To provide transparency on our progress we decided to provide a bi-weekly update on the LICX progress. Here is what we accomplished in the third sprint of LICX development.
Summary
LICX is a token that represents staked ICX this way users can transfer ICX to another wallet while still receiving the rewards for staking. This week we have focused on frontend development and redesigning some SCORE parts to make it more scalable and less vulnerable. You can read the previous bi-weekly update here.
Tasks that we have completed in this sprint:
- Display ICX and LICX balance
- Mapping of the wallets (partially)
- Distribution of the rewards (partially)
Display ICX and LICX balance
More frontend development has been made and we are getting closer to presenting a first iteration of the web application that will have the basic functions of the LICX available.
Mapping of the wallets
We are still looking for the most efficient way to implement the mapping of the wallets as this might dramatically improve the user experience and scalability as well as reduce unnecessary transaction fees that could occur.
Distribution of the rewards
Reward distribution is tricky to implement because the ICON network distributes rewards with delay of two terms (about two days). Since the ability for SCORE to interact with the system contract isn’t available at this moment, we have been using a script that fakes reward distribution to help us develop further and test. We are making sure that we are ready when the update will be deployed that we can get LICX ready to be used as soon as possible.
What’s next?
After each bi-weekly sprint, we also discuss what the next steps should be. We will be reporting them in the reports as well so that the community can follow what we intend to accomplish.
Mapping of the wallets (continuation)
We weren’t able to finish all the tasks needed to implement the mapping of the wallets as this is a big part of the SCORE’s scalability. We plan to have the optimal solution ready in the next sprint.
Distribution of the rewards (continuation)
Reward distribution is being tested to provide the least amount of delay for users when receiving rewards as well as how they impact the initial distribution of LICX when a user wants to swap ICX with it.
If you have any questions join our telegram group we will gladly answer them.
