Sphere Monthly Report — EM 3
Bridging Chains and Building Community
As 2023 draws to a close, the staff at Sphere Finance pauses to reflect on a year marked by continued innovation despite challenging market conditions. Furthering the team’s track record of continuous building, the Sphere Ecosystem persevered by doubling down on our core values of decentralization, community empowerment, and striving to provide true utility.
This final edition of the Sphere Monthly Report for 2023 offers a glimpse into that journey. We’ll explore new community-building initiatives, an enhanced user experience, and a holiday surprise for our community members.
Without further ado, let’s dive in!
Introducing Community Awards
Kicking things off, Sphere hosted our Community Awards event inside of our Discord celebrating members who epitomize our ideals of knowledge sharing and collective empowerment. Spanning thought leadership to inspirational support, winners will receive recognition across five categories:
- Aged Better Than Wine: For unearthing the timeless gems inside of our community that have aged like fine wine
- We Will Miss You: A heartfelt message for members who are and will be missed
- “I Told You So”: Called many accurate predictions
- Strongest Supporter: Constant source of encouragement and camaraderie
- Masterful Mind: Next-level thinker bringing valuable perspective
We congratulate all nominees and winners while expressing immense gratitude to our members. Without this passionate, engaged community, Sphere could never have navigated 2023 nor continue trailblazing into the future.
Winners will be announced today in our community Discord server, so don’t forget to join!
Boosting Community Engagement
In that same vein, this month Sphere introduced an exciting new Engage category on Discord. This integration incentivizes members to amplify X posts and attend Spaces events through a points-based reward system.
Participants earn credits for social media interactions which translate into exclusive community perks, awards, and prizes. These include token gifts, raffle giveaways, and more!
By gamifying real-world amplification, Engage helps broadcast Sphere’s message to a wider audience while empowering deeply committed members. Let your voice be heard and start racking up points today!
Updating User Experience
Speaking of the future, major front-end upgrades have been implemented, which have enhanced cross-platform workflows. Beyond a visual overhaul, Dyson 2.1.0 introduced increased mobile compatibility along with handy usability touches like simplified navigation, informational tooltips, and instant data updates.
Searching, managing, and sharing positions now prove quicker than ever. Descriptive vault tags give clarity into strategy mechanics. Pages load rapidly courtesy of a blazing-fast multi-call architecture. Simply put, we oriented the entire design around user needs for a frictionless and intuitive encounter.
The development team wasted no time building upon that foundation. Just a day later, version 2.1.1 launched featuring a host of commonly requested community suggestions. Users gain on-demand insights into yield breakdowns including USD values and $SPHERE amounts. One-click copy functionality lets you easily share exciting vault discoveries.
We’ll continue this agile development cadence responding directly to user feedback. By perfecting a best-in-class experience that feels uniquely yours, Sphere strengthens its position as the go-to hub for simplified DeFi engagement.
Prioritizing Security and Responsibility
While ambitious integrations proceeded, security and accountability remained fixed priorities. Upon receiving vulnerability disclosures, the Sphere development team instantly communicated potential risks and implemented patches.
We temporarily paused Dyson and Preon functionality related to the affected wallet connector package. After the issue’s resolution, our team rigorously tested for exploits before reopening access.
Transparency proves vital when evaluating developer competence. We pledge continued diligence monitoring threats, conveying status updates, and applying fixes that entirely mitigate dangers before restoring services. Users come first always.
Rebuilding Data Reporting: Q1-Q3 Treasury Report
Sphere also delivered its much-anticipated Q2 Treasury Report after rebuilding manual tracking processes requiring months of meticulous data reconciliation. We reconfigured tools to compile accurate records, enabling streamlined production of future editions.
The release of the Q3 Treasury Report quickly followed, allowing our community to alayze and digest the data from both quarters in one go.
The reports analyze income, expenditures, token emissions, and other statistics while assessing performance given the turbulent market climate. Sphere strategically stockpiled stable assets as a hedge against volatility, minimizing risk compared to less conservative projects chasing unsustainable yields.
While the journey spanned difficulties, challenges incite growth. We matured from short-sighted speculation toward sustainable business operations. Future communications will unveil more details around staff restructuring, redundancy planning, and the roadmap guiding us into the next epoch of DeFi.
Wrapping Up An Eventful Year
As we conclude a remarkable 2023, Sphere appears poised to carry positive momentum into the new year. Despite the harsh external climate, our protocols not only survived but expanded ecosystems, formed new partnerships, upgraded products, and coalesced as an empowered community.
While challenges inevitably lie ahead, the roadmap seems bright courtesy of real-world utilities like professional on-chain asset management, tokenized trading, yield optimization, and decentralized lending/borrowing with stablecoins.
We hope you’ve enjoyed these regular reports offering transparency into Sphere operations. As always, we welcome your thoughts and suggestions toward improving communications and better serving our remarkable members.
Here’s to an incredible 2024 furthering our shared vision of an open, inclusive financial system! We’re so grateful you’re along on this journey with us.
Onward and upward,
The Sphere Team
