FujiDAO 2021 Rewind
In 2021, the focus has been mostly on the product side, creating the basis for Fuji’s engine to run smoothly and safely before attracting more users and capital.
It’s been more than a year that we’re silently climbing towards the top of Fuji, and it’s now time for a rewind of what we achieved in the past 12 months!
🔄 Product rewind
January — February
Everything started in January 2021 during a hackathon hosted by ETHGlobal where we laid down the notion of a borrowing aggregator. We were building on that idea with the goal to showcase a product capable to optimize effectively the cost for borrowers.
Next, our efforts were focused on the public release of the proof of concept.
A small community of enthusiasts started to shape up around the project, and Fuji was born.
March — April
After the public release of the concept, we started receiving a lot of positive feedback from the community. In the meantime, some investors showed their interest to back the team and the project. We decided to raise the capital needed to bootstrap the development of the product and went for a seed round with Maven 11, Delphi Digital, Spartan Group, and Origin Capital.
Right after that, we announced our testnet version and invited everyone to test it out. Based on the inputs from our first users, we went through several iterations to achieve a state of the product ready for mainnet.
May
In May, after our testnet version got sufficiently tested, we initiated the Alpha Climbing, our alpha version was ready to be launched on Ethereum. By that time, the smart contracts weren’t audited yet and we set up a cap of 2 ETH per deposit. Our goal was to get 100 users ready to borrow for real through Fuji’s vaults. As of today, the alpha version was used by more than 1100 unique addresses.
June — July
Over the summer, we observed many users, new to DeFi, keen to try out protocols and services were asking genuine questions about yield and interest rates. That’s why we came to the idea to share with the community educational content about some DeFi concepts.
August — September
We first brought FujiDAO to your pockets by releasing our mobile version.
Then, keeping an eye on all lending venues, we saw an opportunity on Rari Fuse markets. Interest rates for the same assets vary highly across different pools, perfect conditions for Fuji to shine. We partnered with Rari’s team and deployed a dedicated instance to aggregate some pools.
October
We joined the Sushi incubator after some discussions with their ex-core team, we raised more funds and started working with them and get their feedback on our protocol.
We won’t comment on the political events happening with Sushi, as we believe DAOs are resilient in nature, and we hope the new leadership of Sushi will bring the project back on track to achieving their vision.
In this period, we also released our first NFT, the FujiFlops, which was given to our 96 first climbers that have joined the climbing back in May when we launched the Alpha version on the Ethereum network.
November — December
At the end of the year, we made an important step towards our vision of aggregating borrowing markets cross-chain. After our smart contracts were successfully audited, we deployed them on Fantom. The Fuji engine was plugged into Geist, Scream, and IronBank.
Next, we developed a new feature meant to save time for Fuji users. The rewards accumulated from using the underlying providers get harvested and sold for more collateral.
✨ You can already borrow at the lowest rate on Fantom on the following pairs:
- ETH/DAI
- ETH/USDC
- FTM/DAI
- FTM/USDC
- WBTC/DAI
January 2022
365 days later, in January this year, we upgraded our homepage with a step-by-step explainer of the protocol. We also added a new section for every position where all transaction history got displayed.
🩴 Community/Medias
This year, our community grew and gathered many new climbers keen to take part in the journey. We recently involved some of them in the translation of our documentation and managed to translate the docs into 10 different languages.
📊 — Our journey gathered brave climbers in every social network:
Twitter: 6000
Discord: 2400
Telegram: 450
Medium: 50
Linkedin: 35
🔍 — Some of them created tutorials about our protocol:
📡 — We participated in different events/shows:
🗞 — FujiDAO was explained to a broader audience:
In 2022, we aim to expand our audience to more users and broader audience, and involve the community towards achieving our vision.
🔐 Security & Audits
With part of the funds we raised in March, we got our contracts audited by Trail of Bits and Securing.
Read more about it:
Here find our security reports:
🔏 — Trail of Bits
🔏 — Securing
🧗 Team
We were three to start this great journey. Since we first met at a Hackathon back in January, a lot of water has flowed under the bridge.
After months of remote work, we finally met at EthCC in Paris in July.
Our team grew continuously over the year. We were happy to onboard more people who shared the same values and ambitions about Fuji. Today we are eight, all with different backgrounds, experiences, and ages.
We were initially 3 and we are now 8 in the team:
Boyan: Head of Engineering
Edgar: Marketing/Communication
Daigaro: Management/Smart contracts Developer
Unborn: Artistic Director
Tiago: Smart contracts Developer
Markus: Front-end Developer
Guillaume: Front-end Developer
Ivan: Product Manager
Our goal for 2022 is to find new partners who can contribute to FujiDAO’s growth and help accomplish our vision of aggregating all lending/borrowing markets.
✏️ Conclusion
While 2021 has been mainly focused on creating the product basis for the Fuji engine to work properly, our goal now is to expand the protocol to more chains, more providers, and more users.
This year building FujiDAO has been awesome on all sides, and we are very grateful to our community and every partners who made it possible. We can’t wait for the upcoming steps and we hope you will join us for the next part of the climbing in 2022! 👀
🗻 About us
FujiDAO is a Borrowing Aggregator optimizing your costs in DeFi by automatically refinancing your loans across different markets. The app is already live on Ethereum and Fantom and we invite you to learn more in our docs.
➡️ — FujiDAO
🩴 This is now the best time to join the hiking and we’re pleased to invite you on Discord to keep up to date with our upcoming news!
