The protocol released their future plans to help quell recent concerns that the platform is planning to rug their user base.
Rabbit Hops Along
Rabbit Finance’s product development and operation progress from May 24 to July 24, 2021 are as follows:
We have supported 33 mainstream leveraged token pairs on MDEX and Pancake. 15 new vaults have been added.
English and Chinese bilingual interface and bilingual documents uploaded
Added scan QR code login function
Optimized the Boardroom 3 times
Release of CARROT the elastic stablecoin
Launched the Garden
Liquidity farming on 3 exchanges.
Optimized the profit display accuracy on the opening and closing positions.
Completed the contract security audit with CertiK and Chains Guard
Launched the Gemini Liquidation System
Upgraded the oracle for open position price verification
Listed on 2 major CEXs: Hotbit and LBANK
Reached in-depth cooperation with mdex and pancake to open a double leveraged farm.
The Plan is Working
Within two months our product experience has provided a very competitive experience, and the team’s development capabilities and industry awareness have been recognized by community users. According to the suggestions of the community, Rabbit Finance launched a comprehensive upgrade of the Boardroom and launched a Decentralized Autonomous Organization (DAO) governance plan. Taking this as an opportunity, we will announce our plans for future product development to all of our users.
1. The Boardroom will be fully upgraded: Carrot swap to veCarrot and Rabbit locked swap to veRabbit.
2. Upgrade the stake mining contract of the Garden, stake veCARROT to farm in the Garden pool with time weight.
3. New leveraged trading function: allows users to borrow from the bank at a very low interest to long or short a token with a 3–5x leverage.
4. New NFT synthesis function: Users can use Carrot blind box to open Non-Fungible Tokens (NFTs). These can be used to obtain NFT synthesis, stake, transact, and game farming.
5. Carry out cross-chain deployment: The initially selected cross-chain deployments are ETH and Matic.
6. Audit by a third audit agency.
7, At least 2 Centralized Exchanges (CEXes) listed
8. Publish a SDK: Improve the composability of other protocols, funds, and institutions to integrate our products
9. Integrate with more Decentralized Exchanges (DEXes) to increase token exposure.
10. Add multi-signature to the upgradable proxy contract
Margin Trading Function
1. Add Rabbit LAB function, support the teams that develop applications around Rabbit finance, and continue to increase the application scenarios of Rabbit, CARROT, veCARROT, such as options, innovative exchanges, auction platforms, etc. are the focus of our funding.
2. Enhance the borrowing capacity of the agreement; allow external parties to borrow from our deposit vault.
3. More pools from partner DEXes.
4. A mysterious product will be launched, it will be a surprise.
5. Fourth security audit from a well known audit institution.
6. At least two more CEX listing
Launch of Rabbit Lab
The roadmap may change, but please rest assured that we are working tirelessly to develop Rabbit Finance into a premier on-chain leverage protocol on Binance Smart Chain.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.