Newsletter, 11th of April
🔥 What happened last week…
- More than 6.6M dollar already traded on Margin protocol
- Launch of the private sale
This week we were mainly focused on research, so we do not have a lot of updates for you, but anyway here is a recap of what happened. It might be like that for the next 1–2 weeks.
👨‍💻 Protocols
Margin Protocol
As we said in the last newsletter, we are spending these weeks studying the current code to elaborate requirement. We continue to reach new milestones each week, Jarvis margin protocol overpassed 6.6M USD traded.
Synthereum (Synthetic Protocol)
We have started the work on the v2, and are having several discussions with UMA and William about probable solutions to the issues we mentioned last week.
📱 Applications
Jarvis Exchange
Again, we are only studying. It's quite a heavy work, the idea is to understand the entire codebase in order to have a very accurate plan. Developing without taking the time to deeply analyse EVERYTHING always ends in months of delays (we already experienced that in the past, and no way we will do this mistake again). As you can imagine, the amount of work to go through is massive as not only the code has to be understood but also the business logic, and where the bugs and issues are.
Contract Wallet
We had a call with the developer from Unilogin to discuss the key management system to address the issues created by the new Apple update and the impact it will have (the one we mentioned in the last newsletter that can remove the private key from the browser).
Burner Wallet
Everything is finished but the relayer aspect. It is very frustrating for us that we encounter so many issues on this, which prevent us to launch it for now.
🚀 Business
We finally released our article regarding our treasury, burning rate and financial needs; unfortunately, the funds raised during the public ICO last year were enough to cover what we have done so far, and we still have 7 months of cash in front of us, but we need additional funds. All the details are in this article:
This is all for now, stay safe, wash hands and see you next week!
Vsevolod.
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