Monthly Update — August 2023

Fringe Finance
6 min readSep 1, 2023

Fringe community,

With v2’s audit underway, we dedicated this month to making critical decisions for our multi-chain future, releasing detailed breakdowns of our upcoming features, and building v3’s.

Let’s take a moment to dive into the developments that have taken place this August.

Tech Updates

Key definitions for our zkSync release

As we move closer to our zkSync release, we finalized two crucial decisions:

  • Pyth will be our primary zkSync oracle source, as Chainlink will not be present for zkSync at our release. This means Chainlink, UniV3, and Pyth will be oracle sources in our new oracle model implementation. Given the different availability of price oracles on other chains, our goal is greater flexibility. We may continue to expand the list of price oracle sources.
  • As for our zkSync DEX aggregator, and for similar reasons, we will use OpenOcean. We will use Paraswap on other chains, so this Open Ocean integration gives us greater flexibility in this multi-chain world, given the availability of liquidity aggregators on different chains.

Fully-updated documentation

Fringe’s platform documentation is now perfectly up to date with the project’s state, available info, and goals. We will be pushing all future core updates about the project to the documentation, rather than constantly updating the whitepaper as we previously have. Whitepaper edits will be reserved for directional changes and pivots, which will become rare as we solidify our position in the DeFi lending market.

We encourage you to regularly check the documentation for the latest updates about Fringe Finance! We’ll, of course, also ping you whenever an important update happens.

v2 demos

We’ve created a set of carefully made video tutorials for Fringe users! In these videos, our CTO, Brian Pasfield, walks you through the upcoming features in Fringe v2. Each video takes a closer look at how these new features work.

Brian shows how the features function by demonstrating them while explaining the details. This helps users see the features in action and understand how each functionality operates within the v2 ecosystem. These include:

Amplify leveraged trading

Amplify empowers traders to gain leveraged long exposure to assets in a decentralized platform.

Our latest video demos how the Amplify Platform lets users magnify asset exposure through leveraged long positions, multiplying potential gains from the market moving in their favor. See how to choose an asset, set a margin and multiplier, and have Fringe Amplify create a trading position proportional to the margin multiplied by the selected value.

Check it out:

Margin trade

Brian gives a firsthand look at the capabilities of Fringe v2’s upcoming leveraged trading platform, Margin Trade.

He demonstrates the ins and outs of Margin trade, a leveraged trading platform that gives users the flexibility to choose their own pair of assets to trade against, rather than just trading against the US dollar, expanding the range of available trading options.

Multisig wallets

Watch our demo of Fringe’s multisig wallets, powered by WalletConnect, for DAOs as we gear up for the official release.

Collateral asset de-listing

Due to oracle feed availability changes, Fringe v1 de-listed the following collateral tokens:

  • $OCEAN
  • $FOX
  • $IOTX
  • $OMG
  • $DODO
  • $REN
  • $NMR

These de-listings are due to the retiring of price feeds for the above assets. One reason we’re extremely excited about our upcoming oracle model implementation is that we will reduce our reliance on third-party solutions. Once Fringe’s new price oracle model is released, some de-listed tokens may be reinstated.

New partial liquidations model

Don’t miss out on the full article!

This month, we released an article diving into Fringe’s new partial liquidations model and its benefits. This latest liquidation model isn’t just an upgrade; it’s our commitment to distinguishing Fringe as an inimitable ecosystem within DeFi.

Partial liquidations lead to smaller collateral price impacts and shield the market from cascading liquidations, maintaining a steadier price equilibrium. More liquidators can now jump into the slower-paced Fringe liquidation arena, fostering fiercer competition and better collateral liquidation prices. Borrowers stand to gain through lesser liquidation penalties, retention of part of their trading position, and lower liquidator reward fees.

Fringe’s Partial Liquidations Model is a pioneering mechanism that promotes a more efficient liquidation process, drastically reducing the risk of insolvency and boosting Fringe Finance’s platform stability.

This, along with our revamped price oracle model, ensures better liquidation support, aiming to cut third-party reliance, shield lender assets, and curtail borrower expenses.

Read the full article to understand how our new liquidations model works.

Ecosystem Updates

Debuting our Zealy page and rewards

We’re thrilled to announce that Fringe now has its very own Zealy page. This means you can dive into a new dimension of interactive quests designed exclusively for the Fringe community to earn $FRIN rewards.

As you’ll see on our page, our goal with this is to start bootstrapping v1 liquidity. It’s a thrill to witness your deposits coming through.

Complete quests to earn $FRIN and participate in boosting Fringe’s ecosystem. Go to https://zealy.io/c/fringefinance/questboard.

Video message from Fringe’s CEO, Paul Mak.

This month, we shared a special video message directly from founder and CEO Paul Mak.

Mak Group is releasing a new project focused on Web3 gaming, BIGA Arcade, to onboard the next million users to crypto. The mechanics are simple: incentives are aligned so gamers are rewarded for their skill, at multiple levels. The ultimate goal is distributing earnings to as many gamers as possible, creating a seamless path from gaming to DeFi.

BIGA will allow gamers to either offboard their earnings to a bank account, or earn yields. This is where Fringe comes along. Yield-seekers will be given a seamless way to move their earnings directly into our platform to earn yield, completing the GameFi-DeFi transition.

Note that both projects’ development teams are independent and will continue to be.

If you’re interested in being one of the first BIGA users, you can join the waitlist at https://bigarcade.org.

See the full video at https://twitter.com/Unbankt/status/1689870020497838080

Meanwhile, keep an eye on both of our Twitter accounts. There might be more coming soon!

Fringe on DeBank

Fringe is also live on DeBank! Now, Fringe users can track their portfolios, and access data analytics for lending, stablecoins, margin trading, and more. Users can also contribute to the platform by submitting proposals, and earn rewards for their attention.

Follow Fringe on DeBank here: https://debank.com/official-account/112694/stream

Fringe on Dapplist

Furthermore, Fringe is on the shortlist to feature on Dapplist — a user-curated directory for decentralized apps. Weekly, projects vie for votes to secure listings as community favorites.

Your vote can spotlight Fringe as a top dapp, enhancing its Web3 presence. Support us with an upvote: https://thedapplist.com/#VotingProjects

Ape into zkSummer Panel

Fringe joined the Ape into zkSummer panel with Across Protocol, where we discussed the zkSync DeFi ecosystem. Listen to the full Spaces recording here: https://twitter.com/i/spaces/1RDGlazQgBDJL?s=20

imToken Guest Appearance

Fringe CTO Brian Pasfield will also join imToken Partnerships this Thursday on Discord to discuss DeFi with the imToken community. Use the Discord app and scan the QR code here to participate: https://twitter.com/imTokenOfficial/status/1696825327396528260

Decentralize It! podcast.

Konstantin Shirokov, Marketing Lead, hosted a podcast all about yield farming through bear seasons. Join us as we dive into real yield farming metrics with Red Forman of Harvest Finance.

Full episode here:

Bear Seasons w/Havest Finance: Real Yield, Growth & More

AMA with Altcoin Edge

Our recent AMA on all things Fringe Finance with Altcoin Edge is now on YouTube! Listen to the full episode:

About Fringe Finance

Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.

For more information on Fringe Finance, visit our website.

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Fringe Finance

Decentralized financial ecosystem unlocking the dormant capital from traditional financial markets and all-tier cryptocurrencies. #DeFi lending & borrowing.