Community Call Recap

30th June 2023 — Audits, Innovations, and Preparations for Launch

During our latest community call, numerous important updates and forward-looking plans Unstoppable were discussed. These touched upon a broad spectrum of areas including, but not limited to, audit and development, liquidity utilization, cross-pair trading, and marketing strategies.

While the summary below should give you a good overview of the topics discussed, we can only urge you to listen to the full audio recording or read the detailed text transcript further down below. We think it’s absolutely worth your time!

Development and Audit

• The key event was the initiation of the audit for the spot and margin Decentralized Exchange (DEX) contracts. The previous weeks were dedicated to preparing these contracts.
• The development team managed to integrate much of the envisioned functionality, even some features planned for later iterations.
• The auto-compounding feature of Liquidity Provider (LP) positions was a significant development. This feature allows LPs to earn compound interest automatically.

Liquidity Utilization

• The system now includes adjustable parameters to manage the allocation of fees among LPs of different risk tiers.
• The goal is to optimize the utilization rate to strike a balance between liquidity provided by LPs and liquidity borrowed by traders.
• The system now incorporates dynamic interest rates that respond in real-time to trading activity.

User-Friendliness and ETH Wrapping

• Efforts are ongoing to make the platform as user-friendly as possible, including automatic wrapping of Native ETH to wETH.
• The approval of ‘delegate accounts’ will enhance security, allowing other accounts to trade on a user’s behalf but not withdraw funds.

Cross-Pair trading and Modular Contract Setup

• The implementation of cross-pair trading is a new feature in the contract version.
• The contracts have been set up in a modular way, which offers the flexibility to replace and upgrade certain elements as needed.

Delegate Accounts & Mobile App

• The concept of ‘delegate accounts’ was introduced, allowing the delegation of trading tasks to other accounts.
• There’s a vision for a mobile app that lets users trade from a whitelisted phone.

Spot DEX Audit

• The Spot trading contracts are currently under review as part of an audit process.
• Following the successful audit, the alpha status will be removed and an updated app combining both the Spot and the Margin DEX interfaces will be launched.

Multiplier Points and Staking

• There are ongoing efforts to devise a system that rewards both long-term and new participants equally.
• The team is considering using the Reliquary system by ByteMasons, which offers flexibility in defining how multiplier points accumulate over time.

Adoption

• Given the current challenging market environment, increasing adoption among on-chain traders is a priority.
• These traders are crucial as they help kick-start the system and provide important feedback.
• Despite the short-term focus, the long-term view acknowledges the on-chain trading market is minuscule compared to centralized exchanges and off-chain markets.
• Regardless of short-term market fluctuations, the platform’s ultimate success won’t hinge on immediate market trends.

Marketing

• The primary marketing strategy focuses on user acquisition.
• Updates on ongoing projects like the Odyssey 2.0 and an ambassador program are forthcoming.
• Potential partnerships with platforms like Twitter, YouTube, and other streaming platforms are being explored.
• The content strategy is shifting towards educational material.
• Planned events include an AMA with a large partner and more articles regarding Odyssey 2.0.

Referral Program & Trading Competitions

• The platform plans to promote growth through a referral program and continuous trading competitions.
• The referral program incentivizes new and referring traders based on the volume of trades and value they bring to the platform.
• The trading competition plan is to host recurring monthly competitions funded by a portion of the platform’s fees.

TradFi developments

• Progress in the traditional finance (TradFi) and banking sectors is ongoing but slower due to the different pace and regulatory uncertainties.
• The focus is on developing a bridge for crypto users for seamless FIAT and on-chain crypto assets transactions.
• Tokenization of deposits and other assets such as precious metals, commodities, foreign exchange, and potentially stocks and bonds is being considered.
• Despite the regulatory landscape’s lack of clarity, progress has been made, particularly in the on and off-ramp setup.

UI Changes

• Upcoming UI changes include the integration of the Spot DEX and the Margin DEX into a unified UI, along with quality-of-life improvements.
• The goal is to ensure core functionality is independent of any backend systems.
• Early versions of the UI will be released for community review and feedback.

Liquidity Bootstrapping

• The team has decided to provide initial liquidity for the Margin DEX from the treasury.
• Once trading volume begins, yields will be generated and listed on platforms such as DeFi Llama.
• As yields are demonstrated, it is expected that liquidity providers (LPs) will be naturally drawn to the platform.

Community Participation

• Community members are encouraged to participate in various ways, from contributing to the audit process, sharing information about the project on social media, providing feedback on the platform, and participating in the referral program.

Conclusion

Remember this is a collective journey. As our products continues to mature, active community participation and feedback will be paramount in shaping Unstoppable’s success. Whether it’s through participating in the audit process, spreading the word about the project, or providing valuable feedback, every contribution counts.

The project’s ultimate success will be a testament to our collaborative effort and a shared vision for a decentralized financial future. Let’s take this journey on together and join our community via our Discord and Telegram channels and make Unstoppable truly unstoppable together!

Detailed Transcript

Reminder: The detailed transcript is rewritten with clarity in mind, if you look for the exact spoken words please listen to the complete audio recording.

Allright, let’s get started and take additional questions as we proceed. I’ve noticed that we have some questions already on the text channels too, which is great. We’ll make sure to address all of them.

Let’s begin with a quick overview. The significant event recently was the start of the audit for our spot and margin DEX contracts two days ago. Consequently, the past few weeks have been focused entirely on preparing these contracts.

Development Updates

It has been a number of long days for our developers to get the code ready for the audit, properly commented, tested and include all the features we wanted to see on launch.

We’ve been successful in integrating much of the functionality we envisioned. Ultimately, we even managed to squeeze some things in we initially planned for later iterations. So, I’m genuinely satisfied with the current state.

Ideally, we could have benefitted from an additional week or two for more internal testing, but the audit is also meant to serve that purpose. We’re fully prepared for the auditors to find some areas needing improvement, which is part of their responsibility and what we’re paying them for. So, all things considered, we’re in a good place.

One of the features we’ve devoted considerable thought to, and which initially presented some uncertainty regarding its best implementation, is the default auto-compounding of our Liquidity Provider (LP) positions.

This feature ensures that any participant who provides liquidity to the single-sided pools on the margin DEX doesn’t need to return to the front-end interface to manually compound their LP positions. This functionality is now built into the system by default, leading to fully self-compounding positions for both the base LPs and the safety module. This is a development we thought was really cool.

Liquidity Utilization

We’ve established base LPs and safety module LPs, which essentially represent the low-risk and higher-risk tiers of liquidity providers. We’ve created a system where we can adjust the allocation of fees among these different levels. Rather than a 50–50 split, the safety module LPs will receive higher fees and returns for accepting loss risks. This means that should any liquidation process issues arise, the safety module carries the risk, but they are compensated for this risk with a larger proportion of the fees.

We’ve now implemented quite a few adjustable parameters that we’ll need to calibrate and tweak over the coming weeks and months. An example of this is the fees. Sticking with the topic of LPs, we can set a minimum borrowing fee. This will apply when there’s low utilization, such as when liquidity is provided by LPs and the first trader opens a leveraged position. This is the yield the trader would need to pay to the LPs. We aim to provide superior minimum returns to those LPs that they could get on a money market like AAVE, given our comparable risk profile, derived from single-sided liquidity provision. However, our model involves a slightly elevated risk due to under-collateralized loans on leveraged positions.

The efficiency of our liquidation process is key, needing to work even more efficiently than on platforms like Aave, for example. To balance this slightly higher risk, we need to offer attractive compensation to LPs. We plan to outperform money markets in terms of the minimum fee and will target a specific utilization rate that we can configure. This rate is essentially the balance between liquidity provided by LPs and liquidity currently borrowed by traders to leverage their positions. The challenge is in finding the ideal balance here. Initially, we’ll likely aim for around 80% utilization.

We want this percentage to be high for capital efficiency, allowing traders plenty of liquidity to borrow and ensuring that LPs earn a decent yield. However, we need to be cautious not to push this rate too high. If traders borrows liquidity from an LPs fully utilizing the liquidity, the LP cannot withdraw his funds until some positions are closed. So, to avoid locking in the LPs, we can’t let the utilization rate reach 100% all the time. If utilization surpasses that optimal rate, the borrowing fees will see a significant increase.

This can incentivize traders to close their open positions if the borrowing fee escalates too much. However, we expect this to be more influenced by the supply side. If the yield in our pools is attractive, we anticipate more liquidity will be added, which will consequently reduce the utilization rate.

Our aim is to strike the perfect balance, optimizing the entire system around that ideal utilization rate, with a healthy equilibrium between the borrowed and provided amounts.

This will require fine-tuning the target utilization rate and the exact borrow interest at that optimal level. We hope to create a self-sustaining and robust ecosystem, though we anticipate some adjustments will be required to achieve the right parameters.

Reactive Interest Rates

We have also successfully incorporated dynamic interest rates into our system. These rates respond instantaneously to any trading activity such as opening or closing a trade, as well as providing or withdrawing liquidity. Consequently, the interest rate adjusts automatically to the current utilization rate, providing real-time, responsive rates based on the prevailing circumstances.

While the APY (Annual Percentage Yield) is expressed as an annual rate, the underlying system operates at a much finer granularity. In fact, it keeps track of interest accumulation on a second-by-second basis.

User-Friendliness — ETH Wrapping:

One feature that we’ve built in right from the start, that came up in the community discussion some days ago, is the automatic wrapping of Native ETH to wETH. Many people are unfamiliar with the fact that numerous DeFi products, including all Uniswap pools, operate using Wrapped ETH.

The primary reason for this is that Wrapped ETH behaves much like any other ERC-20 token, like $UND or $wBTC or $USDC. Wrapped ETH allows access to functionality that wouldn’t exist otherwise. For example, with our limit orders on the spot side, if you set a limit buy order for $UND, you have to approve our contract to swap the ETH you hold in your wallet. This doesn’t work with Native ETH, as it lacks the approval functionality allowing another entity, be it an account or a contract, to spend your ETH.

In the ERC-20 format, you might come across this as the approval transaction that you must carry out. The purpose is to first grant permission to another party to spend your tokens, which in most instances is the swap contract or in this context, the limit order contract. This function is exclusively possible with Wrapped ETH.

However, many still predominantly think in terms of ETH rather than Wrapped ETH. Therefore, to simplify the process for both LPs and margin traders, we have already implemented a feature that allows you to supply ETH on the LP side or fund your trading account with Native ETH regardless.

The smart contract then deposits that ETH into the Wrapped ETH contract and executes the wrapping process on your behalf automatically. We then have the Wrapped ETH required to operate in the system and engage with the Uniswap pools, and so on.

Simplyfing User Experience

When it comes to user experience, our primary aim is to make the platform as straightforward as we possibly can. This is an ongoing task that needs consistent improvement over time. Also this is precisely where feedback from our community becomes invaluable to us, as it helps identify areas within our platform that might be causing friction. These points of friction provide opportunities for us to enhance the UX and make it as user-friendly as possible.

There may be instances where immediate simplification isn’t easy, such as with our limit order functionality. In these cases, we have to thoroughly evaluate available solutions, weighing their trade-offs, before choosing the one that best aligns with our goal of a user-friendly platform without compromising functionality.

Cross-Pair trading

Another exciting feature that we’ve been able to include into this version of the contract is cross-pair trading. This means we will not be restricted to just having pairs like wETH/USDC or wBTC/USDC. Instead, this will also enable a wETH/wBTC margin market directly on our platform.

This opens the door for us to operate cross markets. That allows us to execute the trades via Uniswap either directly between the pairs or via the USDC pairs, depending on the liquidity available at the time. We’ve that configurable in our swap router contract, making cross-pair margin a reality.

Modular Contract Setup

We initially thought that our first version would be quite rigid, identifying what works and what doesn’t, then take it apart and restructure it in a more modular way for version two. However, as we built it, we realised that even for this first version with a rigid setup there were some limitations we weren’t willing to accept. Consequently, we decided to create a fully modular system from the start.

Now, on the margin DEX side, we essentially have three main contracts:

• The first one is the ‘vault’ which holds all the assets, encompassing both the liquidity from the providers and the margin from the traders.
• The second is the ‘margin DEX contract’ which houses the trading logic. This contract facilitates various order types like limit orders, market orders, take profit, and stop-loss orders.
• The third contract is the ‘swap router’ which integrates with the DeFi liquidity on which we’re building, in the first instance, Uniswap v3 pools.

Given the modular structure, it allows us the flexibility to replace certain elements. For instance, if we find a better option than Uniswap v3 pools, we can simply implement a new swap router that supports aggregators or different liquidity sources.

Similarly, if we identify a gap in the trading logic, or if we wish to add advanced order types or other features, we can create a new version of that contract. Then, we can simply redeploy that one, connecting it to the existing vault.

This method enables us to update trading logic and features without the need for a full-scale manual migration of liquidity from LPs and traders. We can transition smoothly to new integrations and implementations of features over time. We’re very happy with how it turned out.

Delegate Accounts & Mobile App

One feature we’ve seen discussed in the community and managed to include in this version as well already is ‘delegate accounts’. With this feature, you can approve other accounts to trade on your behalf. However, these delegate accounts will have limited permissions — they can execute trades but they can’t withdraw the funds you’ve put into the margin DEX.

There are several potential use-cases for this. The primary one is enhancing safety and security. You could fund your trading account using a hardware wallet, which is recommended for safety, but then delegate trading tasks to your ‘hot wallet’. This allows you to keep using funds from your hardware wallet without the hassle of signing transactions frequently with it, which can be a bit cumbersome. The hot wallet can execute tasks like opening trades, closing trades, placing limit orders, setting take profit or stop-loss orders and more, but it can’t withdraw the funds. So, if it gets compromised, your funds are still safe.

Another use-case is for less experienced traders. If you know someone who is proficient at trading while you are not, you can whitelist them as a delegate. They’ll be able to trade on your behalf, but their permissions are limited and they can’t withdraw your funds. Your funds always remain under your custody.

A third exciting use-case would allow us to develop a simple mobile app that lets you trade from a whitelisted phone while you’re on the go. This mobile app, in its first iteration, would create a new private key in the background that key as a delegate on your main account. You won’t have to worry about backups, seed phrases, or even having a crypto-enabled browser or ETH for transaction fees the way we envision it.

In this setup, we could use a form of account abstraction. You would simply open a web app on your mobile browser, like Safari or Chrome. Once the private key is whitelisted on your main account, you can trade from there, with the private key of the mobile app connected to your Face ID, or other phone security measures. So for signing a transaction, you could use Face ID, and a provider in the back end will bring the transaction on chain and execute the trade for you. We’re very excited about this and hope to begin work on it soon.

Spot DEX Audit

Our spot trading contracts, including those for limit orders and DCA orders, are under review as part of the Sherlock audit as well currenlty. Once completed, it will enable us to remove the alpha label warning in our app. So far, we’ve noticed many people trying out the Limit and DCA orders typically with smaller amounts, which is understandable given the circumstances.

Upon the successful completion of the audit and the removal of the alpha status, we will roll out the updated app. This app will merge the interfaces of both the Spot and the Margin DEX, hopefully prompting more users to take advantage of these features more frequently.

Multiplier Points and Staking

We have received a number of questions about staking and multiplier points. We’ve invested quite a lot of effort into these, mainly on the conceptual aspects of these features, aiming to devise a system that would reward both long-term and new participants in a balanced manner.

Currently, we’re working with the team from ByteMasons, who’ve created a product called Reliquary. This product allows us to set flexible tiers which, based on the duration of staking positions, would allocate more weight in the distribution of fees. It’s a variant of multiplier points but with enhanced flexibility that lets us define exactly how the accumulation of multiplier points for positions will operate.

It won’t just be a straightforward linear approach like the one used for example by GMX, which set a 100% per year rate. Instead, the Reliquary system allows us to introduce greater flexibility, such as starting with a lower rate for short-term positions, followed by a significant increase for positions held for several months. After about a year, we might reduce the rate so that newer positions have a chance to catch up and achieve a similar weight to older ones.

The conversation with ByteMasons is still ongoing, but it looks promising that we’ll be able to use their system. However, we do have some unique cases to consider, such as the distribution of the real yield, which ideally we want to deliver in the form of the original token it was collected in.

For instance, the system will collect fees in various forms like USDC, ETH, wBTC, and other markets we’re planning to introduce. We aim to distribute these collected fees to stakers directly in their original form, allowing them the freedom to decide which assets they prefer to hold or swap. We are excited about this solution and are in ongoing discussions with ByteMasons to ensure this system will be the most suitable one unless we encounter any issues during its deployment or when integrating it with our contracts.

Fee Distribution & Flywheel

Another one of the adjustable features in our DEX pertains to the distribution of trading fees. We can decide if we need to subsidize LP yields initially to enhance attractiveness, or, in the case that isn’t necessary determine where these fees should be directed instead. Especially in the initial phase, our plan is to channel a portion of these fees back to what we term the ‘trader flywheel’. We aim to boost adoption and to make our platform appealing, so we will be offering kickbacks through both a referral program and a continuous trading contest.

UND and eUND stakers should also be beneficiaries of a portion of the fees. All of this is now adjustable. We’ll launch with a particular configuration, collect data over the subsequent weeks and months, and then, in consultation with the community, assess and make necessary adjustments.

The current system, as it stands, gives us significant flexibility to ensure growth. Our goal is not to be one of those projects that experience a short-lived four-week ‘success story’ due to promising an airdrop and some wash trading, only to fade into obscurity after. Instead, we’re focused on building a sustainable, ongoing system that provides value for everyone — from traders and LPs to protocol stakers and the community. Our aim is to achieve this objective, and we’re committed to not stopping until we did exactly that.

Adoption

Talking about adoption, we think everyone is aware of the current challenging market environment and sentiment. Encouraging adoption among the few remaining on-chain traders still active after the events of recent months and the past year will be a challenge. However, in the context of our platform, this forms an interesting dynamic.

In the short term, we want as much adoption as possible from this group, as these users are crucial for two reasons. Firstly, they kick-start the system and start generating revenue and fees. Secondly, they provide us with invaluable feedback about what’s working well, areas where we need to improve, and even suggestions for potential new features.

However, if we shift our view to the mid and long term, we are aware that the current on-chain trading market is miniscule compared to the likes of Binance or centralized exchanges in general. If we extend the comparison to off-chain markets such as the FX market and real-world assets, the scale of on-chain trading becomes barely visible.

Hence, while we’ll be focusing primarily on these users over the coming weeks and months, we understand that what happens in the short term will not significantly impact our long-term goals. With recent developments like the Bitcoin ETF appearing promising, and new money flowing into the market, we hope to see a long term shift in market direction and sentiment.

However, if the market doesn’t pick up or even experiences a downturn, we are not overly concerned. We have ambitious plans and target a variety of markets beyond the initial smaller crypto market. Our mission is to continue building and delivering, and the ultimate success of our platform won’t hinge on the events of the next few weeks.

Marketing

As the launch draws closer, our primary marketing strategy will emphasize user acquisition. The work on the Odyssey 2.0 continues, with scheduling being a complicated process with the amount of people involved. However, progress is being made on that front. We are also working on the concept for an ambassador program, expecting to share more details about this by mid-July.

We’re also actively exploring potential partnerships across a variety of platforms, including Twitter, YouTube, and possibly streaming platforms. With the aim to increase activity and reach. Overall, we’re looking into diversifying our content.

Simultaneously, the in-house content strategy is focusing more on educational material. This will predominantly take the form of articles and Twitter threads, largely revolving around explaining the primary product, its features, and principles. The intention is to present all related aspects as clearly and simply as possible, especially for newcomers.

Additionally, there are plans for an AMA with a large partner, along with more articles regarding Odyssey 2.0. We also plan on conducting weekly AMAs with the different protocols participating in the first season of The Odyssey. This is anticipated to stimulate interesting insights and more social media activity across the various communities involved.

Referral Program & Trading Competitions

As mentioned earlier we also plan to aid the marketing with adoption growth programs on the platform. The focus is on two key strategies. The first of these strategies is the introduction of a referral program. This initiative will provide incentives both to the new traders who are producing volume on our platform and to those who referred them to us.

Every user will have the ability to generate a referral code, which they can then share among potential traders, friends, or anyone they believe might benefit from our platform. Based on the volume of trades these referred users generate and the overall value they bring to the platform, those who referred them will receive kickbacks.

The infrastructure we have established allows us great flexibility with this program. After launching the program with an initial setup, we will assess its effectiveness and make necessary adjustments based on the results and feedback we receive. This flexibility ensures that we can continuously modify the program, experiment with different approaches, or add new features as required, to ensure the referral program remains effective and beneficial to our platform and its users.

In addition to the referral program we planned a second initiative, which involves continuous trading competitions. Unlike other platforms that host a singular, large-scale trading competition to momentarily boost volume, we plan to create a recurring monthly competition.

A portion of our platform’s fees will contribute to a prize pool. While we will fund this prize pool initially for the first month, our goal is to ensure the system’s sustainability over time. We envision that as trading volume increases on the platform, it will naturally replenish the prize pool, which can then be utilized to reward the most (and potentially least) successful traders. We are currently exploring the best ways to measure performance to ensure a fair and non-exploitable system.

Our primary focus is to establish long-lasting systems that foster steady growth over time, rather than solutions that produce quick, fleeting success followed by rapid decline to obscurity. We are dedicated to constructing a system that provides value to all its participants, supporting steady and sustainable growth over the long term.

TradFi developments

We’ve received a few questions about our progress in the traditional finance (TradFi) and banking sectors. The pace in these areas is drastically slower than what we’re accustomed to in the crypto world. I’m grateful that George and Felix have taken on much of the legwork there sparing me from these long meetings.

However, we’re making progress towards identifying our ideal setup. As mentioned in a previous community call, we’ve realized that we’re catering to two use cases, each with its unique but partially overlapping needs.

Firstly, we’re focusing on developing a bridge for crypto users, specifically traders, between FIAT and on-chain crypto assets. This involves creating an efficient on and off-ramp system for seamless transactions, ideally integrated directly with credit card systems, Apple Pay, Google Pay, and similar services.

Secondly, we’re considering tokenizing deposits and other assets such as precious metals, commodities, foreign exchange, and potentially stocks and bonds. This use case does overlap with the first but also extends far beyond it.

This second aspect is progressing at a slower pace. Our current strategy is to prioritize launching the on and off-ramp for crypto traders as soon as possible, without letting the more complex process of tokenizing assets delay us moving forward. We’ll continue to add tokenized assets as we secure the right partnerships and determine the specific requirements set forth by regulators.

Unfortunately, the regulatory landscape is still rather unclear worldwide. We’re consulting with various legal experts, but often we end the call without concrete actionable conclusions due to the uncertainty in the regulations. This lack of clarity has made the process somewhat frustrating.

Nonetheless, we’ve made significant progress in developing the on and off-ramp setup. We’ve identified the type of setup we need, and now we’re in the process of finding a partner to help with incorporation and licensing. Once this step is complete, we’ll be ready to launch our services in this area.

UI Changes

We have received some questions related to the upcoming User Interface (UI) changes that are to be implemented with the mainnet deployment of the Margin DEX. With the coming release we re-implemented the whole front-end of the Spot DEX and naturally all the new features of the coming Margin DEX into a unified UI. We also added some quality-of-life elements, like a visible order history. That was a bit opaque in the current UI, as once the limit or DCA order was completed, you couldn’t see them on the front end anymore. This is rooted in the front-end only displaying the things that happen on-chain, as for trading history it would rely on a backend service.

We are really careful about implementing any back-end reliant features. We didn’t choose the name Unstoppable for fun, we really want to build unstoppable software. The goal is to ensure the core functionality is independent of any backend systems run by us or anyone else, ensuring user access even if all servers go down. However, some enhancements, or ‘quality of life’ features, do require backend support for added transparency. For example, users can now see the specifics of their past limit orders or the exact prices at which these orders were executed, this trading history feature will rely on a backend momentarily.

Despite the backend support for these features, the core functionalities will remain independent, ensuring users’ ability to use contracts and the front end freely. The backend simply enhances the user experience by providing additional, albeit not absolutely essential, information.

We are now focusing on reimplementing the margin side of the platform, with this process expected to be complete in the coming weeks. Unlike the current version, the new UI will integrate both aspects of our platform, the spot and margin trading, eliminating the need for separate URLs and web apps.

Another challenge we’ve tackled is data collection for all tokens and pairs, not just whitelisted ones. This was a complex task due to a variety of reasons that Andi will explain in detail in a future community call. However, we’ve now found an effective solution, and the new UI will likely feature all spot trading pairs when it launches.

However, for the margin side, only those markets with sufficient underlying Spot market liquidity will be whitelisted to guarantee reasonable slippage, liquidity for our traders, and safe liquidation for our liquidity providers.

We anticipate releasing an early version of the UI for our core community to review within the next two weeks. While the design may not be finalized, we look forward to your feedback on functionality and flows, which will help us refine the product. We’ve also been working intensively on our brand, unstoppable, and our messaging. We have identified our target market and demographics, and are aligning our efforts to cater to these users.

We have a meeting scheduled with a designer next week to discuss new design concepts and revamp our current aesthetic. As part of our broader strategy, we’ll continue to overhaul our website and apps, while synchronizing these efforts with our marketing strategy. Our ultimate goal is to grow our user base and our market in the right directions.

Liquidity Bootstrapping

Regarding the liquidity bootstrapping for the Margin DEX, we have invested a lot of thought into devising the best strategy that aligns with our goal of creating a self-sustainable, healthy ecosystem. The need for initial bootstrapping is indisputable, and we have decided to take on this task ourselves.

We plan to provide the initial liquidity on the Margin DEX from our treasury, which proves to be beneficial for a few reasons. By doing so, we don’t have to incentivize external parties to provide liquidity, sparing us from entering potentially expensive or unfavorable agreements. This approach also allows us to steer clear of predatory market-making offers that may not have the community’s best interests at heart.

Once the initial liquidity is set and trading volume begins to roll in, yields will be generated. At this point, we will aim to integrate with platforms such as DeFi Llama, where our yield options will be listed and aggregated along with others in the DeFi space.

When it becomes evident that attractive yields are obtainable through Unstoppable, we expect that liquidity providers (LPs) will be naturally drawn to our platform. Our offer stands out in that it is single-sided, carries no counterparty risk to the traders, involves no impermanent loss, all while providing good yields. It’s an attractive proposition. So as soon as we can demonstrate that there are substantial yields to be made by attracting some traders and generating volume, we believe that the liquidity side will naturally flourish.

Our focus will then shift primarily towards attracting traders to our platform. Once we succeed in drawing them in, their trading volume and fee payments will generate yields for LPs. This should create an appealing environment for liquidity providers, and we hope to achieve a healthy balance between trading volume and liquidity.

How to help

The question on how to contribute as a community member is quite important, thank you for that. If you happen to be a developer, now is a great time to join us at Sherlock to assist with the audit. In fact, by identifying and helping resolve issues, you stand a chance to earn a share of the $36,000 in prize money we’ve set aside to ensure the safety of our contracts.

For those who are not developers, you can significantly contribute by spreading the word about our project. A recent example of such contribution is the article from Blockmates that provided an update about our community. By sharing such content on Twitter and other social media platforms, you help raise awareness of our project among traders and investors alike, fostering growth in our community.

Once we launch the DEX, we encourage you to try out our platform and provide feedback on what works well, what doesn’t, and any suggestions you may have. We’ll also be launching a referral program that you can participate in. By creating and sharing your referral code, you can help us promote our platform and foster adoption.

As previously mentioned, building this community will be a challenge, but we’re confident that with a supportive community like ours, we can successfully tackle it.

End of Call

It seems we’ve addressed all the topics for now. We sincerely appreciate your attention and time. If you or anyone else couldn’t make it to this conversation, don’t worry, a recording will be accessible later. We assure you of timely updates regarding the progress of our audits and other crucial developments. We’re looking forward to launching our unstoppable product soon, which promises to be a thrilling journey. We wish you a fantastic weekend and look forward to interacting with you again soon.

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