Hello Winemakers,
First, a word on our recent submarine building mode, which we, hands down, immersed a bit too deep. Today, we are ready to reveal a significant portion of the devoted work we did under the hood in the past months.
We were (and still are) busy building the next version of the protocol.
Yes, it’s coming, and it’s on the mid-term horizon!
While a detailed specification and approximate release date will be announced later this October, we uncover a surface overview of the works, planned implementations, and research below.
Before we jump into the sweetest part, a word on other delayed works like the Arbitrum pools. We didn’t lose sight of these goals at all. Instead, we prioritized the technical improvements included in the next version to enable easy deployments onto other L2s, including Arbitrum.
Those new pools are is still due in the short-term pipeline. Make sure to follow our social channels for updates.
Now, let’s get into advancements coming with the next version of the protocol:
Vault standards: the sign of better times: As DeFi matures, standards start eating the space, which is a good sign for the industry. With planned implementations of a few existing ones, the assets of other projects and protocols will be able to get integrated faster and more seamlessly.
Optimized liquidity provision: liquidity providers won’t be exposed to inefficient mechanisms that bring more impermanent loss to their activity. What’s more, the process of LPing will be vastly simplified without missing on capital efficiency.
Rollovers and expirations are…a painful experience for liquidity providers, and that won’t be the case with an autonomous process offering a fluid LP experience.
Total UI revamp: We’ve heard your voices and are working on a far better UI for our flagship app. Zaps and bridges will offer a more intuitive and seamless experience.
We’re now tirelessly testing user flows internally to ensure you can navigate and utilize the protocol’s possibilities efficiently without the need to leave the app at any point.
FYTs and variable rates derivatives: We redesign from scratch the primitives that we initially brought to encapsulate yield generated and variable rates which you won’t find this design anywhere else in DeFi.
Getting rid of duration constraints impacting the usability and modularity of the derivatives the protocol can generate, thus creating the novel technical components needed for an efficient variable market in DeFi.
Revenue models: The central point of the protocol's next version is the implementation of revenue accruing mechanisms. Much research went into this aspect, and while we will share more details in due time, stability and profitability for the DAO are a core focus in the coming stage.
And a few updates on the organization's frontline:
New ‘A’ hires: A strategic extension round was made to secure the well-being of the project's development. Extreme market conditions did not discourage us from continuing to build a strong team: David Truong (prev. Aave genesis team & Coinbase) is now with us, a Product Manager is coming up and also hired an external pro UX/UI (ex-Google, Spotify, Facebook ) team that assists us in building the new UI.
We are also still hiring for several positions!
Governance: Building decentralized governance is a progressive process with bumps and obstacles. We did important research work on our side on that part, and we will propose a roadmap on that aspect in the coming weeks.
DAO collaboration: Stake DAO’s liquid locker for the APW tokens now allows holders to unleash its full potential across three surfaces: maximizing earnings (yield + bribes), and exercising governance with full voting power while offering liquidity to unwind your sdAPW at ease.
More frequent updates: We are committing to being more transparent about dev works and updates to the community. With plenty of things we worked on soon to be complete, there will be much to share with you!
We recently kicked off our cyclical Web3 event in Paris called Web3 DNA and are soon traveling to Colombia for ETHBogota and Devcon to spread the news about changes coming to the protocol.
All the elements above are crafted in line with our long-term vision of creating a modular and inertial protocol for interest derivatives. With the next protocol version, we efficiently tackle the cross-network and layers approach while focusing on scalability and usability.
We will bring the right tech to truly enable fixed, variable, interest rates and debt derivatives market in decentralized finance.
We want to share two more things with you to end this article with a bang.
While building the APWine protocol for over two years, our developers worked internally on a cool tech of significant importance that we will open and release in due time for the entire DeFi space to be able to benefit from it ⚙️.
Sharing tools in such a manner is a part of our builder journey and vision. A reminder that a more technical overview of the next version of the protocol will come in a separate article. Stay tuned!
P.S. there is also one more big surprise coming later this year 🍷 ➡️ 🤫
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Later today, we’ll be hosting Twitter Spaces, during which we’ll discuss the content of this article, followed up with a Q&A with the audience. Set a reminder here.
About APWine
APWine is the pioneering protocol for tokenized yield in Web3. Users can leverage the protocol to fix interest rates, speculate on APR evolution or receive future yield in advance (even today).
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