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General Product Updates
- Updated graphics on our landing page — instead of pure abstract placeholder images, it is now replaced with images that (we hope) give more context to our copy.
- Added footer to dapp.
- Changed ‘invest’ to ‘deposit’ for vaults.
- Slight tweaks to Lending Pool and Vault details page UI.
- Fixed issue where an empty screen shows when loading our dapp on mobile browser without a wallet.
- Improved the timeframe of charts so that it now shows 1D, 1W, 1M and ALL time intervals, with the larger time intervals loading more historical data.
- Work is still being done with regards to improving our Charts UI, as well as creating a Portfolio P&L page (which will only apply to post Alpha lending pools and vaults!)
Market And Protocol Updates
As we enter the 2nd week of 2023 in earnest, we are slightly blessed with a relief market rally.
The price of AVAX has increased from a low of about $10.70 to a current average of $12.45 for a rough 16.3% price appreciation.
The Neutral Strategy vault is back “in the money” with a value of 1 3N-AVAXUSDC-TJ-AT to $1.000428 USD (+0.0946% P&L since inception), as well as an increase of $0.003589 from last week’s value of $0.996839, for a P&L of 0.36% since 10 days ago.
Even though it’s great that the vault is at least “breaking even” now, please note that the Neutral Strategy vault actually works the best when the price of an asset is relatively stable and less volatile over time.
The Long Strategy vault value is now at 1 3L-AVAXUSDC-TJ-AT to $0.893934 (-$0.106066 P&L loss since inception). Compared to last week’s value of $0.763696 however, it has increased by $0.13 for a 17% P&L appreciation (slightly higher than the 16.3% price appreciation if you just bought and held AVAX).
Looking at it from the amount of AVAX it represents however, we are still at a slight loss — if you had deposited 4 AVAX at the start, your 4 AVAX is now 3.994753 AVAX or a slight loss of 0.005247 AVAX (-0.13%) since inception.
If you had deposited last week however, you would have earned 0.016115 AVAX (0.405% increase).
What’s Next From Steadefi?
While we are still working on the Short Strategy vaults as well as integrations to other asset pairs and other protocols, we are also “graduating” from our Alpha Phase to the Open Beta phase.
As it implies, the Open Beta will be unlike the Alpha in the sense that anyone will be able to participate in our strategy vaults. We are still labelling it as a ‘Beta’ however until our contracts have finished Security Audits by 3rd party auditors.
As we end the Alpha Testing phase, we will be launching new Lending Pools and Vaults in Beta, and will be pausing the Alpha Lending Pools and Vaults from any further deposits.
Expect further announcements as we launch the new Beta Pools and Vaults as well as to request that all depositors withdraw their deposits from the Alpha Lending Pools and Vaults and migrate them to the new Beta versions.
Select Questions from the AMA Sessions
Q) Which chain will the upcoming GLP vault be on? Or both....?
As we are starting with AVAX, we will have it on AVAX for a start. But we are definitely looking to launch our vaults (and lending pools) on Arbitrum as well in 2023!
Q) Will the team be opening up new Lending pools soon in order to facilitate the leverage on the GLP's "basket of assets"?
Yes! We are targeting Week 3 or Week 4 of January for our GLP vaults and as such you can expect Lending Pools with assets to serve GLP vaults to be launched sometime in Week 2 or 3 of January 2023. To be clear, we are still contemplating whether our GLP vaults will still be Alpha only (with all the limitations of Alpha, e.g. max deposit, etc).
Q) Any deposit limit coming in the future for beta or just open season?
Short answer is "no deposit limit", but the long and realistic answer would be that there would be some limits that will be reflected on an overall Vault Capacity, as well as liquidity of our Lending Pools. There will also be a max cap per deposit just to reduce price impact per swap.