Welcome to the first Cora monthly newsletter! This edition will discuss the latest development, design, and community updates of January 2023.
TLDR:
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Development updates have been focused on improving position management and performance.
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We are working on a multi-chain module for the protocol.
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The alpha version of the protocol is ready.
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Our design team is working on a rebranding.
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We participated in three AMAs, won third place in a competition, and have reached more than 1000 members on our Discord server and more than 1000 followers on Twitter.
Development Updates
The Cora team has been putting in a lot of effort and we’re excited to announce that our alpha version is now finalized.
Position Management
For those who participated in our testnet events, you may have noticed that the position management feature was disabled. But, that’s all in the past now as we have successfully completed the position management development, and is ready to be tested.
Going forward, here’s a general overview of what the position management will look like:
Positions in our platform will be represented as NFTs (Non-Fungible Tokens), with each NFT being unique to a particular price model of a lending pool. It’s important to keep in mind that each lending pool can have its own price model.
Performance Optimizations
In addition, we have made some other exciting improvements.
For example, we’ve automated the compounding of fees and liquidity. This means that all fees earned by liquidity providers will be automatically added to their positions. We’ve also made some internal changes to optimize performance and reduce gas costs, making the deposit-and-forget experience for users even more seamless.
Multichain Governance Module
The Cora protocol has been developed with a multichain mindset. We have completed the development of our multichain governance module.
The module will allow us to take decisions in the main chain and propagate the results to other chains, eliminating the need for a separate governance process in each network.
Front end / Web App
The front end of the module has been completed and the alpha version is undergoing intensive testing and improvement. Recent updates include:
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Removal of subgraph calls
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Completion of position management
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Proper handling of transaction speed-ups and cancellations
Research
Cora’s lead researcher Anna has completed the implementation of a highly efficient auto-compounding rewards system and is soon to release a related paper. The next steps for Cora are the deployment of the alpha version, the launch of governance, and the establishment of a DAO.
Design Updates
Cora is in the midst of a re-branding process and has just introduced a talented 3D designer to create something special for our community. We are sure you will love what we’re preparing for you as it will help to enhance the look of Cora and make it stand out in the blockchain space.
Community Updates
Cora has made great strides in the blockchain space, from launching two testnets with the DegenScore and Aurora communities to winning third prize in the BNB European Innovation Competition. These achievements have allowed Cora to gain exposure to industry experts and potential investors, while also providing us the opportunity to showcase their protocol and mission.
Edson Alcalá, co-founder of Cora, was invited to three AMAs: two with the Aurora communities and one with BNB Chain. In these events, Edson discussed Cora’s mission to revolutionize the traditional lending process with our decentralized protocol. During the events, discussions focused on loans and Cora’s vision in the space. They were insightful conversations that left a lasting impression and showed the potential of Cora’s protocol to bring an uprising to the lending industry.
To further their success, Cora has welcomed over 1000 new members to our Discord community and over 1000 followers on Twitter. We are thrilled to have you on board and appreciate your input as we continue to perfect our protocol. This influx of followers and members is a testament to Cora’s commitment to transform the traditional lending process and their dedication to creating a liquidation-free future.
We hope you enjoyed this monthly update newsletter. Be sure to follow us and check back next month for the latest news on Cora!