By Tobie van der Spuy June 18, 2021 [2 Minute Read]
Team has kept busy with deployment, integration testing, audits and new product - but we finally have some news to share!
Over the last 2 weeks we’ve been steadily deploying contracts (listed below) for our integration testing process as the ever important audit process continues, with more being deployed almost daily.
1.4 - VAULT Controller Contracts
1.5 - Non-Inflationary Stablecoin for Centralised Exchange Listing [NOT xbEURO]
1.8 - XIP1 [Additional XBE Minting]
- Mock XBE
- Mock CRV
- Mock LP LiquidityGaugeReward
On-chain voting is ready to be deployed and will likely go-live during the course of next week. Whilst we will most likely use snapshot voting most of the time, it is very important for decentralised protocol to have completely independent on-chain voting facilities for the more contentious proposals.
We’ve also been quiet recently because of our work with regulators in European and African regions to enable easier and simple FIAT on-ramps with compliance that will create additional protocol revenues for XBE.
This forms part of the last critical major component of the XBE protocol that attracts market liquidity to complement our tokenised securities instruments which we will be announcing in the next couple of weeks.
The recent iron.finance catastrophe just gives us more reason to stick to our approach of “we launch when audits [AND INTEGRATION TESTING] are done [PROPERLY]” - especially in terms of the Institutional Vault.
This testing and audit process is still on-going, and in order to comply with updated requirements from institutional holders and the relevant oversight bodies for the Institutional Vault we are not yet able to finalise a launch date.
In order to address this eventuality, we’ve been working day and night over the last month to bring forward the above-mentioned additional (unannounced) product leg – and refactored our XIP1 deployment plan so that we may still launch very soon, even if it is a week or 2 into July. If you are wondering what would happen to the XBE LP Rewards that was intended to incentivize the coming pool(s), we foresee them passed directly onto the XBE stakers in the interim until the Institutional Vault is deployed and partially allocated to incentivising the new product.
Finally - work on layer 2 support has progressed rapidly (especially in light of the additional new protocol leg) and we are busy planning protocol deployments on layer 2 almost simultaneously.
We will be sharing more on this and the new product more regularly over the next few weeks!