2021 Year in Review, NestQuest, Miami Hacker House and AMAs!
As 2021 wraps up for the GooseFX project, we must reflect on the year to appreciate how far we’ve come from project inception this past summer. We completed our initial seed raise and established a strong network of investors and advisors to bolster our product development. The GooseFX team has found a number of talented new-hires to fill out our ranks as we move into 2022 ready to execute on the complete GooseFX vision.
The NestQuest game has taken shape; that of an egg. The game was officially introduced to the community this month and Tier 1 NFT distribution started with a number of great giveaways. To be clear, this is not a full standalone game but more of a interactive platform tutorial with rewards. The development of NestQuest is ongoing however, we expect an initial release during the month of February. Be sure to join our discord for a chance at a free Egg NFT if you have not received one yet.
As part of the continued peer reviewed process that is expected in the open source environment, the GooseFX team contributed to identifying and helping address some bugs in the new Metaplex auction house contract and has completed our implementation of the Nest NFT marketplace backend. The team is now polishing out the marketplace while we work on a novel NFT fractionalization protocol as well.
GooseFX sponsored the Miami Hacker House putting up a $10k bounty for an NFT leasing feature, which would enable NFT lending with issuer defined expiry conditions. The Cardinal DAO teams’ submission was crowned the winner of this bounty meeting all of the defined requirements. We congratulate Cardinal DAO for this tremendous feat and look forward to seeing their creation become an integral part of the Solana NFT ecosystem.
Looking forward into 2022, we have plenty of work to do, and a fantastic team to take it on. We will continue participating in the Solana Ecosystem and building a strong community around our protocol.
Even with the holiday breaks, December was a very productive month for the team. We have made great progress in regards to the NFT marketplace and single-sided liquidity features, as well as improving our current crypto trading UI. We have received great feedback from users for the current alpha release and have begun implementing those changes for the launch of Synths V2.
The NFT marketplace is in the final stages of review and will be released shortly! The marketplace aims to provide users with the best NFT trading experience as users can take advantage of the new auction house implementation that was provided by Metaplex.
Our implementation of single-sided liquidity improves on the current Uniswap and Bancor models by reducing impermanent loss by a significant factor. Our preliminary reports show that if you had LP’d on Uniswap v3 on ETH for the last 12 months you would have suffered an IL of 59%. Using the GFX SSL design you would only have suffered a 1.5% IL which is a 39x decrease compared to Uniswap v3. We will be releasing a full report next month on the mechanism of single-sided liquidity.
The team is happy to announce that the smart contracts for the Single-sided liquidity are complete and testing/auditing is currently underway!
Golden Goose Community Updates
The team participated in a number of giveaways to promote the platform and the NestQuest NFTs in December. A few team members participated in a live AMA with Chris from the Grape project. It was a glorious conversation touching on all topics including project developments, DeFi, and our macro market outlook. We extend our heartfelt thanks to the Grape team for facilitating that AMA and look forward to our next meeting!
We have also done a number of giveaways with projects such as SLOPE wallet, as well as more holiday-inspired giveaways through our discord. As we grow as a project and as a community we will continue the giveaways to spread the good word of the Goose.
As always we welcome all our new community members and hope you will join us on our social channels to stay more involved.
Disclaimer: The statements, proposals, and details contained above are informational only, and subject to change. We are in early stage development and may need to change dates, details, or the project as a whole based on the protocol, team, legal or regulatory needs, or due to developments of Solana/Serum. Nothing above should be construed as financial or legal advice.