Trisolaris H2 Roadmap
TLDR: Continue to be the best DEX on Aurora & focus on bringing more value to TRI holders
GM fellow Nearians and Aurorians, it is that time again; while the market out there is always noisy, bustling and somewhat fatigued, let’s all take a moment to sit back, relax and let us show you how Trisolaris will be shaped in the next few months.
H1 Committed vs Delivered
Q1 & Q2 were honestly one of the craziest phases in the entire crypto history; the market went like a roller-coaster, there were some good moments, and there were also some hard times, but no matter what, we still delivered the majority of what we’ve committed.
Adaptability is the simple secret of survival.
After the implementation of pTRI, we had a hard time considering if it is still reasonable to apply the ve model for the TRI token. We want to keep it as composable as possible, where users can still accrue the DEX revenue while locking their tokens. But this was hard because in order to receive staking rewards, you need to have pTRI in your wallet, so if you lock it to the system, you no longer get the rewards for staking.
Moreover, there comes a moment we realise that the Aurora ecosystem may not yet be ready for this model due to its nascency. This model works for Curve because the DeFi ecosystem on Ethereum is abundant with lots of projects taking part in the war. We also looked at other DEXs on other networks that applied the ve model, and to be frankly, the model is not very effective for most.
After combining all the factors above, we’ve come to the final decision that we won’t be implementing the ve model moving forward, at least for this year.
H2 Roadmap
First, please don’t consider this a to-do list. Crypto moves fast, and we move fast too.
The market constantly changes, and innovations are born in a matter of seconds.
We won’t be publicly committing to specific timelines so that we can organize our development priorities based on market changes and developer resources.
The Tri-strategized vaults
Tri-strategized vaults will be our biggest product for the next few months.
Back in 2020 and 2021, DeFi was all about generating yield via governance tokens and many forms, such as liquidity mining, staking, bribing, lending and so on. These days, we can see that these models still work, but they have been somewhat diluted, and the numbers are not that lucrative anymore. Instead, the recent and likely narrative that will remain relevant in the future is earning real yield by performing complex actions across protocols.
For example, there’s a popular strategy called Folding, where users can utilize leverage for their trades without paying a funding rate. This leverage is derived from existing DeFi building blocks, such as Compound and Aave. While a few of these strategies are popular on chains like Ethereum, TriSolaris aims to bring them to Aurora/Near ecosystem users in a much simpler and user-friendly approach!
Essentially, from users’ perspective, you will only need to deposit funds into our vaults, and then underlying there will be advanced strategies running to give you the best yield possible throughout the ecosystem.
The team is currently developing, backtesting, and iterating on a few of these strategies; more details to come soon!
Decentralizing & Automating the process
This is our main focus in June and July; The Devops has worked tirelessly to think of ways to shorten and automate all the operations to run the DEX, as well as make it decentralized. We realized that the old process was not very efficient and was consuming too many developer resources.
For example, before, whenever there was a new farm or farms that needed to be adjusted, there will be one person only who had to create many PRs, run multiple scripts and implement changes across many repos. These changes were then verified by multiple team members before signing and approving them. This was somewhat centralized, unverifiable and time-consuming.
Now, the process would be:
- A team member makes a PR with a JSON config file for the required operation via GitHub which our interface is connected.
- GitHub PR automation job reads the JSON config file and prepares a multi-sig transaction to be signed by team members.
- Multiple team members verify the GitHub PR parameters align with the proposed multi-sig transaction. By shortening lead time in the repeatable process, team members can focus more on verifying parameters are set correctly before signing transactions.
- Multiple team members sign off the multi-sig transaction. After contract deployments, contract ownership is transferred over to our Ops multi-sig.
This leads to:
- No scripts being run by each team member locally
- Ops multi-sig has ownership of the contracts
- Parameter changes can be proposed via one JSON config file
- Automated, verifiable, repeatable, time-saving process
- Less amount of team members are required per operation for efficiency
The efficiency of this method has been proven, and we believe we are the only DEX operating this way. You can always follow our development on our GitHub page.
Cross-chain swap
Interoperability is the future.
As communicated earlier in the past, we are partnering with Axelar — the universal overlay network delivering secure cross-chain communication for Web3 — to enable cross-chain swap for Trisolaris users.
The partnership will utilize Squid, a liquidity routing module that enables cross-chain swaps and payments on Axelar, marking a huge step forward in the experience for Aurora users and the broader NEAR community. Squid will provide trustless liquidity and message routing via Axelar, allowing Trisolaris’s users to plug and play into liquidity on any DeFi app on any chain.
The integration with Squid is stated to go live later in the year, you can read more about this here.
Simplify & Unify the UI
Our UI/UX dev and FE engineer have been working on a revamp of the farm UI for a long long time and finally we will be able to see it live very soon. The idea of this is to make farms to be compacted cards, so users will be able to view a lot more at first glance; As every day, we are adding more and more of them, we thought of working on a nicer presentation model.
Also a result of this process, we will be removing the Manage page. The idea is to progressively migrate all of the operations from the manage page into the farms page so that users can do it all from the same place.
Continue to be the best DEX on Aurora
Trisolaris has been the number one DEX on Aurora since its inception, and we’d like to keep this position.
Talk the talk, walk the walk. We won’t be able to keep the throne if there’s no action.
The main liquidity hub on Aurora will be Trisolaris
In the upcoming months, we will partner with other cross-chain DEXs on other networks & X-chain protocols to provide liquidity for them, aka Trisolaris will be hosting their liquidity on Aurora.
This makes sense for both other DEXs and Trisolaris; since Trisolaris already has the liquidity, others won’t have to deploy another UI & provide their own liquidity on Aurora.
We want to be the main liquidity hub on Aurora and are working with all the DEXs/X-chain protocols on this.
The first result of this initiative is our partnership with Synapse.
https://twitter.com/trisolarislabs/status/1560657246119677953?s=20&t=tciEBd82vnNnETNj-nX4OQ
Support new projects launching on the ecosystem
As a NEAR & Aurora native and a DeFi primitive on Aurora, we feel like it is our duty and responsibility to support other projects that come behind. We are in contact with numerous of projects that are waiting for the right time to launch and couldn’t be happier to support them.
If you are a new project running on Aurora, feel free to reach out to us!
Conclusion
The first half of 2022 has been amazing to some extent. The road has always been bumpy and fraught with difficulties; but here we are, still moving forward.
The last half will be stronger and better; more utilities for TRI holders, more decentralization of the protocol, better experience, more features for users, and continue to be the leading DEX of the Aurora ecosystem.
We genuinely thank you for all the support since the inception; we couldn’t reach it til this point unless for your support.
Sincerely,
Trisolaris team.
