In this space we'll share updates with our community.
Weekly Update #19
Hi, community!
Building, building, building…
New app is LIVE
Last Tuesday, August 30th, we migrated our website to our brand new backend. We also included several UI changes in most flows. This is all part of our launch plans and the idea is to battle test the whole solution before we restart promoting it.
We really appreciate your insights and experience with it. Feel free to share them through whatever channel you prefer.
800 followers on Twitter
We recently reached the 800th follower mark on Twitter with 100% organic growth. We appreciate all of you that are part of our nascent community.
Let’s shoot for 1000 followers now!
Exciting stuff coming up next week
This week and the next we’re building several exciting stuff for our product. Here’s a list:
- Beefy integration is coming! It’s already live on our testing branch.
- A brand new way to assess your investments: Basket P&L using CAGR calculations in USD
- Single source of APY numbers (!!!)
- Asset and basket categories to facilitate navigation
- Mobile version of Create and Edit flows
And more! We’ll have more say about each of those in our next update. Perhaps next week we’ll need two updates… :)
— x —
That’s it for now!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #18
Hi, community!
We continue our product build-up prior to The Launch.
In the meantime, here is some news around our protocol.
Support for Gnosis Safe
We recently added support for Gnosis Safe within DeFi Basket. This is a big deal for regular Gnosis Safe users since managing transactions, especially those related to investments, can be very time consuming. With DeFi Basket, any Gnosis Safe user will be able to swap, invest and stake their assets with a single transaction. A huge improvement and a big use case.
Kiwi Basket is coming as a featured basket
We continue fostering our partnership with Techemynt, the issuer of NZDS. For our launch, we’re including their Kiwi Basket as part of our featured baskets. They even created a funny and cute logo for it, as you’ll see. :)
The allocation, as expected, is heavily reliant on NZD (50%), which is paying today 11% APY. They are also including JPY and EUR, each with 25%, to compose their investment strategy.
Pre-launch plans
We don’t get tired of saying that our new product is heavily focused on reliability and data accuracy. The first piece is almost done, having integrated the new backend and our new routing algo. And it is looking very strong.
With that in mind, we decided to ship it into production prior to our launch, most likely in the coming days. This will allow us to assess usability and real world behavior, delivering a more mature solution when our actual launch happens.
In parallel, Raph is conducting interviews with some of you to explain our new product and collect feedback. Feel free to book some time with him.
Product sneak peek: New Create / Edit Flows
Last week we discussed the new Direct Deposit functionality. It is a quite cool way of using whatever asset you have in your wallet as deposit funds for DeFi Basket.
This week we’ll show something that has a strong potential to become the most beloved feature of our product. We redesigned our Create and Edit flows, as you can see below.
On the left hand side, we included a card that stores the editable basket allocation. We're also estimating APY of the finalised basket, based on our own numbers. In the end of the card we positioned the buttons to Create or Edit basket. The whole idea was to make it very similar to the basket page that you already know.
On the right hand side of the page, we included a big table with all assets available in DeFi Basket. We now have space to display a lot more information, like TVL and category (in the future). You may also filter the table contents by search or by protocol.
Best of all is that all the table columns are sortable, so you finally are able to sort all assets by APY (as you can see below). It’s really easy!
Finally, whenever you’re done creating your allocation just click on the Create basket button and the standard creation modal will show up. There, you’ll be able to do everything we showed last week, like direct deposit or check how much in fees you're paying.
We hope you like what you see here in these weekly sneak peaks. The best part is that all this is coming with a strong backend and routing algorithms, that should keep our product running smooth and safely.
— x —
That’s it for now!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #17
Hi, community!
A lot more news this week. We're actually holding some for future updates. :)
New EUR pools integrated (EURT and EURS)
We just integrated a couple of new EUR pools from Jarvis and Harvest:
- EURT/jEUR, currently paying 7.74% APY
- EURS/jEUR, currently paying 4.18% APY
Both pools are paying more than agEUR/jEUR, whose APY is currently at 3.26%.
We just adjusted the allocation of our flagship portfolio, Stablecoins Maxi, replacing agEUR/jEUR for EURT/jEUR, which has a higher APY (as discussed above). This brought our total APY from 9.7% to 10.8% with current numbers.
If you want to enjoy these new returns, simply edit your baskets and add them. Happy farming!
Update on APYs Calculations
It is important to mention again that the APYs currently reflected in our website may not be equal to the one presented by the underlying protocols (Jarvis, Harvest, Autofarm, Balancer etc.). You should always check APYs on each site whenever you want to confirm your basket’s yields.
For the product launch, we’re working on a completely new APY solution that will use past on chain data to automatically calculate real yields. When that’s live, we hope to become not only an easy to use portfolio management, but also an APY aggregator to help users identify good returns in a cross-chain world (alpha!!!).
Product design 30min interviews
Raph, our own product designer, is launching an interview series with you, our users. The goals are to share our new product solutions and collect more good quality feedback.
Interviews take 30 minutes max and can be conducted in English, Spanish, or Portuguese. Participants will receive a POAP and Early Adopter role on Discord.
Check the available times below and feel free to contact him if you have any questions!
https://calendar.app.google/JMXKrNR9dn6gu4kBA
Launch Sneak Peek: Direct Deposits
There are lots of new functionalities and visuals for our product launch. In this first sneak peek we’ll share a very cool new functionality: direct deposits.
We initially intended to do a video to explain this, but writing is more accessible.
Direct Deposit allows you use any type of asset that DeFi Basket supports as an input for your basket. If you have USDC deposited in Aave, we will accept it.
Let’s take a look at an example below:
In the picture above you can see how the new Invest Now dialog will look like. We’ve included in a single dialog many information you'll need to assess your initial investment. But this will be further explained in another time…
Our focus now is on Direct Deposits, that's why we'll be looking into this particular button:
Whenever you click on it, we go through your wallet and check for all assets supported by DeFi Basket that you currently have. It’s all done automatically and amazingly fast.
Take a look below on the result from one of our test wallets:
This dialog shows a list of assets with their balance in token amount (below the symbol) and USD (on the right). This list only includes assets available in your wallet address that are supported by DeFi Basket. If nothing is available, a dialog suggesting you to add funds is presented.
In this example, we have three different assets that could be used:
- USDC: exactly as today, you deposit USDC and we’ll swap it into your desired allocation.
- jJPY/JPYC: this is the Harvest token that represents our staked Curve LP. If you select this as your deposit asset, our transaction algorithm will magically transform it into your desired allocation.
- USDC from Aave: this is the token representing your deposited USDC on Aave, which you may also direct deposit into your basket. Similarly to the jJPY/JPYC example above, our algorithm will transform into your desired allocation.
It’s pretty, isn’t it? Best thing is that it works handsomely! We can’t wait to make it available for all of you to use.
— x —
That’s it!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #16
Hi, community!
Some exciting news this week. Let’s jump right into it.
Product Launch Update
As you know, we’re rebuilding the backend of our product to increase reliability and to reduce dependency on single points of failure for routing our swaps.
We’ve become so excited about how the product is coming out that we decided to redesign all flows of basket interactions. Our goals are to make it simpler, more transparent and include many of your feedback/requests. For example:
- Do you want to order assets by APY during creation? Done!
- Do you want to directly withdraw assets? Done!
- Do you want to know how much in fees you are spending? Done!
- Do you want simpler interactions with less clicks? Done!
And more…
Having said that, we think it’s time to launch our product and it’s going to happen in September! YAY!!!
In anticipation of the launch, we’ll make a series here in our weekly updates of all new functionalities and capabilities. Stay tuned!!!
New Jarvis Rewards live on DeFi Basket
Jarvis renewed its bimonthly rewards program for August/September and it is already live on DeFi Basket.
This new program is presenting lower rewards than previous ones, however it’s still quite attractive for many of the included stablecoins.
defibasket.lens
DeFi Basket just received its brand new Lens Protocol handle: defibasket.lens. For those who don’t know, Lens is a web3 social media protocol, which gives content ownership to those who deserve: producers and builders.
There’s a lot of talk about paradigm shifts promoted by new and upcoming web3 social media. Here at DeFi Basket we see a lot of potential in social finance, and perhaps Lens will be an important building block for our adventure into it.
Aave Grants Received!
You might have noticed here that Aave Grants announced our grants. We’re very humbled and happy to have been selected by them.
For this grant, we’ll make sure to list more Aave tokens while facilitating the identification and investment into them. This will be accomplished with the redesign of the Creation and Edit flows (as mentioned above).
Our eyes will also be on GHO implementation, since we want to be early supporters.
DeFi Basket + ethCC
João represented DeFi Basket in EthCC in Paris last month. A lot of insights — Lens came from it — and good business development discussions. We’ll probably have new announcements in the following weeks on that.
— x —
That’s it!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #15
Hi, community!
After missing a week, here we are again with some very interesting news.
Mt Pelerin integration is LIVE!
We shipped our Mt Pelerin integration last week. Our user interface now allows you to transfer funds directly from fiat to crypto. Fees at Mt Pelerin are quite attractive, and the KYC requirements are limited.
We published a thread explaining how to use this functionality. More also here.
Defi Crypto Vaults
We were featured in Defi Crypto Vaults’ newsletter and latest vault. For those of you who don’t know, DCV is a crypto analyst creating interesting investing strategies (quite degenerate, some might say). This time DCV used DeFi Basket to create and manage part of a Forex position leveraged out of MaticX.
Check out this tweet and subscribe to the newsletter. We might be featured again with more interesting stuff.
DeFi Basket Receives Grant from Aave
DeFi Basket received a grant from Aave to further integrate our products. We’ll also make sure to support from inception their planned stablecoin GHO. On top of that, we’ll have better access to Aave’s team and new BD possibilities with them. :fire:
More information soon!
Jarvis Yield Farming Pools are Relaunched!
This Monday, July 25h, Jarvis relaunched their yield farming pools. While rewards are likely to be lower now than last season, they will probably still outperform most currency pool investments.
At DeFi Basket, we’ll work quickly to implement these new farming pools to allow you to claim your juicy rewards again.
We’ll let you know as soon as they are implemented.
— x —
That’s it!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #14
Hi, frens!
A lot of important stuff is being added to our product. You should begin to notice some changes within a few weeks. Here are some updates.
New Deposit and Withdraw Flows
This sprint we’ll be working on implementing a new flow for deposits and withdrawals. Our goal is to simplify our user experience while increasing the perceived value of DeFi Basket. Some sneak pics are below. As always, feedback is welcome. :)
Grants Applications Update
You might have noticed that we are working on grant applications as part of our daily work on #governance. Our current run rate is quite robust, however during a prolonged bear market, we feel the need to strengthen our treasury to deliver on our long term vision.
Stablecoins Maxi returns
There are two main themes on the Stablecoins Maxi returns nowadays. First is that 2NZD pool from Jarvis is paying +40% for two weeks now. This is bringing the real APY of our Stablecoins Maxi back to approximately 20%. The second is the strengthening of the US Dollar versus global currencies due to the current economic scenario. When you look from a native token perspective, it’s consistently providing good yields with little maintenance. However, in USD terms returns have been negative since inception.
Note: It’s important to notice here that our APY figures may still be off from those shown on native protocols. This will be permanently fixed in the coming weeks.
— x —
That’s it!
Please, join our community on Discord and help us facilitate access to DeFi investing. As usual, we ♥️ feedback.
Have a great week!
Weekly Update #13
Hi, @everyone!
We continue grinding on…
In case you missed some of our latest comms, you may be asking why we’re posting so many topics on engineering, and not much about biz dev, expansion and new integrations. The reason is simple: our current focus is to increase our UI reliability.
Backend refactoring
Our devs continue their work on rebuilding our backend. If you’re unaware, we’re moving from Infura to Alchemy RPC provider. This will allow us to provide a much better user experience, with transactions being updated to our backend and frontend almost immediately after conclusion from the blockchain.
For the tech savvy ppl, we’re rewriting the backend using Typescript. This will allow us to share libs between backend and frontend, reducing both engineering overhead and errors possibilities.
Meta-aggregator Coming Up
João demonstrated in #devchannel a POC for our new meta-aggregator. But why are we doing it? Because we want to make sure that users don’t lose money due to price impact while using our automated swap routes. It’s quite a cool functionality.
Mt Pelerin integration
Very soon you’ll be able to deposit funds without leaving our app with our brand new Mt Pelerin integration. It’s already developed and is facing tests in our dev branch.
— x —
That’s it!
As usual, we ♥️ feedback.
Please, join our community on Discord and help us facilitate access to DeFi investing.
Weekly Update #12
Hi, @everyone!
Interesting stuff this week, including an AMA in case you missed us too much.
Last Sprint
Yesterday we concluded our last sprint, where the major theme was around a new architecture for our backend. A solution might have been found and we’re moving forward with implementing it in the current sprint.
DeBank Integration
A DeFi Basket integration proposal in DeBank was created last week. This could help many of us to better manage our crypto portfolios. It would be great if you could vote our proposal UP in the priority by going in the link below:
→ https://debank.com/vote/14399
PS: Currently we don’t reach the threshold of $10 MM TVL for priority integration, so your vote becomes even more important. :slight_smile:
Talking about DeBank, did you know that there’s a little “hack” to check your asset from DeFi Basket in DeBank? You simply copy your smart wallet address from our URL and paste it on DeBank.
Other news
- Today we did an AMA with DeFi Edge, a protocol to facilitate providing liquidity to Uniswap V3. João even shared some more info on his view for our future:
→ https://twitter.com/i/spaces/1lDGLLpDyPYGm
- Don’t forget that you can always gift a basket. It’s a great intro to crypto for those you love.
→ https://twitter.com/DeFiBasketLabs/status/1536439617972338688?s=20
— x —
That’s it!
As usual, we ♥️ feedback.
Have a great week!
Weekly Update #11
After a week of hiatus, here we are again sharing some news.
Upcoming changes
We’re working hard on rebuilding the whole backend architecture. The goals are simple, although the work not quite:
- Make transactions reflect on our UI “instantaneously”
- Eliminate waiting too long for Pending transactions
- Reduce backend errors and downtime during database reloading
Gifting DeFi Basket
We did a quick experiment on Twitter last week about a cool feature of DeFi Basket: gifting. Do check out how easy it is and how cool it is to give someone a Basket of DeFi assets. → https://twitter.com/DeFiBasketLabs/status/1536439617972338688?s=20 -
Updated Documentation
We made improvements to our documentation on the How To Use DeFi Basket section. We tried to be a lot more step-by-step than before. → https://docs.defibasket.org/ -
New Featured Baskets Coming Up
There will be new featured baskets on our Landing page quite soon. Although Stablecoins Maxi has proved to be quite popular, there are many other ways to use DeFi Basket as your portfolio management tool. -
AMA With Techemynt
We’re planning an AMA with Techemynt, the company behind NZD. It should be quite cool to learn more about their product and vision. Stay tuned for more information!
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That’s it! As usual, we ♥️ feedback.
Have a great rest of week!
Weekly Update #10
We’re back into shipping mode and here is some cool stuff we’ve been working on.
ATH TVL
- 🚀 Since early May the whole DeFi community is facing strong headwinds. That’s why the fact that we achieved our All Time High TVL at $136k is quite meaningful for us. You can check more details on httsp://baskboard.vercel.app
PS: Our TVL graph is been calculated on current holding and current prices, so it doesn’t consider historical withdrawn values. This is an improvement TODO.
Angle Protocol AMA
- Last week we did an AMA with Pablo from Angle Protocol. It was quite interesting to learn more about how the protocol actually works. It’s also cool to hear more about Pablo’s views on DeFi and the future of stablecoins.
- We posted our AMA in our brand new YouTube channel (YAY)! We love new things and we hope you too. Hoping you’ll subscribe so we can change our URL to a branded one (100+ subscribers…) .
→ https://www.youtube.com/watch?v=krI84Oiu3nI
Other News
- We achieved quite cool momentum with a co-marketing experience with NZDS’ Techemynt. We’ll for sure have more coming from that partnership, stay tuned! Link
- There’s some new content being posted on our Twitter account around our site’s features. They’re quick threads to showcase and explain how to use DeFi Basket. Hope you’ll enjoy! Link 1 | Link 2 | Link 3
- Come and join us in our new routine: sprint closure with _____. We'll have an open Discord call among all core team members on the last Friday of each sprint. The first one will be this Friday, June 10th, at 6pm UTC. Bring whatever and whoever you want and join the discussion.
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That’s it!
As usual, we ️♥️ feedback.
Have a great week!
Weekly Update #9
It’s been quite a busy week. We finalised our retreat after merging our new site and building a vision for the future. Let’s expand a little below.
1. Site update
- We received good feedback from our new site, but we’re still wanting more. Reach out to us via DM or in the #💡‣feedback (on Discord). We want to know what you think and how you believe we can improve.
- We are still facing some system instability due to the new site and asset additions. Please, bear with us while we fix all of them.
2. We made new assets available for investment.
- 🇨🇴 jCOP -> Colombian Peso from Jarvis Network
- 🇪🇺 jEUR / agEUR -> Harvest vault based on Curve+Jarvis’ yield (13%+ APY)
- 🇳🇿 jNZD / NZDS -> Harvest vault based on Curve+Jarvis’ yield (30%+ APY)
- Native WETH and WBTC -> we made available also native WETH and WBTC instead of having only their Aave version.
→ More details on Angle Protocol’s agEUR: https://www.angle.money
→ More details on Techemynt’s New Zealand Dollar NZDS: https://www.techemynt.com/
3. 🎙 AMA with Angle Protocol
We’re doing an AMA session with Angle Protocol to discuss agEUR and their recently launched pool with jEUR. Set your reminders!
→ https://twitter.com/i/spaces/1ynJOZRlDMzGR
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That’s it!
As usual, we ♥️ feedback.
Have a great week!
