This week we’re starting preparations for the move to mainnet – it’s moving fast from this point. You may have seen our tweets about our evolution of our avatar and logo, The Rider, but our changes are far more than cosmetic. Today we decided that our focus will be on the further development of the WingRiders platform and the reason for deploying a second testnet.
To understand the need for this second testnet, it’s important to understand our timeline in a little more detail.
When Plutus contracts entered the Cardano space, it took a few months to understand the implications of this and to determine if, from a technical point of view, a DEX on Cardano was not only feasible but also safe and stable. We started construction later than some of our competitors, our Proof of Concept (“POC”) was completed in September/October 2021. Back in November when our Minimum Viable Product (“MVP”) was shown to some pre-sale attendees in the early time while still in stealth mode. The same Minimum Viable Product (“MVP”) was released on December 17th when we officially launched a project.
What do we mean when we say MVP? It is the core functionality of the WingRiders platform as AMM DEX – the ability to exchange only normal ADA to token pairs. We had not yet started to develop advanced features such as:
- Staking functionality
- farming functionality
- Usability via other wallets
From a pure “infrastructure on Cardano” approach, it was exciting for early pre-sale participants as we could embed this DEX functionality directly into a third-party wallet (Nu.Fi) from the MVP phase. It was a complete, seamless integration with a new product where, from a user perspective, you don’t see any difference when you switch from one product to another. This type of functionality has simply not been attempted by any of our competitors.
So – TLDR – When we launched our platform on the testnet (let’s call it WingRiders Integration Testnet V1.0), it was directly integrated into the Nu.Fi staking wallet. As such, much of the UX/UI that users saw was directly that of the Nu.Fi platform. As Nu.Fi is a staking platform already on Mainet with a roadmap to cover 11 different blockchains, this gives you an idea of our potential future development plans.
Since the end of December, our development team has been working hard to improve security and expand functionality. We have significantly improved the platform. To properly demonstrate these new changes, we decided to demonstrate these improvements to the community via a second testnet release.
If you previously logged into the WingRiders testnet, the first screen you would see was a NuFi screen where you then set up a test wallet to connect to the DEX.
On our new, direct WingRiders Platform Testnet V1.1, the first screens you will interact with will be the UX of the WingRiders Platform itself.
There are a few reasons for this:
- The previous testnet (WR Integration Testnet V1.0) was a direct integration to a wallet (Nu.Fi), while the new testnet (WR Platform Testnet V1.1) is the direct WingRiders platform that can connect to multiple wallets .
- The new testnet now supports not only Nu.Fi, but also CC Wallet, Nami, Flint, Gero Wallet.
- The new testnet has additional functionality – more on that below.
Our new extended DEX testnet offers a number of functional improvements compared to the early version (Integration Testnet V1.0). We will spend some time outlining these functions one by one below.
The WingRiders platform now supports not only ADA-to-token swaps, but also token-to-token swaps (e.g. swapping liquidity pools directly between Cardano-native tokens without having to switch to ADA and go back). This allows for greater flexibility and better exchange rates for users as they can now complete swaps without having to navigate through Cardano.
Our second new feature is actually a first – we are the only Cardano DEX platform that offers staking on these Cardano in liquidity pools – e.g. By holding your ADA in a Liquidity Pool (“LP”), you don’t miss out on your average earnings of around 4.5%/year that you normally earn from staking your ADA. A feature to vote on where the ADA is staked is in development and will be released shortly.
In terms of farming, your LP tokens held on the platform entitle you to a future yield of WingRiders Governance tokens and potentially other forms of rewards. This functionality is built, but since we haven’t minted our governance tokens yet, it won’t be activated yet. Farming will be activated later in the test network.
Also – another first, the WingRiders platform will be the first DEX on Cardano to directly support hardware wallets! Our development team, backed by Vacuumlabs, has resulted in us being the most experienced wallet integration team in the Cardano space. Both Ledger and Trezor are now integrated. The new Ledger update planned in the coming weeks will enable their use on our platform. For Trezor, the new update cycle will take place in May, so WingRiders can use it from this next update cycle.
Last but not least, we are one of the few DEX on Cardano to support the Flint wallet, which in combination with Milkomeda and MetaMask gives access to the sidechain functionality. We will consider future sidechain and other integrations as they become available.
While all of these features and more are in the works, we’ll be releasing support for them in phases. In the first phase, we want to collect feedback on the interaction flow when creating swaps, including providing liquidity, receiving feedback on events through notifications, and discovering our transaction history. In the next phases we will introduce staking, farming, more wallet support, more data aggregation including unrealized gains and losses for liquidity providers, governance interactions to name a few.
To recap, since we’ve been on the testnet since December, the WR community has had the opportunity to test our deep integration with the Nu.Fi wallet for a while. We call this Wingriders Integration Testnet V1.0. We’d like to thank Nu.Fi for their support with the deep integration, and also everyone who participated for their feedback! Now that we start moving to mainnet, we would like you to test us with other wallets and check out the full UX and UI of the WingRiders platforms and our contract optimization. This is referred to as WingRiders Platform Testnet V1.1. We will also soon be upgrading the WingRiders Integration Testnet from V1.0 to V1.1 – once we have done this, all test tokens from WingRiders Integration will be V1.0. will be blocked.
Up until mainnet launch, the two obstacles we waited to complete before launch were our audit by CertiK, which is complete – you can read about that here. We are now in the final test, which is also largely complete. We have no significant code changes based on testing and have had excellent feedback. We will tell more about it in the coming days…….
Join our community:
Twitter: https://twitter.com/wingriderscom
Discord: http://discord.gg/wingriders
Telegram: https://t.me/WingRidersOfficial
WingRiders team
https://platform.twitter.com/widgets.js
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.