Aqualis September Recap

over 1 year ago

Hi Aqualiens, it's time again for another monthly recap!

Whitelist sale information
Staking contract (complete)
MALP contract (complete, configuring variables)
Lending contract (work has begun)
Seed sale
Frontend and smart contract beta testing
Splinterlands

Whitelist Sale Information

The team has tentatively planned the whitelist sale registration period to begin on the 14th of October and finish on the 24th of October. This gives users 10 days to register and sign up for our whitelist sale while the team markets the platform to garner additional interest.

To be eligible for the whitelist, users will need to complete a series of tasks on Gleam. This includes:

following Aqualis DAO on Twitter,
retweeting the whitelist Tweet,
joining our Discord,
visiting the Aqualis.io website,
reading the Medium article regarding the whitelist sale.

The sale will be conducted in three stages:

whitelist allocation round, where all whitelisted participants will get an equal amount of allocation to the whitelist sale
followed by a whitelist-only free for all, where all whitelisted participants will have the ability to buy as many additional tokens as they want
followed by a final free for all, where any user can buy as many tokens as they want

The team will also be hosting additional giveaways and competitions during this period so look out for more info on that. Hint: it will pay to stay active on Discord and invite your friends along!

Staking Contract

This has now been completed! All features described in the whitepaper have been implemented and unit tested, the team is now integrating the functions into the frontend where we will conduct a secondary round of testing. Once this is complete, users will be able to stake their Aqualis tokens for a fixed or variable time period and vote on governance proposals. The rewards smart contract has not been implemented.

MALP contract

The MALP has actually been completed for a while now, but the fees and parameters have been undergoing some testing. The team is now preparing to settle on some final parameters for the MALP until at least the public beta testing stage.
Currently, the fee ranges between -0.02% to 0.04%, depending on the liquidity ratio of the input and output token. This range has recently been reduced from -0.04% to 0.06% as stablecoins have been increasingly stable lately.

Lastly, the fee to withdraw and deposit is currently set to 0.1%. However, this will be updated to 0% if the user is depositing stablecoins in the same ratio as the liquidity pool, or an average fee of 0.01% if the user is depositing a specific stablecoin, equal to as if the user purchased the other coins with their depositing coin.

Lending Contract

The team has recently begun researching existing lending smart contracts to decide which platform to fork as the foundation of Aqualis Lending. In this process, we realized the sheer level of complexity associated with a lending smart contract. At Aqualis, we do not want to use, or deploy anything until we understand the code through and through. Due to this, the team has decided to employ a new senior blockchain developer either on a fixed term or permanent basis (TBD) to assist us with this process.

Seed Sale

After preparing the seed sale pitch deck, speech and overall CRM system (with 200+ investors' contacts) for over three months, we believe the time has finally come to test it out! Sample emails have been sent out to team members and advisors, ten VCs/angel investors have been shortlisted in our first round of emails to "real people", and real emails will be sent out this week after final review from our advisors.

Honestly, sending out these emails to the first ten investors will be a huge step for Aqualis and I am personally both extremely excited and nervous. However, no matter how much interest we get (or don't get), this will be a great learning experience for the team as we tackle the next 190+ investors we have shortlisted in our CRM. I would also like to take this opportunity to personally thank everyone reading this now (you are amongst the earliest of the earliest Aqualis community members!!), we would not be here without the support of our friends, family and early community members, so thank you!

Frontend and Smart Contract Beta Testing

As our core smart contracts are nearing completion, the team has begun working on a frontend for beta testing by community members. We have taken inspiration from many existing DeFi protocol websites that you may know and love, for example: UniSwap, Alpaca Finance, Aave, Compound and more.
Below are some sneak peaks of unfinished or preliminary designs:

Let us know your thoughts on Discord!

Splinterlands

Great progress has been made on Splinterlands after coming 1st in four brawls in a row! We are now just one brawl away from achieving a level 3 arena to access two star brawls. Thanks to all the players who have consistently performed extremely well over the past month!

Closing Remarks

Although September was a big month for Aqualis, October is going to be huge, so don’t miss out!