Dex Finance Quarterly Report
Wow! What a crazy few months it’s been since the launch of Money Market! We’d like to start by thanking all of our investors, both old and new alike, for the confidence you’ve placed in us. We receive gratitude daily in our Discord and Telegram chats, but we know that none of this would be possible without the overwhelming support from the Dex Community! With BTC losing a third of its value on the day we launched, we couldn’t be happier with how far we’ve come and could not be more grateful for the community adoption of our platform in the midst of all the macro economic uncertainty.
We want to take some time to celebrate and provide an update on all of the achievements that have taken place since the Money Market launch in May.
- Completed three additional audits of the Dex Finance protocol to minimize risk for our investors.
- Launched bonding with Olympus Pro. Bonding provides a benefit to users by providing USDEX, dexSHARE, or DEX(IRA) tokens at a discount in exchange for providing certain tokens or liquidity pairs. Bonding provides an enormous benefit to the Dex Finance protocol by increasing the treasury assets for protocol owned liquidity and peg regulation of USDEX.
- TVL > $15 million! Thanks to the wonderful support of our community of investors, the project surpassed a TVL (total value locked) of $10M approximately one month after the Money Market launch and broke $20M approximately one month later. We are currently holding at $15 million locked in the Dex Finance ecosystem.
- In addition to the aforementioned achievements, we want to recognize the work of our dev teams providing numerous backend and frontend updates/bug fixes to improve the UI experience for our investors. Recent accomplishments include an updated dexDAO treasury tracker and a new wrapped DEX(IRA)/dexSHARE rewards interface.
We’re so thankful to be on this journey with a community of well-educated investors. We strive to be active within the community and respond to questions and feedback. We challenge ourselves to do things differently, and we’re not content with just releasing forks from previous struggling or failed projects. Technological advancements are built upon the work of past innovators in order to forward progress. Since our inception, we have met this challenge head on by deploying unique and innovative concepts built upon open source contributions from prior blockchain innovations.
The dexIRA tokenomics and Money Market ecosystem operate differently from the projects that many are used to. We are determined to make Dex Finance accessible to investors of every experience level. To shorten the learning curve, we will be launching dexED and updating the dexDOCS on our website in the near future. dexED will be a series of short educational videos designed to help our users quickly understand the basics of the Dex Finance ecosystem. The updates to the dexDOCS will provide additional detail for those interested in a deeper understanding of the ecosystem in addition to releasing new content on the upcoming roadmap releases.
Speaking of roadmap, did we forget to mention that we also released our 1 year roadmap?!?!
The roadmap focuses on creating products that cause deflationary measures for the Dex ecosystem tokens and accrue fees for our treasury. One of the features we’ll be adding to the dexDAO page will be a fee tracker. This will track revenue earned by the platform outside of the Dex Finance ecosystem. The initial one-year period for the Money Market is designed to showcase what we can achieve while we create a runway of sustainable revenue for long term growth. Investors will be able to continue to stake their tokens in order to earn a portion of the revenue earned through fees and services. Think of your current investment in our products as a way for you to acquire equity in one of the fastest growing decentralized banks on the blockchain right now.
We know it’s been a while since we posted a Medium article, and we had so much to cover! We are committed to providing more updates in the future to dive deeper into our roadmap and the value we believe it will bring to the community of the Dex Finance ecosystem.
If you want the most up-to-date information, we strongly suggest joining our discord community at: https://discord.gg/DexFinance
Links to our other social media accounts can be found on DexFinance.com.