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ICX · 1w

Balanced Q3 Update: Smart contracts now available on the ICON testnet!

We’re excited to share our progress for Q3 2020. Our goals included proof of concepts for sICX, ICD, and our decentralized exchange on the testnet, however, we decided to pivot away from an order book DEX (more details coming soon!) so we spent more time on the other smart contracts while designing the different DEX architecture.

Proof of Concept

The proof of concept includes 4 smart contracts deployed on the ICON testnet:

While there is no user interface, this proof of concept allows developers to test out the process of depositing ICX into the staking management contract to receive sICX, and deposit the sICX into the loans contract to be used as collateral to borrow ICD.

The contracts listed above are not in their final state, but allow developers to see the basic operations of these contracts and act as building blocks for the rest of development. You can see the contract code on GitHub.

Q4 Goals

Going forward, we’ll be diving head first into the finer nuances of the loans and DEX contracts, such as the mechanisms to track and reward users with Balance Tokens. By the end of Q4 2020, we expect to have all contracts deployed on the testnet and going through a smart contract audit. We’ll also create the new website and marketing campaign in preparation for the launch.

The community around Balanced has been growing and we’ve seen some great conversations in our chat room. We look forward to seeing the Balanced DAO take shape closer to launch. If you have any questions, ideas, or just want to discuss DeFi in general, join the discussion on Telegram and participate in our DAO!

Go to balanceddao.medium.com
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