Delphi General Update: 4 of N, October 7

Akropolis
Akropolis
Oct 7, 2020 · 7 min read

Initial Delphi governance launch, development progress & updates, roadmap, community and so on — read the update in full to stay up to date with all things Delphi! Also, do check out the previous update — it was an important one.

1-Minute Summary

  • [done] Governance launch on snapshot.page is live;

UI Challenges and Feedback Requests

  • How can we improve communication in terms of content, channels and form, periodicity?

Product Update

We wanted to start with a pretty important note: development, both smart contracts and frontend, takes time. Until a product is more or less finalised and stable, there are no “simple” or “fast” things to implement. Smart contract upgrades, design, layout & adaptive versions, connecting frontend to smart contracts, test coverages on testnet & mainnet — there are a lot of things to complete before release one or another feature/update.

Let’s see main the updates coming up in October:

Smart contracts development

  • [in progress] Smart contracts upgrade and refactoring. As we communicated previously, we were building a complex product at a pretty high pace (2 months from idea to launch). That means lack of optimisation & documentation on the smart contracts side. We’re completing refactoring at the moment (upgrading contracts & modules) & covering everything with tests. We needed it to move forward with product development as a whole.

Vaults Highlights

Vault types:

  • Stablecoins: Simple stablecoin deposits with low gas.

Architecture:

  • Vaults architected to be modular with interchangeable risk / strategies;

Potentials:

  • Dedicated thematic vaults based on risk profile.

We actively encourage contributions from our community members on Delphi forum and in #d-feature-requests channel over the Discord.

Sneak peek of Vaults page

UI Updates & Fixes

At the moment, we’re working on the following major points:

  • [in progress] APY methodology.

Initially, we were calculating APYs based on deposit/withdrawal events registered on smart contracts level. This allowed us to calculate yield earned in the pool which was recalculated into the APY. While it’s a working way for APY calculation, it showed pretty high APYs for some pools & was confusing people.

We’ve made an in-depth check this week and decided to change the methodology to the following: APY will be based on YieldDistribution events happening over the contracts. We have already updated the methodology in the UI & we hope that it will decrease the number of questions connected to APY.

Next update will happen in the coming weeks — all farmed tokens (AKRO, ADEL, CRV, etc) will also be included in the APY calculation thus showing overall yield for each pool with no need for gsheets.

  • [in progress] Harvest page.

Since we introduced AKRO & ADEL rewards vesting on Sep 23, we continue to work on Harvest page update. This includes:

  • Including vested rewards into the interface. Design, layouts, adaptive versions, connecting data to frontend. It’s a big scope of work & we aim to complete it in the coming week.
New Harvest page sneak peek

Governance update

Some of you might have already spotted the new tab in the Delphi menu — Governance. Let’s dig deeper into it!

High-Level Summary:

  • Initial Governance will be done through a Snapshot.page;

What can I signal my vote on?

  • Delphi product features and integrations;

How do I vote?

  • Go to the Akropolis Delphi space on Snapshot (you can do it through Governance tab on Delphi);

Please check Snapshot docs for more information about creating proposals & voting on proposals.

Governance Workflow:

  • All proposals should first be discussed over the governance forum. That would give all governance participants an ability to understand all pros & cons before voting.

Who can create or vote on proposals?

  • Only AKRO & ADEL stakers on Delphi can create or vote for proposals. This way we ensure that only active users have a say in Delphi initial governance.

All the info is available on our wiki here — if you have any more questions, we welcome to suggest improvements to the FAQ.

Community update

Following our first Community was last month and from next week , we will start regular 1-hour community calls every second Wednesday at 1300 UTC to accommodate both Asia and US time zones, led by one of our community leads — you know him under the name Alex.eth in Discord.

To streamline all community communications and let the team focus on development:

  • For any questions: please submit them via discord general channel with hashtag #communitycall.

Key Dates

  • Wed 1 (Oct 7): Bi-weekly rewards distribution;

Please note that we will start automating bi-weekly distributions after the initial backend development is completed (no earlier than December as per our roadmap); all other vesting implementations mean higher gas fees for users and/or additional UX friction, as well as 1–2 weeks of development concentrated only on vesting.

Akropolis

The Financial Protocol for the Informal Economy