Wrap-up — Week #17

Ahoy Pirates

Happy new week aboard the ship. In case you’ve been busy and missed some of the recent events, here is an opportunity to catch up on the AMA and the Community Call.

AMA of the week: Hundred Finance

Could you tell us what Hundred Finance is about ?

Hundred Finance is a cross-chain lending and borrowing platform. Users that supply tokens receive hTokens, an interest bearing receipt of their position, that can be staked to earn $HND our native token.

Few weeks ago Liquid Driver created a wrapper to acquire veHND. Can you explain the veHND model ?

veHND is the vote escrow version of HND that allows users to participate in the protocol governance. veHND holders can have influence over the protocol improvements, the onboarding of new assets and the bi-weekly vote for $HND emissions gauges. As well veHND holders can supply tokens on the platform and earn $HND at a boosted rate.

In addition, our veToken is totally cross-chain. veHND holders can benefit from their governance rights and yield opportunities on Fantom, Ethereum, Polygon, Optimism and many other chains. Our strategy is to deploy on chains where communities strongly stick to it so we can hope for an evenly $HND distribution among all the chains.

Do you have any plans to integrate the Solidly fork on Lendly ?

Initially, we launched Lendly for projects that wished to borrow against their treasury funds. Selling treasury funds can have a negative price impact on the project tokens and Lendly has been designed to offer to the community the possibility to lend stablecoins to the project in order to limit the selling pressure. The project would then have the possibility to deploy the stablecoins according to its own strategy.

However, taking into consideration the amount of work we currently put into cross-chain operations, we took the decision not to support the Solid Fork for the moment. As a consequence, we have liquidated our veToken received following the initial Solidly launch.

Recently Hundred Finance suffered from an exploit on the Gnosis chain. What are you doing to mitigate this risk in the future ?

This exploit happened because unofficial tokens of a project could be bridged on Gnosis. As a result we are working on a new standard of due diligence to be conducted before any new launch. It will include a deep analysis of both the chain itself, and the security of the bridges.

How the integration of anyCall from Multichain will benefit hundred finance ?

The anyCall protocol enables us to communicate our deployment between different chains. We utilized it to deploy mvHND, a balance that allows users to benefit from their boost and voting power on the other chains.

On the other hand, we will leverage this technology to allow cross-chain lending and borrowing. Users will be able to supply tokens on a chain and borrow against it on another one. This feature is still in the design phase.

What are the next milestones of Hundred Finance for the next coming months ?

Obviously the launch of cross-chain lending is our hottest topic. We are really excited to see how the ecosystem will react to it. We are also working on a new governance process for the protocol.

Summary of the Deck Talk — Week #17

Security concerns

When trying to join a new server be aware that bot scammers can send you malicious links in order to access your personal wallet. Be careful and always feel free to ping a crew member.

Corgi Meme Contest

The participation is decreasing as a result of the recent bad market conditions. However the launch of a Corgi Meme Contest this week-end had a substantial positive impact on the participation. The contest will last until the end of the month for those of you who missed the launch or just want to have fun with the pirates.

Pixel Pirate NFT collection — A community driven project

Last week-end Hoeem, an prominent fellow pirate, launched the first patch of its own NFT collection. The collection was an autonomous community driven project and not an official Liquid Driver Launch. The collection was sold-out within less than 24-hours as a matter of its success.

Level-up NFT distribution

Liquid Driver’s pirate crew NFT will be distributed to helping hands according to their discord participation level. The wallet collection will be announced soon in the dedicated Discord channel.

Shadow DAO

Liquid JJ from the core team will distribute roles and invite community members to the Shadow DAO discord. There will be four task forces for the first cohort : Treasury, NFT, Documentation and Marketing.

1 — Treasury : This role will obviously be the most sensitive one distributed. Therefore the core team will follow this taskforce closely but with a benevolent gaze. Participants of this taskforce will have to show an advanced level of DeFi, Economics and investment decisions skills.

2 — NFT : This task has already been experimented through a dedicated channel in the Discord and proved itself out for the moment.

3 — Documentation : Any simplification or any useful translation (Chinese, Indian, French etc.. ) can be submitted by the taskforce.

4 — Marketing : Communication in any form can be submitted regarding several topics such as Liquid Driver utility, wrapped product strategy, new partnerships explanation etc.. Posts can take the form of articles, threads, videos or infographics on a wide range of social networks like twitter, YouTube, Medium etc…

Participants will be able to freely submit their submission to each section of their choice. We will consider each application evenly. Members will have to show commitment and active participation.

The idea behind the shadow DAO is to gauge the level of commitment, skill and coordination the community is capable of. The Shadow DAO is meant to be a transition structure but the core team is agnostic with regards to its further evolution.

Launch of first Shadow Farms and Regular Farms

The first cohort of Shadow Farms will be launched this week among which the [sFTMx — FTM] pool from Stader on SpookySwap.

Other regular pools will be launched this week including:

  • [GRO — FTM] from Growth DeFi on SpiritSwap
  • [sFTMs — FTM] from Stader Labs on Beethoven as Yearn Boosted Metastable pool with some $SD distributed as double rewards

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