Q4 2022 Tech Development Update

WingRiders
5 min readJan 9, 2023

Hey Riders,
time for another quarterly tech development update for Q4 of 2022. The development in this quarter has been flowing thick and fast on WingRiders, with many upgrades and new features and functionalities for you to enjoy and benefit from.

DAO Governance Platform

Prior to the launch of the platform, early in the quarter, we started publishing our research on current DAO models out there and different voting mechanisms that are currently used in the ecosystem. We also discussed other matters regarding the DAO rules with the community on a dedicated Discord channel and a section on our Community improvement portal so as to get as much input as possible.

In mid October we revealed our Beta voting mechanism in a Medium article and encouraged community feedback on the platform. Having looked at available solutions, we believe we have developed one of the most transparent and open systems that will be easily auditable and easy to use from a member perspective.

Following the successful launch of our DAO Governance solution, the first DAO vote took place. The community was choosing which one of the most favourite feature requests submitted into our Community improvement portal they want to have implemented the first.

At the completion of the first DAO vote, we announced the release of the new open-source repositories, helping to increase our DEX transparency by providing easier access to data.The repository serves as a foundation for transparency, with anyone with sufficient skills able to run it and verify the votes and proposals.These open-source repositories work not only for WingRiders but should also help similarly built projects.

This closed the full cycle for interacting with the mechanism, from proposal submission to voting and data validating, to give users a taste of how our solution works.

First Rider FT Utility

Over 1900 Riders who provided at least 850 ADA of liquidity across farmable pools in the Inception Farming Epoch (IFE) phase were rewarded with a FirstRiders Fungible Token (FT) as a bonus to acknowledge their loyalty and early contributions. This quarter, a functionality was added to the platform to allow the long-awaited utility of these FTs to be unleashed. Holders of the three tiers of FTs are now eligible for higher boosting rewards just by keeping their FTs in their wallet, depending on the FT’s tier. Read more here.

FARMING IMPROVEMENTS AND NEW DOUBLE-YIELD FARMS

During this period, farming evolved and brought many additions, including the Bosoting Vault feature, which allows the users to gain more rewards and adds a new utility to the WRT token. These improvements meant also various UX and UI changes.

After ADA/DRIP, the first double-yield farm on our platform, the users didn’t have to wait much longer for new partnerships resulting in new double-yield farms. During the Q4, the number of these farms increased to eight in total. The users can now get a portion of not only WRT and DRIP rewards, but also C3, NMKR, CLAP, YUMMI, XRAY, RAG, and MCOS rewards.

In order to give a better user experience with double-yield farms, the pools section was fine-tuned to make it easier for users to notice pools with a double-yield farm. The preview of the rewards users gained from farming was also adjusted to show all possible double-yield rewards, giving a smoother user experience.

TOKEN AND POOL DETAILS IMPROVEMENTS

Several community initiated suggestions regarding token and pool details were also deployed this quarter.

The first was a more granular view of price changes in token details. The primary view was extended to include options to see the changes per 1 hour, 4 hours, and 7 days. To facilitate token research, token metadata has been added to each token details page with a possibility to read and copy every part of it.

As an extension to the historical statistics of pools, a graph showing the volume of trading in pools was added. This graph gives an overview of the volume of trading in each pool.

SWAP IMPROVEMENTS

To provide a more efficient and safer swapping experience and to prevent dangerous and unsolicited results of swaps, the design of swapping was revamped. The price impact warnings were added to help users when making decisions. The time between confirming and signing a swap transaction was sped up. And to stress important swap data for the users, the expandable total fees section displayed while swapping was replaced with the price impact, number of received tokens (estimated, minimum), transaction settings, and total fees.

IMPROVEMENTS INSPIRED BY OUR COMMUNITY

Thanks to various requests and suggestions posted to our Community improvements portal we were able to improve our DEX in many ways.

One of them was supporting the ability to see live changes in the tokenomics section of the UI. The values in categories of the tokenomics page are now updating fully automatically in all three states.

Next one was the possibility to save preferences of swapping and liquidity providing/removing transactions for future purposes.

Others covers areas like token details page, voting, or general interaction with our DEX. For example, the occasional issues with the disappearance of pool statistics are gone. The behaviour while scrolling and moving to other pages was fixed together with tab components on tablet-width devices. The token details are from now on accessible also after clicking on the token icon next to the pool name, just like the pool details can be visited after clicking on the name of the pool in the list of pools containing a viewed token. We improved the voting section, so the users can see their votes in active or past voting straightforwardly. Using WingRiders with an Eternl wallet has become much faster and smoother by caching some wallet API calls.

DEVELOPMENT OF NEW FEATURES COMING IN 2023

During this last quarter, we also focused on initial works on other ways how to benefit our users and make their usage of our DEX easier.

Given the important role stablecoins play in crypo markets, and the arrival of these assets on Cardano, we have started with development of specialised StableSwap pools, inspired by Curve Finance, that make swapping between two assets of the same value, such as two different USD stablecoins, a more efficient.

We also partnered with Indigo, who introduced synthetic assets to Cardano, to bring an opportunity for the community. This partnership allows the user to gain INDY rewards on Indigo protocol by depositing their LPT tokens there, enabling these deposited tokens to increase their boosting rewards on WingRiders. LPTs eligible for this are for the ADA/iUSD and ADA/iBTC WingRiders pools.

Hopefully this summary helps you understand some of the key developments in Q4 and gives you a better insight into the work the team are continuously involved in.

WingRiders

Stay in touch with us!

Twitter-> https://twitter.com/wingriderscom

Discord-> https://discord.gg/t7CdyhK8JA

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WingRiders

Secure & fast, DAO operated, cutting edge DEX on Cardano. Supporting HW wallets and direct Android use & giving liquidity providers up to 6 sources of gains.