Cyclos Progress Update #3

Cykura
3 min readOct 29, 2021

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Dear Friends of Cyclos,

Firstly, a big thank you to those who are participating in the closed alpha mainnet launch. The feedback we have received so far has been extremely constructive and helpful. Our dev team is hard at work incorporating many of the elements you’ve requested and making tweaks to the backend to improve the speed and scalability of the platform.

To all those that have tested the closed mainnet but have not gotten a chance to provide feedback yet, please go ahead and fill in this form here.

Updates on the Market Maker

Some of the product improvements the dev team are currently working on for the concentrated liquidity market maker include:

  • Individual profit indicator for your position i.e. amount of fees collected
  • Clearer price range indicator of the chosen position
  • Total USD value of liquidity provided
  • Whether your position is currently “in range” and earning profits

As we iterate the Cyclos product, we will continue to gather feedback from our alpha testers.

When public mainnet launch? We want to be as transparent with the community as possible. We are targeting the 3rd week in November for opening up the mainnet product to the public, but do not want to make any promises. This timeline is based on all of the feedback gathered so far and the time it will take the dev team to complete the improvements we have planned (both to the frontend and backend). We want to make sure the product we release to the public is the best version possible. There are lots of improvements to be made, so we’ve got our heads down and are hard at work on them. In addition to the several hundred testers who currently have access to the closed mainnet, we are on-boarding another 50 this week via a high-level quiz specifically designed to target advanced level DeFi users who have a better understanding of concentrated liquidity. Our aim is to gather more incisive observations which can be further incorporated into the product before we release it on to the public.

Some Clarifications on Our Previous Roadmap

Firstly, we want to sincerely apologize to our community members for any miscommunications regarding our roadmap. There were a number of factors which contributed to changing milestone targets. One of the main factors was we ended up spending a lot more time iterating CycloSwap than we had originally planned. We are proud of the work we put into CycloSwap and the result that has come about, but it inevitably pushed back the timeline we first imagined for the release of the concentrated liquidity market maker. In the end, all delays were done for the benefit of the project, and ultimately, the supporters of the project. However, we realize this was difficult for many of you to process, and we hope that sharing this reasoning and communicating as clearly as possible helps foster trust in the project.

We want the community to know too, that our dev team of four has been at work around the clock and on weekends to bring these products to you. We live for the feeling we get when we’ve built a product that the community are super excited about. We accomplished that with CycloSwap once, and we will do the same with our Market Maker this time.

Update on Staking

To keep it short and sweet, we aim to have CYS staking ready by the second week of November. We’ve dedicated resources to making that happen, and are excited to give community members the chance to earn rewards for their long term support.

Concluding Thoughts

November will be a very big month for the project- whether we originally intended for this to be the case or not :) In addition to the launch of the mainnet and staking, we have a big update coming as well this month that will expand the reach of Cyclos’ product suite into a new realm. More details on that to come.

We sincerely hope this message from the team serves to clear up any misunderstandings with the community and keep a spirit of good faith between our supporters and the team. As always, we welcome all our supporters to DM the team members if you have thoughts, suggestions, constructive critiques, or even want to join and work with us.

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Cykura
Cykura

Written by Cykura

The first concentrated liquidity market maker on Solana

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