Feeder Finance Mid-Week Update – Aug 18, 2021

TL;DR

  • Joined the Binance MVB III Program
  • A lot of progress was made on the V2.0 development 
  • Launched XVS and RABBIT Compound 
  • Product Updates for BUSD & USDT Auto Diversify and DOP 2Pool  
  • PancakeSwap Farm Auction
  • Changelog updated

Community Support

Core Business Updates

Binance Most Valuable Builder III Program

MVBIII Program Background

We’ve added Binance’s activity tracking function to our deployer address.  It’s a long-shot given our relatively early stage but we’ll participate regardless.  Post our V2.0 launch our activity levels are likely to increase, perhaps enough to get the attention of Binance and giving them direct access to monitoring our activity would be a smart move. 

Feeder Finance Platform V2.0 Development Progress

We’re working on multiple things at the same time; then piecing them together.

  • Design: We’re 90% there on the total design work.  As mentioned in our last update, the missing items are the existing pages and simply touching up of the general look and feel.  This is due end of the week and we’re pretty comfortable with this due date. 
  • Back-End: Most of the major APIs have been completed. We’ve completed 75% of the APIs so far and aim to finish the rest this week.
  • Front-End: We’ve completed most of the programming for the two new pages we’re adding, and are now working on the existing pages.  We’ve completed about 60-65% of the work that needs to be done here.
  • Products: Jimmy has already developed the contract for which new products will be based off.  We can likely start to ramp the those up next week in preparation for the launch.  

AutoStaking Compound Releases

We’ve completed two planned Compound vaults so far this week:

  • Rabbit Finance: XVS
  • Rabbit Finance:  RABBIT

These are the upcoming priorities:

AutoStaking: Compound

  • Rabbit Finnace: ADA
  • Rabbit Finnance: MDX 
  • Pancake Bunny: BUNNY 

Product Updates

USDT BUSD DOP 2Pool Compound Update

What changed:
1) Withdrawal fees set to zero (0%)
2) USDT and BUSD DOP 2Pool to be deprecated

Background: We’ll (likely) no longer support Dopple Finance platform. Two vaults are affected: USDT DOP 2Pool and BUSD DOP 2Pool. ~$4000 is currently on balance. Jimmy is working on a tag to make the deprecation clear.

USDT & BUSD Auto Diversify Update 

What changed: We’ve now allocated 100% to ACS for now. Based on the actual $ returns over the past couple of days, the Dopple APY has indeed been accurate. However our concern is how the removal of LP will be affected if Dolly were to be completely depleted. To make sure funds are SAFU we’ve decided to reallocate funds out of DOLLY target pool.

New Target: We’ve already identified an alternative target which could be added securely. Our thinking behind continuing to target Dopple is tilted towards dropping the platform entirely. We think their unannounced changes and other aspects of how the platform is managed could be a recurring feature and are not comfortable allocating our investors funds.

When? Either reallocating funds to Dopple’s new contract or to a new target will take at least three days. This is because we take incredible care in 1) writing internal test scenarios, 2) test the entire migration on a test net, and 3) deploying a new contract to test the migration on the main net before we actually perform any update on our existing live products. This is incredibly time consuming but necessary for the safety of our products and we will not skip these steps for the sake of speed. Our safety protocols are in place and we follow them strictly.

In light of this, we’ve decided to focus on completing our WIP on the v2.0 for this week. Once that is complete we’ll allocate time to updating the Auto Diversify BUSD and USDT products.

What do you need to do? Nothing! The great thing about our structured products is that you have to do nothing at all. We do the heavy lifting with our AutoDiversify targets to make sure your funds stay safe and diversified. Funds are still earning APY from the current allocation being swapped to 100% ACS. The update we’ll make once we’re ready to swap allocations to new target vaults will not require users to do anything at all, either!

Other Developments

PancakeSwap Farm Auction

The PCS Farm auction has ended! The minimum bid to get into top 5 is 3,600 CAKE this week. It is coming down. It still requires $77K to make it into the list so please keep that in mind. We have not made it into the final list but managed to say in the top 5 for close to 24 hours.  The hurdle is getting ever closer to our acceptable level and we’ll keep participating until either hurdle comes down or we reach point where our budget goes up to match.

Thank you all contributors for your support!

Feeder Finance DApp Changelog

Please keep track of pending DApp updates and suggestions at community.feeder.finance

Note:  As we’re upgrading the UI significantly with v2.0, we won’t be making major UI updates until then as they would be replaced with the new UI.  

v.081821

  • AutoStaking:  Compound.  Deposit RABBIT target Rabbit Finance
  • AutoStaking:  Compound.  Deposit XVS target Rabbit Finance