FinNexus Monthly Progress Report (September 2020)
Technological Progress
On September 8, FinNexus announced the addition of ETH and USDC to accompany FNX as accepted collateral for the world’s first MASP peer-to-pool options platform. The latest model of FPO liquidity pool is shown below
On September 8, FinNexus initiated testing on FPO v1.0 before its official release and sincerely invites participation of all users. FinNexus would provide an equivalent of US$10,000 FNX tokens to reward testers. The participation would be open from September 07, 2020 to the official release of FPO V1.0 (about one month). For specific participation methods and other information, please click the following link: https://mp.weixin.qq.com/s/uGIVilVQyNpCjCAWVGnDoQ
On September 12, FinNexus reminded users that the UM1S swap for USDT has begun and that the swap would end on September 30. In one of our posts, we explained what is UM1S tokens and provided detailed guidance for UM1S-USTD conversion: https://mp.weixin.qq.com/s/KydfyQkKWuHKA68zNCepyw
On September 17, FinNexus announced to launch Phase 2 FNX liquidity mining. The mining would start at 22:00 on September 19, Beijing time, and would continue indefinitely, with mining reward revisions every three months. To know participation rules and rewards distribution, please visit the following link https://mp.weixin.qq.com/s/nv8gI6oEMLXURieYublQdg
On September 17, FinNexus announced that the BitMax pre-staking initiative, offering a compound yield of 50% APY, was launched and available! For more information for participation, please click the following link https://medium.com/finnexus/bitmax-announces-50-apy-staking-for-fnx-token-holders-44c474b65cff
On September 22, the new BTC option series was launched.
BTC, put, October 9 2020, $10,500
BTC, call, October 9 2020, $10,500
On September 27, FinNexus announced the addition of a very interesting mechanism added to the testnet, https://options-dev.vercel.app/#/, similar to the Price slippage in AMM. This mechanism will fulfill users’ demand of options and enhance the security of the pool.
Operational Progress
On September 2, FinNexus announced that it had partnered with Kardiachain (KAI) to explore the potential to develop DeFi services on the Kardiachain mainnet. A platform built using the FinNexus Protocol for Options (FPO) on Kardiachain is one potential scenario that the teams intend to explore after the launch of KAI mainnet, expected in Q4 of this year. Another conceivable collaboration could also involve the tokenization of real-world assets on Kardiachain using FinNexus protocols.
On September 7, the “FNX Fans” community was established. It is expected that this community will provide a platform for FNX fans to communicate and learn. All users are welcome to join. See the link below for specific joining methods. https://mp.weixin.qq.com/s/uU0TxEDii6viZMir6E0lWg
On September 10, FinNexus announced its partnership with Kyros Ventures, a conglomerate consisting of many of the largest Vietnamese crypto communities. Under this collaboration scheme, Kyros Ventures will help expand the Vietnamese market for FinNexus and will be responsible for marketing and brand management.
On September 14, before the launch of FPO WILDNET, FinNexus updated the web design to bring new experiences to users.
On Sepetember 22, FinNexus launched its WILDNET testing. A select group of investors, influencers and community members were invited to join. The total rewards for participating are up to 1,000,000 FNX tokens issued. The mining APY can go as high as 500%.
On September 30, FinNexus released the addresses of FPO WILDNET testers. Click the link below for specific information.
Team Updates
On September 3, FinNexus co-founder and CFO Ryan, and FinNexus Chief Strategy Officer Nicholas Krapels co-hosted an AMA on Telegram and answered questions raised.
On September 8, FinNexus co-founder and CFO Ryan were invited to participate in Jubi Live, to share his views of the topic — “How to Earn Money through Mining in this New Round of DeFi Boom”.
On September 10, FinNexus co-founder and CFO Ryan and Jubi CEO Jeff were invited by GFS, a well-known community overseas, to participate in an online AMA to share their views on the future opportunities and challenges of DeFi.
On September 10, FinNexus co-founder Yang Tao, was invited to participate in the DeFi Talk online that held by Beep News to discuss new trends in DeFi.
On September 14, Real Satoshi, Winkrypto and FinNexus jointly organized an AMA. Yang Tao, the founder of FinNexus, was invited to participate the session during which Yang introduced the operation mechanism of the FinNexus protocol, the value capture of tokens, and its difference from other competitor products.
On September 17, FinNexus founder Yang Tao was invited to participate in the AMA — The Second Stage of DeFi, Why Derivatives Will Be the Next Breakthrough”. This AMA was organized by the FNX Fans community with the view to popularize the companies providing derivatives, what FNX does, what advantages FNX boasts, and what is FinNexus’ plans.
