Moderator: Troy Murray
Scribe: Rayne L.
Attendees: Troy Murray, Pavlo Bendus, Vitalik Cherniak, Milad Mostavi, Bogdan Gheorghe, Tyler Ward, Max Fiege, Christian Crowley
Intro [00:00]
Troy: Welcome, everybody, to BarnBridge project call 23!
I think the most important thing that a lot of people are curious about is the Aave situation. We'll be putting a hold on it— for probably a couple of months —then we'll revisit this. There's not much else to say. Articles are getting written about it.
I think that's all we'll say— read the articles.
With that, I'll hand it over to Bogdan.
Please, take it away!
Tech/Dev [00:46]
Bogdan: Yes! Nothing grande in terms of dev updates.
We've received a clean bill of health from Certik. (Smart Alpha audit)
It's a preliminary report, and we are still waiting for the full one. Which, ideally, we can publish sometime next week.
Other updates for the app— we've pushed what we hope are the last polishes and app improvements —until Smart Alpha launches.
Updates include;
- Treasury page updates
- Links to insurance providers
- Minor functionality changes (Smart Exposure)
- Various small bugs
Also, something behind the scenes; It's one of those upgrades that no one ever notices. We've had a backend overhaul. We just wrapped that up. Backend work is something that goes unseen, but we've been working on it for the past month. So, it's worth mentioning.
We can finally put around 90% focus on Smart Alpha. We're a month away from launch, and we're all super excited about it. You're going to love it.
It's small and steady progress with Smart Fiat as well. That's why I said 90% focused on Smart Alpha. We changed parts of the spec— several times. It finally feels as if we're nearing the end of the tunnel.
Aside from that, we've recently started designing additional products that we'll launch. It's from an idea we've had in the backlog for a while. It's something that's somewhat at the intersection of Smart Yield and Smart Alpha. It's an idea that we all love.
So, we are focusing on the product launches and the three new products in the pipeline— at this point.
- Smart Alpha 🧠 🦍
- Smart Fiat 🧠 💱
- New One (Not teasing anything about it!) 🧠 ?
It's going to be awesome.
That's pretty much it.
Troy: Cool!
There's a lot of stuff coming out on the tech side. There are products in development like Smart Alpha. We're looking forward to it all.
Operations [03:12]
With that, I'll hand it over to Christian for an update on the operations side!
Thanks, Troy!
Hey, everyone!
Related to what Bogdan was saying, our focus for the next four weeks and beyond is Smart Alpha launch planning.
We are looking at partner marketing and engagement. Part of that is how we approach socializing aspects of our products with key partners/potential users.
That's been our focus.
Additionally, we've been working on the BD/Outreach side of things. That's ongoing, and it will continue to expand as we near the actual launch.
I'll hand it over to Pavlo now to talk through marketing-related updates.
Pavlo [03:54]
Sure!
ImmuneFi Bug Bounty Program: Website
So, the time has come for all the bug bounty hunters. We now host a 500K bug bounty program.
Thanks to ImmuneFi for a smooth launch process. As well— ArmorFi for matching the initial bounty amount. All the information about this is in our Twitter and the ImmuneFi communication channels.
If you are interested, check it out: ImmuneFi Bounty
Explore the page on the ImmuneFi website and get acquainted with it.
We have started working with a sound designer for the explainer video. The video is going along well. I'm looking forward to getting great background music and sound effects added to the video.
Also, we've created a brand page— via Notion —it will contain all the design information for the brand. We'll add that to the website. Any team that wants to integrate with us or needs our assets like; logos, brand colours. Anyone can easily get those.
That's a quick update on my side!
I'll hand it over to Max now.
Max [05:39]
I'll speak about two things that we are working on from a product angle— with Smart Yield.
The first thing is that we had a snapshot vote to confirm that the senior rewards program is live.
Anyone who mints a senior BOND on Smart Yield— Ethereum Mainnet version —anytime before September 1st will receive a share of 100K BOND. It gets distributed on February 2nd. (2022)
The maturity on your sBOND has to be January 30th and beyond for it to be eligible.
You all can go ahead and check out our Medium post. You'll find that we have a few modifiers in effect depending on when you mint your sBOND.
The sooner, the better.
Secondly, we're currently working with the Rari Capital community to start fuse pools. One for Smart Yield and eventually one for Smart Alpha.
How fuse pools work;
If you're familiar with lending and borrowing on Compound— it's similar to that.
By being a fuse pool coordinator, we are in a position to determine what markets look like. Fuse pools create more utility for jTokens. The fuse pools also allow for more avenues to borrow and lend BOND, USDC & ETH.
Once Smart Alpha is live, we'll have a longtail or ERC-20 assets there as well. I'm looking forward to having an SY/SA fuse pool of assets going at a steady state at some point soon.
Going through their governance will take about a four-day process. When it launches, there will be BOND, USDC & ETH. We'll still need to pull in secondary liquidity for jTokens.
I think Christian did a good job of explaining what we'll be doing for Smart Alpha from a marketing perspective. We'll be socializing the product with other teams over the next few weeks. We can ask them if they are holding their tokens in a treasury, or folks with tons of exposure to an asset can get educated on how to have sufficient downside protection— conveniently, at scale. Which is something that is not very feasible unless it's Bitcoin or Ethereum. (Based on the options markets for Altcoins.)
We look forward to that and sharing more information publicly— during the lead-up to Smart Alpha. Near the end of the month or a few weeks from now.
Aside from that, those are the essential updates that I have.
I'll also be speaking on a panel today regarding Chainlink keepers at 2:30 ET. (Alongside folks from Synthetix, Aave & Pooltogether.)
So, feel free to tune in for that!
Troy: Awesome!!
Does anybody have anything they want to cover?
It's kind of a slow month for us. I'm slightly leaving it up to the panel.
Does anybody want to talk? Anything?
Okay.
Pavlo: London is the capital of Ethereum.
EIP- 1559 is live. 🎉🎉🎉
Troy: Yes! The future of France. 🇫🇷
Pavlo: Yeah!
Bogdan: Tyler should say something. He's never this quiet. Never.
People are going to think something is wrong. 😆
Tyler: Um, coughs I've had a long week. In the f*cking trenches. I haven't gotten much sleep. I haven't drunk all week. I've worked and back channelled and tried to figure out what was going on with everything. I'm exhausted.
I think people have seen me in the Discord, and I've been speaking with numerous groups on Telegram. I've been going through several lending protocols and the stuff we may have overlooked in the past. A lot of teams came to support us. The Sushi team was incredibly supportive regarding the situation. I've been speaking with them regarding a bunch of tech that they have going on.
I think Max and I were in the Rari thread yesterday. A group called Wild Credit reached out to us. So, I've been looking through their documentation.
Another thing I said in the Discord— so everyone knows —I was up to about 3 AM the day that everything went down and then early in the morning. I don't want there to be any bad blood towards Aave. (Because they were blindsided by this as well.)
Stani called me for an hour— immediately the morning after —at 8 AM, so I was running on five hours of sleep.
He talked to us about all sorts of things coming down their pipeline from a development perspective. It will help us launch things easier. It's kind of like dual-sided pools— where we won't need to go through governance to do everything on Aave. He helped me figure out how we go forward from this. I know he was also frustrated and let down because he went through this whole process with us.
He shared some frustrations around that. (mostly talking shop)
Stani helped with a game plan. That's partially where the tweetstorm originated. He offered to help mend bridges with Arthur. And assisting how to improve things from an optics perspective. Arthur is a powerful guy— he mega nuked us.
I'm not very talkative because I've been working my ass off trying to figure out where we go from here. I've been talking with a lot of people.
Even Andre reached out. And I barely ever talk to that guy. He was supportive and gave some insight on Telegram. So, I've been going through the rounds.
I think Max has too and anybody else who's been in the Telegram.
So, yeah! I'm just tired, guys. I'll get back to where I was next week.
Or tomorrow.
Bogdan: That was an awesome update! We got some Tyler action.
Troy: Right on!
Also, this will be my last moderation call. I'll be handing it over to Christian from here on out.
So, if anyone wants to have round table discussions or anything from the community, get in touch with Christian.
My watch has ended. ⌛
It's been a pleasure! 🍻
With that, I don't know if anyone else has anything to say. But, I think we can call it.
Alright!
Take care, everyone!
Everyone: ✌️✌️✌️✌️