16 July 2021
Ubiquity Editorial Staff
Takeaways: 1. CertiK security audit is now underway. 2. First-pass of the Bonding v2 contract code is complete - testing is currently underway. 3. Ubiquity has hired new team members to aid in community management, marketing, as well as software and business development.
It has been some time since our last development update, and with all of the progress taking place behind the scenes, we think it's time to let you know a little more about some of these recent advancements.
For the duration since launch, Ubiquity Dollar's price has continued to hold its stability, and the protocol's available liquidity remains healthy at this stage - through the continued success of the functionality and iterative testing and development of the protocol during this phase (the Rapid Prototyping Period), we intend to secure a solid foundation for the protocol in order to build towards increasingly polished end-products that will be ready for wide-scale adoption, by consumers and businesses alike. With this in mind, let's get into the recent updates!
First, we would like to announce that our security audit with CertiK is now underway. The CertiK audit began earlier this month, and will likely continue into August - if any notable changes to the audit schedule occur, we will provide you with an update as the information is made available to us. Stay tuned for more.
Next, the development progress on the Bonding v2 contract is continuing smoothly. The first pass of the contract's code is complete, and the activity surrounding this has now entered into the testing phase - if everything goes well, the contract update and migration may be ready sooner rather than later, and we will keep you updated regarding notable headway or changes.
The new bonding contract will have numerous improvements over the Bonding v1 contract, most notably altering the manner in which the length-based rewards multiplier is applied to staking rewards (for more background regarding the decision surrounding the redesign of the bonding contract, please see our earlier development update post from 23 June 2021).
Importantly, we will also no longer be burning the bonding share NFT associated with deposits, and will instead update the fields with relevant information as changes are made to the user's contract; there will be more to say about this in due time (😉). We are also planning to make it easier for users to stake their LP token rewards via the user interface through a "Stake My Rewards" button. We are interested in continuously making our dApp's user experience increasingly fluid, seamless and transparent, so if you have any issues or suggestions on this front, please let us know!.
For those who have funds deposited in the v1 Bonding contract that happen to need to withdraw their funds immediately, please see the information page regarding OTC manual recovery of tokens in the LP pool.
Ubiquity is Growing
In addition to the immediate progress being made in the protocol's development, Ubiquity is putting considerable effort into ensuring the short- and long-term goals of the DAO will be met as Ubiquity Dollar is built out and adopted. It is for this reason that Ubiquity is hiring new team members and deepening relationships with existing and prior contract workers, rounding out the team's available skillset, and positioning the DAO to meet these immediate and long-term goals. Please welcome the newest additions to Ubiquity:
April - Our community manager and content writer. You may have already seen her around Discord answering questions and interacting with community members - feel free to say hi and do not hesitate to reach out if you have any questions.
XAQ - Business developer, who will focus on pursuing and closing out partnerships and integrations. His initial aims will involve the pursuit of an insurance policy for the core smart contracts (👀 stay tuned...).
zapaz - Software development veteran with a history of contributing to Ubiquity's code - he will be aiding us in the test writing for smart contracts on an extended basis.
Zequez - Web developer who will be working on front-end development tasks, including tools that will collect and display protocol analytics through the dApp UI.
See Ubiquity DAO's Team page for more.
To anyone solicitously following the progress of Ubiquity at such an early stage and reading along with its updates, we greatly appreciate your interest and presence in the community. As always, if there is anything you are unsure of or would like to point out to us, please stop by our Discord server and have a chat.