Feeder Finance Week of May 17th – Highlights

This is our first weekly video summary at the request of our community and also the 1 month anniversary of Feeder Finance!

A lot of progress has been made on the project as a whole this week!  We’ll be discussing timelines, new marketing plans, new articles, community updates, among other things.  However, it may also be helpful, to quickly discuss what is happening in the cryptocurrency markets. 

Crypto Market Commentary – not financial advice

A little over a year ago, the market reversed and we entered a new bull market.  This came after a 3-year long bear and consolidation period, which saw aggregate crypto market cap fall close to 90% from peak to trough; that’s ~800 billion to ~80 billion.

From the trough, however, the market roared back and then some!  The final low was hit in March of 2020, during the midst of the corona pandemic crash. A little over a year later, and the aggregate crypto market has blown past its last peak and hit 2.6 TRILLION! That’s a 20x increase! ETH went 53x its trough and BNB also went 155x during the same period.

Any asset that can do that, will do so with extreme volatility.  Veteran investors in crypto have been through this 10x over and still remain crypto investors. It’s because they understand the potential of the technology, the innovation, and the speed. They accept volatility as a given, and manage their portfolio and expectations accordingly. 

As of this moment; the current market condition does not have the technical characteristics of a “bear market”. A correction is healthy and should be welcomed. Anxiety about corrections keeps new retail and institutional investors away.  This is the first time since the bull market that we’ve had a proper pullback; and in almost all scenarios I hear the word “opportunity.” New long-term capital will use this as an opportunity to enter the market, and the next run-up will be stronger and longer-lasting thanks to it.

What can you do to stay ahead of the markets?

  1. Have a process that gives you comfort under any circumstances
  2. Do your own research and due diligence
  3. Invest in projects that create value
  4. Manage your portfolio prudently
  5. Have faith and trust all will be well over time!  

Development Timelines

Products

Jimmy has been working hard on the background to finish our first core products.  

Current Timeline Expectations:

End of May – Complete smart contract and complete unit testing (scenario tests)

Starting First Week of June – Launch on test net to study the smart contract execution and look for bugs, observe performance, tweaks if necessary.

Third Week of June

  • Look for community members with dev skills to join Jimmy in going over the smart contracts and testing to get a second opinion; ensuring safety, vulnerability, and execution.
  • CertiK starts auditing our contracts.  We’ll iterate with them if they have comments to make requested adjustments.

June 31/July 1 – Product Launch

Website

We’re redesigning the website to provide a more in-depth understanding of the product, Tokenomics, governance, and other relevant information.

Current Timeline Expectations:

May 24th – Our new front-end developer is working on programming the design.  His expectation is to complete the makeover by Monday.

Week of May 24th – Once the front page is done, we’ll need to do a makeover to the dApp (Dashboard) itself; we expect that to be done over the course of next week.

Note:  The product pages have already been designed.  We’ll have that up and running without delay once the product is complete.

Mascot

We’ve taken your inputs and have finalized our Mascot to be a low poly-styled Jaybird.  It speaks to us on multiple levels from beauty, colors, and the symbolic message.  The low poly style will also allow us to create animated media like videos as a teaser in the future. 

Week of May 24 – The designer is working on this, and we expect completion by this upcoming week.

Other Non-Core Updates

Documentation (“Docs”) – We’ve made multiple tweaks on the docs over the past week with the help of Rafael and DJ

Marketing

FFP-3: Shifting Marketing Focus

We’ve launched a proposal (see FFP-3) that would ask the community to allow us to proceed with the funds we’ve voted on during FFP-2 for other marketing purposes as we end the pursuit of a vault partnership strategy.

A vote will take place on May 25th.  Please make sure you study the proposal and cast your vote.

In brief:  Market conditions have changed, and as of latest, we’d need more than the available funds to provide our partner with a booster. It would also mean we’d forgo our ability to do most other marketing initiatives.  Ultimately we’d be putting all our eggs in one basket, and it simply doesn’t make sense to the team.

Pre-Launch Marketing Initiatives

Using available funds, we’ll soon start our pre-launch marketing initiatives.  This will involve:

1. KOL Strategy:  Using our new website and first teaser to approach influencers

  • We’ll likely attract existing DeFi investors first as new holders of the FEED token but ultimately also as vault users
  • We’ll start with less influential (lower economics required) and move on to the top tier after launch

For this effort, we’ve asked the community for influencer/KOLs ideas that we could approach.  We’ve already got some great suggestions so far, but we welcome more.  Please do share when you can at the Feeder Finance Suggestions Group.

2. Media:  We are in contact with CoinTelegraph and will try to proceed with a Sponsored Article to be published on the day of the product launch to maximize exposure

3. More: Teaser Video ideas we’re working on

  • [For DeFi Audience ] Product detailed walkthrough
  • [For Non-DeFi Audience] Platform teaser with real-world connect

Publications

It Takes Two to Tango

In response to my attempt to understanding the price dynamics of FEED token, I’ve written a short article highlighting the downside of having a single liquidity pool with a non-stablecoin (ie.: BNB).  As prices are quoted in USD, but traded in BNB, our prices are not isolated from the BNB price and its decline has a USD impact on FEED price as well.  One way to help reduce this is to give arbitrageurs the tools to balance the price and demand/supply.  This is by adding another FEED-BUSD pool.  We’ll revisit this again as it would likely require the community to sponsor another farm for FEED/BUSD LPs.

How to Buy Your First Crypto

Rafael has written a great article summarizing the process of buying your first crypto in a very simple step-by-step tutorial.  We hope that this might be useful to you and others in helping friends and family learn how it is done.

Community

We’re excited to have added, with the help of our very own community members, two new Telegram Groups catered to specific countries

  1. Brazilian / Portuguese (Link)
  2. Turkish (Link)

Nothing written here is financial advice.  Please DYOR.