Q2 Update: Markets Team
Message from Head of Markets at Secured Finance
Dear Secured Finance Community Members,
As we conclude Q2 of 2023, we are thrilled to share a detailed update on our journey during this pivotal time. We’re optimistic despite the challenging market landscape, as the Secured Finance team continues to work tirelessly on improving the platform in preparation for our imminent mainnet launch. We’ve reached significant milestones in this quarter, outlining a promising path forward for our community.
We are immensely pleased to update you on the significant strides we’ve taken in growing our user base and community. As we reached the end of June, our community growth exceeded our forecasts, a testimony to the valuable contributions, active involvement, and insightful feedback from each one of you. With over 13,000 platform users now, your enthusiastic engagement serves as a powerful catalyst for refining our platform. We perceive your unwavering commitment as a compelling indicator of the vast potential of the Secured Finance Protocol.
Throughout Q2, we have focused on several critical enhancements to our market design. Here are the key updates:
- Price Stability Mechanism: We’ve implemented a crucial modification to our platform, a price stability mechanism designed to limit one-block movement. This key enhancement not only bolsters our platform’s stability during volatile periods but also acts as a strategic measure against potential flash loan attacks, fortifying our defense against such unforeseen exploits.
- Fee Formula Upgrade: Following the change of the transaction fee scale, we’ve upgraded the fee formula for liquidators. This move aims to encourage liquidation actions that protect our platform from insolvency risks.
- Quality Assurance Testing: We’ve conducted thorough quality assurance testing and polishing for the roll and the Itayose process, ensuring their robust performance.
- Medium Article Series: We are excited to share that our in-depth article series, ‘Revolutionizing DeFi: A Sneak Peek into the Unique Features of Secured Finance’, has been published on Medium. This comprehensive series sheds light on the unique and innovative features of Secured Finance and our dedication to revolutionizing the DeFi landscape. Aligned with the Itayose Campaign, the series further elucidates the intricate workings of the Itayose process, facilitating a more profound understanding for our users and the broader DeFi community.
Among the highlights of Q2, our participation in several significant events truly stood out. Foremost, the Ethereum Global Tokyo event held in April was an immense success. Not only did we proudly return as sponsors to the hackathon where we had been awarded a prize two years ago, but we also hosted a series of impactful side events that resonated strongly with the community. The success of these events amplified our presence and fostered deeper connections within the ecosystem.
Another key triumph of the quarter was the effective implementation and functioning of the Roll and Itayose process, synchronized with the user campaign. It was heartening to witness the robust user engagement for the Itayose — a once-a-quarter event — attesting to its success in anticipation of our mainnet launch. The active participation and enthusiasm of our users served as an undeniable indicator of our readiness for the next significant step in our journey.
As we prepare to launch our mainnet, we remain committed to nurturing our thriving community, refining our platform, and aligning ourselves with the vision of transitioning to a DAO in the future. We are incredibly thankful for your support and contributions, and we look forward to further building and strengthening the Secured Finance ecosystem together.
We want to express our deepest gratitude to every member of the Secured Finance community. Your participation and feedback have been vital in shaping our progress and the platform itself. As we move closer to the mainnet launch, we will continue our dedication to building a platform that caters to your needs and reshapes the finance world.
Stay tuned for more updates, strategic partnerships, and additional feature enhancements as we continue this exciting journey.
Thank you once again for your unwavering support and commitment to the Secured Finance ecosystem.
Head of Markets Division at Secured Finance
About Secured Finance
Secured Finance is revolutionizing the digital asset landscape by constructing interbank-grade capital markets. Our innovative protocol is designed to offer a secure, flexible, and scalable fixed-income solution for digital assets. Comprised of a team of expert investment bankers, we are committed to integrating traditional finance wisdom into the realm of cryptocurrency and digital assets.
Stay informed and connected with us for further information and updates.