On December 1, FinNexus released an article titled"An Update of 'A Comparison of Decentralized Options Platforms'", featuring new information following the overview of our platform by CoinMonks.
On December 3, FinNexus announced it is collaborating with partners at DfiMoney YFII in a multi-faceted long-term partnership that will expand the use of FNX across crypto strategies and vaults.
On December 8, FinNexus announced that the WAN liquidity mining incentives for the FinNexus Protocol for Options (FPO) on Wanchain_org would cease at 2:00 pm (UTC). FNX incentives remain.
On December 10, we launched the FinNexus Global Ambassadors Program. The initiative aims to get both people with and without a technical background together and formally recognize FinNexus fans who have stepped up and shown leadership within their own local communities. Ambassadors can meet core team members and get industry experience.
On December 16, we published"Hedging Against Impermanent Loss: A Deep Dive With FinNexus Options" on CoinMarketCap. In the article, our resident financial analyst and co-founderRyan Tian outlined his proposal for largely eliminating the risk of impermanent loss.
The latter is a serious yet common problem for liquidity providers in AMM pools. It materializes when the price of assets changes compared to when they were first deposited in the pool.
On December 19, FinNexus released the full audit results from the security experts with PeckShield, reminding users that we see transparency and security as vital building blocks for any successful DeFi project.
On December 21, our financial expert Ryan Tian took a deep dive into liquidity pools, looking at what makes them so revolutionary for Uniswap, for our own FPO, and for the DeFi industry at large in his second article on CoinMarketCap's crypto education platform.
Lending pools are decentralized liquidity pools designed to boost the borrowing and lending market. Unlike the peer-to-peer lending model where borrowers obtain loans directly from the lenders, lending pools act as the counterparty directly and interest rates are automatically set by algorithms. Projects such as Compound and Aave are some of the best-known lending pools.
On December 24, FinNexus scheduled a vote on a proposal to add a 5% transaction fee for options buying and exercising to be collected in a community-controlled pool.
On December 25, we sent the last call for Wildnet bounty applications, which stopped being accepted the following day.
On December 26, FinNexus revealed that in just over 12 hours on Christmas 2020, it had managed to attract over $45k in TVL to its $SUSHI-incentivized $FNX / $ETH pair on SushiSwap.
Throughout December 2020, FinNexus was positively ranked by various third-party institutions, showing the company's growing strength within the DeFi sector:
1. On December 4, FinNexus was included on the cross-chain DeFi league table edited by Defi Llama, accurately showing FinNexus TVL on both Wanchain and Ethereum.
2. According to EncryptClub, FinNexus is now the fourth-largest DeFi options platform by market cap.
3. FinNexus ranked 6th among the top 15 coins listed by Galaxy Score, a proprietary score table that measures crypto assets using community metrics pulled in from across the web.
4. The FinNexus community governance forum and voting system are completed. FinNexus community users are welcome to publish proposals, participate in governance discussion and vote:
To publish proposals please visit our forum.
To publicize proposals and votes, visit our Ethereum Snapshot or Wanchain Snapshot.
5. The latest version of our mining contract has entered the testing stage.
6. DefiLlama protocol integration completed.
7. Zeriontech DEFi-SDK protocol integration completed.
8. FinNexus reaches an agreement to cooperate with Huobin's public chain Heco.
On December 3, FinNexus began allowing users to swap their WRC20 FNX onWanswap for wanUSDT, wanEOS, wanBTC and wanETH. In addition, miners are welcome to deposit liquidity into the WAN/FNX pool and earn WASP, the protocol token for Wanchain's own Uniswap fork.
On December 23, FinNexus was listed on DeFi Prime as "a decentralized options protocol with a multi-asset single-pool model where option buyers can set their own option terms".
On December 27, the new ETH-FNX pair from Sushiswap's Onsen Menu was listed on CoinGecko.
On December 29, FinNexus announced its product has been fully tested by our engineering team and the Protocol Option v2's security audited by PeckShield.