Tower Finance

BOOOOM!

Finally, Tower begins on Feb 14th, at 6 am UTC. (Yes, this is how web3 ppl celebrate valentine’s day. 😘 Much love!). Contracts have been audited by Entersoft (The audit report will be released soon), and we highly recommend you read through the Gitbook docs, medium articles, and other information also in the 🔍│learn-tower channel of our Discord server, for your deeper understanding of its mechanism.

Love ain’t easy, nothing good comes easy, so please put your efforts into learning what delights & risks can come with it. Wishing you all the love in the world this Valentine’s Day!

Will you be my valentine ser? I’ll wait you at the top of the Tower…🗼💃🍹🧊

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Entering alpha testing

After wrapping up contracts and UI integration, now we are getting ready to test. Since most of the V2 functions are new, the test should be essential. This test will be done as the same environment with the real one. Through this test, we can expect to figure out not the errors of functionality but some vulnerable points. The test will be proceeded for about 2 weeks.

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Wrapping up contracts, beginning UI

In this week in development of Tower Protocol, we are wrapping up the smart contract code with tons of tests. Yay! We takes security seriously so we are heavily focusing our time to minimize the possible loophole in the contract code. In addition, we are beginning to work on the web UI. The goal is to reduce UX friction interacting with the contract, not only to make it more intuitive, but also to prevent erroneous user input. However, we wouldn’t want to just rewrite everything and make a huge revamp because it can cause overhead for the user to get familiarize with the new version. That is another friction we want to avoid. Next week, we will entering alpha testing phase after we do contracts and UI integration.

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Profit Manager

This week we have been working on profit manager. Its job is to collect profit of Tower Protocol and distribute back to CUBE staking pool. The sources of profit tentatively include fee collector, collateral investor, arbitrager and penalty manager. Within the total amount of CUBE from the profit, 80% of it will be distributed to staking pool and 20% will be burnt. We expect the burning process would reduce CUBE total supply. In the future, this 20% burn ratio can be adjusted based on the voting decision of CUBE stakers.

We’ll be back next week!

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Tower Finance

Tower Finance

Fractional-Algorithmic Stablecoin Protocol