Monthly Update: April 2023
Dear Fringe community,
Fringe’s v2 is just around the corner!
As we continue honing and fine-tuning our product’s v2, this month was full of work behind the scenes to polish its release. Let’s take a moment to catch up on all the significant developments that have taken place this April.
Throughout the month, the team has made significant progress on various aspects of the upcoming v2 release. One of the primary focuses has been zkSync, as the team works on a crucial fix in collaboration with the famous L2 to allow Fringe Finance and many other projects to launch there. The process is taking some time due to a The Graph integration that needs to be carefully implemented for security reasons. It’s worth noting that our enthusiasm toward launching on zkSync hasn’t died down. It remains an exciting chain with a clear, innovative vision, and its top lending platform sits at a TVL of around $10 million in funds, signaling that the competitive landscape is still young and up for grabs.
Another notable achievement is the development of a liquidation bot that integrates with third-party flash loan platforms. The team has built this along with liquidation bot scripts that continuously monitor borrowers’ positions to identify liquidation opportunities. The team is currently integrating this bot with a limited third-party flash loan and DEX platforms. Liquidators will likely want to extend this to other platforms on various chains.
Meanwhile, Fringe Finance’s v2 is now ready for an audit, with the auditors preparing to receive the code. The team expects to receive the auditing findings within a few weeks of the auditing process beginning (we’ll advise when this happens!) and then work on addressing any issues.
As you know, v2 will enhance the platform's features and improvements. As developments continue, the Fringe Finance team remains committed to providing an accessible, secure, and user-friendly DeFi ecosystem.
The team has been actively enhancing our online presence and strengthening partnerships. The website’s homepage has been updated, and there has been an increase in activity on Twitter, thanks in part to the Ambassador Program.
The team has proactively contacted collateral asset teams, informing them about the upcoming v2 release. We have also increased their outreach efforts to Key Opinion Leaders (KOLs) on Twitter, building awareness and fostering connections within the industry. Close communication with the The Graph team continues, showcasing Fringe Finance’s dedication to maintaining strong relationships with partners.
Finally, Fringe Finance has been listed on the XT exchange, expanding its reach and accessibility to new users.
The Ambassador Program has been instrumental in extending Fringe Finance’s reach by empowering community members to evangelize our message and values. This ground-up approach has led to increased engagement, enabling us to build stronger connections across various communities. We are grateful for our ambassadors’ dedication and thank them for their continued efforts in raising awareness and fostering collaboration within the Fringe Finance ecosystem.
Explain FRIN to your Frens
The mission of #DeFi for Everyone does not stop with our upcoming v2 release.
We put together this infographic featuring all of our future plans. From a censorship-resistant platform to margin trading and the USB stablecoin, we’re shooting for the stars.
See what’s next:
v1 vs v2
Check out this other infographic illustrating the critical differences between Fringe’s v1 and v2. Discover the upgrades and improvements that set v2 apart, and join the conversation on our journey across Ethereum, Arbitrum, Optimism, zkSync, and Polygon!
Collateral Asset Listings
In March, we expanded our list of accepted collateral assets with two new integration announcements! The new listings are:
Due to an issue with the token’s programming, the integration of $MKR still hasn’t been possible. Our team is working on addressing this so that the token can be listed sooner rather than later, although, given the available resources, this is not a high priority.
Community Call with Fringe Finance
We recently hosted a community call on Telegram, where we discussed a range of topics related to our V2 launch. This includes (but is not limited to) the new features and improvements that users can expect. Watch now and brace yourself for #DeFi for everyone!
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.