Development Update
Hello SolFarmers, its been a while since our last development update! Lots have happened in between, including lots of milestones celebrated. Join us in this update as we wind down Solana Summer and prepare for fall.
Since July, we have shipped major features and minor upgrades that have seen our TVL increase drastically. In a rough chronological order, here are some of the features we’ve shipped and milestones we have achieved.
- Lending & Leveraged Farming
- Achieved $800MM+ TVL
- Over $100MM in lenders with a consistent 70% utilization
- Over 6000 unique positions
- Over 40 vaults created
- 16 leverage trading pairs with 15 lending assets
- Leveraged position management
- Saber x Sunny dual reward compounding
- Vault sorting system
- New wallet integrations
- Started “The People’s Farmer” award, to reward community participation
- Started “SolFarmer’s Education”, a series on farming knowledge
As this quarter ends, we have a few more features to push out. This includes an ORCA integration, more position management functions for leveraged farming and a landing page redesign.
The team has begun development on the v2 of SolFarm’s main protocols to streamline our codebase. This will include expanded functionality of lending and leverage, including collateralized borrowing. V2 vaults will have vault shares, which we will allow for collateralization in our lending protocol along with other existing collateral tokens in our protocol (ie. lending).
We have also begun design on the initial version of the TULIP staking system and related tokenomics. We will provide an update once this is ready.
SolFarm has offered seamless auto-compounding vaults with no compounding downtime since launch, with new vaults being created within 12–24h of a Raydium listing. With the introduction of Sunny’s farming pools, we were also able to integrate a new strategy which allowed Saber and Sunny rewards to compound the best yields for our users. As the yield space matures on Solana, so will SolFarm. Two new strategies are currently being designed inhouse that will allow us to explore yield strategies that do not just rely on AMM emissions.
Thank you for your continued support and we will see you in our next Medium post. As always, happy farming!
About SolFarm
📧contact@solfarm.io
