Monthly Update — October 2023

Fringe Finance
3 min readNov 2, 2023

Fringe Community,

The audit for v2 is officially complete! We are thrilled to share this significant milestone with all of you. Audit is an important but not ultimate step in bringing V2 to life.

Now, let’s dive in and get you up to speed on all the noteworthy developments that unfolded throughout this period.

Technical Updates

Audit

The Fringe Finance V2 audit is now done and dusted! Mainnet deployment and configuration next!

Several rounds of audit and rework have occurred and we’ve conducted updated deployments to the testnets to validate our approach for mainnet deployment.

The countdown is on! The next main steps leading to mainnet go-live are:

  • Mainnet contract deployment and configuration — multi-chain
  • Auditors will verify our deployments are the contracts they audited
  • Subgraphs: decentralized backend deployment
  • Frontend deployment
  • Deployment validation tests

Listings and configurations

We have devised our configuration parameters for the mainnet. Devising configuration parameters has been a major project in itself given configuration comprises a range of parameters including liquidation parameters, interest model parameters, DEX aggregator integration parameters, lending token lists, and collateral token lists. And for each listed token: price feed sources (Chainlink or Pyth), loan-to-value ratios, debt limits, and lending limits.

From day one, we will be listing 60+ tokens across the chains that we support and then progressively ramping up to almost 200 listings in total. Our current conservative configuration will allow deposits of over $2.5B and issuance of loans of approximately $1.5B. These limits will increase as we monitor and relax our initial conservative stance and when additional liquidity flows into the crypto market.

Our updated count of total listable assets for each chain is as follows:

  • 117 assets on the Ethereum Mainnet
  • 35 assets on Arbitrum
  • 24 assets on Polygon
  • 17 assets on Optimism
  • 4 assets on zkSync

Each chain supports a different set based on the availability of the asset on the chain, the availability of sufficiently liquid markets on that chain, and a suitable price feed. We will be listing almost as many capital assets as collateral assets, which means with Fringe V2 you can go long or short on a range of assets — including with leverage.

Coinbase Wallet Integration

Fringe V2 has also extended support for additional wallets. In addition to Metamask (and all Metamask API-compatible wallets) and Wallet Connect multisig support, Fringe has now integrated Coinbase Wallet support.

Fringe’s integration with Coinbase Wallet enables Coinbase’s CeFi user base to seamlessly transition to our trust-minimized alternative to Coinbase’s centralized offerings, thereby increasing Fringe’s avenues for adoption.

Ecosystem updates

Copiosa wallet verification

We’re thrilled to share that Copiosa Wallet has successfully verified the FRIN token. That means that the Fringe Finance token will have more exposure among the Copiosa users.

The Copiosa wallet specializes in deep insights into emerging tokens.

Integration Co-Marketing

As we’re moving closer to the release date, our marketing team has started approaching the projects whose assets will be available on the platform. We view our significant number of available tokens as one of the crucial sources of awareness and exposure to the platform.

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.

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Fringe Finance

Decentralized financial ecosystem unlocking the dormant capital from traditional financial markets and all-tier cryptocurrencies. #DeFi lending & borrowing.