Betoken Development Update — November 2019
Upcoming features in the smart contract upgrade, Fortmatic, Portis, and WalletConnect integration, and more!
Hey there, this is Zefram from the Betoken team. In this post I will update you on all the upcoming features of Betoken. Here we go!
Smart contract upgrade
New features
- We will introduce a new mechanism for punishing huge losses more severely. Investments with losses below 10% will lose the normal amount of Kairo, whereas investments with more than 10% losses will lose a lot more Kairo as the losses increase. Investments with losses above 25% will lose all of the staked Kairo. (Details of this mechanism is still being worked out and likely will change)
- DEX.ag will be introduced as an alternative to Kyber Network for making basic orders. DEX.ag provides better rates and more liquidity by splitting a trade across several different exchanges (including Kyber, Uniswap, Bancor, Radar Relay, and more).
- We will be able to purge any manager who has not made an investment in 2 cycles (60 days) from Betoken, a change from the current 6 cycles (180 days) threshold.
- The gas cost of making Kyber trades will be slightly improved.
- The gas cost of creating Compound margin orders will be greatly improved, thanks to the use of EIP-1167.
- We will upgrade to Fulcrum V2, which has lower slippage and better gas cost that V1. We will also restrict Fulcrum orders to only ETH and WBTC, since other assets have low liquidity.
Bug fixes & maintenance
- Transition from single-collateral DAI to multi-collateral DAI
- We will give the Betoken team the power to list new Compound tokens as available for trading as they become available.
- Added function for selling unsold Fulcrum orders after the end of each cycle.
- The decimal bug in selling Fulcrum orders has been fixed.
- The bug in selling Compound orders has been fixed.
- Buying a manager account will be restricted to the manage phase, in order to prevent an attack that allows generating free Kairo.
- The 0 commission bug has been fixed.
Fortmatic, Portis, WalletConnect, Dapper, Authereum integration
Betoken will integrate with Blocknative V2 onboarding, providing support for more login options. This will be launched during early November.
- Fortmatic allows users to log into dApps using their phone number, without the need for special browsers or browser extensions.
- Portis allows users to log into dApps on any device, without the need for special browsers or browser extensions, and provides the option of loading your wallet with ETH using your debit card.
- WalletConnect is an open protocol for connecting desktop dApps to mobile wallets using end-to-end encryption by scanning a QR code. Opening up a whole world of Dapps that were once only available to Metamask. The user can interact with any dApp without comprising their private keys and will be notified to sign any transaction requests on their mobile. It is supported by Metamask, Trust Wallet, Argent, and many other mobile wallets.
- Dapper is a desktop wallet browser extension geared specifically towards blockchain-based games. It provides free transactions, and allows you to easily manage your ERC-721 collectables.
Announcement regarding a bug with selling Compound orders
Our team has discovered a bug that in some cases prevents managers from selling Compound orders. We have patched this issue in our upcoming smart contract upgrade. Unfortunately, this bug has caused one of the managers (0xd16aa39e2812fa1c9dae6ca4eee0a11dee262a9a) to lose more than 600 Kairo in the October cycle, and caused an equivalent amount of DAI to be locked up in the order. We deeply apologize for this issue. We will reimburse the lost stake to that manager, and try our best to recover the funds locked in the order and return it to the Betoken fund.
