NAMI Protocol – Weekly Development Update #3

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Greetings, NAMI community! We’re back with another exciting weekly update. Let’s dive right into the highlights of our progress and what’s on the horizon.

Administrative Updates

  • CoinGecko Listing: We have fantastic news! $NAMI is now officially listed on CoinGecko. This milestone ensures better visibility and transparency for our users. We have applied to fix the market cap too.
  • NAMI price on SONAR: If you use the Sonar app, make sure to apply the latest over-the-air update. After updating, you’ll be able to see your Nami balance with the correct price, thanks to our CoinGecko integration.
  • CoinMarketCap Status: No update here unfortunately.

Development Progress

  • Performance Fee & Redemption Rate: Good news on the smart contract front! The performance fee and the redemption rate code for our receipt token is written.
  • Automated Testing: Next week, the focus shifts to automated testing. This crucial step involves writing software to test our software, ensuring everything works seamlessly. This process is vital, especially for our DeFi operations, where precision is paramount.
  • Transaction History Challenge: On the front end front we worked on displaying transaction histories and making them exportable. We encountered some challenges with the node services, which resulted in inconsistent data retrieval. Moving forward, we’ll set up our own indexing service to maintain a reliable transaction history.

Cost of Swapping Stablecoins

A great question from our Discord community prompted a discussion about the cost and impact of swapping between the stablecoins. We are well aware this is one of the key points to outperform the interest rate market. Beside using limit orders to save on fees, our alogrithm also judges if a swap is worth it or not before taking it. The exact parameters can only be set, once we can “test” with our own funds in mainnet.

Closing Thoughts

This week was packed with progress and learning, albeit with a few hurdles. As always, we’re committed to refining and enhancing the NAMI Protocol. Stay tuned for more updates, and feel free to reach out with any questions or suggestions.

Thank you for your continued support, and until next week!

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