Seed Raise & Development Update

From start to finish, June was a month of strong momentum for the Increment community. The month opened with our participation in the Startup with Chainlink program and closed with a successful seed fundraise. In between, we also released the first edition of our trader’s handbook called “ Perpetual Swaps 101 “, and began the registration period for our Beta v2 release.

Notably, our seed round is joined by industry leading investors, namely ParaFi Capital, Delphi Ventures, Dialectic, AngelDAO, and SkyVision Capital. Although we announced the fundraise at this time, we have received support from our investors since the very beginning of building the Increment protocol and we are incredibly grateful for it.

Development Update

June was really a heads down building month for our engineers. We completed the Peckshield audit and fixed findings, then continued to add additional features to the smart contracts to ensure that we have everything ready for Beta v2.

At the time of writing, we have over 10,000 testers signed up to try out Beta v2 — if you haven’t yet, sign up by following the instructions here. In the next few weeks, we hope to implement a few more optimizations to the app, test throughly, and get ready to launch on zkSync 2.0 testnet once its Vyper support is complete.

We will also have some more fun activities in our Discord before the launch, stay tuned!

📟 Operations

• Updated landing page with investors section
• Twitter: grew to over 7000 followers
• Discord: grew to over 17,000 participants
• Research UI/UX design of leading perpetual products

💻 Front-end

• Developed and optimized trading, pool, and portfolio pages of the app
• Updating subgraph with new contract functions and connecting new features to the interface
• Troubleshooting UI/UX design issues when adding additional features

📑 Smart Contracts

• Finished Peckshield audit and fixed findings
• Added additional features like cross margin
• Add and adjust existing risk parameters
• Improved test coverage and cleaned up code

Additional note, the cred star module has been paused due to a memory capacity limit on sourcecred, a solution will be determined in the near future.

Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync 2.0, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.

To learn more, visit our Docs
For the latest updates and news, follow us on Twitter
Join the community on Discord.

Originally published at https://increment.substack.com on July 5, 2022.