Feeder Finance Weekly Highlights – Aug 22, 2021

TL;DR

  • In the final stages of v2.0 development
  • Launched XVS, RABBIT, and ADA Compound 
  • Product Updates for BUSD & USDT Auto Diversify and DOP 2Pool  
  • Block Reduction
  • PancakeSwap Farm Auction

Community Support

Core Business Updates

Feeder Finance Platform V2.0 Development Progress

We’re in the final stages of V2.0 development and are making good progress.

  • Design (95%): We’re 95% there on the total design work.  Mostly touching up of the Invest and Portfolio page with the new pages largely complete.
  • Back-End (85%) : Most of the major APIs have been completed. We’ve completed 85% of the APIs so far.
  • Front-End (80%) : We’ve completed most of the programming for the two new pages we’re adding, and are still now working on the existing pages.  
  • Products (50%): Jimmy has already developed the contract for which new products will be based off.  We can likely start to ramp the those up next week in preparation for the launch.  

AutoStaking Compound Releases

We’ve completed three planned Compound vaults this week:

  • Rabbit Finance: XVS
  • Rabbit Finance:  RABBIT
  • Rabbit Finance:  ADA

These are the upcoming priorities:

AutoStaking: Compound

  • Rabbit Finnance: MDX 
  • Pancake Bunny: BUNNY 

Product Update

USDT BUSD DOP 2Pool Compound Update

What changed:
1) Withdrawal fees set to zero (0%)
2) USDT and BUSD DOP 2Pool will get updated next week

Background: Dopple migrated their token to DOPX.  Liquidity pool was small and unstable over the migration period and we have not yet migrated our compounding of reward token over yet.  We’ll do so in the upcoming week.

USDT & BUSD Auto Diversify Update

What changed: We’ve now allocated 100% to ACS while we wait for things to get settled on Dopple’s side and for us to adjust our resources accordingly. 

New Target: We’ve already identified an alternative target which could be added securely. Our thinking behind continuing to target Dopple is tilted towards dropping the platform entirely or keeping only one inside Auto Diversify. We think their unannounced changes and other aspects of how the platform is managed could be a recurring feature and are not comfortable with this.

When? Either reallocating funds to Dopple’s new contract or to a new target will take at least three days. This is because we take incredible care in 1) writing internal test scenarios, 2) test the entire migration on a test net, and 3) deploying a new contract to test the migration on the main net before we actually perform any update on our existing live products. This is incredibly time consuming but necessary for the safety of our products and we will not skip these steps for the sake of speed. Our safety protocols are in place and we follow them strictly.

In light of this, we’ve decided to focus on completing our WIP on the v2.0 for this week. Once that is complete we’ll allocate time to updating the Auto Diversify BUSD and USDT products.

What do you need to do? Nothing! The great thing about our structured products is that you have to do nothing at all. We do the heavy lifting with our AutoDiversify targets to make sure your funds stay safe and diversified. Funds are still earning APY from the current allocation being swapped to 100% ACS. The update we’ll make once we’re ready to swap allocations to new target vaults will not require users to do anything at all, either!

Other Developments

Block Reduction

We’ve officially reduced the FEED per block rewards to 7.00 from 7.50 FEED. We’re on our 17th week now from the schedule perspective and will have another reduction in a month from now.

PancakeSwap Farm Auction

We’ve participated in the farm auction earlier this week. The minimum bid to get into top 5 is 3,600 CAKE this week. It is coming down. It still requires $77K to make it into the list so please keep that in mind. We have not made it into the final list but managed to say in the top 5 for close to 24 hours. The hurdle is getting ever closer to our acceptable level and we’ll keep participating until either hurdle comes down or we reach point where our budget goes up to match.

Thank you all contributors for your support!

Feeder Finance DApp Changelog

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

Note:  As we’re upgrading the UI significantly with v2.0, we won’t be making major UI updates until then as they would be replaced with the new UI.  

v.082221

  • AutoStaking:  Compound.  Deposit ADA target Rabbit Finance

v.081821

  • AutoStaking:  Compound.  Deposit RABBIT target Rabbit Finance
  • AutoStaking:  Compound.  Deposit XVS target Rabbit Finance