⇠ back to transparency
Ava's State of the DAO 2024
Last Updated: 2024-12-31
Welcome to our 2nd State of the DAO annual report.
This year marked a decisive shift — from building foundational infrastructure to launching revenue-generating products and establishing Ava's DAO as an independent brand in the broader crypto landscape.
4 / 5
Top Nexa Tokens Are Ours
5
Platforms Scheduled for Deprecation
Treasury Overview
The DAO treasury remained fully on-chain and publicly auditable throughout 2024.
A strategic pivot late in the year redirected resources away from Nexa-branded services toward independent product lines (WiserSwap, Minado), reflected in the outflow profile below.
| Asset |
Opening Balance (Jan 1) |
Inflows |
Outflows |
Closing Balance (Dec 31) |
| NEXA |
38,440,000 |
+74,200,000 |
-61,890,000 |
50,750,000 |
| AVAS |
437,850,000 |
+0 |
-83,600,000 |
354,250,000 |
| NXL |
0 |
+100,000,000 |
-14,500,000 |
85,500,000 |
All values denominated in native token units. AVAS outflows reflect staking reward distributions and contributor vesting.
NXL was minted at WiserSwap launch in January 2024 as an exchange loyalty incentive.
Full on-chain records are publicly verifiable via NexaShell explorer.
Expenditure Breakdown
| Category |
NEXA Spent |
% of Total |
| WiserSwap Development & Liquidity Seeding |
18,200,000 |
29.4% |
| CashFusion Privacy Module |
9,400,000 |
15.2% |
| Nxy Social + Token Mining (Minado) |
12,600,000 |
20.4% |
| Infrastructure & Hosting |
10,100,000 |
16.3% |
| Community Grants & Bounties |
5,800,000 |
9.4% |
| Brand Migration & Marketing |
3,790,000 |
6.1% |
| Operational Reserve |
2,000,000 |
3.2% |
| Total |
61,890,000 |
100% |
What We've Accomplished
2024 was the year Ava's DAO transitioned from ecosystem builder to product company.
We shipped Nexa's first DEX, deployed production-grade privacy tooling, and launched a novel proof-of-engagement mining platform — all while beginning a strategic consolidation of our brand portfolio.
-
WiserSwap —
In early January, we released Nexa's 1st decentralized exchange (DEX) and introduced Nexa Exchange Loyalty ($NXL) tokens.
-
CashFusion (Privacy) —
Brought trustless CoinJoin-style privacy to Nexa, enabling users to break on-chain transaction linkability without relying on any centralized coordinator. The protocol completed three independent audits and processed over 420,000 NEXA in fused outputs by year-end.
-
Nxy Social + Token Mining —
Launched as Minado, a proof-of-engagement token mining platform where users earn mineable tokens by creating, curating, and sharing content. Over 3,100 unique miners participated in the first six months, generating 8.7M NXY tokens.
WiserSwap
In early January, we released Nexa's 1st decentralized exchange (DEX) and introduced Nexa Exchange Loyalty ($NXL) tokens.
By the numbers:
• 142,000+ total swaps executed on-chain
• 26 unique trading pairs listed by year-end
• 4.8M NEXA in cumulative trading volume
• 14,500,000 NXL distributed as loyalty rewards to LPs and traders
• Zero exploits or loss-of-funds incidents
• Average swap settlement time: ~12 seconds (1 block confirmation)
💡 Revenue milestone:
WiserSwap became the DAO's first revenue-generating product, collecting 0.3% swap fees that flow directly to the on-chain treasury.
In 2024, total fee revenue reached approximately 14,400 NEXA — modest, but proving the model works.
CashFusion (Privacy)
Trustless CoinJoin-style privacy for Nexa. CashFusion enables multiple participants to collaboratively construct a single transaction that breaks the deterministic link between inputs and outputs — without any party (including the coordinator) being able to steal or freeze funds.
Key milestones:
• Q1 2024 — Protocol design finalized; adapted from the Bitcoin Cash CashFusion spec to Nexa's UTXO model.
• Q2 2024 — First public fusion round executed with 8 participants on mainnet.
• Q3 2024 — Three independent security audits completed (2 community-funded, 1 DAO-funded). Zero critical findings.
• Q4 2024 — Integrated into NEXA.js SDK; 420,000+ NEXA fused across 1,200+ rounds. Average round size: 6.4 participants.
Nxy Social + Token Mining
Launched publicly in Q2 as Minado, the platform pioneered proof-of-engagement mining — a mechanism where content creation, curation, and community participation generate mineable NXY tokens on Nexa's L1 chain.
Adoption stats (as of Dec 31, 2024):
• 3,100+ unique miners
• 8.7M NXY tokens mined and claimed
• 11,400+ posts published on-platform
• Average daily active users (Q4): 187
• Content categories: Technical tutorials, Nexa ecosystem news, meme contests, governance discussions
Community & Governance
As the DAO matured, governance participation deepened and community engagement expanded significantly.
The strategic pivot decision in Q4 was itself ratified through an on-chain vote — demonstrating that even consequential directional changes are community-driven.
22
Proposals Submitted
18 passed · 3 rejected · 1 withdrawn
84%
Avg. Voter Participation
Up from 78% in 2023
1,340
Discord Members
Up from 489 in 2023 (+174%)
Our Vision
We currently sit as the leading project creator within the Nexa ecosystem.
Our community projects have been wildly successful.
Currently 4 out of the TOP5 Nexa tokens are Ava’s DAO community tokens.
source: https://explorer.nexa.org/tokens (as of 2025-01-01)
What this means:
Ava's DAO tokens represent the most actively held and traded assets on the entire Nexa blockchain.
This dominance validates the DAO's strategy of building real utility-backed tokens (AVAS for governance/staking, NXL for exchange loyalty, NXY for content mining, STUDIO for developer tooling) rather than speculative issuances.
How We See The Future...
Our team is currently preparing for Nexa’s 1st protocol upgrade, set for activation on March 15th, 2025 — which will introduce:
- Increased VM script limits
- Read-only UTXOs
- Script machine registers
With the introduction of these key technologies, our team will immediately begin Version 2 deployments from our suite of NexScript contracts.
🔧 What the upgrade unlocks for Ava's DAO:
Increased VM script limits — Enables more complex swap logic in WiserSwap v2, including multi-hop routing and partial fills within a single transaction.
Read-only UTXOs — Allows contracts to reference external state (e.g., price oracles, DAO governance votes) without consuming the referenced UTXO. This is foundational for building on-chain AMM price feeds.
Script machine registers — Provides persistent local variables within script execution, dramatically reducing bytecode size for our NexScript contracts and enabling gas-efficient loops for batch operations (airdrops, multi-recipient payouts).
Platform Deprecations
In line with our recent pivot (at the end of 2024) towards focusing on development of our OWN brand and identity; we will continue deprecating most (but NOT all) of our NEXA-branded services in 2025:
- NEXA.exchange
- NEXA.garden
- NEXA.sh
- NEXA.studio
- NexaSwap.com
In 2025, our focus will be on expanding monetizing opportunities with our “independent” brands — namely our decentralized exchange WiserSwap and our token mining platform Minado.
Asset migration plans are currently being prepared for both $NXL and $STUDIO.
Announcements will be made in the upcoming months.
| Deprecated Platform |
Successor |
Migration Status |
Target Sunset Date |
| NEXA.exchange |
WiserSwap |
Liquidity migrated |
Q1 2025 |
| NEXA.garden |
Causes Cash |
In progress |
Q2 2025 |
| NEXA.sh |
Internal tooling |
In progress |
Q2 2025 |
| NEXA.studio |
Minado dev tools |
Planning |
Q3 2025 |
| NexaSwap.com |
WiserSwap |
Redirect live |
Q1 2025 |
2025 Roadmap & Budget Forecast
With the brand consolidation underway and Nexa's protocol upgrade on the horizon, 2025 is poised to be the year Ava's DAO scales its revenue-generating products.
Key Initiatives
| Initiative |
Description |
Target |
| WiserSwap v2 |
Multi-hop routing, limit orders, and on-chain price oracles — leveraging the March 2025 protocol upgrade |
Q2 2025 |
| Minado v2 |
Creator monetization tools, tipping, and premium content gating via NXY staking |
Q3 2025 |
| NexScript v2 Contracts |
Complete rewrite of all DAO smart contracts to use read-only UTXOs and script registers |
Q2 2025 |
| $NXL + $STUDIO Migration |
Token contract upgrades and holder snapshot-based migration to new contract addresses |
Q1–Q2 2025 |
| Stakehouse Airdrops Preparation |
Infrastructure for post-halvening airdrop distribution (halvening est. June 2026) |
Q4 2025 |
Budget Forecast
| Category |
Projected NEXA |
% of Budget |
| WiserSwap v2 Development |
18,000,000 |
25.7% |
| Minado v2 + NXY Ecosystem |
14,000,000 |
20.0% |
| NexScript v2 Contract Rewrites |
10,000,000 |
14.3% |
| Infrastructure & Hosting |
8,000,000 |
11.4% |
| Token Migration (NXL + STUDIO) |
4,000,000 |
5.7% |
| Community Grants & Bounties |
7,000,000 |
10.0% |
| Marketing & Brand Launch |
5,000,000 |
7.1% |
| Operational Reserve |
4,000,000 |
5.7% |
| Total Projected |
70,000,000 |
100% |
⚠ Note on runway:
With a closing NEXA treasury of 50.75M and projected 2025 expenses of 70M NEXA, the DAO will rely on continued inflows from WiserSwap trading fees, staking emissions, and community contributions to maintain a healthy runway.
The budget assumes approximately 20M NEXA in organic fee revenue for the year.
All projections are subject to community governance approval each quarter.
Year-over-Year Comparison
| Metric |
2023 |
2024 |
Change |
| Products Shipped |
6 |
3 |
Focus shift to depth |
| AVAS Holders |
1,247 |
2,860 |
+129% |
| NEXA Treasury (Closing) |
38.4M |
50.8M |
+32% |
| Governance Proposals |
14 |
22 |
+57% |
| Voter Participation |
78% |
84% |
+6 pts |
| Discord Members |
489 |
1,340 |
+174% |
| Core Contributors |
12 |
16 |
+33% |
Closing Remarks
2024 was a year of maturation. We proved that a DAO can ship production-quality products, generate on-chain revenue, and make hard strategic pivots — all through transparent, community-governed processes.
The decision to sunset our Nexa-branded services was not taken lightly. But building an independent identity — anchored by WiserSwap and Minado — positions us for sustainable growth that doesn't depend on any single ecosystem's brand.
With Nexa's protocol upgrade arriving in March 2025, the next chapter writes itself: smarter contracts, faster products, and a DAO that leads by shipping.
Don't trust. Verify. Build. Ship.
This report was prepared by the Ava's DAO core team and ratified by community vote on December 31, 2024.
All financial figures are denominated in native token units and are verifiable on-chain.
For questions or corrections, reach out in our Discord or open an issue on GitHub.