The third quarter of the year has come and gone and with it Snowball has grown alongside Avalanche to become an emerging player in DeFi. We’ve revamped our website, added dozens of new strategies, assisted with Sherpa Cash’s IDO, launched a new StableVault, achieved a max TVL of over $100 million, and nearly tripled the size of our team.
However, despite these accomplishments, we realize it is important to continue building and innovating. Snowball has a long way to go in actualizing its vision as a DeFi hub on Avalanche and we are excited for the journey.
Today we are pleased to announce our Quarter 4 Roadmap. In this roadmap we lay out the key initiatives being worked on by Snowball as well as other features expected to be completed during Quarter 4.
Website Updates
Quarter 3 was a big quarter for Snowball’s website. We launched version 2 of our webapp.
In Quarter 4, we will continue to make quality of life improvements to the website that will make the user experience even better. Some of these features will include dark mode, an update to the xSNOB page, and an update to how SNOB reward allocations are shown on the website.
One-click-deposits
One-click-deposits have been under development for a long time now. The main holdup has been figuring out a way to cleanly show this option to users on our website that will not be confusing.
In Quarter 4, we plan to have one-click-deposits live. This means that you will only need AVAX to deposit into our strategies. We expect this feature to dramatically increase the usability of Snowball for new entrants in the crypto space.
New Compounding Strategies
Snowball’s first product was an auto-compounder on Avalanche. As this continues to be our flagship product, we plan on releasing new compounding strategies as they emerge.
Currently the three platforms we compound include Trader Joe, Pangolin, and Benqi. However, in the following quarter we plan on adding new platforms. These new platforms include new Avalanche Rush protocols moving to Avalanche, Penguin Finance, and other new protocols yet to emerge.
New StableVaults & Metapools
The s4D StableVault was created in Quarter 3 to replace the old s3D and s3F vaults. This was necessary so that the new vault would be compatible with the new Avalanche Bridge tokens. The s4D StableVault has already amassed over $5 million TVL.
Future products this quarter will include StableVaults for assets other than stablecoins (think BTC or ETH) as well as metapools. Metapools allow Snowball to group new assets with current StableVaults. An example would be pairing the s4D StableVault with USDC.e. Metapools will allow Snowball to expand its product line and to support more stablecoins without creating new StableVaults.
Liquid Staking
Following governance proposal 8, development on a liquid staking initiative for AVAX has begun. The architecture and programming of this project is nearly complete. Liquid staking will allow people to stake their AVAX and in return receive LAVAX, which they can deposit elsewhere. Additionally, the protocol will include a governance token called LAVA.
NFTs
Past NFTs on Snowball haven’t been more than a few images that people could collect for sentimentality. We don’t believe this is necessarily a bad thing; however, our future NFTs will be more integrated and will have more functionality.
Some of the new NFTs for Snowball in Quarter 4 will include NFTs redeemable for merch and NFTs distributed to members of a new club called the 2 Year Club. These NFTs will be rarer than traditional NFTs and provide users with more than just an image.
Better Statistics
In the coming quarter we plan to release new statistics for our compounding page and xSNOB page. Some of the statistics to look forward to are lifetime earnings stats, compounded earnings stats, and past and projected revenues for xSNOB holders.
Audit
Safety and security is taken very seriously at Snowball. We have begun talks with Halborn and have secured a spot for an audit that will start toward the end of November.
This audit will cover all of Snowball’s existing contracts, including our new GaugeProxyV2 and Governance contracts that were created in-house at Snowball.
About Snowball
Snowball is an auto-compounder for liquidity rewards and an automated market maker (AMM) for stable assets. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.
