Overview
Welcome to the fourth instalment of the GYSR monthly newsletter! This publication is used to help our community and the wider crypto-universe keep up with all things GYSR. If you would like more information about us or are interested in getting involved, please follow our official Twitter account, join our Discord, and take a look at our website.
Summary
Fast Facts
State of the Geysers
Argent Integration
GYSR Navy
Development Update
Fast Facts:
We have had our heads down building over the past month, but our social media presence has had some organic growth over the same time period. We’re now up to ~2500 followers on Twitter, ~1100 on Telegram, and ~800 members on Discord. We were also excited to see GYSR get some mainstream press coverage in Yahoo Finance a couple weeks back, which you can read here.
State of the Geysers:
This month 7 new Geysers were deployed, bringing our total up to a nice 75 on the v1 contracts. Three great projects - Vesper Finance, CrescoFin, and CryptoTask - were among that group and more information on each is available here, here, and here. A different way to look at the traction GYSR has been getting is to consider total value locked (TVL) vs. number of Geysers deployed. See below for a relevant graphic on GYSR TVL over the past few months. It is sitting at above 30 million USD equivalent at the time of writing.
Argent Integration:
After a long application process we were excited to see $GYSR get added to the in-app exchange on Argent Wallet. See below for a picture. We have some great company!
GYSR Navy:
We introduced a new role in our Discord called the GYSR Navy. Everyone who participates in our contributor program gets added, and we have a private chat for the crew of people who are close to the project. This month we had a successful Geyser referral at the highest tier (i.e. $50,000+ in value locked) and several social media supporters, so the Navy already has it’s first eight members. Look out for a design contest coming up sometime soon since we’re looking for a formal logo to represent this.
Development Update:
Web Application:
Iain has set up end-to-end testing for the web application to reduce the risk of bugs. In addition, improvements have been made for wallet integration and notifications in order to work better on mobile. More work has been completed around Geyser management including the main dashboard and the interface for Geyser creation and funding.
GYSR Modular Architecture:
One of the major enhancements coming in the next release of GYSR is the move to a modular Geyser architecture. This update will improve efficiency and allow the core contracts to be highly extensible for V2 and beyond. More technical details will be released in an upcoming whitepaper.
In February, the team spent weeks iterating on the design, architecture, and class structure for this upgrade. Over the past month, Devin has been heads down on the actual implementation of these changes and that refactor is now complete.
Fountains - A Non-Competitive Rewards Module:
Perhaps the most anticipated feature of GYSR V2 is the “Fountain,” a new flavor of Geyser, which offers non-competitive (or “friendly”) yield farming. Alex has been heads down writing the underlying ERC20 reward module for these friendly fountains, which actually implements the desired mechanics. And this contract is coming along really nicely: it should be completed (including rigorous testing) within a few weeks.
Testing and Audit Preparation:
The primary focus of the upcoming month is hardening, testing, and audit preparation. This spans across all layers of the GYSR system: core contracts, auxiliary contracts, subgraph, and webapp. Our team’s continued focus on quality and extensive testing will be crucial to ensure smooth transitions into our audit and deployment phases. We realize this approach means it has taken us a bit longer to deploy our next phase of GYSR, but we’re confident that being conscientious in this way will pay dividends down the line.
As always, before signing off we would like to say thank you to our community. We’re excited that our V2 will be out in the wild at some point this spring and we’re appreciative of everyone who has stuck with us during the past several months of building.
-the GYSR team
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