It has been a bit more than three months since we launched Lydia Finance. A lot has happened since we started on this journey with all of you!
In this blog post we will cover what we have done so far, what we are working on now and what is to come for Lydia Finance and the Avalanche ecosystem.
Completed ✅
Launch
The launch of Lydia Finance has gone very smooth. Zero technical issues with a fair token distribution. We reached in the millions of dollars for our TVL and thousands of holders in a very short time.
Airdrop distribution
As we promised in the beginning, we distributed airdrop tokens to winners by randomly selecting from the list and burned the remaining airdrop allocation of 16M LYD.
Auto LYD Compounder
We know the Lydians love to earn LYD tokens without paying gas fees! The majority of LYD in circulation is already in our compounders. Auto LYD bounty hunters allow the pools to compound very frequently! Giving you some of the highest APYs available for single asset staking!
Lottery
We are the only platform on Avalanche to bring a lottery feature to our users! A fun way to earn LYD with LYD. Thousands of tickets sold so far. Hundreds of Lydians have already won the lottery!
Maximus farms
We are the first on Avalanche to bring you the Maximus yield maximizer! Maximus is a yield maximizer which puts money inside a regular Lydia farm and puts profit from there into our auto LYD compounder to maximize earnings. Since you will be auto compounding LYD by staking the rewards, you will be exposing yourself to less risk of impermanent loss when comparing to regular auto compounders. Your profits will be in a staking pool instead of an LP token. Lydians have been enjoying high APY with Maximus since we have launched it!
CertiK Audit
We are the first CertiK audited platform on the Avalanche ecosystem. The whole audit process took around 1.5 months and we have passed the audit without any critical issues. Funds are safu!
Audit Report
Partnerships
We have made many partnerships with members of the Avalanche ecosystem such as Avalanche, Olive, Snowball, Avalaunch, Baguette and Penguin Finance. We are always open to get in touch with new projects and add value to the ecosystem.
Listings
We have gotten LYD listed on many different platforms such as dappradar, defillama, coingecko, coinmarketcap, livecoinwatch, coin98, coinpaprika, markr.io and more on the way!
Co-marketing with Avalanche
The official Avalanche team has started to give us direct marketing support 🎉
Read the official Avalanche partnership blog post.
Emission update
With the community's decision, we reduced emissions to 8 LYD/sec from 10 LYD/sec.
Enlarging the Lydia Team
We have brought new team members on board, community admins and a graphic designer. Their impact on our work is already remarkable. We believe that we will move Lydia Finance forward together.
Documentation and open source
As the team for Lydia Finance we know the power of good quality documentation since we have been involved in the crypto space for long time. We created a wide range of documentation consisting of text and video tutorials that we regularly improve and update to offer the easiest way to get new users started with DeFi on Lydia and the Avalanche ecosystem.
Also, the vast majority of our source code is already open sourced on our github account. Please feel free to check it out and see what we have built and will build in the future!
Giveaways
The best way to keep the community excited is to grow our audience. We've orginized several giveaways so far and distributed a large amount of $ to the lucky winners. More to come of course..
Token burns
Lydia is always burning LYD! We burned a total of 19,460,205 LYD so far on different times. We are one of the projects that has most burning mechanisms on avalanche and aiming to balance our total minted/burned rate while we approach our total supply of 540M.
What we are working on now 👨💻
Launchpad (IFO)
We are creating the most fair distribution model on the Avalanche ecosystem! Initial farms offerings will allow Lydians to invest in new projects tokens with the LYD-AVAX LP token. We have completed the development of this feature a little while ago and are in touch with a few new projects to launch on our platform. Expecting to announce one soon! All LYD Launchpad technical details will be released soon as well! Keep your eyes out for them!
LYD Gate (Bridge)
One of the most exciting features is our Lydia Gate! As the the team for Lydia Finance we are focused on bringing the best features to Avalanche and moving the ecosystem one step forward. LYD Gate is a good example of this. It will be providing the fastest way for new users to invest in the Avalanche network and get started with DeFi on the best infrastructure available. It is in the testing phase now and approaching launch. We will be starting with BSC integration. Technically all EVM compatible networks can be added later. Tests results are very promising. It takes a few minutes to buy LYD from BSC.
What's to come 🚀
Maximus 3 👀
The next step of our deflationary development plan is to integrate other LP tokens into our auto compounder. We are still discovering the best way to launch this while developing. We may end up with an additional token. More information to come soon...
This will be huge news for the Avalanche ecosystem, so stay tuned!
CEX Listing
Everyone is excited right? We have already got in touch with a few CEX's. We will pick the most appropriate one for our community and list the LYD token on it.
Zap
Having troubles while creating LP tokens? The Zap feature is coming to make your life easier! It will allow our users to directly switch from a single asset (AVAX) to a LP Token (AVAX-LYD LP), with just a click of a button without having to go to the exchange page and switch out different assets, easy peasy!
Governance
We know that the best decisions are made as a community! Currently we are discovering the best strategies to launch our governance system on snapshot.org. This will allow us to shape the future of Lydia together with our great community!
New Info Displayed on our UI
We have listened to the needs of our community. A faster and more intuitive analytics page will allow our users to track their portfolio easily in detail. This will include showing the USD value of your assets.
New UI/UX & Design
Anyone ready for a sleek new design? I know everyone likes our UI/UX, it is a very familiar design that we are all used to. But even so, we would like to imporve upon our current UI/UX.
NFT Gamification
We will be the first on Avalanche to allow our users to create a personalized profile on our platform to share your personality with the world! These profiles allow you to choose your own name, join a team, and choose from NFT profile images that you've collected to use as your profile's display picture. The next step will be competition/games between teams and individual users.
Lottery update
More fun with less tx fees! This update will reduce the gas fees when buying tickets for the lottery, thus allowing us to increase the total number of tickets that you can buy in one transaction. This will allow us to offer better ticket prices overall. We are awaiting for complete LINK integration on Avalanche to implement this update. The integration also will allow us to bring more gamification features to our platform like predictions and many other features similar to lotteries.
New Wallet Integrations
More integrations bring more users! We will be integrating various popular wallets to our UIs to diversify login options to our dapps.
The Lydia Meme Token
The Lydia Lion meme token is coming! We have been receiving meme token requests from our community for quite a while. We will start to work on it soon and it will be our decentralized community project. Planning to distribute it in several ways such as an airdrop to $LYD holders and via an IFO campaign. Stay tuned for more details.
Exciting times ahead for Lydians! We are fully dedicated to being one of the most active development teams in the Avalanche ecosystem. We are aiming to bring the best features to Lydians and to push the Avalanche ecosystem forward!
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