Feeder Finance Daily Update June 16, 2021

TL;DR

  • DApp look-and-feel released; Jimmy working on the coding
  • CertiK audit still in progress
  • Signed with PeckShield to audit the vault; not with CertiK
  • XT.com listing commenced

Some opening thoughts...

While I won’t comment on the price of FEED itself, I’d like to remind our community that the entire crypto market has been on a relatively rough correction over the past month. My personal opinion, which is for your entertainment only, is that it remains a typical crypto correction. During this correct, however, BNB fell close to 70% from highs; that’s BNB(!). At the moment, it’s still ~50% below the high made before the correction. Naturally, altcoins have a different risk/return profile when compared to BNB and the price volatility/movement reflects that.

Please be mindful of your investment strategy, volatility, and invested capital. Make sure that when investing in crypto, you understand what you are getting yourself into. Do your research and keep up to date with how the project is progressing. Investors with an investment principle and risk management that they follow religiously are typically winners long-term.  

Core Updates

DApp

Jimmy is working on the DApp at the moment, coding the backend before putting a shell on top. These are things like how APY are calculated and displayed, allocation breakdowns and so on.

We’ve shown you the look-and-feel of our DApp.  You can see it again below.  We hope you like it! 

Audits

CertiK confirmed they are still revising our audit report.  We asked for an ETA but haven’t yet heard back.

We’ve chosen to move forward with our vault smart-contract auditing with PeckShield rather than with CertiK. The reason is very honest and very simple: We can’t afford it.

PeckShield is a well-respected auditor with big-name audits in its portfolio. Its research and articles on previous exploits and hacks are among the most followed in our space. Its founder and our direct contact, Xuxian Jiang, is a former Chief Scientist at Qihoo 360 (a ~$10B software security company) and has over 18,000 citations from academic papers on Blockchain and software security topics.

We’re in good hands.

Business Development

XT.com Listing

We got listed on XT.com today. It will now be much more accessible for people with no experience in Blockchain to invest in the project. It would also be the start of a stablecoin alternative that, once the CEX pool grows large enough, helps with the BNB peg issue.

On-Going Activities

Meme Contest:  LINK

Don’t forget to participate in our meme competition! I’d like to remind everyone of our rules for the event:
1) Post your meme to the twitter competition thread
2) Tag @FeederFinance, $FEED, and #FeederFinanceMemeContest and your favorite DeFi personality
3) Most upvotes + retweets wins (No cheating! We’ll know )

Competition ends 28/06 @ 12am GMT+1