Dear Cyclosnauts,
Today we’d like to share with you some updates on our core product- the Concentrated Liquidity Market Maker.
Product Updates and Fixes
This past week our team focused on optimizing both frontend and backend of the protocol. Thanks to the input from the community, we’ve been able to quickly identify any quirks and deal with them. Some of the fixes we’ve worked on this week include:
- Fixed expected output amount for swaps
- Corrected USDC/USDT display balance on initial load
- Created a button to generate token accounts automatically if they aren’t already available.
- Optimized the list of active user positions
Over the course of the weekend, our team will target the following points next:
- Support for multi-pool routing for swaps
- Displaying the best swap route across three fee tiers
- Correct display of updated balances after swaps are completed
- Correct display of fees earned
What’s Coming Up Next?
We are excited to let our community know that next week our security audit for Cyclos v2 will begin. This step is crucial in the process of scaling the product. Before we begin listing tokens from partner projects and inviting the wider community in, it is important we gain the seal of approval from a renowned 3rd party audit firm. For this, we’ve partnered with Inspex, one of the top auditing firms in the crypto space.
Launching Cyclos V2 on mainnet was an important milestone in terms of planting the flag and pouring the foundation, but the real magic happens with the growth phase. With concentrated liquidity, a little bit of TVL goes a long way. Once our audit is complete, Cyclos will focus on growing our trading pairs and TVL. With this growth stage, we will also begin implementation of the tokenomics plan. More details on this will follow via official announcements.
The Cyclos Evangelists
A huge part of attracting newcomers to the platform depends on the community. That is why we are calling on anyone interested in promoting Cyclos to new users to join our Cyclos Evangelist Program. The program is essentially an ambassador program, where we will invite our community members to complete various tasks on social media. These will include writing Medium articles, creating tutorial videos, infographics, tweets about Cyclos, etc. All of your submissions will be gathered over each set period (TBD) and $CYS rewards will be distributed depending on which tasks have been completed.
For members of our community that are interested in participating in this program, we invite you to use this form to let us know.
Cyclos is a global product and we want to reach as many audiences around the globe as possible. Therefore, if you speak Vietnamese, Turkish, Chinese, Korean, Indonesian, Russian, Ukrainian, Spanish, French (any language) we invite you to participate and help us spread the message of Cyclos.
Also, if you don’t already have Discord, please sign up and join us on our Official Discord Channel, where we will be organized all Evangelist activities.
Closing Thoughts
We are really looking forward to more closely working with our valued members of the community going forward via the Evangelist program. We know times are tough with the current market conditions, but it’s times like these where we must keep the faith and fight forward. The project is at an important juncture at this time and we can’t wait to start scaling what we’ve spent the past several months building.
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