The DEX on Cardano.
Hey Riders, time for another quarterly tech development update for Q4 of 2022. The development in this quarter has been flowing thick and fast on WingRiders, with many upgrades and new features and functionalities for you to enjoy and benefit from.
Hey Riders, in this blog we are going to talk about a subject we have written about and feel an update is now due. The WingRiders Ecology Fund (WREF) has helped shape a core part of our philosophy about how WingRiders as a project should think and act responsibly toward the wider environment, which we as a project and all other businesses affect directly or indirectly.
Hey Riders, today we are going to discuss the very important topic of liquidity and how it affects various outcomes in swapping and the provision of liquidity. Let’s start off by understanding what liquidity is, why it is important, and what to be aware of in terms of slippage, price impact, and impermanent loss.
As per our blog in May, we announced that all those who provided at least 850 ADA of liquidity across farmable pools in the Inception Farming Epoch (IFE) phase, were rewarded with a FirstRiders Fungible Token (FT) as a bonus, to acknowledge their loyalty and early contributions.
Following the successful launch of our DAO Governance Platform and the Dashboard and the completion of the first DAO vote that has now concluded, we are pleased to announce the release of the new open-source repositories, helping to increase our DEX transparency by providing easier access to data. As we mentioned in our last blog about the voting mechanism, transparency and openness are the two guiding principles that have guided the system’s development. We will also review the DEX Blockfrost Adapter, which helps 3rd parties access DEX data.
Hey Riders, prior to the recent Beta release of our DAO Voting platform we published a few articles about Decentralized Autonomous Organizations (DAOs), general DAO voting mechanisms and finally our solution and a UI walkthrough. We understand that there is a lot of information to absorb at times, so we decided to do a TLDR of the governance system being used by WingRiders.
Hey Riders, building a future-proof DEX which is simple and intuitive to use with valuable functionalities is an ongoing process of adding new features and continuous upgrades. Q3 2022 has been a busy quarter for our devs with lots of activities. So, we thought we would highlight some of these in this blog just in case you missed any of them.
We have been hyping WRT governance tokens for a long time. When the TGE happened we were all excited and our team saw the great potential that it has. For a while the WRT governance token was just a simple token until we introduced Boosting, that allowed users to increase their epoch rewards just by using WRTs and enabled a snowball effect for WRT income with auto-compounding back to the Boosting Vault.
Following on from our last blog, we are excited to reveal the WingRiders DAO Voting solution. In this blog we will cover both the conceptual and UI side of the portal’s proposal submission and voting as these two key processes are at the heart of any DAOs Governance process.