July was a really explosive month for Francium Protocol as we worked really hard for the Solana Hackathon and also made significant progress on the technical and business development side of things. We are really excited to share with you guys what we have achieved in the past two months… Read on!
Honourable Mentions
- Solana Season Hackahon
The Solana Foundation has recently hosted the ecosystem’s largest hackathon where they received over 13,000 participants and 350+ project submissions around the globe, covering (but not limited to) DeFi, NFT, Web3, and other tracks.
The judges were all noticeable figures in the crypto space, ranging from VC partners to project founders, were assessing the submissions based on the following five metrics: functionality, potential impact, innovation, design/user experience, and composability. Out of the 350 submissions, a total of 39 projects were selected to receive generous prizes.
With outstanding innovation, infrastructure, and front-end design, Francium Protocol managed to emerge as the First Runner-Up for Solana Season Hackathon 2021 in the East Asia category and also clinch the Kin Award, generously handed out to creative projects which the Kin Foundation sees great potential synergy in. On top of that, Francium Protocol was also one of the top 5 most popular projects, voted by the community.
- Solana & Serum Grant
Solana & Serum has generously given grants to notable projects based on the quality of the team, vision, execution, and community involvement.
Francium Protocol was able to receive the recognition and affirmation from Solana and Serum, and with these accolades, the team is ready to bring their innovative leverage farming protocol to the DeFi community! Going forward, Francium will continue to contribute to the Solana ecosystem alongside the other projects through further innovations and partnerships. Stay tuned!
Protocol Development Status
The team has recently finalised and implemented the initial functions of the protocol.
- Farming: Francium allows our users to earn income by depositing their assets into our Leveraged LP farming pool. You don’t need to obtain those LP tokens before farming. We do that for you!
- Lending Pool: Users can deposit their assets in our lending pool to generate interest.
- Liquidation: Liquidators can liquidate the user’s position while the user’s debt ratio reaches the threshold.
To understand more on the functions mentioned above, please check out the documentations available here.
Francium is a project that values active innovation. Just like our name suggests, we want to be like the most active chemical elements in nature and always iterate product innovation, creating new reactions in the ecosystem everywhere we go.
Going forward, Francium will explore innovation in these areas:
- Bespoked Functionalities for LPs: This includes tools to facilitate the scope limitation of liquidity provision, profit target management, stop loss setting, position hedging, etc., allowing users to better manage LP and further reduce the risk of liquidity mining.
- Strategic Tool Integration: Diversified strategies are important for achieving sustainable income in farming. Just like Uniswap V3, the scope of liquidity mining can be set actively, or the position can be adjusted through external tools. On top of that, it may be based on financial methods such as various indicators and trend judgments commonly used in trading scenarios to achieve long-term benefits based on strategies.
- Secured Clearing Mechanism: In terms of protocol security, especially the clearing mechanism, Francium adopts two-stage clearing mechanism and oracle protection to ensure the stability of the agreement under extreme market conditions.
- Strategy Market and NFT: For each strategy that can be solidified into code, an NFT can be generated to represent the profit right to strategies as well as the strategist’s track record and other meritorious attributes. Fun fact: These NFTs can then be traded in the open market at any time!
Want to see what we’ve got? Here’s the chance! We are very excited to be joining Solana Season Demo Day, and here’s where you can see Francium Protocol in action!
Join us on 28 July, 7am PT / 3pm UK / 10pm HK at: http://twitch.tv/solanatv
Partnerships
Based on the goal of jointly exploring and creating greater value for users, we are honored to have the opportunity to cooperate with the following projects:
- Raydium
Raydium is extremely pivotal within the Solana ecosystem and they serve as one of the important building blocks for Francium. Going forward,we will be exploring together with Raydium in the management of LP and also the strategies around LP.
- Pyth
As the unrivalled oracle service provider of the Solana ecosystem, Pyth will be delivering real-time on-chain market data. This is extremely important for Francium Protocol in ensuring we provide high fidelity to our users while also creating the possibility to support more sophisticated assets in future.
More partnerships are in talks, and we are excited to share more about it as we progress. Francium Protocol will always have our arms wide open for partners in the Solana ecosystem to jointly explore the collaboration opportunities.
Check out our socials:
It was an eventful month for us, but we have more exciting events in our pipeline! Don’t miss out on future developments and ongoing campaigns which we are running — head over to our various social media channels below to stay up-to-date!
- 🌐 Official Website: https://francium-protocol.io
- 🐦Twitter: https://twitter.com/Francium_Defi
- 💬 Telegram: https://t.me/franciumprotocol
- 👾 Discord: https://discord.gg/53rrwuRFra
