Feeder Finance Daily Update June 18, 2021

TL;DR

  • Jimmy working on DApp
  • CertiK deployed contracts report pending
  • PeckShield vault audit started
  • Patrick working a couple of BD items in preparation for the launch – ie.: disclaimer, allocation formula spreadsheet clean-up, research for LP Feeder Vault
  • MemeContest is still going on guys! 

Core Updates

DApp

The DApp remains the focus for Jimmy as we wait for PeckShield to audit the code and come back with recommendations.

Timing:  Jimmy is aiming for the DApp to be complete by next week in case PeckShield comes back with any clinical comments that may require Jimmy to work on certain things on the product front; he’ll have the last week of June to do it.

Audits

CertiK report still pending; we followed up again today but haven’t heard back…we’ll keep pushing.

PeckShield started working on our contracts today.  We’ll keep you updated on the progress on this front.

Documentations & Launch Preparations

While Jimmy is focusing on the backend; Patrick has been working on the below to prepare for the upcoming launch and beyond:

  • Prepared disclaimers for the DApp.
  • Clean up and prepared the spreadsheet with the underlying allocation mechanisms and formulas so Jimmy can create programming automation for the process in the near future.
  • Working on diagrams of product mechanics underpinning the flow of capital from user deposit to withdrawal.
    • They’re straightforward if you’re an experienced DeFi user. However, when you have to explain to new DeFi investors how 1) single token goes into Vaults Feed, 2) it gets split up into smaller chunks, 3) those then goes to 3-5 other vaults, 4) then through there to another protocol, 5) gets staked, harvested, and compounded, 6) then comes back into the target vaults, 7) target vault rewards gets harvested and compounded , and finally withdrawn back into Vaults Feed to pay users; it’s quite a journey.  It will, however, also tell users why this is such a powerful product. 
    • We’ll need it to create the teaser for the product to explain it to the artists and producers as well.
  • Did some research for the LP Feeder Vault product, notice it’s not “LP Vaults Feed”. We’re leaning towards the product being more of an LP Aggregator rather than LP Vaults Aggregator.  The reason is that through extensive research and data analysis, we fell in love with what an LP Aggregator would become – not to mention the flexibility and agility.  We see a large gap in the LP vault space; particularly in BSC.  It’s still a diversified and de-risking product, aligned with our project positioning.  A powerful product that would allow us to offer low/medium/high diversified risk selections to users – that way Feeder Finance also attracts high risk-seekers with a diversified approach.

  

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