deFarm Monthly Updates - October 2023📑
Since the last update in July when the market was quite stagnant, the deFarm team has continued to develop to deliver the first version of Single Farm to the community. And we made it this Uptober. With the deFarn team, we construct without regard to prevailing market conditions, showing our commitment to innovation. We are delighted to announce the release of the Public Testnet, allowing the community to engage, explore the social investing experience, assess the product’s user interface and experience, and share your valuable feedback.
Public Testnet
In preparation for mainnet, the implementation of deFarm needs to be tested by as many participants as possible. To facilitate this, a public testnet was being launched that anyone can join. Since now, deFarm public testnet is live on the Arbitrum Goerli, and you can check it out here.
The team has collected feedback from the community from the private testnet which has been invaluable in making improvements to the protocol. We bring some redesign to upgrade the protocol, along with some exciting new features to push the limits of the DeFi user experience with new features and UI/UX improvements.
You can find the whole documentation here.
How to Test deFarm
Be sure to switch your wallet provider to the Arbitrum Goerli network in order to use the testnet free of cost. You can get ETH, USDC testnet tokens to test from the faucet here - simply select the token of your choice and request. Then you are good to test all available features of deFarm testnet. For further instructions on how to create a farm, invest in other farms, feel free refering to the How-to Guide.
What’s Next?
Seasonal Farm - Private Testnet
Following the successful launching of the public testnet for the Single Farm, we are now focusing all of our development resources on evolving the upcoming product - Seasonal Farm. We anticipate that the private testnet will likely be available by the end of this year.
Due to the limited number of testing slots, we kindly recommend staying updated through our Twitter for more regular updates, ensuring you stay informed and don’t miss any opportunities.
User Interface Update
We’re received plenty of positive feedback regarding the dApp’s user interface and experience, highlighting its user-friendly and accessible design. Nonetheless, in our upcoming update, we’ll be enhancing the interface further to deliver a comprehensive DeFi experience for our users.
In the forthcoming update, you will have the capability to seamlessly transition between the manager’s prediction chart and a live chart, which will display real-time data sourced from our partner, Vertex Protocol. This will allow you to monitor farm position execution, price change, and relevant information pertaining to the markets. As the farm manager, you are able to incorporate indicators and draws directly on the live chart.
Simultaneously, we’ll be synchronizing the mobile version to ensure that users enjoy a more uniform and seamless experience across devices.
SocialFi Element - deFarm Seed
As an on-chain social platform for active asset management, we encourage users to interact with the protocol through the frontend interface. We firmly uphold the principle of individuality, ensuring that each user possesses their unique deFarm Seed. This grants users the ability to trade or hold, thereby unlocking various manager-specific benefits, including access to private farms, private group chat, and reduced fees.
Following our principles, at the heart of the social layer, applications are mainly farm managers, who want better control of their data, freedom of speech and the ability to monetize their social media following and engagement.
Within the Profile, users will find details about other users’ Seed. A higher seed price signifies greater trust in their trading/investing strategy or a strong reputation built over time. Furthermore, users can also explore the quantity of seeds held by that user as a reference for further transaction. Additionally, users can access that user’s trading and investment performance, as well as their activities within deFarm.
In addition, we’re also developing a gamification concept to increase user engagement and excitement, with daily tasks and quests to receive social points and rewards. For further understanding of our social layer concept, please refer to our docs.
By the way, feel free to try out deFarm on testnet! Your feedback is always appreciated. Feel free to follow deFarm on Twitter and join the discussion on Telegram!