Constitution Ratification, Discord Migration, Tiers Staking and ASCEND Research Initiative

4 min readJul 6, 2023

We are excited to announce significant developments within the Ascension Protocol ecosystem that will positively shape the future of our community and allow for a clearer vision for the Ascension DAO to succeed in web3 for the upcoming bull market.

Vote for Constitution Ratification

A vote was held within our community towards ratifying our constitution. This constitution will serve as a document that explains how the Ascension DAO is operated, lays the groundwork for future opportunities and the process for those decisions to be passed, and conveys all the needed knowledge to DAO members in order for the constituents to have the know-how to participate. The vote was to pass the constitution, determine whether we should open new tiers, and release move operations to discord. The vote passed unanimously. You can see the results of the vote here.

Move to Discord

We are excited to share that we are moving from Telegram to Discord. This move is for both our primary Ascension Protocol chat, as well as our token-gated DAO Channels. This transition will provide us with enhanced opportunities and capabilities to engage with our community members. If you hold a certain amount of tokens you will gain access to private channels based on your holdings, all you need to do is connect the wallet that you hold the $ASCEND token with to collabland and follow their instructions. Collabland has no access to your funds and it is completely safe! If you have any questions please feel free to ask in our discord and we will be sure to help you through the process.

Join us on Discord.

Tier Opening

We are introducing three different tiers, each granting access to specific token-gated chats. These tiers provide increasingly awesome benefits to our community members. The benefits will be discussed further in another medium article but the more you hold the more you are rewarded in terms of investment opportunities and the fruits of DAO investments. The tiers:

Ascend Alpha: 88,800 ASCEND to access.
Ascend Beta: 33,300 ASCEND to access.
Ascend Gamma: 8,880 ASCEND to access.

ASCEND Staking

We are pleased to announce that Ascend staking is ready and will soon go live. Staking rewards will be exclusively in ASCEND tokens. This decision stems from the recent unfortunate depreciation of several treasury assets which were originally planned as additional rewards.

There will be an additional vote to determine the amount to be allocated to staking from the treasury.

Move to ZKSync

We are still considering the possibility of adding ASCEND to ZKSync Era, however the bridge we were planning on using has been experiencing legal and technical issues, thus we continue searching for the best way to become a cross chain project.

ASCEND Research Initiative

1,000,000 ASCEND has been added to the treasury to pay out constituents of the DAO who bring forth the best research on Web3, Cryptocurrencies, and Blockchain projects that benefit its constituents.

This research can include investment opportunities, narratives, valuable information, tools, and more that can help the DAO gain a competitive edge in how and where we invest our funds.

One winner will be picked regularly based on activity and successes from the opportunities brought forth.

Anyone can contribute alpha to the research initiative, but reward caps will be significantly heightened for ASCEND Alpha, Beta and Gamma Holders.

Rewards structure (To be finalized)

Ascend Alpha: Rewards up to 88,800 ASCEND
Ascend Beta: Reward cap of 33,300 ASCEND
Ascend Gamma: Reward cap of 8,880 ASCEND
Under 8,880 ASCEND: Reward cap of 2,220 ASCEND

Please note that these reward amounts are subject to voting decisions. The DAO constituents will assess the value and significance of the research presented, and vote accordingly to ensure that the community member is both fairly rewarded and that the fund distributions are in the interests of the DAO.

Researchers can earn other tokens in the future from the treasury if the DAO votes as such. If the research presented is exemplary and the DAO makes significant profits from it, the treasury can pay out rewards in either ETH or the token itself.

A percentage of profits from Research Initiative activity will be used to market buy ASCEND for staking rewards and topping up the Research Initiative fund.

Finally, in the first month that the ASCEND Research Initiative is running, the best alpha provided will win membership to our ALPHA ASCEND DAO. That’s 88,800 ASCEND (nearly 3,600 USD in value) Tokens (Locked for 1 year)!

More articles will be launched in the near future with updates and information about our future endeavors and opportunities. Happy to continue to build and $ASCEND with all our holders. Thank you for all your support!