The growth of numerous independent blockchain ecosystems with varying optimizations has resulted in an increasingly multi-chain world. Being able to seamlessly tap into the advantages of each of these blockchains and their unique assets within a single application would drive a massive wave of new cross-chain smart contract development—no different than the proliferation of DeFi and NFT economies.
In this recap we will be summarizing some of the developments behind the scenes at Sigmadex as well as laying out some thoughts around the future of the project.
To Our Community
As 2021 comes to a close we pause to reflect on the progress we've made, the innovations we've harnessed and the ongoing support from our contributors and community. Sigmadex is the product of our team's ambition and continues to evolve as we strive for a impactful launch.
We would not have been able to foresee the scale and trajectory Sigmadex has taken and we owe a great deal of our success to our community's support. We are energized and inspired by the feedback from our community and contributors and are eager to continue development in the new year. Our updates will continue to be published through our blog and our social media so be sure to follow us on all verticals for continued updates.
Layer 1 Changes
As the DeFi space has continued to evolve and mature over the last year we saw numerous new layer 1 protocols emerge, many with unique appeal and functionality that offer immense opportunity for the launch of our protocol. With this in mind our team began extensive research into these new layer 1 protocols, through which very compelling discoveries have emerged.
In light of these new discoveries, our team has finalized our choice for the most suitable layer 1 for Sigmadex and will coordinate an official announcement to coincide with our marketing timeline. We are excited to be sharing this news with out community and will be posting the official announcement in the near future.
A Year End Message from the Co-Founder
"We've been formulating our go to market strategy carefully and looking forward to the future as we start revealing our core assets to the community."
- Roland Haggins, Co-Founder Sigmadex
What to Expect
- Layer 1 transition announcement
Originally built and prototyped on Binance Smart Chain, our developers have been refactoring existing code from blocks to timestamp, this change will enable support for our new layer 1 architecture.
- Community staking incentives
We are in the process of determining the right incentive structure for optimizing staking and injecting initial liquidity for a successful genesis event.
- Parameter consensus event for SDEX
Certain variables have to be determined before TGE. To obtain fair values, we have decided to involve our community and will be launching our discussion forum next week to bring the association together to determine these values.
- SDEX catalyst event
Sigmadex will be launching an event to distribute SDEX to the masses in a unique way.
Update Frequency Changes
We are going to make a small adjustment to our Monthly Recaps. Following the best practices of other successful protocols, instead of continuing to recap on a monthly basis we will provide quarterly updates. We are looking forward to summarizing our development progress, financial updates, achievements and DAO opportunities.
We plan to be able to communicate more openly on development once the token generation event has occurred. We are working on ways to deliver this content regularly to the community that would make a monthly recap fairly redundant.
Our team has been collaborating with a number of well renowned marketing partners to coordinate our efforts in a timely fashion. The intention is to make the largest impact when it comes time to introduce Sigmadex to the world. We are focused on noteworthy, creative, and unconventional marketing tactics that will set up growth for the protocol over years to come. Our innovative and unique approach to gathering awareness for the Sigmadex brand is anticipating significant results as longevity and building brand equity is a core value behind the project as a whole.
Protocol development is on-going and more repositories on the Sigmadex GitHub will be publicized as we get closer to our launch. Our team is currently focused on finalizing the SDEX catalyst event and necessary staking mechanics. Ensuring there are adequate incentives for all SDEX holders, as well as establishing inherent value in the SDEX token for retail contributors is among our top priorities. With a low barrier to entry individuals of all sorts have the opportunity to reap the benefits of the Sigmadex protocol.
Our focus has also been paying off as we work our way through a small list of technical debt which will improve our on-going development speed. We have been preparing internal processes for our anticipated team expansion on the development front. We will be on-boarding a new group of hand-selected developers who will begin contributing in January to further our development of Sigmadex.
Our team is exploring new ways of using NFTs to further enhance the capability for users of Sigmadex. While exploring these uncharted territories we have to ensure we take appropriate measures for safety, integration and adoption.
Ensuring impenetrable legal aspects is the first step in building out these mechanics. We also need to make sure the correct marketing narrative is portrayed to the public. Materials are actively being revised, prepared and distributed according to our go to market timeline. NFTs are a core focus of our marketing efforts and initial release so ensuring these mechanics are developed properly and thoroughly tested will ensure they function as intended. This process will continue as we nail down approved and tested functionality.
It will be critical over the coming months to inspect every part of our governance process and its effectiveness. We are looking forward to clarifying and defining key aspects including strategic goals and establishing what to expect from the Sigmadex governance and structure.
As we progress there are still more decisions to be made, including the evaluation of the effectiveness of our current emission structure, formulation and deployment of new economic strategies, while also planning for the long-term success of our DAO.
We are ensuring sufficient initial liquidity incentives are put in place so that the protocol is immediately poised for long-term success and growth. These parameters will assist in also balancing the SDEX economy and ensuring order books are healthy from inception. Without this initiative the future of Sigmadex could be in jeopardy, we need to ensure that there is supportive liquidity upon launch. Many projects launched over the last few years have suffered from an oversight when providing initial liquidity. In learning from the misfortune of these projects we are poised to have a firm foundational layer of liquidity for the SDEX token.
Smart contract audits are necessary as they are a crucial point of vulnerability for hacks, this is something our team takes very seriously. Numerous audits are being conducted as necessary to ensure maximum security and trust for all SDEX holders. This crucial step in the roll out process cannot be understated and is an imperative criteria for our launch.
Sigmadex continues to evolve, grow and adapt as we welcome the new year. With the resources we have accumulated, our talented team and perplexing technology, it's our priority to continue our rapid growth into the future.
We are excited to have everyone involved in our journey as we expect to go much further together!