Our last update was done on Nov 10th of 2022! You can read that report here to see the progress we have made. We will make monthly updates more routine. You can expect at least 1 per month!
New Hire 👨💼:
We are happy to welcome one new team member to Vendor Finance!
Forrest (@BossMcBara on twitter) is a full stack engineer and will help with writing smart contracts for Vendor. Best of luck and we look forward to all of your contributions!
Note on Expired Pools/Soon to Expire⏰:
As a reminder, if you are a lender and your pool has expired, please be sure to collect your capital, interest and any defaults!
As a borrower, make sure to repay any loans that are soon to expire. Defaulting is always a choice, but if you wish to receive all of your collateral back, you must repay the total loan + all interest due!
Posted Guides on How to Lend/Borrow 📚:
Vendor Finance: Lending
A lenders guide to lending…plus some tips for pool setups!
Vendor Finance: Borrowing
A borrowers guide to borrowing…plus some strategies!
Newly Supported Tokens ✅:
The following tokens have been added which can be used as both collateral and lend tokens:
We are working on adding many more supported tokens, also recommendations by the community are being considered. Please feel free to recommend any tokens in our Discord (link found below).
Newly Supported Chains ⛓️:
We are working on deploying to Polygon and plan to have a few tokens listed. More info on this soon =)
And of course…we plan to be on many more chains!
UI/UX Updates 🖥️:
We have been working on a lot!
- RPC speed updates, the site loads much faster
- Mobile responsiveness is live
- Wallet balances auto update
- Working on Dark Mode
- New UI rebranding…coming soon
- Updated pool simulation graph styles for a cleaner look (see below)
- Added Umami to featured pools section (see below)
Use and Growth 📈:
Our TVL ballooned to a new ATH of $1.45M on Dec 24th 2022, what a wonderful early Christmas present! Shortly after we saw some decrease in TVL, but this was to be expected as pools were expiring at the end of the month which means repayments happen and collateral returned to the borrower!
As always a breakdown of assets deposited on Vendor can be seen on DeFiLlama as well!
Our best performing tokens continue to to be more illiquid ones/lower market cap tokens. We will be using stats for cmUMAMI again! See below…
- Umami Finance continues to be one of our most dominant partnerships! Umami is currently lending $100,000 in USDC against cmUMAMI tokens at an average of 40% APR! They have already made $3,000 in interest! We plan to continue to work closely with UMAMI! You can read more about this partnership here along with their monthly treasury update : https://blog.umami.finance/umami-finance-treasury-update-december-2022/
- We have entered into a partnership with Salus Labs . This partnership is to help us monitor the security of our smart contracts. You can read more about Salus Labs here: https://www.saluslabs.io/
- Marketing partnership with Tide Protocol is in the works! This will involve users completing certain tasks on Vendor Finance to receive a reward(s). You can learn more about Tide Protocol here: https://www.tideprotocol.xyz/
- Proposal for OlympusDAO to become a lender on Vendor has been posted on their forum. You can follow that here: https://forum.olympusdao.finance/d/1821-rfc-clearing-house-partnership-with-vendor-finance
We are always looking for partnerships and continue to talk to other DeFi protocols! Feel free to reach out to us or drop some referrals in our Discord/tag us on twitter!
- We plan on doing more AMAs in the near future; Arbitrum sponsored AMA (we are thinking sometime in February) and OlympusDAO AMA sometime in January/Feb (TBD)
- Tide Protocol marketing campaign through user tasks as mentioned above.
- We have created a twitter bot to announce newly created pools with $500 or more in funds deposited. This is posted to our public discord along with its own twitter account. You can follow this bot here: https://mobile.twitter.com/VendorAlerts
A video in Chinese was made by one of our Chinese community members! Huge shoutout to Coinversation! Follow them on twitter https://mobile.twitter.com/llamabee1. See the video below!
Some organic threads and tweets below!
That’s all for now! We look forward to the next update! You can read more about how the protocol will work in our documentation which you can find here: Docs. Please feel free to follow us on Twitter and join our Discord for any question and to receive more updates in the near future!