Feeder Finance Week of June 7,2021 – Highlights

TL;DR

  • CertiK prelim report done; discussing final points
  • PeckShield engagement moving forward
  • Vaults Feed was upgraded over the week; ahead of submission
  • Roadmap and Platform teaser released
  • XT.com Listing announced
  • Weekly Buyback Detail
  • Meme Competition

Audits

Certik Auditing

We’ve received the preliminary report of our deployed contracts. No critical or Major issues! We’re discussing other comments the auditors have and should release the audit in the next couple of days.

Things got a little more complicated on the Vaults Feed auditing after CertiK reviewed the masterpiece of a smart contract Jimmy put together. We’ve been asked to renegotiate the audit contracts. There was an underestimation of how unique the vault smart contract would be; it’s not a fork like most new projects these days, and hence more time will be required to audit. We’re working with them to sort that out and will update when things are more clear.

PeckShield Auditing

We’ve had a conference call with the PeckShield founder today and are moving forward with negotiating terms.

The goal here is to supplement the CertiK audit and build more credibility for our project.  Ultimately we want people to feel secure.  What’s the point of diversifying, when the very place you pass through to diversify is vulnerable? We can’t leave a stone unturned in the pursuit of security and safety.

Product

Vaults Feed

We’ve spent the final days before the deadline for audit submission to add as many options (Target Vault and Deposit Token) to the MVP as possible.

In the negotiations with our auditors; we may be asked to remove some of these parts to speed up the process. We’ll have them ready to deploy in our backlog for future upgrades if that’s the case.

Dashboard Upgrade

We have received the dashboard rework from the designer; but we still have comments. It has since been sent back for further tweaks but we promise; it’s going to be worth the wait.

We’re aiming for dashboard completion to be up on the site by product launch; this timing will not be delayed. It will be the face of our product, and its UI/UX will give the project and product legitimacy and trust. It’s a matter of getting it right; and we’d rather not rush it.

There is still plenty of time left, after all.

Roadmap

More detailed overview can be found here:  https://docs.feeder.finance/progress-roadmap but to give you a brief of what’s upcoming:

June

  • CertiK Audit Release
  • We’re already exploring chain agnosticism
  • Vaults Feed Release

July

  • Marketing outreach and partnerships will likely become easier with a Live product. We’ll work on this on the Business Development side. TVL is the goal; everything else will fall into place with a strong TVL and TVL growth
  • LP Vaults Feed / Feeder Finance LP Vaults aiming for beta release by the end of July. (See notes at the bottom)
  • We aim to have completed deploying on an additional blockchain. We’re still exploring options so more on that when we have clarity.

August

  • We’ll aim to get the LP-focused product improved and audited after July’s beta release
  • Vaults Feed will continue to improve in optionality and scope as time passes

LP Vaults Feed / Feeder Finance LP Vaults

While we aim to be a DeFi Aggregator and, by definition, aggregate products from various platforms to simplify the investing experience, we must be mindful of market environments and be flexible. We’re exploring both alternatives for the LP-focused products. We could either aggregate current vaults that farm on LPs or aggregate LPs themselves and ultimately create our own vault product focusing on diversification, which is still in line with our philosophy. It will become more apparent when we clear our first milestone of the Vaults Feed release and various other supporting work we’re focused on.  

Marketing

Platform Teaser

We’ve released our platform teaser this week. We recognize there is much room for improvement. However, we think this is sufficient with limited resources and time but will continue to improve our standards over time.

We’re also working on the storyboard for the product teaser and have started contacting animators for the process. The platform teaser was done in a relatively short time, for we were concerned we won’t make it in time for launch. Typical top-tier teams require roughly about a month of work, and we’ll go with the top-tier this time.

 

Upcoming XT.com Listing

We’ve thought about trying to reach the Chinese market and were looking for options. We’ve had contact and an offer from BTS Labs (a community recommendation) and will likely start working with promoters post-product launch.

We’ve also come into contact with XT.com (#40 on CMC Exchange Ranking) through our research. The listing comes with marketing to the Chinese market through their China-specific channels like WeChat and others. Other marketing support will include: Articles in both Chinese and English, AMA through WeChat Group & TG, Social Media announcements, Trading Competition on XT.com, etc

The Chinese market is a market that, for various well-known reasons, has yet to come into the global crypto scene in a major way. The amount of capital locked within the Chinese economic powerhouse is almost unrivaled. The people are savvy investors and risk-seeking. We’d like to stay ahead of that and start planting seeds.

The IEO will happen on June 16, 3PM UTC+8

Farm Withdrawal Fees Buyback

Our completed our 4th weekly buyback, please find details below:

 

On-Going Activities

Meme Contest:  LINK

Don’t forget to participate in our meme competition! I’d like to remind everyone of our rules for the event:
1) Post your meme to the twitter competition thread
2) Tag @FeederFinance, $FEED, and #FeederFinanceMemeContest and your favorite DeFi personality
3) Most upvotes + retweets wins (No cheating! We’ll know )

Competition ends 28/06 @ 12am GMT+1