ReserveLending® Critical Bugs Have Been Fixed and is Ready for Alpha Testing!

unFederalReserve Development Update — March 2021

We are pleased to share the positive progress we have made over the past few weeks in development. Our primary focus has been on bug fixes and testing, and we are well within our roadmap. We expect Alpha testing by the #unFederalAgents to begin next week!

Everyone who has signed up to be an Alpha tester will receive email confirmation and instructions on procedures this week. We received an overwhelming response from community members who were interested in Alpha testing in Ropsten and Mainnet, and we cannot thank you enough for this support.

Sincerely,

~ Ryan Medlin & Howard Krieger

Additional Website Updates Have Been Incorporated

We polished up some of the small things, like our tooltip icons, our website content (which included a cleanup of up our team biographies), created a style guide, and performed audit and alignment, among other things.

We also started a website redesign and content refresh to ensure that our look will resonate with our target audiences. Our design team will be working through the wireframe and functionality based on user and team feedback in the coming weeks. Stay tuned, as we’ll be requesting additional feedback from our community soon!

Reserve Lending® - Operational DeFi Platform is in Testing

Reserve Lending® is in the final test stages, and is scheduled for two rounds of independent auditing as we prepare it for release. While we are currently on schedule to complete the first phase of our roadmap, we are allowing extra time to address anything that arises from Alpha testing reports and audits.

  • We fixed approximately 15–20 critical bugs, and added usability features to the lending website by applying tooltips and better contextual information for the end user as they move along.
  • We provided the eRSDL rewards calculations for participating in our platform, and we are now examining how they behave during testing.
  • We created a nomenclature convention for the tokens that will represent your participation in the platform while staking:

cETH will be unETH, cWBTC will be unWBTC and so forth!

Because the Security Audit team’s work velocity and potential fixes are unknown until they perform the actual audit, the launch date could be impacted. We estimate that most critical security issues have been uncovered in the Compound smart contract security reports dating back to 2019, and in general, will keep us on schedule.

If you are still interested in being an Alpha tester (starting next week) in the Ropsten Testnet, please let us know at info@unfederalreserve.com

Image by Webdevelop.io

Operational Security and Audits Have Begun

We have added an administration operation control panel and fail-safes in case issues arise with the platform or third party dependencies. SAFETY, a core unFederalReserve principle, is critical to our platform users, and these admin tools will allow for better monitoring and control from our operations staff.

After asking peers in the “Tech Founder” space and getting quotes approved, we decided to move forward with the following audit companies:

  • Hacken.io: Token Audit and Reserve Lending Smart Contract audits
  • Oleksii Misnik: PEN Testing for Web Applications/DApps and backend operational systems

[Please Note: We are engaging Trail Of Bits for later audits in September/December, based on their availability. Our founders have personal connections with ToB and are honored to have access to a top provider of audit services.]

$eRSDL, Pricing Oracles, and Chainlink®

Chainlink integration design into our platform (based on price feed availability on Chainlink) has been completed, and our blockchain engineer is starting his work. This will be completed for launch.

Features to Complete Before Official Release of Reserve Lending® Platform

  • Begin integration of $eRSDL rewards APY
  • Changes needed, if any, from Security Audit Company and Alpha/company testing of platform in Ropsten, integrating any Alpha tester feedback. We will prioritize accordingly to fix major issues to land as close to plan, then iterate on more fixes after launch
  • Add appropriate documentation (basic rough instructional demo video) and tooltips to help with User Experience. The amount of documentation and format will continue to be iterated on after launch

We are on schedule for an end-of-Q1 Alpha release, which is two weeks away! We’re excited to be here with you all as we head into the next phase together.

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‘Credit vs Cash’ spot market fintech using blockchain protocols. Great liquidity access. Instantaneous settlement. $ersdl #DeFI #middlemarketdefi #uniswap

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unFederalReserve

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‘Credit vs Cash’ spot market fintech using blockchain protocols. Great liquidity access. Instantaneous settlement. $ersdl #DeFI #middlemarketdefi #uniswap

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