Monthly Update: February 2023
Despite its brevity, this month has seen significant progress in our mission to provide accessible and innovative DeFi solutions.
Expanding our list of accepted collateral assets, engaging in insightful discussions with industry experts, and continuing to build and conceptualize new features behind the scenes, Fringe Finance has continued to make strides toward our goal of creating a user-friendly and dynamic DeFi platform.
As we move forward into March, let’s take a look at everything that happened in the past month.
As several upcoming features of the Fringe Finance ecosystem are coming together nicely, we have decided to package them into a release to be known as Fringe Finance’s v2 during the first half of 2023.
Our team is working diligently towards smart contract audits relating to v2, refining new platform features, and addressing issues raised during testing. Expect an article dedicated to outlining our updated roadmap and what’s to be included in v2 and beyond very soon.
New Oracle Price Model
In addition to the features mentioned in the previous monthly update, the team is also developing a new oracle price model and a wrapped token gateway (see below).
The team will release a detailed description of the new price oracle model, outlining how it fits into Fringe’s new partial liquidation model and its other benefits, which include greater protections from malicious oracles and market price manipulation attacks.
Wrapped Token Gateway
Fringe’s new wrapped token gateway makes it easier for users to use their ETH assets as borrowers or lenders. Whenever ETH is deposited, withdrawn, supplied, redeemed, borrowed, or repaid, it is automatically wrapped and unwrapped to and from wETH.
This feature eliminates the need for users to manually wrap and unwrap their tokens, making it seamless to use ETH as a borrower or lender.
Features in Progress
In addition to the new oracle price model and the wrapped token gateway, Fringe’s development team is also working on other features, some of which will be included in v2’s release. These features include:
- New interest rate model
- Atomic repayments
- New partial liquidation model
- Decentralized backend
- Multi-chain rollout
- Support for LP token collateral
- Support for additional capital assets
- New leveraged trading platforms
We’re actively working on refining these features and addressing any issues raised during testing.
Moreover, we have noticed a lot of excitement surrounding our ZkSync integration. As such, we have been closely working with them to help them integrate The Graph, a decentralized indexing protocol, into the zkSync ecosystem. The Graph is a core integration for many projects in the DeFi space, as it enables efficient data indexing and querying on blockchain networks.
The integration will provide developers building on zkSync with improved indexing and querying capabilities, ultimately leading to more innovative and scalable DeFi applications.
Collateral Asset Listings
In February, we expanded our list of accepted collateral assets with three new integration announcements! The new listings are:
We are constantly expanding our platform to support a wide range of DeFi tokens, and will continue integrating more tokens in the near future.
AMA with Fringe Finance
We hosted a Twitter Spaces for our February Ask-Me-Anything. There, we discussed a wide range of topics related to Fringe Finance and responded to some of your most pressing questions. Click here to read the transcript.
Here are some of the highlights from this AMA:
- Our take on current market conditions.
- The timeline for our bootstrapping program.
- Why we’re considering both zkSync and Arbitrum for porting the PLP platform, with zkSync currently as a #1 priority.
- Our decision to choose zkSync over Arbitrum as the first protocol to port our platform onto.
- Our plan to make the $FRIN token available on zkSync and provide incentives for liquidity providers through the bootstrapping program.
In February, we had two informative discussions with notable guests in the DeFi space.
Firstly, we spoke with Filip from JuiceBoxDAO about all things DAO management. Hosted by Konstantin Shirokov, the conversation also delved into the latest developments in Fringe Finance and the future of DeFi in 2023. Listen to it on Twitter, or check it out on YouTube:
Fringe Finance and Juicebox DAO discuss DAO Treasury Management! — Decentralize It!
Later in the month, we sat down with Clayton Roche, the Head of Communications at UMA Protocol, to discuss the current state of the DeFi ecosystem and recent trends. We also explored the role of optimistic oracles and what the future holds for both UMA Protocol and Fringe Finance.
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.