Last month was a tremendously productive period of time for the Sigmadex team. As focus remains on assembling essential infrastructure for a successful TGE we are simultaneously aligning other portions of the platform while developing the foundation internally.
The native Sigmadex token (SDEX) is at the forefront of the protocol's economic loop and plays a critical role with all smart contract interaction. Careful development of these assets is being taken in order to support on-going advancement with minimal hard forks. By enabling such architecture, the opening up of potential security vulnerabilities becomes much higher which even further reinforces our methodical and meticulous approach of software development. Being able to forecast the future and plan for a modular structure is no easy task and must be handled with care.
Progress Made
Things are only getting busier as we enter the final sprint towards our TGE. Within a short time frame our team has not only grown but made tremendous progress in all important areas of development and will continue to do so.
This month's progress includes evolution in a number of key areas mentioned below.
TGE
As we move closer to minting our Sigmadex token the scheduled TGE continues to be our highest priority. The team at Sigmadex understands that we have one chance to launch and we are focused on carefully establishing the most suitable path to take. By taking strategic steps along the way we will confidently generate a launch that will create considerable buzz and produce the most impact. Our team is capitalizing on the momentum from our successes in May and expanding exponentially; the future is bright for Sigmadex.
Decentralized bridging architecture ETH/BSC/DOT etc.
Our development team has dedicated extensive research into properly decentralizing a bridge using game theory elements. This ongoing project which we are hoping to eventually contribute to the the DeFi space as a whole, will be open source in hopes of attracting inspiring new ideas and advancement. Through novel honor box architecture we hope to create a powerful and useful bridge for crossing networks.
Preparation for initial protocol parameter voting
The governing component of the Sigmadex protocol is the democratic engine. As the protocol evolves in tandem with the consensus of the users this will drive Sigmadex into the future. We strongly believe that encouraging the community to have their say in the evolution of key components of the protocol such as vesting periods, interest rates, etc, will make a better system for everyone as we work towards complete decentralization. The strength of the community is what makes DeFi so compelling and is an undeniable power that we want the protocol to benefit from.
Discussions with numerous launchpads
Sigmadex is dedicated to having a successful TGE, which among many factors, requires the best possible launchpad. We are currently speaking with a number of top launchpads as we align ourselves for the best possible option. In this pursuit, we adopt the same careful and methodical strategy to obtain the ideal outcome for our contributors, community, and foundation.
NFT conceptualization
The introduction of NFTs to the Sigmadex protocol was conceptualized last month in order to add an even more dynamic experience for liquidity providers on the platform. By allowing users to uniquely determine how they want to use their NFTs, either applying them to their own liquidity positions or by selling the NFT on the Sigmadex Asset Marketplace, users have the freedom to formulate strategies behind their liquidity investments to achieve their desired outcome.
Liquidity partnerships
To establish a healthy level of TVL (total value locked) on Sigmadex for the initial launch, we have been working with our backers and are in contact with various players in the space in order to acquire and provide initial liquidity prior to launch. These relationships continue to develop as we move closer to TGE.
Integration partnerships
We are exploring unique integration partnerships with other notable projects to expand our research, technology, network and audience reach. These collaborations share the same synergy as we do and will benefit both parties.
Team expansion
The Sigmadex team has also grown its staff with new additions to the development team, marketing team, as well as other areas of the foundation.
Community Support
We would like to take the time to thank each and every Sigmadex supporter who has joined our community up until this point. The encouragement gives us the drive and determination to push harder than ever to continue to gain your respect and loyalty but also to make Sigmadex a leader in DeFi well into the future.
