Ooki Recap for May 3, 2022
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Ooki Recap for May 3, 2022

Community Contributor
Community Contributor

In case you missed the Ooki's Twitter Spaces here is a summary to get you caught up on the latest Ooki updates.

Ooki Updates

OOIP-11 On Chain Vote

The vote is currently active and ongoing for Ooki DAO's proposal to migrate loans to new interest model. Ooki stakers can vote on the Ooki DAO voting page. The necessary votes to reach a quorum has been surpassed with 120m votes in favor. This update will bring the newest interest rate engine.  

New Front end Dev Joining

New front end dev joined the team last week. “Nugget”. He was previously employed at a couple different consultancies developing web apps. He has around 6 years of professional experience in web technology (Javascript, CSS, HTML) and around 3 years of professional experience with modern Frontend development (React, Typescript) and is a senior FE developer. He also has built some neural networks to help trade crypto, using co-integration and pairs-trading

EVMOS Deployment

Work is continuing on the EVMOS deployment. A grant application was submitted following a forum discussion. Currently the timeline is two weeks for price feeds to become available. Pricefeeds are necessary to deploy Ooki on EVMOS. Talks are ongoing with EVMOS oracle providers.

Celer Integration

The goal of integrating with Celer’s protocol is to enable fees generated on all non-Ethereum chains flow to Polygon in the form of USDC.

Following the integration of Celer into the Ooki protocol, all fees generated from margin trading, borrowing, and lending will be converted into USDC and sent to the fee controller on Polygon.

All bridging is done through Celer. Initially the bridge function will be callable by guardians only, in order to ensure there are no issues and then will be opened for permissionless calling.

A forum proposal was submitted for liquidity for an OOKI bridge. Celer pool-based bridge requires $50k in liquidity per chain in OOKI. These OOKI will earn fees and only be used to support liquidity for bridging between chains.

Limit Orders

An update on the progress towards limit orders. The portion of the development relating to blockchain is completed and undergoing testing on onchain deployment.

The UI portion of the development will begin this week, no time estimates are available as it may take some time since this is a complicated UI feature.

APE/ETH Pair

A new proposal was executed by DAO which included new addresses, the UI side for the deployment is almost completed.

New Languages

The Ooki website has been translated into more languages, now with a total of 12 languages.

Dashboard Updates

The dashboard homepage now contains a feed of the latest blog posts so Ooki users can stay up to date on the latest news and information posted on the blog.  Additionally, the Ookiversity tab on the dashboard contains all the latest Ookiversity lessons.

Ooki Staking

In order to remind Ooki stakers to participate in on chain Ooki DAO governance votes, the Ooki app will now notify users when there is an ongoing onchain proposal that can be voted on before users stake or claim rewards.

Ooki DAO Proposals

Users can now view the list of the DAO onchain proposals in the staking / DAO tab along with a link to the Tally DAO operations platform.

Dev Updates

Yuno:

  • Trading refactor: an important refactor of the trading page has been released. This allows us to start working on the trading PRO UI and limit orders. It also improved the performance of the UI in general and get faster data loading.
  • Dex Selector: was working as a prototype. Now that the trading page refactor is done, we’ll proceed to integrate it to release it for all users.
  • Social Ooki: a step towards more social features. Users can now share their trading position, lending yields and loans performance on Twitter.
  • Governance: We have made the governance steps more visible in the Ooki UI. Currently the latest snapshot proposals and onchain votes are visible on the staking tab.

Roman:

  • Contract deployment for upcoming Eth deployment.
  • A lot of testing and focusing on itoken-collateral.

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

About Ooki Protocol

Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.