Feeder Finance Daily Update May 19, 2021

Website New Design

  • First draft sent back with comments. Early next week, at the latest, Live.
  • Dashboard will be worked on to match the new front-page colors and themes
  • The new design has already taken the products pages into account. Once the Vaults are done, design is ready for it.

New Mascot

  • We went with the low-poly styled Jaybird. It’s driven a lot by discussions we’ve had over the last couple of days. The dark blue color of the bird, the symbolic message, and the beauty, speak to us.
  • Designer already working on this and ETA expected early-mid next week
  • The direction of the artwork will be per the picture above

Publication on Medium: Read

  • We may need to discuss as a community whether it makes sense to add another pool.  It has been asked before.  Our response then was that it would reduce the liquidity of the main pool and that it should come later. The former remains true.  But the fact that the price is not reflective of FEED true value is also a point of concern for many.

Vault partnership discussion

  • We have followed up today. The last feedback was the 5% withdrawal fees making vaults unfeasible. We’ve gone back with a proposal to remove it during the vault’s lifetime.
  • They have yet to provide a reply. We’ll keep working on this.
  • At some point, it will start to become less relevant as we approach product launch and our marketing materials are ready. We will reach a point where we can start to go out to the market on our own and reach target audiences without a vault partnership. The funds will remain incredibly important for that effort.  Including a strong CEX listing which currently, for top tier, costs +$100K.

Vault of Vaults Product Development

  • We’re still on schedule to launch test net by 1st week of June.
  • Front-test for one week to make sure the mechanics function correctly and that the model performs as intended
  • The final two weeks before launch by end of June we may ask for a select member of the community that has some dev experience to help test and bounty hunt
  • Launch timeline remains end of June/start of July.

Community Points of Discussion

Withdrawal fees automatic buyback for distribution

  • We will always do what we feel is the fairest for the community given the availability of resources.  Currently, all of our development resources are placed on the development of our first vault product.  We will return to improving the way this works once we have the product ready per our timeline. Meeting timeline should always come first.  I believe this is agreeable by all.

Withdrawal fees reduction

  • We encourage discussion about this issue.  We also have a https://community.feeder.finance platform where the community can launch proposals and discuss in a separate space to stay focused.  We will respect the community’s decisions wherever it leads.
  • Having said that, any structural changes will have to come after the product launch for the same reason as the earlier point above.  This shouldn’t discourage discussions; please do and we’ll make sure all decisions are implemented as soon as we can.

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