The community turnout for testnet.element.fi has been incredible since its launch on Saturday.
Let's reflect on the progress we've made so far βπ§΅
The stated goals for the testnet were π
β Let anyone test the whole platform
β Find bugs in the UI or contracts
β Get feedback to improve the platform
So, how're we doin'? 1/...
First takeaway: the community showed up, big time π€
Four days in, 1000+ unique addresses have interacted with the testnet and 5,000+ trades have been made via the pools. 2/...
From that, ~150 community members exchanged 700+ messages in our #testnet channel on discord.element.fi.
Feedback is flowing, resulting in 30+ issues and feedback raised. Some are volunteering to write docs. Some are sharing specs for products they're buildingπ« 3/...
In response to the immense feedback, the team has cranked out 44 commits across 26 pull requests for improvements to the UI and overall performance since Saturday. And we're stilling going πͺ 4/...
We all may have even contributed to temporarily crashing the Georli ETH faucet π 5/...
The launch has far surpassed our most optimistic expectations. Huge shoutout to everyone who's participated so far. The energy and care y'all are bringing means so much ππ§
We have more updates coming that you def need to check out so stayed tuned! π’
Onwards to mainnet! π 6/
β’ β’ β’
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Element brings liquidity to fixed rate income, allowing anyone to buy BTC, USDC, and ETH at a discount. The transaction costs are low and there are no hidden fees or locked terms. We like to say βnot locked yield, fixed yieldβ.
2/ For the more active DeFi users, we offer new ways to increase APY on existing yield positions such as on @iearnfinance or Eth2 Validators. We split your position into two new tokens, the principal and yield.
3/ You can now earn a higher APY through staking the principal tokens on our custom trading curve, enabled by @balancerlabs, providing liquidity to the fixed yield market.