Proof 2020
Happy New Decade to everyone! As we enter 2020, we wanted to give a quick rundown of what to expect from Proof Suite. As we enter this next year, we are excited to begin rolling out some cool stuff.
DeFi + AMP
With the changes in the industry, Proof will be focusing on adoption technologies to bring more people into the world of decentralized finance. We are taking a more balanced and focused approach towards decentralization, development, and user research. In order to maintain this balance, we will be revising, consolidating, and possibly eliminating some of our products in the interest of focusing our development efforts.
First, pertaining to our existing application layer products encompassing AMP — The AMP Market, Avocado, and Togen — these will be improved and adapted for the evolving DeFi space.
For AMP, we are planning some facelifts and improvements to the codebase so more people can get involved in the development process. Just as our understanding of both the impact of decentralized assets and the realities of how financial markets have matured, AMP must mature in kind. More on this later as we roll out some of our first additions.
Likewise, we are applying our lessons and existing code library from developing Togen, Avocado, and AMP into a new application which will allow for functionalities including and not limited to: easy access to DeFi applications, one-click interest accruing account creation, data feeds, and a multi-protocol decentralized wallet for power users. This initiative will be open for sign-ups in late January with a public beta opening sometime at the end of Q1 and will eventually unify all of our product experiences. This initiative is currently codenamed as ‘Tao’.
All of these apps are built on our steadily expanding family of smart contracts creating single points of access for our and other DeFi products with a unified interface that makes user and developer lives easier.
Third, and most exciting, we are working on our own DeFi applications. As noted at the beginning of the year, we entered a research and development phase at the beginning of 2019. At the conclusion of 2019, we entered multiple hackathons with our open source applications Structured and OrFeed, where we found success working with and pitching to awesome teams such as AAVE, Cosmos, Ember, and Kyber. Here’s a quick rundown of these projects:
OrFeed is an oracle aggregator allowing for subscriptions and information access through protocols such as Chainlink, Uma, and Kyber to the wide world of Defi. OrFeed will also supplement crypto data feeds with data from Forex, Equities, and more to assist in the future creation of more derivatives. Both Avocado and OrFeed will be supplying data to Tao.
Structured is an elegant platform which allows for developers to insert models into a smart contract and assemble a structured portfolio from platforms such as Fulcrum, Synthetix, and Compound. It is the other side of OrFeed, allowing for users to translate their need to balance equity and growth as the crypto market matures. Structured forms the base account settlement layer of the Tao account system. Also, for the holidays, we added the beginnings of a gifting smart contract allowing users to send others decentralized portfolios.
If you are a developer and looking to get involved with adoption applications of DeFi, we have placed multiple bounties on Gitcoin to help accelerate the development process of this contract ecosystem. Likewise, stay tuned as we develop integrations with PRFT and begin making announcements around the DAO systems which will govern these applications.
More on DeFi and products later. We have some more cool stuff coming down the pipe and we will announce it when ready. In the meantime, we will continue to release both our backend and frontend work onto our Github as we are committed to contributing code to the decentralized assets space.
PRFT 2020
If you missed Mike’s excellent breakdown of our token over the past 2 years, take a look at his post here. As for this year, we will be working towards three major things with our token: platform integrations, advisorship for token holders, and finally, further utility of Proof Token.
First, we will be building utility for our token into our DeFi products. In the interest of avoiding the ‘Chucky Cheese’ limitations wherein users must own our token to even use products, we instead are planning on positioning PRFT as a mechanism for holders to choose which level of the ecosystem they want to participate while receiving extra functionality from our data feeds, structuring products, and issuance platforms.
Second, I will be personally establishing a contributor call for token holders and will be discussing further plans to work more directly with these members in bi-weekly calls and updates. This list will be established sometime after March as we will have some announcements that may influence this list.
Media, Marketing, & Community
We plan on continuing to contribute to our Youtube channel with more Proof-of-Makes and DeFi lessons coming down the pipeline. These take a while but we will be working through the year on getting out further media to increase exposure for Proof Suite. That said, if you have an idea for a lesson or Proof-of-Make, please leave a suggestion in the comments of the videos or this post!
Likewise, we are working on multiple education and development partnerships to begin the process of using education to both bring value to the space and increase the visibility of our projects. We will make announcements on this soon. Keep an eye on our Twitter feed for more updates.
Finally, I am going to be setting up a personal bounty in-office with the team to get back into the habit of weekly updates on Medium. However, Instead of just focusing on what is happening at Proof, I will be sharing projects, ideas, conversations and responding to current events that we find interesting in the industry. If I fail to get a post out each week, I will be paying bounties to our team. On second thought… this may be a good thing to open up to the community. More on that later!
Our Interesting Times
It has been a tumultuous last couple of years for both Proof and the crypto world, but as we move into the next decade, we are AMP’d for the opportunities coming out of the space.
