saffron.finance
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saffron.finance

Saffron Weekly Newsletter (12/21/20)

What’s new in the week of 12/21/20–12/27/20.

It’s the Monday before Christmas and anticipation was set,

Not a bear was left smirking, all of them drenched in a cold sweat;

Everyone‘s bags were packed by the chimney with care,

In hopes that the bull market would soon would be there.

Let’s get into it, shall we?

Saffron Finance secures $1,000,000 in seed capital

As Psy announced this morning, Saffron is in the process of raising a round of funding and as of today we’ve officially secured a partnership with an early DeFi angel investor who is committed to funding Saffron development with seed capital of $1,000,000. The round is still ongoing and we’re in the process of finding strategic partners, angel investors, and venture capital firms to ensure Saffron can remain adequately capitalized and have the right partners on board that match with our long term vision. This is news that I have been so excited to share with you guys — some might even call it gigantic news— as this is an extraordinary development into Saffron’s future. $1,000,000 is an incredible amount of cash runway and allows us to expand the team and ensure our vision for Saffron is realized.

Psykeeper puts it best: Our intention is to position Saffron in the forefront of the DeFi landscape and plant it solidly on the same ground as the other industry leaders. Prominent figures in the DeFi space are taking notice of this, the innovations we’re creating, our long term plans, and are wanting to help push the project forward.

Long Term HODL Contract and vSFI

We are also creating a new contract — one for those who share our long term vision for SFI. Using this contract will lock SFI tokens up for 1 year. While the team contract has already deployed, the public SFI HODL contract will take another week after that (estimated completion is in early January) to be finished and we’ll make sure to highlight an article to let you know when it is. The public SFI HODL participants will receive benefits that the team does not — this public contract will be rewarding users with SFI for locking their tokens. The lockup period for the public Saffron HODL contract will be roughly one to two months shorter the team’s HODL contract. You can find more information about the contract here.

This also will introduce the vSFI token — this token represents voting power in Saffron governance. This enhances voting power of community participants that share the long term vision of the Saffron team.

Saffron Weekly will be adding a video format next week

In addition to having the traditional Saffron Weekly articles hosted here on Medium, we’re also going to be expanding the ways for our community to engage with us. We’ll be introducing a video format that narrates each Saffron Weekly as well as a weekly Q&A of questions that have been asked in the community. This will allow our community to be able to stay up to date with us while you’re on your commute, on a walk, at the gym, etc. We’re still hammering out the finer details of how the Q&A will work — and we will have a definitive answer next Saffron Weekly - but the general premise is that every Monday, users will be able to submit questions that I will then answer on camera that following Saturday. I’m excited to be able to reveal my ugly mug to our wonderful community and get to know some of you on a more personal level than just being an Australian moniker.

Epoch 3 ends next Sunday

Here’s a brief reminder that epoch 3 is more than halfway over at this point and will end on 12/27/2020 at 9:00:00 AM EST. Since last week, we’ve made additional improvements to the UI and it now correctly displays the APY for each of the liquidity pools. It’s not too late to join in!

Rari Capital Partnership

As we mentioned earlier, Rari Capital strives to be the smartest robo-advisor in DeFi. Rari currently has many strategies integrated such as Compound, Aave, Yearn, dYdX, and mStable with many more on the way such as Cream, Alpha Homora, Harvest, and more. Protocol integrations like these allow the Rari protocol to focus on earning users the highest return possible through their autonomous yield generating operation. Their core team has begun its transition towards full decentralization and governance with proposals already open for voting such as an updated fee structure, staking mechanism, Uniswap rewards, and more.

As Rari is focused on integrating the most creative strategies to provide the best yield possible, they are incredibly excited to be working with Saffron Finance on providing fixed rate investments based on the high yields that the Rari protocol is currently earning. The best part? These rates will continue to increase as strategies are added and become more defined.

With our continued partnership, you can expect to see in the future:

  • Native user interface accessible through Rari’s portal that will provide an easy entrance to Saffron’s tranches
  • DAI, USDC, and ETH pools used as yield earning adapters for Saffron
  • Constantly updating strategies to bring optimal and sustainable yield

Safety Precautions

It’s come to our attention that there is a telegram that is posing as a Saffron Finance official group. While imitation is the best form of flattery, these groups have less than altruistic goals in mind and are out to try and scam our users. There are ONLY two telegram groups — the official Saffron Finance group and the Saffron Soldiers group that’s meant to be a containment zone for price talk/speculation. Please be careful out there and if you’re ever in doubt, reach out to one of us on Discord. The unfortunate reality is that the bigger this project gets the more scammers it will attract.

Thank you guys for being apart of this incredible community and I hope that you all have a safe holiday season. I personally am over the moon about this coming year — both for Saffron and decentralized finance as a whole. We are living in exciting times, my friends.

Have something to add? Let us know what you think by joining one of the community channels below:

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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