Mar 31, 2021
Development Update: March 31, 2021
eRSDL rewards and Chainlink integrated, and Alpha testing on the way!
Amazing progress on the development front. The core lending functionality testing and bug fixing were primary tasks these past few weeks — and we’re almost to the finish line.
- Website and Branding — We’ve been consolidating and curating information flow, while focused on increased engagement with current and potential community members.
- Bug Fixing — We have a new team of three QA professionals. They have been onboarded and have been testing everything for the past week, adding bugs. Note: These are members of the community who leveraged eRSDL’s utility to participate in this crucial phase of development. We thank you!
- Functionality Testing — There was a TON of interest from you to be considered for Alpha testing (38 Alpha Testers!) in Rinkeby and then Mainnet. We are excited you also took advantage of eRSDL’s utility, and cannot thank you enough for your ongoing support. Note: Final registration email confirmation and instructions will go out this week.
- Reserve Lending® Status — All platform elements, single-sided staking, and eRSDL rewards are complete!
Sincerely,
~ Ryan Medlin & Howard Krieger
Website & Branding Updates
Status Update
- Website wireframe & functionality — redesign and refresh content for a look that will better match target audiences; we have identified new landing pages, added new pages, blocked out frames and are beginning to update content
- Roadmap — updated to add better clarification around products and release timeframes
- Style guide specs — media/brand kits and design software acquired
In process
- New image representations for advisors — requests sent/some responses returned, new designs under review
- YouTube channel refresh — content identified, categories/topics approved
- Animated videos & tutorials — art teams identified, quote & contract in for review, drafts of scripts submitted
- Hubspot integration — professional modules purchased, channel integration begun
Scheduled
- Whitepaper and Litepaper refresh including cash flow diagrams from the perspective of end-users and intermediaries
- Hosted blog/Dev update for Github updates
$eRSDL Rewards, Single-sided Staking & Chainlink® Integration 100% Complete
We have a fully operational DeFi platform and ALL features are ready for Alpha testers to start testing on Monday, April 5th, 2021.
The eRSDL rewards calculation for participating in our platform is COMPLETE. [Please note: A Demo link is located at the bottom of this post]
The Reserve Lending® Platform allows for single-sided staking in as far as you can add just ONE token to the supply pool and start earning eRSDL rewards right away. Your % of the rewards per block is determined by your share of the supply pool.
As an additional bonus, you can earn eRSDL rewards from borrowing as well; you will get a % of rewards based on the amount borrowed against the % of the total amount borrowed by the platform.
NOTE: Both of these APYs will be very high until enough users come in and participate by supplying and borrowing. The projected APY after most users are onboarded will be 1,000% for eRSDL staking! For the other tokens, around 500% to 700% APY.
These are estimated; we will run detailed calculations and adjust the eRSDL rewards to balance the APYs accordingly. Expect that the APY will drop every 2 weeks over time, until a baseline rewards APY has been reached (after a few months).
The Chainlink price oracle integration is complete! This is a big step forward in secure and accurate pricing information. Please note: Chainlink and unFederalReserve are several steps away from a formal announcement.
Chainlink does not support their oracles on the Ropsten test network so we redeployed our entire infrastructure and continued on the Rinkeby network. Although this caused a slight delay, our deployment process and automation worked amazingly well and we feel confident about consistent deployment to Mainnet.
Demo Video
(Please note: If the video does not load, it will be available on our Youtube channel shortly):
Topic: Ryan (SF)’s Zoom Meeting
Start Time : Mar 31, 2021 04:33 AM
Meeting Recording:
Access Passcode: y0Er*gaC
Operational Security Audits and Tentative Release Date
Security audit companies are very busy these days, but we have engaged two, scheduled for this Thursday, April 2nd, and will take 3 to 5 days AT MOST, running concurrently with Alpha testing.
- Coinspect.com: Compound fork smart contract audits
- bramah.systems: Compound fork smart contract audits
Oleksii Misnik: PEN Testing for Web Applications/DApps and backend operational systems.
After launch, we have engaged Trail Of Bits for later audits, based on their availability.
The SAFETY of our community is of utmost importance here so we will not launch until the audits come back and any critical bugs discovered during Alpha Testing are fixed.
Again, we estimate that most critical security issues have been uncovered in the Compound smart contract security reports from 2019 onward and, in general, will keep us on schedule according to when they deliver the completed audits.
Tentative official release to Mainnet date is mid-April and we will post another update once Alpha testing and the Security Audit feedback comes back. We will review and fix any critical issues that may arise, and give advance notice of the official release date.
