Overview
Welcome to the fifth instalment of the GYSR monthly newsletter! We use this publication to keep the GYSR community and wider crypto-ecosystem up-to-date with GYSR-related news. If you would like more information or are interested in getting involved, please follow our official Twitter account, join our Discord, and take a look at our website.
Summary
State of the Geysers
Total Value Locked
Polaris Fork
Development Update
Voyage to V2
State of the Geysers
This month 5 new Geysers were created. We saw SpaceChain launch a 1-year liquidity mining program. BasenjiDAO, which is an artist collective, launched a 2-year liquidity mining program. NFTI which is an NFT index project also launched two Geysers to distribute their GNFT governance token.
Total Value Locked
We are excited to share that both Uniswap liquidity and TVL in our platform have been steadily rising over the past few months. Uniswap liquidity in the GYSR-ETH pair is currently at ~$3.6 million. And the TVL across all live Geysers is currently sitting at more than $40 million. See below for two graphics:
Uniswap Liquidity:
GYSR Platform TVL:
Polaris Fork
A few weeks back we saw the first fork of, not only our code base, but our docs as well. The project is called Polaris Defi and it’s live on Binance Smart Chain. While we have nothing to do with this, our whole team saw it as a positive development. It shows what we’re building solves a real problem for developers.
Development Update
We’re excited to report that this was one of our most productive months so far. Alex has been heads down working on our new product called Fountains, which will be a friendly/non-competitive version of Geysers. Fountains will include a new $GYSR mechanic that will give the token even greater utility. Keep an eye out for more information as we will explain this in depth soon.
Devin has been grinding away on our new, modular factory contract system, which we briefly mentioned in our last newsletter. This has now been completed, which is a major milestone. Devin has also spent a significant amount of time building out GYSR’s testing suite that accompanies our core contracts. Look out for a sneak preview of this test suite in action soon as well.
Iain has been working on finishing up the new UI. This work has largely been centered around individual Geyser mechanics like global and individual statistics for specific Geysers, new staking/unstaking components, and a global feed for staking activity. He has also been working to make information around the rewards and funding schedules of different Geysers more accessible, and he has spent time improving the scalability of the “discover” page as well.
Voyage to V2:
With all this work coming together, we’re sending off our code to be audited soon and are planning to launch our v2 by mid May. Between today and that launch date we’ll be releasing weekly posts that explore different aspects of what we have built and what we hope it will get used for. We’re excited to share all this hard work with our community, so look out for the first post on this soon.
-the GYSR team
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