This is the biweekly project progress report of Aspida. This series of articles will cover the progress situations of Aspida in product development, business partnerships, social media activities, and community conditions. Other sections will be published in the future.
Product Development
This section will outline the development progress of each functional module of the Aspida. Aspida is a native liquid staking network which provides security, liquidity and optimized native rewards. It features easy accessibility, allowing users across different layers/networks to earn staking ETH yield.
Reserve Module
Aspida protocol will autonomously establish dETH and stETH LP pairs to expand minting pathways for bootstrapping liquidity while also increasing underlying asset diversity.
In Aspida’s initial design:
The dETH controller contract will autonomously allocate a portion of ETH (with a capped amount) to mint stETH( currently max 3000 stETH minted) at a set ratio after users submit their ETH.
In the meanwhile, the dETH controller contract will autonomously mint a corresponding amount of dETH to pair with the stETH in Curve pools, thus increasing bidirectional liquidity between dETH and stETH.
Node Operators Module
The Node Operators Module is used to complete the selection, registration, and deployment of NOPS and the DVT network.
In Aspida’s initial design, the responsibilities of the Node Operators Module include:
- Selecting suitable node vendors (will be done by the DAO after launch), node operators need to claim their rewards;
- Establishing a node rating system (dashboard and rating functions are in development);
- Completing registration of node vendor public keys;
- Establishing node exit procedures, such as exit queues, exit command listening, NOPS responses, etc.
Other Modules
Other functional modules are under development. The development progresses will be revealed one by one in subsequent biweekly reports.
Business Partnerships
This section will outline the partnerships that Aspida is attempting to establish/has already established. We have been making our best efforts to expand Aspida’s influence in LSDFi, and increase users’ yields.
Code Audit
In order to ensure maximum user security after the Aspida Mainnet is officially launched, our protocol is currently conducting code audit communication with multiple organizations.The resulting audit reports will be made publicly available in a timely manner as well.
Social Media Activities
This section will outline/preview the activities that Aspida is conducting or about to launch. The forms of activity incentives are diverse, with NFTs and integrations being the main forms of incentives for Aspida’s current stage.
Testnet Launch Activity
Aspida Testnet Campaign will soon be launched;
This activity will be a long term campaign and always valid. All types of community engagements will be recognized and rewarded to varying degrees, and the rewards will be distributed while the corresponding activities commence.
Community Engagements include:
- Interacting Within the Community
- Collecting Community Insights & Feedbacks
- Structuring the Ambassador Initiative
- Enhancing Community Guidebooks
- Engaging in Community AMA Dialogues
- Developing a Robust FAQ
- Authoring Compelling Articles
- Exploring Popular Memes
- Producing Creative Videos
- Optimizing Dune Dashboard
More details can be checked in the article below, please stay tuned!
Community Conditions
This section will outline Aspida’s community activities such as key community calls and handpicked community FAQs. We encourage users to actively participate in community building and provide valuable suggestions for Aspida’s development.
Handpicked Community FAQs
Can Aspida be regarded as a staking solution?
Yes. Aspida is a decentralized staking solution that implements asset staking on multiple public chains, which simplifies the staking process and allows users to profit in a safe and non-custodial manner.
How does Aspida work?
Users can stake their ETH or stETH through the Aspida protocol to receive dETH tokens. dETH is a wrapped ETH token which minted with ETH 1:1. It should be noted that dETH is just a wrapped ETH token and does not carry staking yield. If users want to capture Ethereum’s staking yield, they need to stake their dETH unto sdETH. sdETH token is minted by staking dETH into staking contract; sdETH is a yield token representing accruing staked ETH yield.
Conclusion
Although Aspida is a newly established LSD project, our team is making every effort to build it. We welcome users to join our community and provide valuable suggestions for Aspida development. We will regularly disclose project details, maximize the transparency, and share the joy of milestones with contributors. Thanks for supporting us.
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