Hello Ballast Armada, Month one of Ballast was, to be completely honest, a mixed success. We made progress on the product, started to explore partners to help with the cross-chain nature of the dApp, made public the roadmap, and built a fantastic early community that is engaged and willing to help. So a big cheers to you all.

However, BLST is meant to create base liquidity for the platform that the team could capitalize from to fund operations while giving the community something of value in a membership.

We were running on the assumption that the project would quickly list on CMC and CG. Unfortunately, as we know, this didn’t happen, and while we are working with CMC, CG said they would not list it for the time being. See message from CG.

Don’t contact them. Working different angles.

I can honestly say that I’m completely surprised since the 1000th dog coin with zero utility seems to have no problem getting listed. But, alas, we forge on.

That’s it with the bad, and now onto the platform.

Platform — Continuous Deployment and MVP.

We decided to release and deploy the platform in a continuous model. When a new feature is ready, it gets sent to the test net, passes QA, and deployed to mainnet.

Again, this could be something small or could be something big. But fundamentally, this means quicker build times and progress that the community can see, but it carries more smart contract risk since it kicks the security audit further down the line.

Tangibly — this means that we will be releasing to mainnet with what we have developed so far. Reading the contracts, it’s two strategies, Compound and Aave, and three stable coins for initial deposits. Not world-shattering but a foundational element that we need to build regardless.

To release, we need to update the UX.UI and test that everything is working as intended on test net. Here are some Balsamiq wires that I will build out starting next week. There are still product questions, I want to share flows with everyone to get your feedback and see how to make this better / easier for everyone to use.

Ballast DAO

The DAO is going official and will be registered as a legal entity in March 2022. So the same 1000 $BLST you may already have in your wallet will be required to be a full member of the DAO.

As a DAO member, you will be entitled to proceeds from our operations. Token allocation will follow the same distribution as in the Whitepaper.

  • 1000+ staked BLST provides voting rights.
  • Staking rights follow the same model as in the Whitepaper.
  • Staking will give you access to redistribution of funds not allocated to development from liquidity pool fees — should the DAO vote to distribute them.
  • Vote to increase price floor by diverting distributions to liquidity.
  • Access to the DAO Synidcate.io pool.

Next week, I will post articles for the DAO. We will need Dev support for this, and I will ping the folks who have volunteered to help. r

Lastly, a focus on community growth is also going to start on Monday 2/28. This constitutes daily outreach, a YouTube content strategy, and educational content that we hope will help our community become more capable navigating DeFi — Watch the growth channel in Disord.

Join the project at:

Website — https://ballast.finance
Discord — https://discord.gg/TtWMhRRqzR
Telegram — https://t.me/ballastfi