NAMI Protocol – Weekly Development Update #8


Welcome back, everyone! We’re excited to share this week’s updates directly from Greece 🇬🇷.

Team Updates

Alkis’ Recovery

Alkis is finally back home and recovering well after his hospital stay and a bout of COVID. It’s great to have him back and he’s working to get to 100% as soon as possible.

Development Highlights

Algorithm and Smart Contract Progress

Alkis has been working on fixing and optimizing the algorithm, including addressing a bug discovered a few weeks ago. Meanwhile, JP has been focusing on our smart contract.

Entropic Labs, led by Amit, conducted a thorough review of our contract. They provided valuable feedback on different topics, especially optimizing transaction costs and fixing a significant conversion bug related to the minting and redemption rates. JP is currently re-implementing tests, and we aim to resubmit the contract for a second round of security audits asap .

Administrative Tasks

We’ve also been busy with essential administrative tasks, including budgeting and accounting, as we prepare for the new quarter. This groundwork is crucial to ensure we can develop Nami as efficiently as possible.

Community Engagement

Athens Meetup

Tomorrow, we’re hosting a meetup in Athens near the Acropolis. We’re looking forward to engaging with our Greek community, discussing Nami, and exploring the vibrant crypto scene here. If you’re in Athens, join us at 7 PM for an evening of insightful discussions and networking. DM @jpkuji on Telegram for the venue details.

Upcoming Events

We’re also gearing up for our July meetup in Lisbon, where we plan to have more detailed discussions and interactive sessions about Nami and the broader crypto ecosystem. Stay tuned for more details as we finalize the plans.

Final Steps Before Mainnet

Our focus for the next week(s) is to complete the testing of our smart contract and finalize the algorithm optimizations. Once the security audit is done, we’ll proceed with the final steps to launch on the mainnet. We’re committed to ensuring everything is working as expected before we accept any funds and go live. We know this often feels longer and it’s difficult for us to anticipate exact timeframes. But it’s definitely better than anyone loosing money.

Best regards,

JP from NAMI

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