Contents
I. Introduction | II. Progress | III. Conclusion
I. Introduction
This is the seventh 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.
II. Progress
Public Testnet Roadmap
The Yamfore team would like to thank everyone who participated in the public testnet rollout and provided feedback. A public testnet is a crucial stage in the development of any decentralized application, as it allows community members to test the product and provide feedback early in the development cycle. This can help to identify and fix bugs, as well as improve the user experience.
We are happy to report that the Yamfore public test is running smoothly, with the majority of participants able to seamlessly enter and exit multiple loan positions without issue. The initial launch of the public testnet focuses on the core lending and borrowing aspects of Yamfore. We are calling this initial rollout “Public testnet V1.”
The team plans to roll out a final Public testnet v2 with all the missing features omitted from the Public testnet V1 rollout, such as oracle integration, CBLP auction portal, transaction history, and a smoother, more polished UI/UX.
The Public testnet V2 rollout experience should be identical to the mainnet launch, showcasing every aspect of Yamfore (excluding progressive governance). This will be the final product before external auditing occurs and the eventual mainnet launch. Public testnet V1 is scheduled to end on July 7th, with the team solely focusing on building out Public testnet V2, which is scheduled for Q3 of this year, as per our roadmap.
Improved Lending Mechanism
Since its inception, Yamfore has undergone multiple iterations and improvements throughout its development. The team has taken an iterative approach to building Yamfore, ensuring that improvements and resolutions to discovered design flaws are immediately rectified.
We are happy to announce a plethora of upcoming changes to the core lending and borrowing mechanism of the protocol. These changes will improve the long-term viability of the protocol, better benefit CBLP holders, and address some less-than-ideal aspects of the previous design.
These changes will be announced shortly after July 7th, when the Public testnet V1 comes to an end. The community can expect the Litepaper and all relevant documentation to be updated to reflect these new changes.
Minor Tokenomics Update
The $CBLP tokenomics have undergone a few minor changes and improvements. A slightly larger allocation has been set aside for miscellaneous costs, which include $CBLP liquidity provision, auxiliary development costs, community building initiatives, partnerships, and bug bounties. All tokenomics documentation have been updated to reflect these new changes.
ADA & CBLP liquidity initiatives
The Yamfore team has recently submitted a proposal to Minswap to create a triple farm for the ADA and CBLP pool. The purpose of this triple farm is to increase community engagement and boost liquidity for the native CBLP token. This will be accomplished by offering additional rewards in the form of CBLP tokens to users who participate in the farm, in addition to the regular MIN farm (MIN + ADA). The increased liquidity will benefit both Minswap and Yamfore, as it will attract more traders and reduce slippage. https://forum.minswap.org/t/implement-triple-farming-incentives-to-the-cblp-ada-pool/3896
Upcoming FTO ( Fair Token Offering)
There has been an influx of inquiries about the upcoming Fair Token Offering (FTO). The details have not yet been finalized, but you can expect a similar distribution methodology to the NFBO (Non-Fungible Bond Offering). The focus of the FTO will be to distribute the last influx of $CBLP tokens onto the market, using a fair supply and demand mechanism similar to the NFBO, and bootstrapping the stablecoin treasury of the Yamfore protocol. More information will be released by the team closer to the initiative.
Smart Contract Audit Status
We are pleased to announce that we have secured what we believe to be adequate funding for an external audit. We are currently in promising discussions with a reputable third-party smart contract auditing firm. While we have not yet finalized all of the details, we are confident that a final agreement will be reached in due course. An external audit is essential to ensuring the security and reliability of the Yamfore protocol.
III. Conclusion
The Yamfore team would like to express our sincere gratitude to our dedicated and passionate community for their constant feedback, support, and patience. We appreciate your willingness to work with us as we navigate these development hurdles. Your feedback has been invaluable to us, and we are committed to making Yamfore the best it can be. We appreciate your continued support and feedback as we work to bring Yamfore to mainnet.
Follow us:
🌎 Website: https://yamfore.com/
📚 Gitbook: https://yamfore.gitbook.io/yamfore/
🐦 Twitter: https://twitter.com/yamfore
🔊 Discord: https://discord.gg/FK5qtrmRE7
🖥️ GitHub: https://github.com/Yamfore
🤖 Reddit: https://www.reddit.com/user/yamfore/
📧 Email: contact@yamfore.com
