V2 : Partnerships, Money Pot, and the future
First of all we again need to give an EVEN BIGGER THANK YOU to the entire Uranium community. You might get sick of hearing this but we literally could not have done this without you and we are immensly grateful for your continued support and helping us achieve all we have done so far. We are well aware that our V2 launch could have (and should have) been smoother, but we hope that you can understand the pressure we have been under and forgive us for the few issues some faced.
V2 launch review:
In V1, it took us 3 days to achieve a TVL of 40 Million before the exploit. In V2, at time of writing, we’ve achieved 74 Million TVL, in just over 24 hours from launch. — almost 2X V1’s. This is far above even our most optimistic predictions for the relaunch.
24 Million of that TVL is in our native farms and pool alone (U92-BNB, U92-BUSD farms and the U92 pool). And this TVL doesn’t even include the 6.6 Million in U235 currently held in investor wallets to receive dividends.
The 0% farms have been a great success, providing a way for those who want to provide liquidity and farm U92 without paying any deposit fee. They’re providing a further 10 Million in liquidity to make trading on Uranium more enticing for larger trades, but without eclipsing the 4% pools of the same pairs that are providing 21 Million in liquidity.
The V1 -> V2 claim process worked smoothly for most people, but there was still a large number that couldn’t claim their V2 tokens until some unforeseen issues were resolved. We fixed them as fast as we could as soon as we were alerted.
The biggest issue with V2 for which we are quite ashamed, was the early release of the farming rewards. Our devs have been working almost non-stop since the exploit so we do apologize for those that were waiting for the originally scheduled start date, but we also ask for some forgiveness given the pressure we have been under.
Partnerships & visibility:
As I’m sure you’re all aware, we made some huge noise with the V2 launch. 74 Million TVL in 24 hours and an ever increasing token value don’t go unnoticed in crypto-land.
On DappRadar we are currently ranked #6 under BSC, and number 7 under DeFi across all protocols, which is an amazing achievement, especially in such a short time.
Given all that noise, it’s no surprise that we’ve been contacted by some big players on the BSC in the last 24 hours. We are having multiple discussions and working out how the various partnerships could function. We can’t confirm anything yet but we are close to finalizing one big partnership, more details will come about this and others in the following days/week.
Partnerships with other big and small projects in BSC will be one of the many ways that Uranium will grow, and we have much greater incentives to partner with us over many other platforms so you can expect many more partnership announcements to come over the next weeks.
We are also in discussions with various BSC tool providers to make it easier for our investors to track their portfolios etc. We’re already integrated with Apeboard.Finance, Vfat.tools is being worked on currently, and more will come.
The Money Pot:
This is probably why most of you are reading this, and we don’t blame you, it’s pretty damn exciting for us too!
As we mentioned above, the success of V2 is far greater than we had anticipated, and therefore the Money Pot is also far bigger than we believed it could get to until wider adoption. We still can’t give exact numbers but in the interest of long term sustainability, we are making some adjustments to the way the first Money Pot will be distributed.
The first Money Pot in V2 will be capped at an amount that we believe is fair for all U235 holders both from V1 and our new holders in V2.
All the remaining funds will be kept on the FeeManager contract and will be used to top up future Money Pots if/when they are below a certain value. Meaning that if Uranium has some periods with low trading and deposit volume, the Money Pots will be topped up to still be of considerable value.
This is similar to the way we have arranged to use the recovered 1.2 Million in funds, so there will now be even more bonus funds to keep the future Money Pots paying out high dividends.
We understand there may be some push-back on this decision, but we have made it with our long term goal in mind, not just short term profit. We could have simply put all the funds into the Money Pot for one large initial dividend payout and then hope that Uranium can sustain large Money Pots forever, but as with any project we expect there will be highs and lows in volume, and by keeping some funds held back, we can make sure any low volume days will still provide large Money Pots for at least the near future.
The FeeManager and Bonus Money Pot contracts are both publicly visible, and we have absolutely no possibility to withdraw any user-destined funds from it, so you can be sure that it will all be paid out to U235 holders, just over a slightly longer timeline.
Again, we are doing this with long term sustainability in mind and we believe that most — if not all — of our investors will agree that this is the best decision for that goal.
What’s coming next week:
With V2 launched, we can now get back to adding the new features that we had originally planned, and some new ones that we’ve come up with since V1 and V2 have been live. We won’t go into specifics for now, but if you don’t mind some self-confidernce in our work, they’re pretty damn good.
Our initial RoadMap was a little light on details so we’ll also be working on putting together a more comprehensive one for the mid and long term future of Uranium. We have lots of exciting plans to sustain and grow our ecosystem and it’s time we shared them with the community :)
