Skip to main content

December 2024

tl;dr​

  • New Year Goals
  • First audit results soon, starting second audit in January
  • On track to launch in March
  • What’s next after launch? Vaults, think Fuse from Rari
  • Sponsoring EthDenver
  • Website Refresh launching soon

New Year Goals​

Last years goal was to get the contracts complete and get to market. We underestimated the work we had left, or overestimated ourselves, but we got close in that the we were able to start audits in November, and are on track for a March 2025 launch.

With the new year, I have been doing a lot of thinking about the goals moving forward now that the primary goal of launching is starting to come to fruition. With that at top of mind, we have been working on outlining our goals for 2025. Here are the rough goals for 2025

  • $100 Million of TVL
  • $700k earned protocol fees
  • 10 Partnerships with recognizable brands or sizable liquidity providers
  • Release Vaults to simplify UX and resolve fragmented liquidity (Similar to Fuse Vaults from Rari Capital)
  • $2 Million raised to sustain operations until we can transition to using protocol fees

Development​

Our first audit will be wrapping up this month. We additionally have been working through the final touches on liquidation logic as the audit has progressed. Additionally, we have been working on updating our peripheral contracts and front end to work with the latest interface of the core contracts.

Front end Development​

With the contracts mostly complete, more effort has been going into wrapping up the pending work we need to get done to launch a Beta App and start launching across various test networks.

Planing Vaults​

Our protocol will have similar issues to Rari Capital in that liquidity for one token will be split across multiple different token pairs. Thus it makes sense to layer a vault system on top of the core pairs to help simplify UX for depositing single assets without needing to fight with the brain damage of what pair to deploy too.

In addition to single asset vaults, we will also be rolling out market making vaults that will capture value by leveraging our technical understanding of how our protocol can be arbitraged with other DEX’s. In addition to capturing value, they will help to ensure borrowed liquidity

Marketing & Go to Market​

Hiring/Team:​

  • Hired Content and Design Manager (Tim worked with previously at Ankr and Oasys)
  • Posted/Interviewed for Community Builder role
    • 232 applications, 48 considered, 26 interviewed, 3 finalists, 2 offers made, 2 offers accepted
    • +28 Community members; +12 testnet users

GTM:​

  • ETH Denver sponsorship planning
  • Ambassador program kickoff
  • Website refresh

Community & Collabs:​

  • 3 Discord events
  • 4 KOL mentions
  • AMA w/Stumble Guys
  • AMA w/Creator Nexus
  • AMA w/Monad

Note: Marketing/Growth KPIs will be included in subsequent updates

Marketing Retro: Second Half, 2024:​

  • Lead team transition
  • Reconfigured marketing, community, and growth functions
  • Launched content and design sprint framework
  • Established clear budget allocation, tracking, and management
  • Developed marketing, community, and growth goals
  • Clarified expectations and set monthly targets with collab manager
  • Identify key hires and launched hiring process
  • Strengthened key partnerships with chain/ecosystems (Monad, etc.)
  • Attended Token2049 and DevCon
    • Support Ammalgam/Redacted event
    • Identify protocol partnerships and cultivate KOLs
    • Lead DeFi UX/UI workshop
    • Attend Monad Madness (Bangkok cohort)
    • Capture ideas for ETH Denver sponsorship and booth
  • Launched website refresh project