Fringe Finance: January 2025 Monthly Update
Overview
As we move into February, the Fringe Finance team is busy working towards the v3 launch. In January, the demand for stables in our platform is really high, ensuring a high APY for lenders across most of our markets!
v3 Beta Testing on Mainnet
Moving closer to the v3 launch, we will launch a closed beta test on the Ethereum mainnet. We chose this path as the testnets have proven problematic due to unreliable dependent protocols (oracles, DEXes, etc). So, we will use an instance where users can safely test the new features using only a small amount of funds (on the order of $5–$10). This approach minimizes risk while providing a realistic environment for testing core functionalities.
In a few sentences, the user journey would be like this:
- Deposit Lending Assets: Users start by depositing a small quantity of lending assets.
- Deposit Collateral: They then add collateral to support borrowing or margin trading activities.
- Engage in Trading: Users can perform borrowing or margin trading actions, experiencing firsthand how the new v3 mechanics operate.
- Withdrawal: Finally, users can withdraw their assets.
These tests are meant to happen in short timeframes to ensure the same user can perform all steps without any issues. Your feedback during this beta phase will be invaluable in helping us fine-tune the protocol before a full-scale launch.
Next Steps:
- Define the best method to support a controlled mainnet beta test.
- Share detailed testing instructions with our user community once everything is set.
Consistently high APY for Lenders
On our current deployed version, even with the volatility experienced by the market in January, Fringe lenders (especially in stablecoins) enjoyed high APYs in their assets, thanks to a high utilization in our markets.
This shows a strong demand for those assets within Fringe! If you are interested, check the numbers at app.fringe.fi!
What is next?
v3 Audit: We are confident that we will be able to announce the start of the audits sooner than later. The process has taken longer than expected due to the high demand for the services of the partners that we trust will be able to perform a great job. Security is one of the main pillars of Fringe Finance, and we will take all the actions to ensure the platform is properly tested and audited.
ETH Denver: Our tech team will attend ETH Denver by the end of February, using this opportunity to engage with partners and interested protocols to integrate with Fringe Finance. Let us know if you will be around!
