Hey everyone
We hope everyone is doing well and staying safe during these dark times. Our thoughts and prayers go out to anyone effected by whats happening in Ukraine.
It has been awhile since our last update. As such we wanted to provide some updates on the development status for our key priorities. There have been some unexpected challenges which have lead to the launch timeline for EthNexus & the bAsset vault upgrade specifically to be pushed back a couple weeks.
If you have any questions about these updates, feel free to hit us up in #general or other channels in our Discord👍
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EthNexus:
- EthNexus will be the next core product offering we ship. We built this to be the easiest way for Ethereum native users to bridge their assets to Terra and begin earning yield. In the future, if the demand is evident, EthNexus V2 will provide a single button deposit and withdraw of stETH or ETH holders with Metamask wallet users. Nexus will also be expanded to other chains in the future and Nexus will become the “gateway” for users of other L1 chains to access the Terra ecosystem with their native assets and familiar wallets. This past week we came across an issue related to the Wormhole SDK which we need to bring EthNexus to life. We are in direct contact with the Wormhole team working to resolve the issue, but it has caused a delay in our launch timeline for this product. The revised timeline for EthNexus is now the 2nd week of March.
bAsset vault upgrade:
- We are upgrading our vaults to automatically switch between purely holding bLuna (collecting yield), and utilizing bLuna as a collateral to execute Anchor Borrow yield strategy based on whichever strategy has higher expected returns at some given point in time. We will also be including the option for users to receive their yield auto-compounded back into more nLuna and nEth. We plan to ship this upgrade alongside the launch of EthNexus (2nd week of March).
Bond Issuance Program:
- One of the other initiatives we’ve been working on is PoL (our Bond Issuance Program). Establishing protocol owned liquidity is still a key priority for Nexus. We see this as being important for the longterm health and sustainability of the protocol. This product is now complete from a development standpoint. However, in terms of timing of releases we would prefer to ship products which attract more TVL before shipping our Bond Issuance Program. As such we will be targeting the back half of March for a launch date for this program.
More details and related government proposal will be presented in advance (very Early March) to accommodate necessary updates.
Additional Updates:
- Development on the LP Money Market, and the Mirror Short Leveraged aUST farm has begun. We have been working on the back end schematics for the Cephii on-chain grid bot, which will be moving into development shortly. We are tentatively targeting Q2 for release of all three products. We have also been working on designs for a new product which we consider to be a huge opportunity. We will share more about this after we ship the products & upgrades we are currently working on.
We hope everyone is doing well and staying safe during these dark times. Our thoughts and prayers go out to anyone effected by whats happening in Ukraine.
It has been awhile since our last update. As such we wanted to provide some updates on the development status for our key priorities. There have been some unexpected challenges which have lead to the launch timeline for EthNexus & the bAsset vault upgrade specifically to be pushed back a couple weeks.
If you have any questions about these updates, feel free to hit us up in #general or other channels in our Discord👍
---
EthNexus:
- EthNexus will be the next core product offering we ship. We built this to be the easiest way for Ethereum native users to bridge their assets to Terra and begin earning yield. In the future, if the demand is evident, EthNexus V2 will provide a single button deposit and withdraw of stETH or ETH holders with Metamask wallet users. Nexus will also be expanded to other chains in the future and Nexus will become the “gateway” for users of other L1 chains to access the Terra ecosystem with their native assets and familiar wallets. This past week we came across an issue related to the Wormhole SDK which we need to bring EthNexus to life. We are in direct contact with the Wormhole team working to resolve the issue, but it has caused a delay in our launch timeline for this product. The revised timeline for EthNexus is now the 2nd week of March.
bAsset vault upgrade:
- We are upgrading our vaults to automatically switch between purely holding bLuna (collecting yield), and utilizing bLuna as a collateral to execute Anchor Borrow yield strategy based on whichever strategy has higher expected returns at some given point in time. We will also be including the option for users to receive their yield auto-compounded back into more nLuna and nEth. We plan to ship this upgrade alongside the launch of EthNexus (2nd week of March).
Bond Issuance Program:
- One of the other initiatives we’ve been working on is PoL (our Bond Issuance Program). Establishing protocol owned liquidity is still a key priority for Nexus. We see this as being important for the longterm health and sustainability of the protocol. This product is now complete from a development standpoint. However, in terms of timing of releases we would prefer to ship products which attract more TVL before shipping our Bond Issuance Program. As such we will be targeting the back half of March for a launch date for this program.
More details and related government proposal will be presented in advance (very Early March) to accommodate necessary updates.
Additional Updates:
- Development on the LP Money Market, and the Mirror Short Leveraged aUST farm has begun. We have been working on the back end schematics for the Cephii on-chain grid bot, which will be moving into development shortly. We are tentatively targeting Q2 for release of all three products. We have also been working on designs for a new product which we consider to be a huge opportunity. We will share more about this after we ship the products & upgrades we are currently working on.