saffron.finance
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saffron.finance

Saffron Weekly (1/14/21)

What’s new in the week of 1/11/21–1/18/21.

Thank you for your patience this week and apologies for the delay — it’s been a little bit of a tumultuous and nerve-wracking time for our country to say the least. I know we typically have our own bubble here far removed from the regular world, and it’s definitely a blessing, but I think we would all benefit from going the extra mile to do something kind for one another this week. Having said that, let’s get into it!

Epoch 5

Epoch 5 has begun! Another smooth and seamless transition from epoch to epoch occurred at the beginning of this week. As we mentioned in the last Weekly, epoch 5 is focused on refining the pools we currently have — there a lot of new features being worked on behind the scenes and we want to make sure all of our ducks are in a row before we start rolling them out. Psy and the team are hard at work on a highly requested feature that I think will really be a game-changer for Saffron, and I’m looking forward to finally being able to talk about it in the near future.

As a reminder these are the pools currently available:

Updated APY values for the Decentralized Exchange pools & SFI staking

Multisig

In addition, dev 2 of 3 multisig is complete, and we’ll be adding an additional 6 of 9 multisig soon. For those unfamiliar with the terminology, multisig is shorthand for multisignature and adds a layer of decentralized security. Traditionally during a transaction, every wallet requires the user broadcasting the payment to sign the transaction. With multisig it requires one or more copayers to sign the transaction, adding an extra layer of security and makes trustless escrow/arbitration possible.

In layman’s terms, think about it like a fancy lock that requires multiple keys to open. With 2 of 3 multisig — what we have completed now for Saffron — that means there are three copayers with two signatures required. This move is phenomenal for us because this will secure the smart contract system and remove the single-address EOA risk from Saffron.

Twitter Recap

Let’s see what the recent buzz is this week on Twitter about Saffron:

Saffron featured on CoinGecko’s Yearly Report

We had the honor of being featured on CoinGecko’s yearly report! Check out pages 21 & 25, where Saffron Finance is mentioned under their summary of the DeFi Ecosystem. It’s an honor to be mentioned alongside all of these other amazing DeFi protocols!

SUSHI Rewards FAQ

We’ve been getting a lot of the same questions about the rewards for the SushiSwap pool and figured for ease of finding the information, here are some frequently asked questions about the pool:

Q: Are the 1/3 Sushi rewards gets distributed at end of epoch & the rest is vested like normal ?

A: SUSHI rewards will be airdropped at the end of epoch 5 (and every epoch after that), we will receive the vested SUSHI to our multisig, and those SUSHI will be sent to LPs as soon as we receive them.

Q: If I am in the SushiSwap ETH-SFI pool, then I am not able to participate in SushiSwap’s Onsen program, correct? (because I had to send my SLP tokens to Saffron in order to be in the Saffron pool, therefore can’t stake them at SushiSwap)?

A: Onsen rewards are now only accrued through Saffron’s smart contract.

Saffron Finance Feedback

As we touched upon last week, a large part of building up a great platform is listening to the community surrounding it and we want to hear your honest feedback on how things have been from a user experience standpoint. These quick questions are meant to get feedback on the simplicity of the platform, how well Saffron Finance is explained, and if you have any personal feature requests that you think would improve the platform. We’ve constructed a brief survey that should take you no more than two minutes to fill out. Your feedback helps us create a better Saffron!

Community

Web3 app: https://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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