Introduction
Ooki has been diligently progressing on multiple fronts, enhancing the ecosystem's robustness and functionality. This update outlines recent accomplishments and provides insight into the future trajectory, highlighting the development of Permissionless Listings, Limit Orders, and icrvUSD, among other initiatives.
Recent Developments
While there are numerous ongoing projects, such as preparations for Permissionless Listings (PL), Limit Orders (LO), and icrvUSD enhancements, this segment focuses on the milestones that Ooki has recently completed.
- UniswapV3 Integration: Ooki addressed issues arising from Uniswap library upgrades, ensuring seamless integration.
- Lending Platform Improvements: Bugs in the lending system were identified and rectified.
- Enhanced 'Best Rates' Widget: The widget now displays rates across all blockchains, offering comprehensive data for users.
- Protocol Adjustments: $MIM and $BUSD were removed from Ooki's protocol due to their discontinuation.
- OOKI Token Utility Expansion: Ooki is exploring features to reward $OOKI token holders, including potential discounts.
- New Subgraph for Permissionless Listings: A subgraph has been designed and deployed on Polygon to autopopulate pairs, with plans to expand across other chains post-UI reflection.
- Decentralization Efforts: Ooki is transitioning stats and TVL charts to Graph, moving away from API dependence, reinforcing its commitment to decentralization.
- icrvUSD Token Launch: The icrvUSD token was successfully deployed through governance, marking a significant milestone.
- Permissionless Listings User Interface Development: Ooki is actively enhancing the user interface for Permissionless Listings. Work is in progress, with preliminary results set to be showcased through forthcoming screenshots, demonstrating the intuitive and efficient design approach that Ooki is known for. This step is crucial in ensuring that the functionality not only meets technical expectations but also delivers a seamless and user-friendly experience.
The Road Ahead
As Ooki navigates through the intricate landscape of DeFi, significant strides have been made in developing key features. These features, while already benefitting from considerable progress, still have intricate paths to completion due to their complex nature. The journey ahead for Permissionless Listings (PL), Limit Orders (LO), and icrvUSD is marked by detailed planning and targeted milestones, ensuring that these innovative functionalities meet the high standards set by Ooki in the DeFi ecosystem.
Permissionless Listings (PL)
Ooki's focus on enhancing trading functionality includes the ambitious development of PL. This initiative encompasses the integration of the 'permit2' function for iTokens and other tokens, streamlining collateral management.
Further advancements involve the creation of a Double Proxy Mechanism for iTokens and the establishment of a Loan Token Factory, both pivotal in diversifying trading options. The Staking Vault's development, inclusive of its logic, liquidation strategies, and user interface, marks another cornerstone in this endeavor.
Limit Orders (LO)
LO is geared towards offering refined order management to users. This development phase involves a thorough re-review and retesting of existing contracts to ensure robustness and reliability.
The LO will be complemented by a bespoke user interface, designed to cater to the specific needs of limit order functionalities, thereby enhancing user interaction and trading efficiency.
icrvUSD
Ooki is rapidly advancing towards the full-scale deployment of icrvUSD. Following this, the introduction of custom swaps on Curve will enable icrvUSD margin trading, broadening the scope of stablecoin trading strategies.
The implementation of 15x stable to stable trading for icrvUSD is also on the immediate horizon, set to offer enhanced leverage options to traders. These developments are pivotal in reinforcing Ooki's position in the DeFi space, providing users with more versatile and powerful trading tools.
Conclusion
Ooki continues to stride forward, embracing innovation and decentralization. The upcoming features are poised to elevate the platform's capabilities, underlining Ooki's commitment to providing a comprehensive and user-centric DeFi experience.
Stay tuned for more updates as Ooki shapes the future of DeFi.
About Ooki
Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.
