In June, we have continued development and testing of our newest smart contracts, the OTC and vesting. We have also got an exciting addition to the Aqualis ecosystem added very soon, more details below!
Table of Contents
- Development progress
- New addition to Aqualis ecosystem
- Seed Sale
- Splinterlands Update
- Closing remarks and looking ahead
The majority of this month has been dedicated to the testing and development of our OTC smart contract. This has proven to be a tedious task as we have gone through multiple iterations of testing already as bugs have continued to be found.
The end goal is to create a marketplace where users can trade any ERC20 token peer to peer in a completely trustless manner. Initially, we wanted to simply create a decentralized escrow contract to facilitate transactions users may have already organized off chain. However, we realized we can expand this into a unique marketplace where users can send each other private or public offers, negotiate and transact within the same smart contract! This becomes very similar to an NFT marketplace but with tokens.
All transactions will happen on chain, with each counteroffer incurring a small gas fee, allowing Aqualis to simply act as an open source frontend for users to manage and send offers. At this stage, we have not yet started on the frontend, but the smart contract is complete and going through our iterative testing process.
New Addition to Aqualis Ecosystem
We are excited to announce we will have our first live product sooner than expected! We are currently in the process of acquiring a Splinterlands marketplace that will offer the highest cashback available. This is planned to go live by mid July. More information to come!
Over the past week, we have started dipping our toes into the fundraising world now that we are more confident in our product than ever! We have begun contacting VC connections and sending out cold emails to potentially interested parties. A successful seed round means we can really start to accelerate development, marketing and potentially pay for multiple audits.
Furthermore, as many of our community should already know, we are an entirely self funded project so far. Despite our small funding round last year, we have yet to spend any of the community's funds and we intend to stay that way for as long as we can. This seed sale is simply to ensure we have a good safety net, plus a very healthy protocol owned liquidity to bootstrap the liquidity pools from day one.
Since our previous update, we have moved into tier 4 brawls which puts as against the best of the best! Personally, I have been incredibly proud of our top 5 placements despite being put up against some of the top guilds in the game.
We plan to continue recruiting new players and levelling up our buildings to become increasingly competitive in tier 4. Our next goal is top snag a top 3 finish!
Closing Remarks and Looking Ahead
Initially, Q3 was scheduled to be our biggest quarter, with our public sale and main launch. However, at this stage it seems the main launch may need to be delayed into early Q4 with the public sale moving into mid Q4.
We have all the pieces of the puzzle ready to be put in place, but getting to this stage has definitely taken much longer than initially anticipated. The adverse markets, unplanned technical roadblocks and straying from our initial roadmap have all contributed to this reality, but honestly we are more than happy with the current state of progress, especially given our additional products added into the Aqualis ecosystem.
As I mentioned earlier on, we are more confident than ever in our protocol and after almost 18 months, the team is still hard at work to deliver the next revolution in capital efficiency! We can't wait to see what we can achieve in the next 18 months and a huge shoutout to the early community for being with us as we continue to build.
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