Detailed Product Roadmap
Following a successful token generation event with ThorStarter and Balancer LBP, the team has been busy working on the core offerings of BNPL Pay Protocol. The first deliverable was liquidity mining to enable our token holders to provide BNPL-ETH liquidity in SushiSwap and be rewarded with BNPL tokens (and trade fees). Less than a month into the LP Farming and over $1.2m of BNPL-ETH liquidity has been staked within the BNPL farm — nearly 50% of all SushiSwap BNPL-ETH LP tokens. An additional $623k of liquidity has been staked in the SushiSwap BNPL-XRUNE liquidity pool.
🟣 BNPL-ETH Farmed Liquidity:$1.2m
🟣 BNPL-ETH SushiSwap Liquidity:$2.4m
🟣 BNPL-XRUNE SushiSwap Liquidity:$623k
🟣 Total BNPL liquidity on sushiswap: ~ $3.1m
🟣 Current APR: 250%
2022 Q1
The first quarter of 2022 will be the busiest yet. The full platform will be going live, with the first passive banking node that allows single asset BNPL staking and BNPL emissions for lenders providing USDT to the node. Following the launch of the main-net product, we expect our first Banking Node operators to bring their nodes online and start offering uncollateralized loans to applicants. Other things to look out for include our redesigned website, a slew of marketing and high profile exposure and integrations with other protocols.
- BNPL Pay
◾ A new refined website - Hacken Smart Contract Audit
◾ Full audit of the protocol - Immunefi Smart Contract Bounty
◾ White Hat contests for hacking the protocol
◾ Sizable bounty to encourage users to poke at flaws in the design - Testnet deployment
◾ Run mock simulations of all functions - Onboarding real Banking Nodes
◾ Deploying the first user run Node(s) - BNPL Web 3.0 Application
◾ First version of BNPL Pay (Beta)
◾ Limited functionality for DAO operation
◾ Limited to USDT stable coin deposits / loans
◾ Borrowers must interact via Metamask to request onchain loans
◾ Limited support for Fiat/Crypto conversion (offered via third party partners) - Banking Node MVP
◾ Stablecoin depositing (AAVE yield farming)
◾ Lender emissions (lender rewards)
◾ Staking rewards available to BNPL holders who stake
Team BNPL Pay intends to carry on the momentum from our primary product launch with a strategic partnership with an institution-grade liquidity network. The integration will ensure that all capital across both networks achieves the highest level of utilisation and yield, maximising returns and minimising risk. Whilst USDT remains the most commonly transacted Stablecoin the team recognises the opportunity to expand asset offerings and provide a wider range of products to service the needs of protocol users.
- Institution-grade liquidity network partnership & integration
- Stablecoin Expansion
◾ DAI, USDC etc
2022 Q2
Leading into Q2 of 2022, we are focusing our efforts on creating a targeted lending product that integrates and benefits the ThorFi ecosystem. More details to come as we approach this date.
- Native BNPL product for ThorFi — lending direct to consumer
- Cross Chain Expansion
◾ Token Bridge
◾ App integration
2022 Q3
The BNPL Pay App v1 provides all the core functionality BNPL intended within the whitepaper, but it doesn’t mean it’s time to stop there! A new suite of features is planned to enhance the protocol and widen the accessibility scope and opportunities for our community. Furthering our mission to connect the worlds of CeFi and DeFi, more functionality around merging the off-chain and on-chain features will be implemented alongside chain-to-chain interoperability.
- Version 2 of BNPL Pay Protocol
◾ Off-Chain borrowing requests that don’t require Metamask
◾ Improvements in Lending architecture
◾ Additional assets to borrow/lend
◾ Banking node governance
◾ Cross-chain liquidity
◾ Fiat / Crypto conversion integration
2022 Q4
Going into the final quarter of 2022, we are focusing our efforts on a full DAO structure for the protocol. Giving control to BNPL holders in determining the governance and direction of the BNPL Pay protocol.
- DAO Voting
◾ Request Submission
◾ Banking node BNPL Bonding Quantity
◾ Additional Asset Types
◾ Cap on # of nodes
◾ Rates Adjustments
◾ Coins provided for lending purposes — E.g LINK, BUSD - ThorGuard NFT Exclusive
◾ Owners of the ThorGuard NFTs have access to an exclusive BNPL Pay Application experience with a Thorguards skinning of the platform 🔥
Disclaimer:
The team is focusing the entirety of its efforts on delivering the product we have promised to the community. We strive to adhere to the roadmap timeline, but as this is a highly complex and ever evolving space, we cannot guarantee that every timeline will be met as described.
We thank everyone for their patience and trust and hope to exceed and delight the expectations of all current and future BNPL Pay participants, customers and investors.
Updated Dec 2021
BNPL Pay Useful Links
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