Excalibur report #2 — A big step forward
With the last report now two weeks old, it seems like a good time for a quick update on our latest accomplishments, the current situation and upcoming events.
After a strong start, the platform’s numbers stabilized for a while, to finally get into a recent upward trend again.
We are now approaching 50M TVL, and our volume is gradually growing, with a +50% increase over the last few days, consolidating around an average 5M in daily volume.
We still have a long way to go, but we are definitely moving in the right direction!
The last few days have been especially fruitful in terms of partnerships, and have allowed us to develop the following notable collaborations:
- Firebird, OpenOcean and Paraswap (not live yet) for swap aggregators
- pain.finance & Yieldwolf for yield optimizers
Major partnerships are also currently being actively worked on behind the scenes, as we start to gain more exposure in Fantom space.
$UST adoption on Fantom
We’re still by far the #1 UST liquidity source on Fantom with 14M+ on our UST pairs, and we didn’t even being to distribute the $255k Terra incentives yet!
With upcoming pushes from Terra community to further expand UST presence on the chain, Excalibur is well on its way to becoming a focal point of the ecosystem.
After only three weeks of launch, the governance has already had the opportunity to be tested twice, with one proposal passed with flying colors a few days ago regarding emissions reduction, and a second one currently active to release funds for a marketing push.
As some of you may have noticed, we have made a constant effort to refine our app. General enhancements, minor ui/ux fixes, and the implementation of some of your many suggestions, have been a priority for us in order to best improve the overall user experience on Excalibur.
Coming this week
- Terra $255k UST incentives
We have finally received the incentives from Terra, and they will be put to work in the next few days!
They will be allocated over a 3 month period (three 1-month rounds) to Excalibur UST stakers (65% to UST/FTM, 35% to UST/USDC). A fresh 30-day lock will be required to take advantage of them.
We are currently doing the last testing run on these contracts, and if everything is in order we will be able to officially launch this campaign right afterwards, i.e. at the beginning/middle of the week.
We know we are a little late with this one, as we took a bit more time than expected to rework the participation process, but this time it’s for real! The first bonding session will take place at the end of the week, and we’re all pretty sure in the team that you’re going to love its implementation.
We’ll use the remaining time between now and then to create explanatory content to better present its inner logic, how it should/will be used, and the different options it brings on the table.
3. Schedule emission & supply control
This is probably the keystone of our project, that will have a decisive impact on our success. We believe that the data and results obtained since our launch have allowed us to refine our final strategy sufficiently to now make it official.
This will include the precise emissions reduction plan (EXC, GRAIL, and total), as well as our more general approach to GRAIL and some key-related issues, such as GRAIL pricing or the possibility (and potential means) of making it liquid.
A media entirely dedicated to this issue is already being drafted, and should answer to all your questions on that regard.
More generally, you can expect a special effort from us in terms of published educational content over the next few days and weeks, both on existing content and on our features under development (who heard bribes & gauges?).
Until then stay alert, as it promises to be a very busy week!
Main Telegram: https://t.me/excaliburexchange
Announcement Telegram: https://t.me/excaliburexchangeann