Looking Back on 2022: A Year in Review
Table of Contents
Highlights of the Year
- DeFiner Builds on Polygon
- The HODLer Market is Live
Partnerships & Integrations
- Web3 Partnerships of 2022
- University Club Partnerships of 2022
Events
- Online & Offline Events
For the Community
- Live Community Updates
- Liquidity Issue Fix Proposal
- How to Explain “DeFi” to a 5-Year Old
- Season of Love Airdrop Campaign
- Top Crypto Acronyms
🥇Highlights of the Year
DeFiner Builds on Polygon
Polygon is Ethereum’s internet of blockchains. In other words, the Polygon network is a scaling solution for Ethereum, meaning that transactions are much faster and cheaper for all.
This launch has contributed to the expansion of crypto asset offerings on the platform as well as exposure to a ever-increasing Polygon community. At one point, DeFiner was even in the top 8 DeFi lending protocols on Polygon.
Now, DeFiners can do more with their crypto on the Polygon chain, including the creation of HODLer Markets.
Get started on the DeFiner App.
The HODLer Market is Live
The HODLer Market is HODLing reimagined.
In 2022, the DeFiner team launched the HODLer Market beta version. This update marks the start of a new era of DeFi lending — one in which users have the power and freedom to create a lending market for any token.
The HODLer Market plays a pivotal role in the DeFiner 2.0 roadmap; it introduces a truly permissionless and configurable DeFi lending protocol with privacy 100% protected. This enables new possibilities for protocols and communities alike to hodl, borrow, and earn.
The HODLer Market is designed to attract miners who will farm, promote, and most importantly, hodl — meaning no more mercenary liquidity and no more death spirals.
The HODLer Market is more than just lending and borrowing. The HODLer Market can help projects build strong communities, avoid death spirals, and increase the utility of their tokens.
Take a deep dive into the HODLer Market here.
🤝Partnerships & Integrations
The year 2022 was a rough year for everyone in the industry. The crypto space took a big hit by the falls of both Terra Luna and FTX — including the projects and organizations related to these entities. At DeFiner, we are a team of builders. We keep innovating, improving, and growing despite market conditions.
This year, we are pleased to announce that the DeFiner ecosystem grew larger and stronger. Next, you will find a list of Web3 projects and university clubs that DeFiner had the privilege to partner with throughout the course of the year.
Web3 Partnerships of 2022:
- Presearch
- Ankr
- Kommunitas
- QuickSwap
- FBBank
- Phantom Protocol
- Entropyfi
- Wyre
- Nabox
- DeBank
- Crystl Finance
- Deepcoin
- Nuls
- Superpower Squad
University Club Partnerships of 2022:
- VCU Blockchain
- Michigan Cryptocurrency Investment Club
- Gator Blockchain Club
- Cryptocuse
- The Cryptocurrency Club at FSU
🎫Events
Crypto and DeFi conferences and meetups are at the heart of this industry. Industry events give people from all walks of life and backgrounds the opportunity to meet, learn, and develop further together. The DeFiner team is no stranger to these occasions. This year, we participated in 18+ crypto industry events, both offline and online. Find a list of the major events that we attended to below.
Online Events of 2022:
- DeFiner x Polygon AMA Session.
- Polygon + Polygon Ecosystem DAO.
- DeFiner x Entropyfi AMA Session.
- DeFiner x Wyre AMA Session.
- DeFiner x Kommunity AMA Session.
- DeFiner x Crystl Finance AMA Session.
- Furucombo FuruRadio’s Podcast.
- Huobi Incubator Podcast.
Offline Events of 2022:
- ETH Denver 2022.
- Bitcoin Miami 2022.
- VeeCon 2022.
- Permissionless 2022.
- NFT NYC 2022.
- Blockchain Futurist Conference.
- The Science of Blockchain Conference 2022.
- Messari Mainnet 22
- Converge22
- Devcon Bogotá 2022
🦈For The Community
Live Community Updates
At DeFiner, we are looking for ways to be closer to our community. During 2022, the team decided to change the weekly community updates format from blog posts to live sessions on Twitter Spaces.
These events are designed to be a space for not only DeFiners but also the broader crypto community to come together and connect with each other. With this new format, the DeFiner team is fostering an environment in which everyone can speak up and let their voice be heard. Visit our YouTube channel and subscribe to listen to our previous Twitter Spaces and stay up to date with DeFiner news and updates.
Liquidity Issue Fix Proposal
The liquidity issue on the DeFiner’s savings contract has been a hotly discussed topic in our community for the past several months. Certainly, the DeFiner team is aware of the current situation and has worked to both draft and implement a proposal for the benefit of all DeFiners.
Some users have speculated that this was either an attack to the protocol or a ruse devised by the core team to divert the funds into their own pockets. These speculations couldn’t be farther from the truth. The fact is that borrowers haven’t paid off their loans, which are coming from depositors. Therefore, the depositors cannot withdraw their funds.
- The easy fix: All borrowers on DeFiner pay back their loans.
- The complicated fix: The liquidity issue proposal voting.
The proposal posted by the DeFiner team is meant to help the users’ principal to be withdrawn first and the accrued interest afterward. This proposal includes a few steps suggested to fix the current liquidity issue as a protocol and community:
- Remove low market cap tokens including $FIN
- Lower the collateral factor for all assets to 0%
- Lower the maximum borrowing interest rate for all assets to 25%.
- Increase the interest reserve factor for all assets to 99%
Join the conversation on both our Reddit forum and Discord server.
How to Explain “DeFi” to a 5-Year Old
True masters are the ones who can explain complex concepts in just a few words that even a 5-year old child can understand. This year, we were curious to know how easy the concept of “DeFi” was to explain. So, we asked the question, “How would you explain “DeFi” from scratch to a 5-year old?” We were astonished and surprised with the responses we received. Here are the top 3:
- “Decentralized finance, finance that’s spread out all over instead of held in one place like a bank.” — Reddit User JayPolar91
- “DeFi would be like this: Instead of going to a store to buy crayons we are now all little crayon shops.” — Facebook User Michael Hines
- “I want to give five dollars to my friend but my friend is on the other side of the world. The way it works now, I have to give my five dollars to someone and trust that they’ll give that five dollars to my friend. What DeFi will let us do is skip the middleman and just send the five dollars straight to my friend” — Reddit User ISuckAtGaemz
Season of Love Airdrop Campaign
During the month of February, love was in the air for DeFiners. For Valentine’s Day, the DeFiner team launched a special airdrop campaign titled “Season of Love.” The campaign consisted of three simple steps:
- Follow us on social media.
- Download the DeFiner iOS app.
- Earn free crypto.
The response was overwhelming — hundreds of people participated in the Season of Love airdrop campaign. This event presented a unique opportunity to show some $FIN love to the entire DeFiner community. Again, thank you for participating!
Top Crypto Acronyms
The terms “HODL”, “FOMO”, and “FUD” are some of the most popular acronyms in the space. But, Did you know that these are not the only crypto acronym out there? Have you seen them or other similar acronyms while scrolling through your social media?
Go from beginner to pro by adding these acronyms to your crypto arsenal:
- BTD — Buy the Dip
- FOMO — Fear of Missing Out
- FUD — Fear, Uncertainty and Doubt
- NGMI — Not Gonna Make It
- WAGMI — We’re All Gonna Make
- REKT — Failure, Loss Of Money
- DEX — Decentralized Exchange
- CMC — CoinMarketCap
- DAO — Decentralized Autonomous Organization
- EVM — Ethereum Virtual Machine
- Dapp — Decentralized Application
- DeFi — Decentralized Finance
🥳Every End Marks a New Beginning
Last year, we said that 2022 was going to be our best year yet. The events showcased in this article are evidence of our premonition. Surely, we have gone through the ups and downs that the whole industry has experienced, but we are still building for DeFiners. If anything, this year has been a testament to the protocol’s resilience and endurance amid challenging circumstances. One thing’s for certain — better days are ahead!
On the road to success, the rule is always to look ahead. May you reach your destination and may your journey be wonderful. Happy New Year!
If you have any questions or concerns, please email us at: contact@DeFiner.org
