Feeder Finance Mid-Week Update – Sep 29, 2021

TL;DR

  • AutoFarming progressing well:
    • Front-testing our contracts on mainnet now
    • APIs are halfway complete, and
    • UIs rough cut complete, polishing as we speak
  • No vault launches this week; we’re entering the pressure mode for our AutoFarming launch; good APYs on DAI and XVS staking right now though
  • CoinTelegraph still progressing on their side
  • Two wallet partnership discussions completed; positive results.  
  • No changelog update; senior dev working on backend housekeeping

Community Support

Core Business Updates

Auto Farming Products

As mentioned in the previous update, we’re working towards becoming more than just another place to stake LPs to auto-compound; this way, we’re adding value to the ecosystem

What we’ll need are the APIs to support:

  1. Current & Historical change in underlying tokens
  2. Current & Historical $ Value of LPs
  3. Calculate ILs to visualize this for users; “a picture is worth a thousand words” after all.

We’ll also need the UI to be clean and intuitive.

Our progress?

  • The AutoFarming Contract is currently getting front-tested on mainnet
  • Roughly half of the APIs are now complete
  • We have the UI rough cut already thought out and are working on finalizing 

Compound Vaults

We’ve launched five vaults last week and aren’t planning on launching any this week as we enter the final stages of our AutoFarming development.

The market decline over the last weeks has dampened APY across the board.  Remember, most of the APY in staking products are driven by rewards.  The exception was XVS; their APY went through the roof thanks to RABBIT’s high utilization rate.  Today though, with the market rebound, we’ve seen some products recouping their APYs again.  Most dominantly, DAI Bunny QBT offering over 30% for stablecoin.  

Note, though, APY figures are backward-looking and only offer an estimation of the future.  Future market movements and demand/supply will drive outcomes.

Other Updates

Cointelegraph Explained Article

No update from the CT team just yet. We checked in with them late last week, and they confirmed that it’s processing. It’s also not bad for the article to come out during more suitable market environments; so the exposure to potential users and investors is higher.

Wallet Partnership Discussions

Had two calls over the past couple of days.  Both ended exceptionally well.  Can’t comment further but looking forward to what’s coming in terms of partnerships.

This should be the beginning of our business development to expand our partnerships. We’ve not done any major partnerships so far; and not because we haven’t wanted to, but because we’re getting closer and closer to having a platform that will attract and excite potential partners we approach and talk to. Strategically crafting a dialogue with our potential partners is crucial to getting them to trust and support us in our mission to deliver an ‘All-In-One DeFi Platform’. This is why things are happening now; and why as we develop, more things will happen and sooner, and faster.

Patience is key.

Feeder Finance DApp Changelog

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

No changelog update. Our new senior dev is working on building a backend system for monitoring our products.  As the list gets bigger, we need to do some housekeeping to make sure we can securely and efficiently manage the ever-growing portfolio.

Five Recent Changelogs: 

Time stamp:  Week 21 of Feeder Finance