It's that time of the month again, where we take a step back and reflect on the progress we've made and the milestones we've reached. January was a busy and productive month for us, as we continued to work towards our goal of creating a secure, accessible, and user-friendly platform for the world of decentralized finance.
From launching a bug bounty program to improving our frontend, there's a lot to cover, so let's dive in.
Bug Bounty Program Launch with Immunefi:
To ensure the security and stability of our platform, we partnered with Immunefi to launch a bug bounty program. This allows ethical hackers to report and receive rewards for identifying vulnerabilities in our system. The importance of this event was also highlighted on our Telegram channel by our community, furthering our commitment to transparency and community engagement.
To enhance the user experience, we made improvements to our Main dApp.
Users with Active Hedging Swaps can now see the Initial and the Current Price together, directly below the Price Arc and manage their cover directly on the Price Arc, making it easier to track and manage their investments. It's now easier for users to visualize, manage and understand their positions.
In an effort to make our platform more user-friendly, we made improvements to our frontend, including adding a link for social media on the landing page and a video explaining our hedging swap service. These changes will help new users better understand our platform and get started with ease.
Swap competition in progress:
The Swap Competition called "Gold Edition" is Live, giving users the opportunity to win rewards while contributing to the growth of our platform and the usage of our Smart Contracts. Participants can rank the top20 based on the profit of their Opened Swap with the asset of WPAXG, making it a great opportunity to get involved in our ecosystem.
The usage of Hedging Swaps helped to increase the number of $XMT holders on Ethereum Mainchain.
This is also thanks to the Liquidity Reward mechanism, which distributes MetalSwap's governance token to the dApp users.
PAXGTest Faucet added to Goerli Testnet:To increase visibility and accessibility, we added the PAXG Faucet to the Goerli Testnet, allowing users to test and experiment with the demo version of our token wrapper without having to purchase any token.
Alpha Club NFTs:
The loading speed of Alpha Club NFTs was improved, providing a faster and more convenient experience for users to view and manage their collections.
One of the most shouted news during last month is regarding the creation of MetalSwap's blog, which will be used to share news, updates, and educational resources about our organization and the world of decentralized finance.
In conclusion, the first month of the year was a promising start for us. We are excited to move forward and forge stronger connections with our community. We look forward to keeping you updated with the latest developments in the coming months, so stay tuned for more exciting news!
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To the MetalSwap!
… and beyond!
-The DeFi Foundation
✎ What is MetalSwap?
With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.