Monthly Update: June 2022
What a month.
Through this very busy June, we finally launched the Primary Lending Platform, released our audit statements, held an epic Metaverse Yacht Party, and advanced towards the Staking and USB Platform.
Let’s have a quick look at what happened, as well as give you a scoop of what’s to come.
Release of our audit statements
On June 9th, HashEx and CyberUnit’s Audit Team released their audit reports for the Primary Lending Platform. No findings went unaddressed, with all the important feedback points either side-stepped or fully resolved.
Completing these audits granted us the green light we were waiting on to launch the PLP, and launch it we did.
So naturally, a party was to happen next.
Platform launch party
The PLP’s launch was a much-awaited accomplishment, deserving a proper celebration. Revealed back in March, our Launch Yacht Party in the Metaverse finally received a date and time: June 24th, 11:00 PM GMT, exactly as the Primary Lending Platform went live.
In case you missed it, here are some of the party’s highlights:
The party began with a brief interview with our CTO Brian Pasfield and Content Manager Carlos Cano, followed by a platform demo.
After the demo, we held a Telegram AMA directly with our community and most team members. This AMA was also streamed into the Metaverse, and you can watch it below.
Finally, a professional set by Alar DJ was a great way to end the party. In the words of one of our guests: “someone buy this man a meta-drink!”.
You can watch the full party and re-listen to DJ Alar’s music on the Party’s full recording.
The Platform’s Debut
At last, the Fringe Finance Primary Lending Platform has been released and operates at full steam. Collateral and stablecoins have been deposited, and we’ve also seen the first loans and liquidations. You can already deposit your $USDC to collect interest or use your $LINK, $MATIC, $REN, $BNT, $OGN, $IOTX, or $TOMOE to collateralize $USDC loans. This message has been echoed by most of these partners, a process that will continue based on each project’s marketing schedule.
Anecdotally, we’ve seen borrowing APY reach a maximum of 114% and a minimum of 0%, signaling how this early stage of the platform is perfect for seizing opportunities.
What’s next for Fringe
Saying this month was eventful for Fringe would be a gross understatement. Nonetheless, we have a great deal of exciting prospects on the horizon. We are steadily testing our Staking Platform, which will potentialize Fringe’s growth. And, while we cannot disclose a launching date just yet, we are happy to assure you that it’s coming together quite nicely.
Asides from (hopefully!) accruing TVL, some of this upcoming month’s major events will be the listing of several assets. These will include some of our existing partners, new partnerships, and well-known cryptocurrencies. Stay tuned for more news!
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.