WingRiders Q1 & Q2–2024 DEVELOPMENTS

Hey Riders, it’s time for another semi-annual Tech development update for the first half of 2024. This period has been packed with significant advancements, including major upgrades, new features, and enhanced functionalities for you to enjoy and benefit from.

Cardano has had an eventful first half of 2024, setting a robust foundation for our development efforts. The Valentine upgrade in February provided access to cryptographic primitives, enhancing security and interoperability. Voltaire and Sanchonet marked the dawn of true decentralized governance, enabling on-chain voting and treasury management. Looking ahead, the Chang upgrade promises further technical improvements, enhancing scalability and performance. Despite these advancements, ADA experienced significant price volatility, peaking in March before entering a downturn, reflecting the broader market trends. These ecosystem developments underscore the dynamic environment in which WingRiders continues to innovate and grow.

Roadmap Update

At the start of 2024, the roadmap was updated to reflect our ambitious plans for the year. You can check out the detailed roadmap on our website to see where WingRiders is heading and the exciting developments we have planned.

Catalyst Funded Projects

Through open-source development fueled by Catalyst, we secured funding for our project “Guide to Getting Your Project Recognized in the Tier 1 Crypto World.” This project aims to provide valuable resources and strategies for projects looking to gain prominence in the competitive crypto space. You can find it here.

WRT Utility: Special Holder Tier for Launchpad

We introduced a special holder tier for Launchpad participants. If you hold 1000 WRT in the Boosting Vault one epoch prior to a launch, you will receive early access to contribute to first-come, first-served (FCFS) launches. This initiative is designed to reward our loyal WRT holders with exclusive benefits. Read more about it here.

Variable Batching Fees

In response to the rising ADA price, we implemented variable batching fees to support smaller players by lowering their swapping costs, and add a competitive edge to WingRiders DEX. Thanks to this change, we could see an increased trading volume through DEX aggregators, which is benefitting WingRiders liquidity providers. The new fees are now live and are structured according to the swap value:

• 0.85 ADA for swap value <= 250 ADA
• 1.5 ADA for swap value <= 500 ADA
• 2 ADA for swap value > 500 ADA

Learn more about the new fees.

New Home Page Features

Our new homepage has been revamped to provide a more engaging and informative experience for our users. It now showcases several key features designed to help you quickly access the most relevant and high-performing options on WingRiders:

• Hot Tokens: Stay updated with the top value gainers in the market. This section highlights the tokens that have seen the most significant price increases, helping you spot potential investment opportunities quickly.
• Top Farms: Discover the farms offering the highest rewards. This feature allows you to easily identify which farms are currently providing the best returns on your investments, enabling you to maximize your yield farming efforts.
• Top Pools: View the pools with the highest trading volumes. By focusing on these high-volume pools, you can find the most liquid trading pairs, ensuring your trades are executed efficiently with minimal slippage.
• Top Tokens: See the most traded tokens in any pool. This section lists the tokens with the highest trading activity, giving you insights into market trends and popular assets within the WingRiders ecosystem.

These new homepage features are designed to enhance your user experience by providing easy access to crucial information, helping you make informed decisions and optimize your trading and farming strategies. Read more about it here or see it for yourself by visiting our homepage.

DEX V2 Smart Contracts

We are thrilled to announce the completion of our DEX V2 smart contracts, marking a significant milestone in the evolution of WingRiders. These advanced smart contracts introduce a suite of features designed to enhance user experience, improve transaction efficiency, and offer greater flexibility. Here’s what you can expect:

• Zap In/Out Functionality: This feature allows users to add or remove liquidity using just one token, simplifying the process of liquidity provision and withdrawal. It eliminates the need to hold and balance both assets in a pair, making it more convenient for users to participate in liquidity pools.
• Additional Fee Structures: The new smart contracts support dynamic and additional fee structures. This flexibility ensures that fees can be adjusted according to market conditions and transaction sizes, making it fairer and more adaptive to different trading scenarios.
• Routed Swaps: This feature allows users to swap between two tokens even if there isn’t a direct pair available or if it’s more cost-effective to go through a middle token. For instance, if you want to swap Token A for Token C, but there’s no direct pool or the price is better through another token, the system can automatically swap Token A for Token B first, and then Token B for Token C. Additionally, users can select which middle token they want to use for the swap, and the system will display the estimated final value of the swap, ensuring you get the best possible outcome
• Chained Requests: This capability allows multiple transactions to be batched in the same block, significantly increasing the throughput of the DEX. It reduces the time taken for transactions to be confirmed and executed, enhancing overall efficiency.
• Smaller and Cheaper Transactions: By optimizing the way transactions are processed, we’ve reduced the size and cost of each transaction, making WingRiders more accessible and economical for users.
• Higher Throughput: The improvements in our smart contracts allow for a higher number of transactions to be processed simultaneously, ensuring that the platform can handle increased traffic and trading volumes without compromising performance.

Proof of Concept (PoC)

We’ve also completed a Proof of Concept (PoC) for our DEX V2, showcasing the capabilities and improvements of our new smart contracts. This prototype allows users to explore the enhanced functionalities that will soon be available on the mainnet. With the PoC, you can browse liquidity pools, provide liquidity, and perform token swaps in a simulated environment. This gives you a firsthand look at the streamlined processes and efficiency improvements we’ve implemented. The PoC serves as a testing ground where we can gather user feedback, identify any potential issues, and make necessary adjustments before the full deployment. Don’t worry, full feature testnet will be available soon. Check out the PoC here.

The first half of 2024 has been a period of remarkable progress and innovation for WingRiders. We remain committed to driving the development of the Cardano ecosystem, bringing new features and technological advancements. Stay tuned for more updates as we continue to enhance the platform and provide new opportunities for our community.

Thank you for being part of our journey. Join us to get involved and stay updated on all our latest developments.

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