Feeder Finance Weekly Update – Apr 20, 2022

Community Support

  1. Twitter  – Follow & RT & Like
  2. Announcement Channel  – Follow & Forward Posts
  3. DappRadar  – Just Click
  4. Google Search Engine For Website  – Just Click
  5. Ape Board  – Upvote & Comment
  6. Zapper: Upvote & Comment
  7. Zerion – Upvote & Comment
  8. PancakeSwap – Star Us
  9. Blockfolio  – Upvote & Comment
  10. CoinGecko  – Star Us & Thumbs Up
  11. Dextools  – Watchlist & Thumbs Up
  12. CoinMarketCap  – Watchlist & Thumbs Up

Development Updates and Flow

Lottery Update

  • Some of you in the chats may know that we’ve updated the contract to increase the ticket price from 10 FEED per ticket to 50 FEED per ticket.
  • This makes the ticket cost more proportionate to the gas cost, which is relatively high if you purchase many tickets.
  • The contract is industry standard, and we noticed the issue during testing but did not want to make changes because we did not like introducing risks.
  • Over 2,000 tickets have already been sold, and we have ~170K FEED in the pot, so please join in for some fun!
  • Note that 5% ticket fees go to the stakers, so everybody wins! 

Bridge Aggregator

  • We’re hoping to push this out next week
  • Pandit is currently working on the UI with some comments from the team in our call yesterday requesting things like max button, wallet balances, and progress UI
  • If you didn’t know, the product would allow you to bridge/swap to various chains by giving you bridge options to select from and doing it all on the FF platform.

LoanShop Lending Upgrade

  • In our meeting yesterday, we saw what Ape and Jimmy have been cooking up; it’s looking great!
  • Again, the contract is done, and we’re working on the UI.
  • The UI is much more straightforward and more intuitive than the current P2P, which many of you found overly;  complicated (we’ll work on that and a video tutorial)
  • There were questions about whether it will replace the current P2P; the answer is “no.” 
  • The LoanShop serves a different purpose, a more automated version where you essentially create your very own Venus protocol.  Supply any token into your pool and preset which tokens you’d like to accept as collateral, at what LTV and APR.  The P2P is a 1-on-1 deal that is less automated and more direct.
  • The cool thing is once we have a couple dozens of such LoanShops, we could create a lending aggregator on top whereby it would automatically seek the best shop based on your collateral and borrowing preferences.  So another incredible and new innovation by the team!

NFT Marketplace

  • Rafael has updated us on progress, and the smart contract is virtually done.
  • There will need to be some link-up of the contract with a mock-up UI, after which Ape will perfect the UI to get it ready for release.
  • The marketplace will automatically pull all your NFTs in the wallet (contract and image) and allow users to buy and sell any NFT on BNB without manually listing them on the platform.

Vaults

  • Vaults have become less of a focus for now but are still something the team will keep working on long-term.
  • Vaults are highly resourced intensive and require a lot of maintenance.  
  • Jimmy will train the team to work on it as it’s technically not difficult to launch, just very time-consuming and not a very productive use of Jimmy’s time while he builds unique and new products.

Time stamp:  Week 50 of Feeder Finance