Monthly Update: May 2023

$FRIN fam,

This past month, we dedicated our efforts to perfecting v2 and laying the groundwork for our expansive multi-chain DeFi suite.

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

Tech Updates

Starting the v2 Audit Process

We are thrilled to share that we have officially kicked off the audit process for v2 along with HashEx, a highly respected firm and auditors of v1.

This audit is essential to ensure our platform's utmost security, reliability, and efficiency. The key areas covered during the audit include:

• Atomic repayments,
• Multiple lender assets,
• Multi-chain,
• Amplify leveraged trading,
• Margin Trade leveraged trading,
• New liquidation model,
• Decentralized backend,
• LP token collateral,
• Wrapped token gateway — to support auto wrapping/unwrapping for ETH/wETH,
• Gas use optimisations,
• UI improvements; and
• WalletConnect Multi-sig wallet support.

Please note that pooled collateral and our new price oracle model are currently in the conclusive stages of development and are not included in this audit.

Further UI Improvements and Revamp

We remain committed to continually improving our user interface, ensuring it remains visually appealing, user-friendly, and responsive. Some UI adjustments will be introduced at v2, with a likely total revamp at the time of launching pooled collateral functionalities, since these practically force a different presentation style.

As we progress through the audit process with HashEx and implement these new features, our focus remains on prioritizing our platform's security, usability, and overall user experience. We will continue to provide regular updates, ensuring our users have access to the latest advancements in decentralized finance. Stay tuned!

Testnet on zkSync

We’ve successfully deployed our Testnet on zkSync for internal testing. This gets us one step closer to a release on this network, although some challenges related to oracles still need to be cleared out, given zkSync’s inability to support Chainlink at the moment.

What happens after v2?

Our upcoming release, v2, is just the beginning. Our ultimate goal is to create a fully permissionless DeFi environment where everyone can benefit from the most lucrative opportunities, from retail users to DAOs and whales.

Learn everything about Fringe’s future plans in our new article, “What happens after v2? Breaking down our roadmap for the years to come.

Ecosystem Updates

Decentralize It! Podcast

We’ll be hosting a Twitter Spaces and podcast episode with Polina S., host of the Offchain podcast, this June 2nd. Our discussion will explore the fascinating world of building Web3 communities, both online and offline. To listen to it live, set up a notification at: https://twitter.com/fringefinance/status/1663610761229357060

We are also announcing another Spaces with a significant player in the DeFi scene this week!

Expanding and improving documentation

We have been actively updating the Fringe Finance documentation to ensure our users stay well-informed. This is an ongoing project, as we aim to reflect all our platform's recent and upcoming upgrades and enhancements.

All the pages related to the Fringe project itself (first section) and Fringe Lending, previously known as the Primary Lending Platform (PLP), are up-to-date. We are also working on producing technical and semi-technical articles that delve into the new components of the Fringe Platform.

Ambassador program

Our Ambassador Program has been instrumental in extending Fringe Finance’s reach and amplifying community engagement by empowering community members to share our message and values with others. This ground-up approach has enabled 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.

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.