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Cardano Ecosystem

WingRiders

05/03/2023

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WingRiders monthly update - April

Welcome to the monthly highlights recap at WingRiders. The platform continues to go from strength to strength with continual tech developments, partnerships, and the addition of farms.

WingRiders monthly update - April

Welcome to the monthly highlights recap at WingRiders. The platform continues to go from strength to strength with continual tech developments, partnerships, and the addition of farms. This month was WingRiders' year anniversary on the mainnet, with many exciting developments on the platform.

WingRiders is 1 now

12th April marked the first year of WingRiders going live on the Cardano blockchain. To celebrate this milestone, several gifts for the community were revealed. The release of the light-mode and the ability to switch between ADA and USD for asset pricing. Here is the TLDR to sum up some of these achievements:

  • The DEX was built and launched in a matter of 7.5 months, with the 1st Testnet coming out of stealth with proof of capability after 3 months.
  • The seed round token sale was done only after a fully functional testnet was made public.
  • Committed to decentralization the platform launched from day 1 with 100% of the ADA in liquidity pools (50% of TVL) autostaked in pools defined each epoch based on liquidity provider voting. The rewards go back to the pools, thus benefiting the LPs.
  • The first DEX to provide Ledger and Trezor hardware support and direct Android mobile integration with the DEX (cable and Bluetooth)
  • Retail token sale (done in 4 stages via 3 IDOs on 3 blockchains and a whitelist ICO on Cardano) was done after the DEX was live for multiple months on the mainnet with full features deployed. Whoever liked the product could buy into the DAO governance tokenomics.
  • The TGE and listing of the token happened 3 months after the DEX was a fully operational working solution.
  • All this is based on the commitment to the value: delivery first, — Marketing later but always letting the product speak for itself.
  • The project went through as the first adopting platform the 1st bridged forms of ETH, BTC, and stablecoins (USDC, USDT) to Cardano and the challenges they later brought.
  • Despite losing its market leader position and some project funds in the Nomad hack, the project continued delivering, building the first fully on-chain DAO governance in Q3 2022.
  • The last six months were the dawn of an even bigger upgrade, with the build of Stableswap pools coinciding with the emergence of native stablecoins on Cardano. This effectively built on top of the Uniswap v2 AMM DEX model and additionally a Curve Finance type protocol, effectively doubling the scope of what the project set out to do in the beginning.
  • To sum up, WingRiders has over delivered on its initial scope by a multiplier, and under the direction of the DAO keeps improving and growing even further. Many new exciting features are on the roadmap that can propel the project to new heights with the start of the new bull market.

Read the latest blog for a more detailed view of these highlights here.

DEX listed on CoinMarketCap and CoinGecko

The month started with the listing of the DEX on the two most trusted cryptocurrency market data platforms in the world, Coingecko, and Coinmarketcap. Now you can easily access real-time trading pair performance, track prices, and track trading volumes. Later in the month, the DEX was further listed on the CoinMarketCap DEX Scan, a tool that scans the most popular decentralized exchanges and provides a breakdown of the relevant data.

Open-sourcing CAB (Cardano Application Backend)

CAB is a library that helps developers of Cardano apps for browsers and Node.js. It is hoped that it can help other builders on Cardano as well. It supports building & signing transactions, loading wallets, and other common things discovered when working on WingRidersDEX. You can find it here.

Partnerships

WingRiders teamed up with Iagon; a cloud computing platform offering access to a decentralized $IAG-powered shared storage economy, to give you more Cardano farming rewards. So by providing liquidity and depositing your liquidity provider tokens in the new ADA/IAG farm on WingRiders, you get: $WRT on WingRiders and $IAG on Iagon as a part of the Iagon LP Rewards Program.

In continuation of the partnership with Indigo Protocol, a new ADA/INDY farm was added to DEX, deepening the collaboration.

The ADA/RAG farm on WingRiders has been extended! It was initially set to end soon, but it was decided with CryptoRaggies to extend it for further double yields. Don’t miss out on this opportunity on WingRiders.

Farm TVL and APRs going strong

It is encouraging to see that farm and TVL performance is robust overall, despite the ongoing bear market and prevailing macroeconomic conditions, thanks to the recent inflow of liquidity.

DAO voting

The DAO members voted for the discontinuation of rewards distribution to v1 farms, which passed, thereby making epoch 403 the last where rewards would be distributed to v1 farmers. Starting from the following epoch, 404, rewards would only be distributed to v2 farmers.

A proposal was put to the DAO and passed unanimously, to build a non-custodial smart-contract-based launchpad that focuses on security, decentralization, and user-friendliness. The primary objective of the launchpad is to help new projects and their tokens launch via means of price discovery, raising funds for themselves, and gaining entry to the liquidity market, while giving regular users the option to be an early supporter of their favorite project and be among the first token holders.

To celebrate the one-year anniversary of WingRiders being listed on the mainnet, three gifts to the community were unveiled during this period. Lite mode, ADA/USD price switch for assets, and Swap Pro mode:

Swap Pro mode is live

A new feature for swaps called “Pro mode” is live. This new advanced trading panel will help traders streamline their trading activities by providing quick access to all essential information and trading tools in one place, which saves traders time and effort and allows them to focus on analyzing the market and making informed trading decisions.

Light mode is live

The release of the Light mode has been made to improve the user experience of the DEX. While this update may not be significant in terms of functionality, it is designed to enhance the visual appearance and usability of the platform. The purpose of this upgrade is to ensure that users have a smoother and more enjoyable experience while using the DEX. Every user has different preferences, and many have requested that the Light mode version of the platform also be made available for those who like to use it. Light mode provides a bright and clear visual display, making it easier to read text and view images in well-lit environments.

ADA/USD switch

A long-awaited addition suggested by the DAO community was the ability to see the price of an asset in both ADA and USD value. With this new feature, users can conveniently switch between both values for each pair in the Pools section.

Export transactions to a CSV file

You can also now export all your transactions to a.csv file, to analyze your transactions, track your interactions with the DEX, and optimize your strategies with ease.

Support for small SPOs

WingRiders keeps highlighting three of the smaller staking pool operators (SPOs) every week. all in the interest of encouraging more decentralization.

Interviews

WingRiders hosted a Twitter Spaces on the important topic of Cardano’s Real World Impact, a discussion with projects with social, economic, and environmental impact goals. This Space was attended by 1 600 listeners live, hearing how these projects are using Cardano and blockchain technology for the betterment of society and the wider natural environment. Listen in again here.

WingRiders also hosted another successful Twitter Spaces on the important subject of stablecoins with some of the main players in the ecosystem, including Coti’s Djed, Indigo, Mehen, and Lace Wallet. The aim is always to help expand the Cardano community’s knowledge of this and other important topics.

Also as part of the anniversary celebrations, multiple interviews with Cardano with Paul and Learn Cardano were conducted about the year on the mainnet and the trials and tribulations during this exciting period.

New avatars revealed

Continuing with the anniversary celebrations, the new faces of the WingRiders community were revealed. The five characters are the Rider, Professor, Wink, Phoenix, and Nera, whose names were all chosen by the community through multiple polls. These avatars are here to guide the community through the exciting world of DeFi and the DEX. Each represents different values and skills, so whether you need security, education, creativity, or governance, these heroes have got you covered.

WingRiders➡️Twitter ➡️Discord ➡️Telegram ➡️Reddit ➡️YouTube

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ORIGINAL SOURCE

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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