Feeder Finance Weekly Update – Mar 6, 2022

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Key Milestones to Achieve for ETH Dubai

Let’s start with where we are on our milestones to ETH Dubai.

1) We’ve completed new lending vault support for BNB and FTM and will move on to AVAX 

2) We should have two more chains by next week and have 50 or so vaults to support our lending MVP

3) We’ve completed internal testing for the ability to allow anyone to add a new token to lending. While we’ll support all the major ones from the get-go, many projects may want to utilize our lending protocol. This would enable that to any community and project. We’ll charge a $300 fee to our FEED-Native LP Treasury. There are two benefits to this: 1) We prevent people spamming the protocol with random coins by creating some barrier, and 2) we create lending as a service business that helps grow our Treasury  

4) Roadmap drafting was completed, and the team is cycling it internally. The docs are 90% there, pending a page or two.

Progress on New Vault Launches

We’ve launched roughly 20 vaults or so that support lending this week and will enable most of it tomorrow on the live public version. As mentioned, we should have something like 50 possible options across 4-5 chains by Eth Dubai.

Other Updates

  • Added new ‘Stats’ feature on Lending.  At the moment, this page shows the lending rate of each token and their respective lending volume.  In future updates, we’ll also add the LTV, Duration, and APR for all collateralized tokens.
  • Other minor updates on lending and portfolio pages.

Time stamp:  Week 44 of Feeder Finance