A DAO is nearing legal incorporation and aims to be the first fully operating on the Soroban network. They've completed the Safety Pool contract, which liquidates undercollateralized vaults to maintain protocol health, but face integration issues due to Soroban preview limitations. Next steps include refactoring contracts and developing the Staking Pool.
The DAO has completed significant paperwork in April and expects full legal approval soon, positioning it as the first legally incorporated DAO on the Soroban network and potentially the first fully running on Soroban mainnet. They've finished the Safety Pool contract, which uses protocol reserves to liquidate undercollateralized vaults, benefiting depositors through liquidation profits and keeping the protocol solvent. A blocker in integrating the Safety Pool with the Vaults contract arose due to Soroban preview limitations (linked GitHub issue), prompting refactoring of both contracts with a workaround to stay on track. With paperwork done, focus shifts to completing integrations, building the Protocol's token Staking Pool, and releasing detailed explanations. A newsletter subscription is promoted for updates.
