Spectrum Finance Updates: SPF Token, Yield Farming and Spectrum Network Development

3 min readNov 16, 2022

Hello!

Last week we launched our Cardano public testnet. We consider this launch a big success. All core functionality works correctly, and any outstanding bugs and errors are being fixed as we speak. As soon as we make sure that all processes inside the testnet are 100% debugged, we can launch on mainnet.

We have made good progress in the development of Yield Farming and the SPF token. Our team has decided to focus on SPF and its early release. We are happy to announce that we will launch both in December 2022! We’ll share more information in the coming weeks.

🌐 Spectrum Network

We are currently doing research on the protocol consensus and as soon as we complete it, we will share a technical paper on how Spectrum Network will work and how the SPF token will be integrated into it;
Protocol negotiation flow fixed and tested;
Known peers exchange implemented (https://github.com/spectrum-finance/spectrum/pull/6);
Different punishment mechanics of misbehaving peers (https://github.com/spectrum-finance/spectrum/pull/8;https://github.com/spectrum-finance/spectrum/pull/9; https://github.com/spectrum-finance/spectrum/pull/10).

🔁 Spectrum Finance

💎 Core

Improving stability and fault tolerance api.spectrum.fi domain (WIP).

🪙 SPF Token

API v2 airdrop and payout faucet (WIP). We will no longer publish the airdrop calculator. Instead, we will launch a service with which it will be possible to view the reward and request it directly from the interface after the token launch;
Liquidity Bootstrap Auction Initially, we planned to launch the token through an LBA (Liquidity Bootstrap Auction) mechanism. Our team did the research, prepared an interface design and smart contracts, but later realised that if we were to go down this path (launching a token through the LBA on Ergo), then we would have to further delay the release of our SPF token.

We know you all have been waiting for the token, so we decided to take a different path. Next week we will start talking about our launch strategy.

🌱 Yield Farming

Contracts, frontend and design are ready;
Finalising SDK. Start testing in early December and release at the end of 2022.

Write in the comments if you want to see the layout of Yield Farming UI.

🛠 Backend and 🎨 Frontend

Removed Global Settings modal;
Light theme tooltip fixes.

🐞 Bugs fixed

Fixed Cardano add liquidity page loading;
Fixed Cardano remove liquidity page loading;
Fixed Cardano insufficient funds validations.

The community often asks us about Rosen bridge integration. Once we receive the SDK we can start investigating the integration.

As always, see you here next week! In the meantime, check out our Socials and subscribe if you haven’t already. That is where you will get all our most recent news!

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