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Our development focus remains primarily on building out the lending front-end. Some congestion issues on FTM/BSC RPC nodes making lending dev difficult had Jimmy also shuffling around with some minor updates and efficiency improvements to the portfolio. Details are further below.
The market calmed down a little but just finished pricing in expectations about the Fed and current situations in Ukraine. With the Fed press conference, one of those expectations will be repriced in an hour or so.
Two potential outcomes here in my mind, and remember, this isn’t financial advice.
- Good Outcome: The Fed remains dovish and tries to signal a soft landing with some hikes/QT along the way, but nothing abrupt. The Fed recognizes that inflation is an issue, but economic stress due to the pandemic, among other things, is an issue of concern. If this is the case, my view is we probably pop for a bit, but I think that’s largely priced in.
- Bad Outcome: They don’t give a shit because inflation is the biggest enemy. Employment numbers look good, so there is nothing to fear. I don’t think this is priced to the fullest extent yet. Keep an eye out for the yield curve, guys; bond traders are the smartest money out there. Short-term rates have moved higher, but longer-term rates (10y/30y) look relatively calm after that big jump a couple weeks ago. This means bond traders think hikes are imminent, but they don’t believe a recession is coming, nor do they think the Fed can hike too aggressively.
All this can change very quickly, but it helps to be aware and understand what the market is ‘thinking’ because it’s easier to predict how it would ‘react’ to developments.
Enough of that. While all hell broke loose, devs were busy, very busy! Let’s dive into the massive amounts of dev progress we’ve made in a matter of three days.
Feeder P2P Lending Revolution
The contract is done and audited, as you know. Front-end is what we’re working on. Specifically building out and adjusting the designs and testing the built-out functionalities live. We’re 70-80% there and are also taking this extra breathing room brought to us by the market to prepare for future P2P lending upgrades on the backend right away. It makes upgrading much faster and easier when the time comes.
FTM nodes have given us many headaches and are preventing us from developing at full speed.
To ensure this problem is minimized after launch, Jimmy has spent some time building ‘RPC Health Check’ and ‘Efficient RPC Block Selection Mechanism’ on the backend to ensure our DApps are always using the most efficient recent blocks. To put it simply, our front-end would constantly check for the most recent block health at RPC nodes and automatically display the block within our universe with the most complete data. This is a novel solution developed internally by the Feeder team, and are really proud of it. You won’t notice it, which is the point.
We haven’t launched any new vaults nor have we had spent more time on a planned upgrade of the standard vault contract. We mentioned our priorities above and some further below. We’re not in a rush to launch AVAX just because it isn’t quite the right time so we’re managing our priorities.
To recap: Jimmy’s plans another upgrade to the vault contracts to completely decentralize Feeder vaults. A fully Web3-based infrastructure. The end result that we hope for is decentralized data storage, launch, and management mechanisms for future Feeder vaults.
You’ll find out more once those are launched. Our hope is to get this out with the upcoming AVAX launch.
We hope you have noticed by now the Portfolio has become lightning fast. Some major rewiring was done on the backend to reorganize how data was pulled and displayed. We optimized for maximum display speed, which means we had to figure out what needed to be pulled and shown first and in which order to create the smoothest UX. On top of that, we had to figure out how to do so while not delaying data pull from the blocks to show you your investments. That’s as detailed as I understood it because it’s the devs’ genius work; that’s way above my pay grade. I’m just a storyteller here.
Other Minor Updates
A lot of pending work was completed by Pandit, and Rafael is to be pushed, which covers things like copy edits, bugs fixes, new filtering features, new UI improvements, and sFEED staking page upgrade.
Time stamp: Week 39 of Feeder Finance