Laying the Groundwork.
I hope summer has been treating you all as well as it has us. Ballast has been on a roll development-wise, and we are gearing up for a soft launch sometime in the next quarter — yes, we are incredibly excited about it.
The initial launch will be relatively paired down and consist primarily of depositing capital into a pool that optimizes that asset’s yield across a couple of DeFi platforms. Common. (Test invites will start going out soon to community members who signed up on our homepage.)
But the real magic happens behind the scenes. Ballast’s contracts have been architected to allow for relatively seamless integration into additional assets and DeFi platforms, and more importantly, for pools to create their own strategies — but before we run, we need to crawl.
As we gear up for the beachhead launch- we also want to set expectations. This phase’s objective is to onboard enough users and capital to start testing our technology and strategies in a real-world setting. While we plan to make this open to anyone in our targeted territories of operation, the beachhead launch goals will be to learn, and optimize before expanding the platform to include additional protocols, features, or implement community and token spend features.
The last step in our launch will be what we believe makes Ballast genuinely unique, a programmatic bridge to TradFi in the form of an open API for fintech developers to link latent capital to Ballast.
To this end, we are close to agreements with a Bermudian bank for the fiat on/off-ramp and have a partnership in the works to bring DeFi APYs to retail customers in Mexico — in collaboration with a Mexican FinTech license holder. Partner development continues in Europe. Unfortunately, we have hit the brakes on developing any relationships in the U.S. due to regulatory uncertainty.
We have also started a community development initiative this week. Discord, Telegram, and Reddit channels are now live. We are doing what we can to build the seed community and understand that someone with experience in crypto community building is needed and is searching for this person. Any leads are welcome — and if you can, let us know on either Telegram or Discord — by following the links below.
More from the team soon.