Hi everyone!
If it's been a while since the last updates it's because we've been very busy shipping.
That being said, we're proud to announce the launch of the new ARCX Governance token! This token is special in two ways:
- It represents a token split of the old one with a 1:10,000 ratio. This means that if previously you had 1 (old) ARCX token at $10,000, you will now have 10,000 ARCX at $1! We are currently working closely with Coingecko to update it with the right numbers.
- Users can can exchange their old ARCX tokens for the new ones, by visiting migration.arcx.money!
Now, to get into the more specific aspects of what we've been busy building:
Smart contacts
- 🪙 We tested, developed and deployedArcxTokenV2 (or the new ARCX token) smart contract. Note - it implements the EIP2612 - permit function, allowing dapps to make approvals on this token via a signature instead of a separate transaction.
- 🛂 Improved a smart contract that will be used to sign up the users for their DeFi passports.
New
- (on app.arcx.money) 🚜 To incentivize liquidity of the new ARCX token we have launchedFarm 9! This time it uses a Sushi LP token composed of the pair ARCX(new)-ETH. To get these tokens, users will have to go to this page and provide liquidity. We know gas prices are very high these days, so to improve the user experience, we added astakeWithPermit()function on the farm, allowing users to stake without having to execute anapprovetransaction (using thepermitsignature)!!!1!
- 🕊 As stated above, we have developed and deployed the token migration page!
- ⚙️ Our credit score contract stores a Merkle Root hash of a Merkle Tree that contains the credit scores of all users. This hash is to be updated by a "Merkle Root Updater". Given this context, we have finished the system to update the Merkle Root hash in a secure way. There is just a bit more polishing to do, but we're essentially there.
- 🏺 In the same context as above: we finished the system to publish the entire Merkle Treecontaining the users' credit scores on an IPFS, from which we will derive the Merkle Tree root hash. We will use the Ceramic Protocol for this.
Sapphire UI
- 📦 Work on the new UI continues. Something neat to note here is the way we're developing it. Instead of building all from scratch, one team member is writing the UI components in a separate NPM package, and another one writes the logic. It's very likely that we will eventually publish this "ARCx-Design-System" NPM packageto allow the community to build applications on top of our contracts while preserving a familiar tone in terms of UI. This helps us too to ease the development of the new Sapphire UI.
Credit Score back-end
- 🤖 We finished our bot detector engine! Our team essentially developed an API that takes in an address and returns whether or not it thinks it's a bot or a real person. It is modular in that it has different "plug-and-play" validators with different rules, making it easy for us to adapt the rules and constantly improve our bot-detection service.
- 🎖 We completed our first "Protocol Service", which takes all relevant information (transactions, addresses and events) of a protocol and renders it in the right format to save it externally, or to a DB. Currently, we only supportCompoundbut we are not done on this front.
- 📈 🧠 This next point comes hand in hand with the one above: wehired a team of machine learning engineersto help us in delivering a credit score based on an address's transactions. We gave them the data from the Compound Protocol Service (from the point above) in a nice format and they started working on an ML model.
Did you know?
- For those who do not know yet, we have a page on our wiki where we publish the addresses for all of our smart contracts and DAO accounts. You can see them at https://wiki.arcx.money/misc/addresses
Exciting times ahead! Stay tuned~