Tadpole Finance Monthly Report
How’s your TAD breeding going? We hope you breed a lot of TADs! Anyway, just like the previous month, here is what we have done and achieved in March 2021:
1. DEVELOPMENT PROGRESS
# DEX Liquidity Mining
It has been approximately 5 months since we have launched the Dex liquidity Mining, and from the total of 200,000 TAD tokens that could be mined, we have passed 35% progress this month.
Read here for the details.
DEX Liquidity Mining Report (April 1st, 2021)
# Tadpole Expansion plan: Bridge ERC to BEP
Thanks to all Tadpolers for participating in Tadpole’s expansion voting, now we are moving forward to the new stage of development.
Currently, we are in the process of settling up all the requirements of the bridging process, and we regret to inform you that we must postpone the Tadpole Finance Platform Release. At first, our developers planned to use Burgerswap as the bridge, but then we found an error on the Burgerswap platform. Hence, we decided to build our own bridge which takes more time to develop. If nothing goes wrong, we estimated the bridging process would be done in two weeks.
Hopefully, we can finish the development on time, in the mid of April 2021, and proceed with the platform release as soon as possible. Thank you for your attention!
# Tadpole Finance Platform
Just in case you are wondering what you can do with our upcoming Tadpole Finance Platform, here is a sneak peek for you.
- Saving and Lending
The main features of Tadpole Finance Platform are saving and lending services. You can save your BEP20 tokens and get interest, plus an amount of TAD token as a reward. You can also lend any BEP20 tokens you want, using another token as a collateral, and you will also get TAD tokens as an additional reward. So either you become a supplier or a lender, you can earn TAD tokens. That what’s called Platform Liquidity Mining, and this program will only last for the first 2 years since the platform is launched.
There will be 2 use cases when using Tadpole Finance platform;
- Saving: You have A tokens, and then you save them in Tadpole’s platform to provide liquidity. After a certain period of time, you will get your A tokens back with an interest, and some TAD Tokens as an additional reward.
- Lending: You have A tokens and you would like to borrow B tokens. You lock your A tokens in Tadpole’s platform as the collateral asset, and borrow B tokens. After a certain period of time you have to return the B tokens (the same amount you borrowed plus interest), then you will get your A tokens back and some TAD Tokens as the reward.
- Platform Liquidity Mining Program
Platform Liquidity Mining Program is a reward program to motivate users to use saving and lending services Tadpole Finance. Both supplier and lender will get TAD Tokens rewards according to the portion of their savings/loans.
Rewards available: 500,000 TAD (50% of TAD’s total supply)
Program period: 2 years after platform’s release
- Listed Token
As the starters of the Tadpole Finance Platform, we will list 3 tokens for saving and lending activities: TAD, BNB, and USDT. After that, we can list more tokens, with these 2 mechanism:
- Developer’s choice
Before the platform is mature, the dev team will select tokens to the market every few weeks until the platform is ready to stand on their own feet.
- TAD Paid Listing
After the platform is stable enough, we will start to use a paid listing mechanism. Everyone can add any BEP20 token by paying some TAD Token as the listing fee. Let’s say the listing fee is 1000 TAD tokens, then the TAD token that you paid will be burned. Welcome to the next level of decentralized saving and lending platform!
More detailed information about Tadpole Finance Platform will be released soon. Thank you for your attention, and stay tuned for our latest updates!
2. TADPOLE FINANCE PROJECT REPORT
# Tadpole Migration Voting
Due to the increasing gas fee on Ethereum network, we initiated a community vote, to decide whether we should migrate Tadpole Finance to another blockchain network, or stay in Ethereum until the traffic is back to normal. However, during the vote, our community suggested another solution, which is to expand our blockchain network to a more-stable blockchain network, instead of moving it entirely. Therefore, we ended the Migration Voting and started the Expansion Voting.
# Tadpole Expansion Voting
As we mentioned earlier, this is a counter-proposal of Tadpole Migration Voting. This is a good idea since Ethereum promised a better service with the ETH 2.0 upgrade plan. So instead of migrating the whole ecosystem altogether to other chains, we can expand the TAD token using a bridge and clone the Tadpole Finance ecosystem to BSC or Tron network temporarily, while waiting for the Ethereum network to be more stable. By doing this, Tadpole Finance won’t lose momentum when ETH 2.0 is successfully implemented in the future.
Anyway, the Expansion vote has ended and the result is: we are expanding our chain to BSC!
Check the voting result here.
# Token distribution information in crypto information gateway
We have updated the information of TAD token distribution on Coinmarketcap.com and Coingecko. See the complete information of TAD distribution here.
3. COMMUNITY HIGHLIGHTS
Let’s read what they have to say about Tadpole!
Thank you to all Tadpolers for the support! Let’s look forward to better growth next month!
That’s all for March 2021. Keep in touch and stay updated!