Feeder Finance Weekly Update – Feb 27, 2022

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We’ve pushed many UI/UX updates to the lending protocol and other areas, with multiple other updates pending push. 

A significant update for you guys and us is that the team is heading to Dubai for the ETH Dubai conference. We’ll be there for two weeks and there are multiple events happening which we’ll take part in. We’ve purchased a sponsorship spot there will do our best to get the word out about the project, so we have a couple of key milestones to achieve ahead of this event.

Let’s dive in!

New Vault Contract for Lending

  • A significant update and structural change is coming to lending and the vaults; as both are related.
  • Going forward, all our new vaults and vaults that support lending will be a new and more decentralized contract structure; how?
    • It will issue receipt tokens after vault deposit;  users would collateralize the receipt token for lending instead of being forced to go through the lending flow.
    • It will also auto-compound on deposit and have a compound function for anyone to manually do so; the UI will update to allow you to do this easily yourself as well (see snapshot below)
    • Gas costs will be reduced by at least 50%
    • It will have ingrained data recording within the smart contract that will allow us to be creative with our UI in the future. 
  • Older vaults that are either popular or have high APY may be relaunched with the new contract, but our focus will first be on adding vaults that we’ll focus on for showcasing P2P lending.
New Vault UI

Key Milestones to Achieve for ETH Dubai

  • We’ll prioritize three things that we’ll get done before our trip to Dubai
    • 1) Increase chain coverage by 1-2 chains to showcase our true multichain experience
    • 2) Ensure that P2P lending is fully functional with at least ten new vaults launched and available per chain for lending
    • 3) Release our roadmap
  • On the roadmap, Jimmy will finalize the UI (which needs some updating because of the new structure change) in the next few days, and Patrick will complete the roadmap once Jimmy’s done.
  • We have also discussed exciting upgrades to lending and an entirely new super cool product that will be highly deflationary to FEED token sustainably and entertainingly; we’ll outline that in the roadmap.

Other Updates

Lending UI/UX tweaks and fixes such as

  • New: TVL coloring when creating offers to indicate high/low
  • New: Duplicate Offer button
  • Update: Bid/Offer Summary edits
  • Update: Portfolio lending repayment summary
  • Update: Token verification status
  • Other fixes/edits

Other UX/UI updates

  • Updated: Exchange button updates on wallet section
  • Updated: APY/APR on portfolio table

Time stamp:  Week 43 of Feeder Finance