an analysis article on great value of Yield+ bringing to EOS and BOX.

In November, Vault (Vault.defi) protocol was officially launched. Board agreed to use community asset supporting audit fee. The team organized an EOS lock-up activity, and the maximum locked-up amount of the agreement exceeded 9 million EOS. The DAO board multi-signature of 5 community asset accounts was completed, realized further decentralized management, which was more secure and transparent.

In January 2023, the Defibox became the top 21 BPs, and the official announcement showed that the decision-making and governance rights of the nodes will be handed over to DefiboxDAO. In the same month, the board discussed the problem of dealing with the bad debts of the Lending protocol.

During the tenure of the 2nd DAO Board, the board members and secretary have fulfilled the responsibilities stated in the DAO charter, among of them:

• Board member HuangHe, as one of the earliest volunteers in the Defibox Chinese community, is enthusiastic about the daily maintenance, assistance and promotion of the Defibox Chinese community, collects community voices and feeds back to the board for discussion and research.
• Board member Denis Carriere, as the CTO of EOS Nation, has provided a lot of valuable opinions and technical support for Defibox's products, and has made positive contributions and suggestions to the development of BOX in many aspects.
• Board member Maxim Cincinnatis, as a YouTube crypto anchor and a member of Eden, has done a lot of active promotion for Defibox in the English community.
• Board member Glue Dog, as one of the most active members of the EOS community and the BOX community, also has his own EOS project. He organizes and promotes BOX in the EOS English community almost every day, and puts forward substantive suggestions in the board many times.
• DAO secretary Dalio, completed the meeting organization and discussion, took the lead in perfecting the proposal and writing the report, and put forward various substantive suggestions on finance and management for many times; and actively participated in volunteer activities, article writing, BOX value promotion and other work many times.
• Observers CarrotKing, 사랑이, koi, and Hongchen Wang, also put forward optimization suggestions or actively promoted BOX in the community.

The above content cannot fully list all the important events of BOX and the contributions of all BOX community members in the past six months. We would like to express our gratitude to all community members who have contributed to the development of BOX! Defibox is great and better because of the contribution by each of you!