In the month of January Francium integrated several protocols. We participated in an AMA hosted by Mercurial Finance. Apart from that, Francium is actively organizing community-based activities, the details of which are as follows:
Raydium Exploit Claim
On Dec 16, 2022, at 10:12 UTC, a malicious actor began an exploit on the Raydium Liquidity pool. An initial review indicated that the Raydium exploiter account was involved in other nefarious activity on Solana.The attacker compromised eight constant product liquidity pools on Raydium, totaling approximately ~4.4m USD in funds stolen. To address this Raydium has launched a compensation plan. Users could claim assets on http://raydium.io/claim-portal if the positions were affected by the exploit.
Francium users could claim their lost funds in the Phase 2-A of compensation. Users who held and maintained a position on Francium (https://francium.io/), will be available via the Claim Portal from January 20, 12:30 UTC. The portal will remain open for 2 months until March 21st. To claim funds users need to visit http://raydium.io/claim-portal. Connect wallet with the Raydium’s claim portal, list of lost funds will be shown on the portal, simply click “claim all” button to claim the funds.
1. Jupiter Terminal
Francium is utilizing Jupiter Terminal in the main DApp and making it super convenient for the users to do swaps. Users can now easily swap assets to switch from one strategy or a lending pool to another, without leaving the site.
Jupiter Terminal is an open-source and customizable swap UI that you can easily add to your website with just a few lines of code.
There are 3 different ways to integrate Jupiter into your site — Integrated, Modal, and Widget. You can Pick the most seamless option for your dApp.
Integrated Mode: This mode renders Jupiter swap UI as part of your dApp.
Modal Model: This mode renders Jupiter swap UI as a modal and takes up the whole screen
Widget Mode: This mode renders the Jupiter swap UI as a widget that can be positioned at different parts of your dApp.
Francium has integrated Snowflake, it is secure and feature-rich multisig platform on Solana. A multi-signature wallet that allows a group of users to approve a transaction before it can be executed. Many individuals and teams desire to have multiple parties sign off on a transaction, such as payments or withdrawals before it can be executed. This allows for more robust security, as it spreads the responsibility of your digital assets to multiple parties, and avoids a single point of failure in the case of a compromised individual or wallet
AMA with Mercurial Finance
We provided an introduction to Francium. We mentioned that farming and lending is available on Francium. We also stated that Solana ecosystem has a bright future as good projects are coming from the hackathon. We discussed Francium’s role in the ecosystem and how Francium can be differentiated from others.
Francium is promoting capital efficiency and we are offering flexible Defi solutions for both new and old users. We talked about PDN in bear market . We emphasized that we are a friendly DeFi application with nice user interface and neat calculator tool . We highlighted that we need to educate users about DeFi as it’s better than CeFi. We highlighted the significance of NFTs as a lot of liquidity is behind NFTs, however, there’re a lot of issues behind NTFs as well such as liquidation that needs to be resolved. We discussed the post FTX changes and admire how the community bend together and we remained tough.
We mentioned that $Bonk severed as a blessing to the ecosystem. We talked about how liquidity crunch can be broken by breaking the cycle example non-crypto businesses adopt crypto. We emphasized that DeFi will stay for longer period as it has utility value. We mentioned that liquidity crunch is the biggest factor that is holding back lending in DeFi. The host inquired are you considering adopting bonk? We replied that what we can do is to set up a farm for $Bonk we are talking to Bonk team on this matter, we need to set up protection for users as well before setting it up.
1. Long-lasting Bug Bounty
Whenever a new feature or strategy is launched Francium invites its users to test it. This activity is known as long-lasting bug bounty activity. The features could be tested at https://preview.francium.io/app website before it’s integrated into the main website. By participating users could win $USDC and Contribution points.
2. $SOL/stSOL Lending Pool Incentive Event
We’re partnering with Lido to give $LDO rewards to $SOL and $stSOL lenders. We offer one-click button for users to stake + lend $SOL as $stSOL on Francium. Or you can simply lend your $stSOL to earn lending interest + extra $LDO rewards.