Feeder Finance Week of June 28 – Highlights

TL;DR

  • New DApp, new docs, product names, and general platform wording simplified
  • Audit progressing well; had a working session with PeckShield over the weekend
  • Marketing update from over the week

DApp

The first product is currently undergoing an audit from PeckShield. If you have seen the launch of the new DApp interface today, then perhaps you may have noticed that we have renamed our products! “Vaults Feed”, is now “AutoStaking” and “LP Vaults Feed” is now “AutoFarming”.  

We’ve had a lot of time to strategize and discuss internally; while we’re waiting for the audit, we decided to simplify the platform as much as possible. Through various discussions and surveys with current market participants, we have realized that the entry barrier to ours and similar platforms is complexity. While we want to be professional and create a high standard, the market in aggregate is not yet at that stage. We need to align ourselves with where the market and potential users are, both in the UI/UX and our documentation and product understanding.

This is what led to specific changes in our docs, product names, and product description. It is, purposefully, simplified.

Finally, there a many things on this front that have yet to be done. Our branding needs to be uniform and consistent across our front page, Twitter, etc. Other than that, there are minor tweaks and details that we still need to work on for the DApp itself. These changes are coming and will be implemented over the next week. Our focus, however, will be mainly geared on finishing up the audit with Peckshield and releasing our first product.

Audit

We’ve been waiting this week for PeckShield to finilize their initial findings and have had the chance to discuss and work with PeckShield over the weekend.  There are certain issues that needs to be resolved in the smart contract to make it more secure.  We’ve provided feedback on most issues and have sent back the revised contract to PeckShield for further review.  We’ll work on pending issues tomorrow to finalize before another turn with PeckShield.  

Marketing Update

It’s obviously on everybody’s mind. What happens post-launch on the marketing front? Here is what we plan and our thoughts:

  • Press Release: We have engaged a PR firm to help with the copywriting and release of the press release to 100s of channels. Given that many things have changed since we’ve had our first draft, we’ll need to have them rewritten once the PeckShield audit is complete and the smart contract ready. We’ll likely have it ready for release briefly after launch. The same press release will also be shared with CoinTelegraph; we’ve already completed initial discussions and are ready for that.
  • Partnerships: We’ve had two pending discussions with projects with much greater exposure than us—one being a mid-size lending protocol and another project that’s really driving innovation in onboarding new crypto investors. We’ll reconnect with them as a priority after launch. We’ll also go back to other players in the ecosystem to see if a discussion can be had.
  • Others: We could do a couple of other things after product launch; we have deliberately held off on these until product launch, given early feedback. These are things like influencer marketing, AMAs, farming vaults and so on. The only hurdle is the price that these channels cost. They are ridiculously expensive, and we’ll need to make sure we don’t deplete our entire dev wallet for it – there are no guarantees we’ll gain TVL. We have great products to develop in the pipeline, and audits are even more expensive.