I know we say this most updates but wow, what a month November turned out to be.
· Our CEO Steven Ward attended the Cardano summit in Dubai and rubbed shoulders with some of the best in the ecosystem.
· We integrated Charli3 to ensure the utmost security in vault analytics data.
· Released some great new farms
· Released two articles on FDV vs Price & VyFi 1.5
· Held a Townhall meeting to discuss everything VyFinance
· Dropped our new Frontend/UI
· Submitted our Auto-Harvester proposal for Catalyst Fund 11
The Cardano Summit:
The Summit was once again an amazing opportunity for us to build visibility and relationships in the Cardano ecosystem. Working in the Crypto space, by its nature of being an internet business can be isolating. Working from home with people situated around the world offers only a few occasions to step out of the virtual medium and interact with one another in person. This type of exchange is second to none. Events such as the summit genuinely give projects a chance to break out of their bubble and shape long lasting and real connections with eachother. The weeks that followed the Cardano Summit were full of follow ups and increased collaboration, we could not be more proud to be part of this ecosystem and its events like this that prove why Cardano is such a wonderful place to work and build.
(photos from the summit at the bottom of the article)
A team we have worked with for such a long time and have quite a close friendship with is Charli3. In November we were able to take this to the next level and integrate Charli3 oracle systems into our platform. This provides VyFinance with a stronger, more accurate system and we are very proud to be Charli3’s 4th integrator.
“Charli3’s ADA/USD feed manages the price of ADA from 15 separate sources, ensuring the most accurate and up-to-date values of Cardano’s native asset, and ensuring the security of monetary value pay-outs for systems such as VyFinances vaults.”
We introduced two new farms last month belonging to some great projects in the NFT space.
$JELLY which is part of the Blockinvestmentgroup dropped last month and made a huge splash. We (like everyone else in the ecosystem) couldn’t be more excited for what their team is building and are very proud to offer a dual farm for liquidity providers to the ADA/JELLY pool on VyFinance.
“The Block Investment Group is a mastermind of individuals all striving to be the BEST version of themselves. Being part of the Block means you are a DREAM CHASER. A TREND SETTER. A MFer that decided to FORGE their OWN PATH and ERASE ALL LIMITATIONS. If you are someone trying to be the BEST you can be — join the Block Fam and level up together.”
Learn more here: https://linktr.ee/blockinvestmentgroup
The next new farm released needs no introduction. Jpg.store is a behemoth in the Cardano ecosystem, making up 96.38% of volume in NFT sales. There is no denying they have built themselves into the Cardano zeitgeist.
“JPG Store is the largest Cardano NFT marketplace. We believe in people, planet, & purpose before profit. We believe in endlessly supporting creators. We believe in YOU. Join us in our mission to create a brighter future for all.”
Learn more here: https://www.jpg.store/
We released two new articles in November. The first being a discussion on FDV vs Price. This is a topic that has surrounded not only VYFI but crypto in general. We took this as an opportunity to discuss in detail our opinion on the subject:
“FDV is a poor measure of our current market value, which is far more closely represented by our Market Cap instead. Consideration should be given to the rate of inflation, not just the FDV of any given project.”
To read the whole article visit this link: https://vyfinance.medium.com/is-there-a-relationship-between-fully-diluted-value-price-543d3ab229ae
The second article discussed VYFI 1.5. This is a term we are using to encompass an overhaul of the VyFinance platform including UI/Frontend updates, The re-worked transaction builder and upcoming features such as Governance/Treasury, Pool creation and Transaction Cart. We have spent a painstaking amount of time since launch optimising the platform and going through feedback to build the best version of our protocol. As it stands we are very proud of how far we have come and now the shiny new backend has a equally impressive UI to match
To read the whole article visit this link: https://vyfinance.medium.com/vyfi-1-5-3236cce7184e
In keeping with our philosophy to take on advice and sift through feedback. We held a townhall meeting on our discord and went through everything VyFinance as well as answered a range of questions from the community.
At end of last month we released something very close to our heart and extremely important to our users. After a huge team collaboration, including multiple designers, we were able to unveil the new VyFinance UI/Frontend. The new look is more sleek, modern and up to the standard of this ecosystem. We removed non essential graphics and slimed down pages where needed. At the same time we added a range of new information to the home page so users can now engage with the farms, lottery, vaults and bar all in one place. The feedback from the community has been amazing and we thank each and everyone of you who have tried it and let us know what you thought. As with everything we do, this is an ongoing improvement, and as time goes on we hope to further improve and work towards the best version of VyFinance we can be.
Catalyst Fund 11:
VyFinance has also recently submitted our proposal for the Catalyst Fund 11! We are asking the community to help us get the Auto-Harvester cooking and bring another new product to the forefront of Cardano. As mentioned in our proposal:
“By allowing easier access to liquidity provision for users, we will be able to boost the total liquidity available on-chain, and thus grow the entire ecosystem. Liquidity is the largest barrier to DeFi on the Cardano Blockchain currently, and this product will allow a streamlined mechanism for integration of liquidity strategies on-chain.”
We believe this product can push Cardano to new height and is a tool applicable to users of all levels of expertise. In the coming weeks you will hear a lot more from us on the Auto-Harvester and what it can do you the user, and Cardano the ecosystem.
Next on the agenda lets talk about our technical updates. Our Devs have been working tirelessly on updates to the UI and many upcoming products such as Governance and the Transaction Cart. To summarise their efforts (excluding the aforementioned UI update):
· Updated the snapshot server for governance for the whole VyFinance protocol
· Started development on the Transaction Cart
· Continued improvements on the TX Builder to deal with all edge/use cases