A Recap of Q2 2022
Hi There 👋
It’s been a while since we last updated you guys on what’s been going on at Exponent. Even though the market’s down, we’ve remained strong and continued to BUIDL through these tumultuous times. Without further ado, here’s a recap of what we’ve accomplished in Q2 2022
Big Fat Industry Wide Lesson of Q2: We Need Transparency and Trustlessness
The insolvency contagion plaguing CeFi companies and their users, along with the collapse of 3AC has validated our thesis that there is a need for transparent, trustless, and risk-mitigated crypto treasury management solutions.
However, for teams to move over from CeFi’s perceived simpler solution to an on-chain solution, they will need tools to help them:
Efficiently operate and coordinate on-chain treasuries such as a multisig wallet;
Discover and select risk-adjusted automated strategies to manage their assets; and
Comprehensively assess and monitor DeFi and asset risks
Product and Engineering
Risk Monitoring and Alerting Infrastructure
We have deployed a risk metrics dashboard on top of our own BI stack that will supplement the strategies that will launch along with Fennec Stash. Data for these metrics are fetched in real time, enabling real-time iteration, data visualization, and push notifications to notifiers such as Discord, Telegram, and many more.
This infrastructure allows teams to remain vigilant of their positions and act swiftly when risk parameters are met.
An example of the risk monitoring dashboard for our Pool Dollar Yield strategy
Fennec Stash UI Updates
We completed the development of the Fennec Stash Beta Release UI. Our beta release will support the following functions:
Deposit and withdrawals through the app.
Gnosis Safe Integration: Treasury signers can sign, execute, and deny transactions directly on the Fennec Stash UI.
Custom experience for single users and teams
Availability on Ethereum and Polygon
A mockup of the Fennec Stash UI
Fennec Stash Beta Release
We will be rolling out the Fennec Stash Beta Release for selected cohorts soon. Fennec Stash is a Web3 money market account for teams, offering automated and risk-mitigated yields on idle stablecoins in their treasury. With Fennec Stash, organizations can minimize the risks and inefficiencies in interaction with DeFi protocols through a multisig in a non-custodial manner. Supplemented by our risk monitoring and alerting infrastructure, teams will be able to remain vigilant of their treasury’s activity.
Learn more about Fennec Stash and join the Beta release 👇
Docs: https://docs.exponent.cx
Email: contact@exponent.ai
Twitter: @Exponent_cx
Discord: https://discord.gg/43jv3UKUeK
Enzyme Grants Proposal: External Position
We put in a proposal to the Enzyme Council for a grant to build External Position, a feature for vault managers on the Enzyme Sulu release. External Position provides fund managers with the flexibility to interact with DeFi protocols without the need for external price feeds or asset fungibility, i.e. Uniswap V3 or Compound debt positions. Today, running a complex DeFi strategy requires multiple sequential smart contract interactions which is still very difficult to achieve in its current form. Exponent’s proposal is to create a general architecture for complex DeFi interactions that utilizes Sulu’s native external position feature.
Learn more about our proposal here.
Business
Exa Joins the Enzyme Technical Council
Exa has joined the Enzyme Technical Council (ETC), which is part of the Enzyme Council. The Enzyme Council comprises of the Enzyme Technical Council and Enzyme User Representatives (EUR) who are bound by fiduciary duties to act in the best interest of the protocol
The Enzyme Technical Council aims to provide technical expertise with regards to Eznye’s decision-making processes, allowing for a faster process. The ETC hosts bi-monthly meetings and participates in all votes, with a primary emphasis on:
Protocol Upgrades
ENS Subdomains
Resource Allocation
Network Parameters
To learn more about Enzyme’s governance policies, check out their docs 👉 https://specs.enzyme.finance/governance/governance-overview
SAFE Guardians
We applied for and was accepted into the Gnosis Safe Guardians Program. Safe Guardians are active Gnosis Safe community members who contribute to drive the adoption of smart contract accounts and improve the UX and security of Web3.
Learn more about the Safe Guardians Program here 👉 https://safe.mirror.xyz/JTOFLIYkTF8C61-DZFBB3QzhrFSsaB8kAIx153rl9Y0
Founder’s Friday
We started a series of fireside chats called Founder’s Friday where we invite founders from different protocols to discuss a wide range of topics.
So far we’ve had 2 Episodes:
Shiv Malik, CEO of Pool Data and Lawrence Lundy-Bryan joined us for a discussion on building during a bear market
Mona El-Isa, Founder and CEO of Avantgarde Finance and TheKidGC, Marketing Lead at Avantgarde Finance joined us to discuss Enzyme’s Report - The Treasury Dilemma
We also have another Founder’s Friday planned this month so be sure to keep your 👀 out.
If you want to join us for a Founder’s Friday, feel free to reach out to us!
A New Engineer Has Appeared!
We’d like to welcome our newest member, Prof Exponent, to the team who will be joining us as a senior full-stack engineer to help round out our team.
That’s a Wrap 🎁
We hope you’re as excited as we are with what we’ve done and what’s to come!
If you want to check out Exponent, visit our website
Stay updated by following our Twitter
