As we enter March, we would like to keep our community updated on everything that happened at STFX in February.
The primary focus during February was further development of the dApp as we prepare for the release of STFX 2.0.
dApp Features and Updates
February came with many features and updates. These changes were ones that were both live and visible on the dApp, as well as behind the scenes changes in preparation for STFX 2.0.
With 2.0 just around the corner, we wanted to take the dApp out of its 1.0 Alpha stage, into 1.5 Beta. The following implementations allowed us to do so.
We started the month off by increasing the STV maximum capacity from $1,000 to $2,500. This allowed managers to increase their position size, allowing for more potential profits for investors, and a larger manager fee for profitable trades.
We also improved the “My STVs” page on the dApp for users, merging both currently opened STVs, and already closed STVs on a single page, removing friction and improving the UX of the dApp for managers.
A list of further changes, implementations and bug fixes in February:
● Fix and handle partial liquidations on STVs
● Fix leaderboard statistics issue sometimes showing 2x PNL on single vaults
● Debug and fix broken preview card URLs
● Debug and fix “Connect Twitter Account” issue on new beta.stfx.io links
● Integrate GMX on Avalanche for BTC/ETH/AVAX perps
● Add backend support for upcoming spot asset integration on Avalanche
● Add backend support for upcoming spot asset integration on Arbitrum
● Add backend support for upcoming spot asset integration on Ethereum
● Add backend support for upcoming weekly + monthly leaderboards (CrossChain)
● Implement UniversalRouter (For swaps on V2 / V3 Uniswap)
● Security test undertaken on dApp
● Extensive code improvement and reconstruction in preparation for STFX 2.0
● Finalize upcoming “Live Charts” feature for STFX 2.0
● Finalize upcoming “Active Vaults” feature for STFX 2.0
● Improvements to framework and design structure of STFX 2.0
● Deployment of Multichain Code to production
● Redirection and Deployment of beta.stfx.io links on dApp
● Redesign of STV cards on STFX 2.0
● Write and construct reputation/max capacity algorithms for STFX 2.0
STFX Going Multichain
Our long term vision is for STFX to be deployed on every single relevant chain. We started working towards this by finally achieving multichain status, with our integration of the Avalanche chain.
This was a huge leap for STFX, and incredibly exciting for both ourselves and the community proving that our vision is coming into fruition. We will work to integrate more and more chains over the coming months.
Governance Discourse and Snapshot
After the public discussions on Discord, and the subsequent passing of both SIP-001 and SIP002, we decided to officially implement a true DAO Governance system.
We took a snapshot at Ethereum block #16,691,499, giving vote weight for STFX token holders. From here, we introduced both the governance and the voting pages, where people could propose, and vote on proposals that they wanted to see implemented.
With the introduction of governance, we posted the first official proposal for discussion:
Sip-003: Add STFX Token Liquidity to Arbitrum
One of the main topics of conversation surrounding the STFX token was the limited acces to some of the community, as it was only available to trade on the Ethereum chain. An issue that was regularly discussed was that Ethereum chain fees were too high for smaller buyers, as well as making it difficult to scalp trade the STFX token for day traders.
Having the STFX token available to trade on Arbitrum alleviates both of these issues.
After posting the proposal on gov.stfx.io, it received overwhelming support from the community. Following this, the proposal was passed to vote.stfx.io to be voted on.
With essentially 100% of the votes in favor of SIP-003, the proposal passed successfully.
STFX Token now tradeable on Arbitrum!
As soon as the Governance vote on Sip-003: Add STFX Token Liquidity to Arbitrum had been completed, our team went ahead and implemented the proposal. We have added liquidity to Arbitrum and the STFX Token is now officially tradeable on the Arbitrum chain using Uniswap V3! High Ethereum gas fees no longer stand in the way of anyone who wants to get access to the STFX Token.
STFX Token address on Arbitrum - 0x7DD747D63b094971e6638313A6a2685E80c7Fb2e
https://app.uniswap.org/#/swap?outputCurrency=0x7dd747d63b094971e6638313a6a2685e80c7fb2e
We Are Hiring!
After the successful token sale in January, we have made it our absolute goal to fulfill our promises as fast as we can. We have made it our priority to expand the team, onboarding some very important roles to ensure we can build out STFX to its maximum potential.
We are currently searching for candidates to fill the positions listed below:
If you feel you are a good fit for any of these roles, feel free to apply below:
Additionally, we are offering a $5,000 referral bounty if you are able to refer a candidate that ends up becoming part of the STFX team!
Spot Integration
The subject of spot integration on STFX has been one of the main talking topics from both ourselves and the community. We are in the final stages of testing, and soon, many spot assets will be tradable on the dApp. We are actively listening to the community feedback, so please let us know which alts you would like to trade on STFX.
GMX Token Swap
After a proposal for a token swap with GMX passed last year, with the STFX token now available, we were finally able to execute the token swap. We are proud to say that the leader of DeFi is supporting the leader of SocialFi.
STFX has committed to staking its GMX tokens for the next 2 years.
Additional Token Milestones Reached
● Listed on Coingecko
● Listed on CoinMarketCap
● Listed on DeBank (Popular Portfolio Tracker)
● Correct statistics on DexScreener
Community
We pride ourselves on the strength of the community we have built at STFX. We always ensure to keep the community up to date on all current and future changes happening. We host regular community events that we encourage everyone to take part in; Trading Thursdays, and Twitter Spaces.
Trading Thursdays is a Discord voice call and Discord stream we host every week at 17:00 UTC, where the team, ambassadors and community come together to discuss markets and STFX. Feel free to join our Discord and take part!
https://discord.gg/stfx
We typically host a Twitter Spaces every 2–3 weeks, where our team discusses everything STFX related, and answers any questions put forward by the community.
Here is the link to our latest Twitter Spaces. Please feel free to give it a listen, and feel free to come up with your own questions for next time.
https://twitter.com/STFX_IO/status/1625576660245307392
Important Links
Make sure to keep up to date on all things STFX
Twitter: https://twitter.com/STFX_IO
Discord: https://discord.gg/STFX
STFX dApp: https://beta.stfx.io
STFX Docs: https://docs.stfx.io
