I. Introduction | II. Progress | III. Conclusion
This is the tenth development blog providing an update on the progress of Yamfore. The goal of this blog is to keep the community informed of the team’s progress and to increase transparency throughout the development process.
Yamfore Testnet V2 & Audit Progress
The Yamfore Public Testnet V2 is on track to be completed in the coming weeks, despite running slightly behind schedule. The team is now confident in giving a more specific timeline, and that timeline is around late November.
Upon completion of Testnet V2, the Yamfore smart contracts will immediately begin the auditing process via Txpipes. This is an important step in the development process, and the team is committed to ensuring that the contracts are secure and bug-free before launching on mainnet alongside the FTO event.
CBLP Auction Portal Mechanism Improvement
The CBLP Auction Portal mechanism has been revamped to further simplify and streamline token distribution, incentivizing more participation, and encouraging further FTO participation through fairer rewards. The portal’s fundamental purpose remains the same: to grow the protocol’s stablecoin reserves by converting a portion of CBLP market value into stablecoins, facilitating loans and expanding the protocol’s borrower base. The new mechanism is described in the litepaper.
“ At the start of every epoch, a set amount of CBLP tokens become claimable. Individuals can deposit stablecoins to the CBLP auction portal to claim a portion of those CBLP tokens at a fixed discounted market price. Those stablecoin deposits go directly to the protocols stablecoin treasury and are immediately lent out. The CBLP auction portal always maintains the most up-to-date market price of CBLP tokens, allowing auction portal participants to always acquire CBLP tokens at a discounted price. The CBLP auction portal is a continuously occurring event with CBLP tokens claimable at a discount on a per-epoch basis. The fixed percentage discount given to auction portal participants is a lending parameter that CBLP token holders can control through governance. “
The Litepaper as well as all relevant documentation has been updated.
Updated Lending Parameters at Launch
After much community feedback and deliberation, the team has adjusted the initial lending parameters to strike a more fair and balanced approach that incentivizes loan creation, whilst still maximizing the growth for CBLP token holders.
The team is working diligently to bring Testnet V2 to the community in the near future. We’re excited to share the fruits of our labor and receive feedback to further refine and improve things leading up to mainnet launch.
🌎 Website: https://yamfore.com/
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