AgaveFinance
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AgaveFinance

Agave Development Update

The information in this article has a scope to answer some questions and expectations we’ve been seeing from $AGVE token holders and potential investors.

For those that don’t yet know what Agave is they can read more on that from the Intro to Agave Medium article.

With the token launch upon us there are a lot of ideas and decisions to be made on the table. On the upcoming ideas and proposals it is expected that the $AGVE token holders will need to decide on, that includes 1hive members too as many of them have $AGVE tokens, this is the benefit that 1hive community brings and why it was included in the token distribution as they already have experience in running the 1hive DAO and they are expected to help.

This post is intended to provide a status update and brainstorm a potential path for the Agave DAO project.

Project Development Status

Backend contracts — complete. Needs to be audited. Any findings from audit may need to be implemented

Contract audit — We are pleased to announce Chainsulting is performing the audit. The anticipated completion date of the audit is May 1st 2021. We will update as we are able.

Retribution payment — Have been paid for details see retribution proposal

Subgraph — There was a claim that there was a div/error. We are trying to fix the error but are unable too at the moment as it takes time to sync the subgraph.

Front end — Testing on rinkeby. Subgraph pool data is mock waiting for subgraph to be completed — withdraw, borrow, repay all work and can be tested.

Testing on Rinkeby — Anisoptera ( main backend dev ) contacted 4 devs that are interested to work in the team but we need subgraph completed first.

Looking at the code we noticed that we wanted to improve the Security Module implementation, for better integration with the the Agave DAO. We will need to develop this new contract. In the meantime we can deploy a staking incentive of 1000 agave (1%) over 1 year (same as Aave).

One Potential Outcome for the Agave Roadmap

Prior to Agave Beta Deployment

We will need funding for some of the following but not limited to:

  • Agave drip function
  • Security/bug bounty program
  • Agave deployment marketing
  • Agave documentation such as wiki agave wiki
  • various bounties for token listing
  • Dev work that was needed on sub graph and contracts
  • Audit

Some future funding:

  • safety module may include a staking incentive
  • additional marketing in preparation for an airdrop
  • token sale 1 and 2 plus marketing around it.
  • Funding for next version changes which may include integration of celeste, multi-token treasure, changes to front end, etc.

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Agave protocol rewards depositors with passive income and lets them use their deposit as collateral to borrow the desired cryptocurrency at affordable costs. $AGVE is a native token that provides holders with DAO governance rights. $AGVE can also be staked for insurance.

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Agave Finance

Agave Finance

https://agave.finance/ Agave Dao is a money market Lending and Borrowing protocol on the xDai network.

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