Feeder Finance Mid-Week Update – Sep 22, 2021

TL;DR

  • Dex Aggregator front-end and back-end mostly complete; finalizing internal testing this week
  • Working on at least five additional Compound vaults and are testing APIs
  • Vault TVL still hitting all-time highs at close to 5,900 BNB
  • We’ve onboarding an excellent senior developer to help Jimmy; together, we now have 3 full-time and 1 part-time developer working with us
  • No update on Explained Article; ball’s in CT’s court

Community Support

Core Business Updates

DEX Aggregator

  • Our front-end programmer has already shared the code with Jimmy.  He’s now polishing to get to the finish line.
  • On the back-end side, we’re mostly done with auto slippage controls and conditions.
  • We’re hoping to finalize the internal testing this week.

Compound Vaults

  • We’re working on at least five additional Compound vaults and are testing the APIs right now to make sure the APYs are showing an accurate estimation.  
  • Market turbulences have caused capital to flow into stables.  This can be seen from a declining APY estimation of most stable vaults.  More capital supplied into lending platforms mean lower utilization rates and, therefore, lower returns for the supplier of capital. The encouraging sign is that our users are no less doing the supplying on Feeder Finance as well!
  • When measured in BNB, our vault TVL has hit all-time highs from ~2,400BNB at the beginning of September to ~5,900BNB as of today. Measuring in BNB is, in our minds, a good way to exclude the impact of market movements as BNB arguably sets the base for aggregate token value on BSC.  Note, though, that these are vaults, not Farming or Staking TVL; in other words, our core business is still growing.

Growing our Team

  • Jimmy has been single-handedly leading the development side of the project for most of the project’s early stages. 
  • Over the past month or two, we’ve had Rafael also joined us on our development front.  He’s an amazing developer and is behind most of our APIs and more.
  • We’ve also had part-time help on the front-end development recently, who’s helped Jimmy create the beautiful front-end that’s live now.
  • I’m delighted to announce that we’ve now onboarded an excellent new senior developer that will help speed up our process to complete community suggestions lists and help Jimmy set up/clean up our backend management.

Other Updates

Cointelegraph Explained Article

No update here.  The latest status is that we’ve already submitted our thoughts on the Q&A format of the Explained Article and are now waiting for them to cycle it and come up with a draft for us to review.

Feeder Finance DApp Changelog

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

Five Recent Changelogs: 

Time stamp:  Week 21 of Feeder Finance