Acquiring a $300.000 Grant from AvaLabs set DeltaPrime up for a solid foundation. These funds make sure that at time of the TGE, every investor sees, knows and understands the full value of DeltaPrime.
Having Pangolin integrated, and with the borrowing and trading functionality in place, DeltaPrime is officially a functioning dApp.
The first audits are performed in order to ensure protocol safety. The code has been determined as safe, preparing DeltaPrime for retail use. During her lifetime, DeltaPrime will be regularly audited to keep the platform safe to use.
DeltaPrime has been deployed on the Avalanche FUJI C-Chain. During this period every functionality within the platform has been tested extensively to remove any bugs and glitches as well as optimise UI/UX.
Deployment to the Avalanche Mainnet meant the alpha launch of DeltaPrime. During this period the Development team made sure the application works like it should work, in a real environment.
Q1 was celebratory concluded with a trading competition on the platform. With over $1000 in prizes and a multitude of prize NFTs, the trading competition gave valuable feedback to the team and introduced the community to DeltaPrime's trading functionality.
In preparation of the community expansion in Q3, DeltaPrime set up a network of partners within and outside of the Avalanche ecosystem. These partners consist of other protocols as well as different chains and will contribute to the core features and marketing efforts of DeltaPrime. Partnership announcements will commence shortly before the launch.
The foundation of leveraged Liquidity Provision (LP) will be set during Q3. This allows DeltaPrime to offer the same service that protocols like Alpha Homora offer, yet within the cross-margin Prime Account. In integrating the first LP option, DeltaPrime has finished her trading/staking/LP foundation and is ready to expand the protocol with more integrations.
The community is the backbone of every successful web3 protocol. Soon DeltaPrime will open up its protocol to all Prime users. As a preparation, DeltaPrime will reach out to potential investors: Borrowers, as well as depositors.
This community expansion will happen through means of protocol partnerships as well as Ambassador Games. In Q3 we start with the Ambassador Games in DeltaPrime's Discord, during which community members can share educational content, the best of which will win prizes. In Q4, a month before the launch, partnerships and collaborations will be announced through which the main part of the community will be reached.
DeltaPrime is ready for her protocol expansion. The Diamond Pattern in the code enables us to bypass the maximum smart contract limit. The Beacon Proxy Pattern, enables us to upgrade the protocol to allow Prime Accounts to interact with newly integrated protocols. With this combination we can upgrade the protocol to integrate as many DeFi protocols as desired.
During this period new protocols and functionalities will be integrated on a bi-weekly basis to create a lot of value for DeltaPrime in a short amount of time. Leveraged LPs will be first, followed by extra DEXs and staking opportunities.
In preparation for the launch, with the integrations in place, DeltaPrime will once again audit her code to ensure a safe launch. This audit is performed by Chainsulting, and covers the improved foundation, as well as the new integrations in the platform.
For good measure, we had an additional audit performed by Peckshield. This audit covers the same codebase as the Chainsulting audit.
DeltaPrime launches! All prepared UI/UX, integrations as well as depositing and the borrowing of USDC will be available at launch. Although at this point DeltaPrime will be able to offer a unique amount of value, this is just the start. More integrations, partnerships and features will unlock as we progress out of 2022 and into 2023.
With DeltaPrime being live, integrations can be based on community feedback. Based on this feedback, new integrations have been integrated into the DeltaPrime ecosystem:
- Yak Swap (DEX aggregator)
- Vector autocompounding pools
We had AVAX and USDC. In Q1 three new pools have been added to lend out and borrow. These assets, just like the first two, now boast some of the highest yields for single-sided staking on the chain, while enjoying the protection of your usual liquidation bot.
The Debt Swap allows Prime Account holders to trade their exposure. Borrowed $1000 AVAX for a delta-neutral sAVAX strat, and want to go long on AVAX instead? With one tx, you can now change your AVAX debt for USDC debt, turning your dn into a long. This is how we trade.
Next to protocol upgrades, we upgraded the team as well in this period. This means that from Q2 onwards, upgrades and integrations will come even better prepared and faster at the same time. Current DeltaPrime team size: 10
This quarter the following protocols and assets were integrated in the Prime Account:
- SteakHut (Concentrated liquidity)✔
- ParaSwap (DEX aggregator)✔
Data. Loads. Slowly...
But not after this upgrade! For those who remember the "transaction pending" days of DeltaPrime (~3 weeks after launch), this optimization had a similar effect: from snail to rocket.
This one is for all degens who haven't seen sunlight in the past years, and would like to keep it that way. With this design overhaul, you can choose to have your Prime Account bright and playful, or dark and neon.
Managing your liquidity through a Prime Brokerage account, like the Prime Account, enables a wide range of cross-protocol statistics to become available. In this first iteration of DeltaPrime's statistics page, users are able to find and track the first statistics of their Prime Account.
With these statistics you can make better informed decisions on how to best manage your capital.
You want to change your exposure from bearish to bullish, but you don't want to unstake your working capital? Fret no more! With the deposit swap you can now swap your "borrowed" value with the click of a button, without touching what is already there.
The deposit swap enables users to change exposure between assets, without having to trade the assets themselves.
DeltaPrime upgrades the lending system by combining the best of both worlds: The efficiency of undercollateralization + the safety of overcollateralization. This unlocks millions, potentially billions of dollars from inefficient lending protocols. Instead, through DeltaPrime, it deepens pool liquidity, and lowers slippage on its host chain.
Keeping that value constrained to any single chain, would be a waste of opportunity.
On the 4th of September, DeltaPrime will expand to the Arbitrum ecosystem. This chain, known for its innovation on DeFi, allows DeltaPrime's users to benefit from a completely new range of strategies, which couldn't be created before. On DeltaPrime, or anywhere else.
Let's unlock the Blockchain.
Loyalty will be rewarded. In the upgraded version of DeltaPrime's depositing page, you will be able to lock your deposit for a defined period. The longer you lock, the bigger your share of the rewards!
The Depositor Loyalty Program will incentivize longer-term depositing, will reduce interest rate volatility, and, in turn, will increase the predictability of (strategy)returns on DeltaPrime.
Currently interest rates on DeltaPrime are the result of a preset formula, combined with the current pool utilization ratio. While this proves successful, with so far 0 credit crunches, & pool utilization consistently in the 60%-85% range, there is room for improvement.
A future iteration of the interest rate models will optimize for a pool utilization closer to our ideal utilization ratio. This is done by taking into account fair market interest rates, including current integrations and opportunity costs within- and outside of DeltaPrime.
The higher capital efficiency leads to lower spreads and higher depositing APYs in turn.
With the core product being built out, DeltaPrime is ready to prepare for its decentralized autonomy. The introduction of the $PRIME token will come with a bunch of benefits for the community. This includes community members essential for DeltaPrime's growth, as well as community members using DeltaPrime to strengthen their investments.
$PRIME tokenomics centre around three core values of DeltaPrime:
Soon we will release more information on $PRIME's tokenomics. This will explain exactly how these three core values are ingrained in the tokenomcis, and DeltaPrime's three main tokens.
DeltaPrime will make its first steps into becoming a DAO. By moving governance from a select group of actors to the community, DeltaPrime will benefit from the Wisdom of the Crowds, leading to a better and more sustainable protocol. Additionally, it will move the power to the people DeltaPrime is made for. You.