Community Call Notes — 1/28/22

Notes from Community Call on January 28, 2022, at 1pm EST on our Twitter

Listen to the community call on Terraspaces!

Announcements:

Gov Staking V1 Live on ApeBoard

Webapp now compatible with XDEFI Wallet

• You need to have XDEFI selected as your default wallet, then you will see the option to connect.

Discord Leveling Live

• Ranks: Plankton, Minnow, Tuna, Dolphin, Narwhal, Shark, Killer Whale, Grey Whale, White Whale
• No financial benefit to leveling up, simply to reward loyal discord members with higher ranks

Bug Fixes

• WebApp showing up as blank page from caching problem
• Price graph showing up backward

Oak Security Preliminary Audit Finished — Jan 25th

• Very happy with the results
• Minor fixes
• Auditors happy with the architecture
• Oak will publish a full audit report in 3 weeks
• Biggest threat is we are very reliant on Anchor

Certik Audit Preliminary Results Expected — Jan 31st

• Impressed with code quality, best in recent months
• Surprised they haven’t found any major issues, so 3 other engineers are doing a final walkthrough
• A preliminary report set for Monday, Jan 31st

Bot Strategy Offense & Defense

Defense

• L1 bots running for peg protection
• To clarify, we are protecting the peg on the Terra DEX’s, TerraSwap, and Astroport, so at the core. We’re currently not protecting Curve pools, Kucoin, or CoinGecko, this is important to understand.

Offense

• Multidex Bot
• Multiple instances

Bot Performance

• Made some of our largest and most profitable trades during the recent downturn
• We also got to see a lot of what our competitors are doing and learned a lot during this last crash. We are learning every crash.
• For now, our bots are playing defense, we are building our infra for offense
• Bot competition on Terra is currently quite fierce. There are 1 or 2 big players with established infrastructure that are catching most of the opportunities. These are not individuals, they are well-capitalized trading firms.
• Twitter Thread from incinoman, data analysis of UST arbitrage by flipside crypto. Their research was accurate, their findings are consistent with what we’re seeing as we test and develop our bots.
• The issue is not the code, our code is clean and fast, however, we are still improving it, it is a network and infrastructure issue. If you want to be the one that scores, you need to be closest to the goal.

Bot Improvements

• We are still building out our infrastructure, we have a plan/map, we got it from watching the competition
• Bot infrastructure will be where we want it probably in March, then we will start to see yield increasing
• GO lang bot is ahead of schedule

Alpha:

• UST vault which is live on mainnet and we are running internally spiked to 68% yield during the latest drawdown. Disclaimer, there is team funds in the vault, when we open it publicly we anticipate much more deposits, the yield flattens as more deposits come in.
• We are also quite excited about our “Hiding Game” strategy. Large traders (whales) can come to our front end to make sizable transactions and we can guarantee the lowest slippage and they earn money back as they get a portion of the arbitrage.
• This will allow us to control the arbitrage, meaning we can not get front run.
• If you were doing a $250k trade out of Luna, would you not do it on whitewhale.app if you got $1k back? We believe most big traders will utilize this.
• Launch Date: it will depend on what exactly is in the Certik report. We are hoping to have the UST vault live before the next community call on Feb 11th

Q&A

We apologize for not being able to get to every question. We recommend once you request to speak that you do not re-request because Twitter will put you at the back of the list to speak.

The next community call will be on 2/11/22 on our Twitter.