Ooki News for Feb 21, 2022
News

Ooki News for Feb 21, 2022

Community Contributor
Community Contributor

Ooki is excited to share the latest in our Ooki News series hosted by Ooki. In this week's episode Ooki DAO has a few exciting features to share with you. Listen to the video below to learn more about what is happening at Ooki.

Reflexive Interest Rate

The new interest rate mechanism code is finishing up audits following the code4rena contest audit that was held last week. The preliminary results of the audit are very positive and no severe issues were found. Following implementation of the issues found during the audit the new interest rate code will be deployed live. Ooki DAO will also be releasing a new explainer video to explain how the new interest rate mechanism works.

Progress on Ribbon Finance Strategy for Ooki Treasury

The Ribbon Finance Strategy is awaiting the OOKI token price feed from Chainlink to be implemented. Currently Chainlink needs a greater exchange volume and liquidity in order to implement this.

Dex Selector

The Dex Selector is in its final testing stages. It is expected that it will launch together with the new interest rate mechanism in the upcoming release. As previously mentioned, this new feature Ooki will be introducing is a tool that is being offered to margin traders to aid in better execution for trades. This feature will allow for users to specify and select different dexes for where their trade will occur to get the best price possible. This will make trading on Ooki even better because it will allow users to specify which AMM their trade should be routed through, or automatically route the trade through the optimal AMM.

Individual Developer Updates

Yuno

  • Staking: built and deployed the new DAO tab. Users can view and delegate their voting power if they want to.
  • Interest Rates: adapting the UI internals to the new interest rates model.
    This, while staying compatible with all the chains.
  • Arbitrum: adapting all the features (lending, borrowing, trading) to use only WETH. Where it applies, there is a limitation met with the native token (ETH).
  • Native token wrapper tool: allows users to switch between native token and its wrapped version on all supported chains. (ETH / WETH, etc.) It will be added in a new “Tools” section. This helps solve the native token limitation explained in the previous point.
  • DEX selector: UI integration started with Drypto.

Oleh

  • ENS: Investigating solutions to get user profiles data from ENS.

Drypto

  • Interest Rate and Dex Selector Testing on Arbitrum.
  • Testing cross-chain fee bridging.
  • Begin work on Dex Selector modules for compiling payload data.
  • Review new interest curve model as well as model it in a graphing software.

Roman

  • Interest rate testing
  • Preparing for proposal
  • OldStaking claim vesties

Eugene

  • Writing automation tests for interest rate model + manual testing.
  • Fixed and deployed graph for arbitrum.
  • DefiLlama adapter
  • Working on rewriting graph mappings for new staking UI.

Other efforts

  • Code 4 Area: Completed audit of new interest rate code.
  • Hiring Proposal: Submitted to forum for discussion.
  • Zajno: The landing page hello.ooki.com created by Zajno was awarded by CSSDesignAwards. For UI and UX design and for innovation. In addition, the design has received a Special Kudos
  • Dex Selector sooner than expected.

That is all for DAO updates for this week. Join us next time on Ooki news for more news and updates.