MetalSwap Recap: February

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Here we are with another MetalSwap Recap, this time covering February 2024.

MetalSwap is continuously rolling out new features, both in the mainnet and testnet phases.

Today, we summarize the past month's achievements, so without further ado, let's start this recap!

As always, the recap will be divided into the following major areas:

  • Project Updates
  • R&D and Blog Post
  • Development Preview

Project Updates

In this section, we examine the main achievements of the past 30 days:

NFT staking testnet

The first major achievement of the last 30 days was undoubtedly the release of the NFT staking feature in its testing phase.

As explained in this article, this new feature is now available to everyone on the Mumbai testnet and the feedback collected in this phase will be used to improve the product that will be released on the Optimism mainnet in the following weeks.

As of today, there are already more than 200 test NFTs created by MetalSwap users and we are very grateful for this support from our community. 

For any questions and feedback about this new feature, a dedicated channel is available on the official MetalSwap Discord.

Recall Pool mainnet

During the latest MetalSwap recap, the team mentioned the release of the recall pool feature in its testing phase. In this recap, the team is proud to announce that the recall pool was officially released on the BNB mainnet and is working perfectly, allowing XMT tokens deposited on the BNB chain to be transferred back to the ETH mainnet.

The first recall pool was instantly filled and a few days ago, the second recall pool was released. For more information about this incredible feature, we invite the community to read the dedicated article.

MetalSwap points campaign

February also saw the beginning of the brand-new MetalSwap Points Campaign, an initiative aimed at rewarding users who test the new features in their testnet phase.

As explained, the first points were distributed to users of the recall pool testnet, and more points will be distributed in the future, including to the testnet staking NFT users.

R&D and Blog Post

Now, let's review February's articles:

Proto-Danksharding series

March is the month of the Proto-Danksharding upgrade and with some of the latest blog posts, the team has tried to share some insights about this important upgrade for the Ethereum ecosystem.

The mini-series dedicated to this update includes 3 articles:

  1. Improvement Process: Proto-Danksharding: It was basically an introduction to this topic.
  2. Improvement Process: EIP-4844 Impact on DeFi: Focused on understanding the changes this update will bring to the DeFi sector.
  3. Improvement Process: DeFi Derivatives Dencun Revolution: A specific analysis of the impact of this update on the financial derivatives product in DeFi.

Account Abstraction

Another topic covered in the articles of this last 30 days was the account abstraction. The R&D team is, of course, monitoring all developments on this front, and this dedicated article summarized the current state of this update.

Market Insight Volatility - Vol 9 

MetalSwap was created as a tool to protect against the volatility and monitoring this aspect on various assets available on the dApp is extremely interesting, even for finding new strategies for using hedging contracts.

The latest article of this series analyzed the recent price boom of Bitcoin and other crypto assets like OP and ETH.

MetalSwap in the RWA Trend

Last but not least, an article was released about the RWA trend within DeFi.

This topic is continuously scrutinized by the R&D team, and MetalSwap stands ready to incorporate any new implementation opportunities into its hedging contracts as they arise. 

Development Preview

Here's a preview of what's coming in the next weeks:

NFT live on mainnet

After the current test period, if everything goes well, we can expect in the coming weeks that the NFT staking feature will be released on the Optimism mainnet, introducing new use cases for the XMT tokens on this chain 

And maybe there will also be some incentives for this feature...

New Swap Competition

After a long period of anticipation, we can expect a new swap competition in the coming weeks.

The Dencun upgrade was just released yesterday and this will bring some advantage also for the MetalSwap users and we think this could be a great moment to launch another competition and start to fight for some juicy prize.

February was a month full of news and achievement for MetalSwap, which is building, one step at a time, a dApp that is increasingly complete and in line with what it’s coming from the world of DeFi.

As always, we invite our community to follow MetalSwap's official communication channels, such as the X account and the official blog.


-The DeFi Foundation


✎ What is MetalSwap?

MetalSwap is a decentralized platform that allows Hedging Contract on financial markets with the aim of providing coverage to those who work with Digital Asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.

With Hedging Contract we enable hedge swap transactions through the use of Smart Contracts, AMM style.

It's great to Hedge the Risk of Price volatility with MetalSwap dApp !