Monthly Community update #3

Welcome AutoFam to our third monthly community update!

This month has been quite moving so to say. We have gone successfully through all the Venus governance stages to get the funds back where they belong; to all affected users! It has taken a big load from our entire workforce to ensure a quick and smoothly claiming process for all affected users. We can now safely say that all affected users are being able to recover what is rightfully theirs.

Next to that our developers have rolled out some other additions to the platform and we have much more upcoming, find out more below!

Venus reimbursement

The time is finally here. We feel just like all affected users that this issue has taken too long and what remains now is to refund users as quickly and securely as possible.

After the successful approval of the Snapshot vote and VIP on Venus Protocol, the next step is to return the funds to all affected wallets. We are glad that we can finally move forward. In this article we have set out the process for reimbursements and what affected users need to do next to claim their funds.

Autofarm — Venus reimbursement page.

Front-End developments

  • Landing page

If you have visited autofarm.network in the past month, you probably already know, but: the new landing page has been deployed! This means that you can now easily browse through all the newest and hottest available pools on autofarm. The home page will be a working process, and we hope to add new features and information in the future, let us know what would you like to see here!

  • Remove liquidity button

We had been receiving some feedback from our users that sometimes the “Remove Liquidity” button was not working. After investigating the reports we found out that some browsers and wallet extensions don’t support ERC712 permits which our “Remove Liquidity” mechanism used. Therefore, we have now added a fallback to another way of doing it in cases where a browser or wallet extension doesn’t support this standard to further improve user experience.

Community Aspects

AUTO on Flexible Savings in Binance
Since early September users are able to deposit their AUTO on Binance and earn up to 1% on their tokens using the Flexible Savings option in Binance. Just send your AUTO to Binance, and turn on the Flexible Savings to start enjoying extra yield on your AUTO tokens. Currently the savings are sold out, so the demand is high. Keep an eye out on the Binance app if you want these savings as well!

Upcoming call with Function X
Join Agus and Luuk on 22 September in the newest community call from Function X, a future partner for Autofarm. The team will be representing the Autofarm protocol and introducing our ecosystem to Function X upcoming all-hands meeting. Also, it’s a great opportunity for our community to learn all about Function X, a scalable, open, and decentralized ecosystem, enabling all to build entirely on and for the blockchain. See our socials for more info on this.

Autofarm Twitter Spaces Community Call
On August 29 we had our latest community call on Twitter Spaces with our guest MojitoSwap. You can listen back to the Community Call with MojitoSwap here.

Latest governance voting
Due to the work required to perform the compensation claim for the Venus issue, the Autofarm developer backlog was quite full this month. Since the development of the new contracts and reimbursement front end took quite an amount of time from our entire team, we decided to postpone the monthly vote to decide between burning and revenue. The vote will be reinstated and will be back as usual from next month!

Upcoming developments

  • Zap function

AutoSwap will be going through a complete metamorphose. This for one will enable the possibility to Zap into vaults through AutoSwap. Keep your eyes peeled ;)

  • New strats

We are (to say the least) very stoked about this part. The new strategies will be based on the EIP4626 (Yield Bearing Vault) standard developed by year developers. These contracts will be audited afterwards as well, but we will have more news about this in the next few weeks.

  • APR improvements

Currently the developers are busy setting up a complete historic database which will make the APR calculations even more precise.

  • New dashboard

Yes you have read this well. A new dashboard will be coming soon sers.

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