A lot of work is being completed by the team and contributors behind the scenes to prepare MetalSwap for future new developments.
The NFT staking feature and testnet rewards will be announced soon, but now let’s look at everything that has been done over the past month.
As always, the recap will be divided into the following major areas:
In this section, we examine the main achievements of the past 30 days:
The latest swap competition, called the “Halving Edition,” recently concluded, and the rewards for everyone who managed to rank have finally been distributed.
Through the dedicated forum post, it is possible to check the leaderboard with complete addresses and the amount of rewards earned.
The distribution of the USDC.e token took place on the Optimism blockchain, facilitating the transfer of tokens to the winning users.
Perhaps the most important milestone achieved in May was reaching 1200 total hedging positions opened on the Optimism blockchain.
In recent months, MetalSwap’s dApp has completed the majority of its positions on this Layer 2 blockchain, primarily due to the extremely low transaction fees achieved after the Proto-Danksharding update.
Of course, the swap competition contributed to reaching this significant milestone and we are confident that many more positions will be opened in the coming weeks.
Now, let's review May's articles:
After the mini-series of articles related to the BTC halving topic, an article was also dedicated to the role of ETH in the crypto market, especially in relation to what are defined as altcoins.
Currently, MetalSwap has listed OP within its contracts, and by analyzing past cycles, it is possible to open both hedging and speculative strategies on this altcoin.
Much of the R&D research is focusing on studying different derivatives and pricing models, and with this article, we have summarized the results of part of this research.
Specifically, this article analyzes the three main pricing models for derivatives, including Oracle-based, Hybrid, and Virtual AMM.
Continuing the analysis of the derivatives landscape in DeFi, this article focuses on the two main liquidity management methods in the derivatives sector, namely the “backed strategy”, used by MetalSwap, and the “oracle-based strategy”, mainly used in the perpetual sector.
Let’s see what awaits us in the coming weeks.
The release of this new feature has experienced some slowdowns due to the deprecation of the Mumbai testnet.
However, we can say that the wait is very close to an end because the feature is very near to its final release.
The work done by our community on the various testnets, namely those related to the Recall Pool and NFT staking, will be rewarded very soon.
Thanks to the numerous tests, both features have seen significant improvements, and the credit goes entirely to our community.
For this reason, the reward for all those who participated in the testnets and earned XMTXP will be announced shortly.
-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 !