saffron.finance
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saffron.finance

Saffron Weekly (05/12/22)

What’s new in the week of 5/12/22–5/18/22.

Hoo boy.

The crypto market continues to plunge in almost perfect lockstep with the stock market as Bitcoin falls below $28,000, Terra attempts to stop the bleeding with their catastrophic UST/LUNA crash, and market uncertainty is high. While some would suggest that this is only a part of the bear/bull cycle, I personally would argue the sheer poignancy of this dip is a natural consequence of an artificially inflated market — thanks in no small part to the trillions of dollars the US has injected into the economy in the past two years. But that’s neither here nor there.

On the bright side, Saffron users have historically been more “high information” users in the crypto space than most and I’m sure a lot of you — while disappointed to see a red portfolio — can appreciate the massive opportunity approaching that only a bear market can bring. If the bear market sticks, I personally am excited at the opportunity for protocols to have a chance to hunker down and just focus on BUIDLing strong fundamentals, cultivating partnerships, and developing innovative ecosystems.

Despite the negative sentiment across both the stock and crypto markets, here at Saffron we haven’t slowed down a bit — in fact we’ve recently hired several new developers to join our team. We have a brief AMA with Psykeeper below that expands a bit more on this/our 6 month plan, so I highly encourage you to keep reading. I’m sure you all know this by now but it bears repeating; the Saffron team is always open to taking questions from the community on Telegram/Discord, so don’t be shy!

Saffron Finance New UI

Here is a sneak peek at our most recent design for our upcoming UI overhaul for Saffron Finance. While still a work in progress, we’re really happy with the progress so far — you’ll easily be able to see what type of pool you’re joining, APR, TVL, featured pools, new/upcoming pools (see the “KCC Available” example), the highly requested dark mode, and more. Got a suggestion for the design? Let us know in Telegram — we’ll be able to connect you to a member from the design team to talk further and share feedback!

Saffron Finance x Elk Finance Partnership

After the great Twitter Spaces AMA last Friday, we’re going full steam ahead with our new partnership with Elk Finance. Tomorrow marks the targeted launch date of the SFI/ELK dual farm on Avalanche ElkDEX, with KCC coming on the horizon shortly after. Be sure to visit Elk Finance for more information to take advantage of this upcoming farm. And speaking of KCC…

KCC Unicorn Contest Continues

The above tweet is pretty self descriptive, but it’s worth highlighting that for those who are interested in continuing to participate in the KCC Unicorn Contest you’ll want to head on over to KCC’s snapshot poll tomorrow and vote for Saffron. This helps our protocol and gives out fun rewards to participants, so be sure to take part. Make sure to follow the instructions in the tweet above to be able to enter the contest proper, and thank you for your continued support!

Psykeeper AMA

This isn’t quite a traditional AMA, but user Sjt16 on Telegram asked several great questions earlier this week and I felt the answers Psykeeper provided were important enough that it was worth reposting this for everyone else.

Sjt16 writes:

Hello psykeeper, can you pls give us some update on following topics:
1. Saffron whitepaper
2. V2 audits
3. Saffron team expansion (current number of devs and others)
4. Goals for next 6 months.
Thank you.

Psykeeper responds:

1. We’ve been working hard on the whitepaper for Saffron V2 and currently it’s undergoing a review process as rx3a said earlier. We’ve got some academics in the DeFi industry and also from the traditional world who have committed to reviewing it. After their comments we will release the paper on-chain and add it to the docs section of our web3 site as well. The next version of the whitepaper will describe the next product we create based on the Saffron V2 engine.

2. The current version of V2 has been audited by ZOKYO and when we add new adapters for Badger, Uniswap, and Pangolin we will first release them as unaudited experimental pools and then begin the a new audit for each pool. Some new pool types will not require re-audit.

3. We’ve added a few new devs recently including supafreq and everywherebagel who will be working with us on improving the web3 app as well as helping build the smart contract system.

4. The next 6 months for Saffron will include more experimental pools, more partnerships with other DeFi protocols (as we’ve seen in the past few weeks), more options for flexible insurance, and more ideas that can be executed as experiments first then solidified after a proper audit and review by the community. I also expect Saffron to move towards a more decentralized path and make use of governance more frequently for decision-making and overall direction. Some of the ideas that we’re exploring are ETH staking, fixed interest, fixed income, and stablecoin insurance. We’re working on building adapters for Uniswap V3 yield next because they are a consistent source of yield without emissions and have a sustainable long-term outlook unlike emissions farms. I expect this trend to continue as TVL moves from Univ2 into Univ3 and swaps naturally migrate to the newer platform.

Saffron May Town Hall

The Town Hall is now tentatively scheduled for the last weekend of May — and we’ll have a more firm date/time for you all next week. There, we’ll have members of the Saffron Finance team answer questions surrounding V2, our partnerships, new bridges, the future of Saffron, and more. If you happen to miss the event we’ll have a transcript of the Town Hall published afterwards.

Community resources

Web3 app: https://saffron.finance
Governance: https://gov.saffron.finance
Telegram: https://t.me/saffronfinance
Discord: https://discord.gg/pDXpXKY
Twitter: https://twitter.com/saffronfinance_
Github: https://github.com/saffron-finance/saffron

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Saffron is a peer to peer risk exchange and decentralized risk arbitrage marketplace.

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