Community Update #3

ICYMI, check out our Community Calls on YouTube or keep reading for a recap of what’s new below.

Most importantly, we launched a major protocol update on the Avalanche network with Trader Joe as our first AMM. What does this mean? We can now create leveraged exchanges on top trading pairs, like JOE-USDC and AVAX-USDC, in addition to the WETH-BTC and ETH-USDC exchanges and pools we’ve already launched on Arbitrum.

Read on to find out more about the recent product launch, updates around our community and governance, what’s next, and more:

Product

• V4.1 — One of our most significant updates to date. Futureswap now taps into the liquidity of AMMs to create leveraged pairs, allowing traders to have leverage and manage risk on any pair listed on the underlying AMM. We’ve opened up the possibilities of doing on-chain leverage on broader, long-tail tokens as an extension of our leverage protocol with added features that make the platform significantly more flexible and composable. The protocol is currently permissioned via token governance, however, the end goal is to allow users to pemissionlessly launch leverage on any token pair on any AMM. Stay tuned for an announcement regarding our next update.
• Celer Bridge — As part of this update, we worked with Celer so that our governance token, FST, can now be bridged one-to-one between Ethereum and Avalanche, with gas fees paid in the respective chain’s token. Notably, this is the first oracle-less bridge deployed to another L1 from Ethereum.
• JOE-USDC — JOE is the native, on-chain token for the Trader Joe AMM, running atop the Avalanche blockchain. Naturally, it made sense to start with this pair.
• AVAX-USDC — Similarly, as our community’s most requested pair after JOE, we enabled AVAX trading to support the Avalanche blockchain’s native token as we continue to onboard exchanges from this ecosystem.

Governance

• Open Source — Our end goal is to provide the best possible leveraged trading experience for digital assets. That requires composability, decentralization, non-custodial liquidity, community governance, capital efficiency, economic security, and most of all — trustlessness. To further our commitment to trustlessness for traders and liquidity providers, the Futureswap code base is almost entirely open source; discover the GitHub repository here. Learn more about what’s in the repos, the respective third-party security audits, and more on our blog.
• Liquidity Providing Risks — In order to trade with leverage on our exchange, liquidity is needed. While being incredibly safe, we dive into the risks and rewards for our liquidity providers in this post.

Community

• Celer Twitter Space — As the first oracle-less bridge deployed to another L1 from Ethereum, we hosted a Twitter Space with the @CelerNetwork team to dive into the details. Note that Twitter is notorious for the downtime with Twitter Spaces. Check back later if you can’t listen to the recording.
• JOE-USDC Trading Competition — To celebrate our v4.1 launch, we hosted our first ever trading competition on the JOE-USDC pair, with sweet prizes including AVAX cash and limited-edition POAPs. Be sure to let us know which pairs you’d like to see next!
• Twitter — You may have noticed our Twitter feed has been picking up steam. Follow, tag, or mention us with what’s on your mind. This bear market is where the real work gets done; let’s connect!

Social

If you don’t follow our Twitter yet, it’s the best way to stay up to date with the latest. Here are some of of our favorite tweets:

• Pool Together with Pooly — A lawsuit has been brought against Pool Together, a well-known DeFi application that operates a decentralized version of the UK’s Premium Bonds. The implications are wide-reaching, and could impact protocols like ours. We minted their Pooly NFT to stand in solidarity and support the defense.
• AVAX Supply — From subnets to their validating nodes, Avalanche is approaching things differently with their chain. We addressed a theory about their possible impending supply shock, and how you could trade on Futureswap with your sentiment.
• ETH Merge — This year looks better than ever for The Merge™, and we couldn’t be more excited. Whether you want to stack ETH in advance of then, or skeptically short it, we broke down how the development towards proof-of-stake had been going up until then. Note, it hasn’t slowed down.
• Delta-neutral JOE — We’re big JOE fans over here, but recent macro events show you can never be too prepared for sudden downturns. We laid out a simple strategy for going ‘delta-neutral’ — that is to say, a way to strategically hedge your bets regardless of your long-term confidence.

Team

• wilton#0626 — Wilton joined the team in March as our Director of Marketing! From writing for this blog to owning our Twitter communications, he’s been instrumental in helping us get the Futureswap word out. Give him a shout on our Discord.
• Current Openings — If you’re reading this post, you’re likely already in the crypto community and someone we’re interested in talking to. Check out our current opportunities; we’re currently looking for a Content Writer and an Executive Assistant / Office Manager.

What’s Next

Join our 13th Community Call on Friday, June 17th, 2022 at 11am PST to learn more about where we’re going from here. Feel free to ask questions in the channel ahead of time, and stay tuned with the links below until then —

Connect

💼 Check out Futureswap →

👾 Join the community on Discord →

🐦 Follow us on Twitter →

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