The road ahead with the latest roadmap
As a quick recap, we launched phase 1 to pilot and launch mainnet. We then introduced how to mint the xTONIC token by staking (kaching!) with great fanfare and delight! Also, a special shout out to those that also participated in the airdrop. As we have expanded utilizing an aggressive asset onboarding strategy, we have quickly climbed up the leaderboard to be the top money market in the Cronos ecosystem with a total supply of $454M and total borrows of $188M ($ 266M TVL) (as of 30 June 2022).
To continue with phase 2 and during this time of rising interest rates from central banks, Tectonic aims to continue building additional community incentives (i.e. maturity vaults, reward bounty, etc.) to offer competitive interest rates with attractive liquidity incentives. In addition, we intend to also make conservative efforts to build, while adding security features to bolster and expand our product portfolio to not only help guide but also reward our loyal fans for coming along with us on the journey.
  • Maturity Lock Vaults: This feature allows users to lock their xTONIC in different vaults (1 month, 6 months, 12 months, 48 months) to earn additional yield while help securing the platform through insurance module.
  • Reward Bounty: Users can trigger the conversion of protocol revenue voluntarily to earn rewards of 0.25% of the total pending yield. The user flow will be super simple that after a few clicks (while remembering to pay the nominal gas fee) it is extra money in the bag! Rewards are transferred upon transaction completion.
  • Market Insights: It will allow investors to obtain a high-level view of the assets’ supply and borrow volume. We recognize that users want to see historical data and we are delivering that along with their corresponding APY.
  • Rewards/tToken Visibility: To provide end-to-end visibility on lending process, tToken balance will be displayed in the dashboard next to the corresponding token asset so that users can track the entire lending and borrowing process. We are also paving the way for more utilities on tTokens, including stableswap, used as collaterals to borrow on other protocols.
  • Liquidation Threshold Notification: Borrowers may face certain fears in bear markets when certain positions face greater uncertainty. To alleviate the burden for borrowers, the protocol will enable notifications to a notification center alerting affected users. Users will receive a reminder message or prompt to act when their borrowed assets are at risk, thus avoiding liquidations by adding more collateral.
  • Analytics Dashboard: In the near future, a more comprehensive version of Market Insights, a.k.a Analytics Dashboard, will include a series of additional metrics that aim to provide even greater visibility and depth to the markets. Graphs (with corresponding markets) may include:
    • Total Deposits vs Outstanding Loans
    • Loan to value Ratio
    • Deposits, Redeems and Outstanding Deposits
    • Borrows, Repays and Outstanding Loans
    • Total Suppliers (by Market)
    • Total Borrowers (by Market)
    • Most Recent Transactions

Next Steps & Phase 3

Apart from these proposed Phase 2 features that we are very excited about, we are constantly building features to strengthen the utility of our tokens and updating UI/UX for new feature enhancements in Phase 3. We are also in active discussions to support multiple wallets and bring more partners to the ecosystem. Expect additional market listing announcements and we invite fruitful business partnerships to register interest by filling out details here.