State of the Reactor - Sept 29th, 2023
tratium
Key Takeaways
- v2 Launch Timing and Security Measures: Tokemak is gearing up for the launch of v2 before the end of November. The team is emphasizing the importance of security, including formal verification processes and thorough internal testing. The alpha launch will follow these rigorous security checks.
- Tokenomics and TOKE Value Accrual Strategy: The project's initial phase is centered around increasing the value for TOKE holders. This involves the implementation of the accTOKE mechanism, where TOKE will automatically accrue ETH. The second phase will introduce new functionalities for TOKE, such as an enhanced mechanism for directing liquidity that offers additional benefits.
- Autopilot Feature for Mainnet: The first component of the Autopilot feature is set to be deployed on the mainnet.
- Expansion of Asset Classes: Tokemak plans to expand the range of assets available on their platform. This expansion will go beyond Ethereum to include stablecoins and governance tokens, offering users a wider variety of options for providing liquidity.
Cycle Movements and Development Updates
- November 2: Cycle 288 -> 289 rollover complete. Total rewards: $6,092.9.
- November 8: Cycle 289 -> 290 rollover complete. Total rewards: $7,382.89.
- November 15: Cycle 290 -> 291 rollover complete. Total rewards:$7,194.12.
- November 22: Cycle 291 -> 292 rollover complete. Total rewards:$6,041.19.
- November 29: Cycle 292 -> 293 rollover complete. Total rewards:$7,514.53.
In November, Tokemak's efforts included frontend OpenUX reviews, backend updates addressing pricing and withdrawal processes, and strategy enhancements. Work continued on v2 Tokenomics, video content preparation, and the v2 Gitbook. Notable front-end achievements included prioritizing user research findings and releasing a demo. The backend team focused on refining vaults, conducting code reviews, and handling token-related aspects. These concerted efforts aimed at user experience, system updates, and documentation indicate steady progress toward Tokemak's objectives.
General Update for All Pilots
November 17: The team made the demo site discussed in the SotR (used for the OpenUX program) available. Pilots can check it out here: https://demo.tokemaklabs.xyz/
November 22: Tokemak conducted an emissions update in order to save resources for Autopilot’s bootstrapping campaign. The updated emissions were as follows:
- Sushi LP: 15000 TOKE
- Token LD: 6000 TOKE
- Token LP: 0 TOKE
- Pair LP: 5000 TOKE
- Savings per Cycle = 12.6k TOKE (% Change: -32.67%) The new emissions will come into effect beginning next Cycle, but will be reflected in the UI effective immediately.
Job Opening: Senior Quantitative Engineer
Timeline Note: The current Asana board was updated as of 11/28.