In this week’s town hall, Howard Krieger sat down with the unFederalReserve community to lay out the course for the upcoming month. As discussed in the last town hall, Howard and the team have a jam-packed schedule of AMAs, conferences and speaking arrangements. Howard will be travelling the world to spread the word of CeDefi — particularly, how unFederalReserve can serve the underserved and be the rails to moving traditional finance into Defi. With unFederalReserve, anyone from any background can be their own bank.
Some of the upcoming speaking events:
When: October 7–8 in London
World Blockchain Summit –
When: October 24–25 in Dubai
Hinted 2–3 other conferences
LA Blockchain Summit –
November 2–3 in Los Angeles
Howard will be discussing how unFederalReserve can serve the underserved, bank the unbanked and serve as the rails to moving traditional finance into Defi. #BEtheBank
Let’s dive into some of the updates discussed:
Community Forum is Live
The Community Forum will serve as a platform for the community to get together and voice their opinion on an array of project decisions and new ideas. Users can find the forum link on our Twitter, Discord or Medium blog, quickly sign up and begin making their mark on the future of unFederalReserve. Howard preaches on how important making forum-based decisions are for the project and encourages the community to lean in and get involved in voting regularly. The quicker we can make key decisions, the quicker unFederalReserve can grow and evolve. This is a true benefit of a decentralized project.
Collateral Factor Vote
The success of ReserveLending (unFederalReserve’s Peer to Peer, Single-Sided Staking Product) is heavily reliant on the change of the collateral factor. The collateral factor needs to be adjusted to a healthier level in order to create a vibrant infrastructure protecting borrowers and lenders. Having the right collateral factor will allow for the project to become what we sought out to create — a safe harbor. Since unFederalReserve is a product by us for us, we will be voting on what appropriate collateral factors to help bring necessary liquidity and users to the product. Voting ends Tuesday, September 28th.
Sending Users Tax Documents
Doing your taxes with crypto assets can be burdensome. This is why in the most recent twitter space “Based Space”, Howard and Ryan discussed the idea of providing customers gain and loss documentation for when they do their taxes. unFederalReserve does not currently have this functionality, although we believe this information can be provided through a company that works closely with unFederalReserve called Computus. Howard understands that the better the user experience is, the more comfortable users will be to jump into projects like unFederalReserve. If that means providing tax documentation, he is all for it.
Liquidity Pool Options
The community has voiced wanting to get involved with platforms that provide rewards for LP staking. Howard announced advanced talks with $SUSHI’s ONSEN program to provide LP staking. Howard explained that negotiations are still on-going, but ultimately will benefit all parties involved. We are open to any opportunity that is willing to mount unFederalReserve with LP staking, layer 2 protocol rewards, etc.
BSA Officer Appointed
Howard also announced a BSA officer has been appointed and is ready to comply with SAR. This will allow for monitoring of transactions for malicious activity.
ReserveFunding to Allow for Unaccredited Investors?
unFederalReserve looks to allow access to its users from any walk of life, regardless of their background. This is why we will be exploring an option for unaccredited investors to participate while still maintaining a level of compliance. If implemented, unaccredited users will be able to earn a yield in a unique vault with an added level of oversight from an advisor to remain U.S. compliant.
Howard also noted that with ReserveFunding, users can convert stable coins into USD to make investments. This feature allows users to invest into the alternative investment funds provided in the various vaults without riding the wave of crypto volatility if they so choose.
After another great town hall, the community can look forward to seeing unFederalReserve on the world stage in the upcoming months. Changes will be made to better the overall experience for the users, and now community members can make their voices heard and help push this project forward. The future of banking is in our hands.