Community Update — JAN2021
What’s up folks! Apologies for the lack of updates over the last two weeks, we’ve been in hermit crab mode organizing our thoughts and game plan to take our project to the next echelon.
Again, focusing our efforts around product, liquidity management and community.
- The recent market volatility has further validated our proposed use case for a hybrid loan option protocol where it aims to enable a robust loan-to-value level, dynamic liquidation mechanism (to alleviate margin calls during extreme volatility) and a market-determined pricing model between Lenders and Borrowers.
- We revisited the original design of acBTC composite basket and identified ways where we could further improve the underlying protocol from a composability standpoint. We are working on a new design to further empower DeFi builders and applications to be built on top of the acBTC asset protocol.
- We are actively exploring the potential to deploy the acBTC asset protocol onto other Layer 1 blockchains. We have made significant strides in communicating with key stakeholders of various Layer 1 builders and we are currently in the vetting and test implementation process. More on this once we come to a final decision.
Since circulation began for AC, we have been consistently enabling more trading avenues for traders and holders. Till now, AC can be traded on the following exchanges:
Beginning this quarter, we will be allocating dedicated resources to the traders community to further stimulate trading behaviors. Also, we are continuously looking for new trading avenues to broaden our reach to traders across different regions.
From a tokenomics standpoint, we have recently adjusted the AC allocation in Week 16. Thus far, we are seeing a shift towards equilibrium. We will continue to monitor and evaluate inflation effects. This will be an ongoing process and ultimately our goal is to allocate supply to value believers without sacrificing short-term price action.
We’ve witnessed a healthy growth in our community since project launch, but we’re looking to kick things into high gear in the coming weeks.
Over the last 2 weeks, we have onboard a number of community ambassadors to help with community building in the North Asia region. A big round of applause to the new joiners as they have been working tirelessly to ramp up on our project’s knowledgebase and preparation of go-to-market materials in local languages.
For those who are keen to be apart of the ambassador team, please DM me for further info.
Lots of exciting developments in the pipeline. We will be releasing a detailed roadmap on our approach for each initiative in the coming weeks.