November has been all about the deployment of Fringe Finance V2 to the mainnet and its subsequent validation. In short, we’ve deployed and configured three chains, thoroughly tested them, and we’re currently ironing out the last-minute nuances specific to the mainnet. See the mainnet screenshots attached at the bottom.
Technology Update
We’ve deployed the decentralized backend using The Graph subgraphs, mainnet contract deployments, and a frontend that integrates with the mainnet and the subgraphs. We have full stack deployment.
We’ve been executing a battery of mainnet tests to ensure we identify any mainnet issues that require attention. As anticipated, the nuanced differences between testnet and mainnet identified a few items that are largely now resolved. These include token icons sometimes not loading correctly, ParaSwap intermittent errors (when sometimes opening and closing leveraged trading positions), some UI values showing incorrectly, and margin trading chart intermittent errors. Most of these issues are now resolved. We’ve now released a limited-pilot beta mainnet instance while we iron out the remaining mainnet issues.
Content
Fringe V2 Benefits
We’ve taken the time to articulate the benefits that Fringe V2 offers lenders, borrowers, and traders in a comprehensive article “Fringe with Benefits” released this month. Fringe V2 encompasses a lot and this article is valuable to understand the range of benefits various user personas can enjoy with Fringe V2 and how V2 is differentiated in the DeFi lending and trading landscape.
Amplify and Margin Trade
Fringe Finance is unveiling two groundbreaking leveraged trading facilities with V2 release — Fringe Amplify and Fringe Margin Trade — enriching our money market platform and empowering users to amplify returns and explore new trading strategies. Read more in the “Introducing Fringe’s two new leveraged trading facilities — Amplify and Margin Trade” article.
Atomic Repayments
We have also published “Introducing Atomic Repayments: Repay using collateral” highlighting our new feature that seamlessly allows users to repay loans and margin trade positions using collateral. The atomic repayments are eliminating the need for separate funds and offering unparalleled convenience in loan management and trading strategies
Reyield X-space
Reyield X-space: Fringe’s CTO Brian Pasfield (@0xFrin) attended Reyield’s X-space on 22 November. The X-space has been listened to by 7.7k X users, was attended live by over 250 listeners, and has been recorded in two parts here, and here.
Onward
Even as we deploy V2 to the mainnet, we’re not looking back; design and development work is ongoing for future roadmap items. These specifically include enhancements for V2 and the introduction of V3 with our pooled collateral solution. Future releases will be more streamlined. Fringe V2 was a substantial undertaking and took time to deliver. With smaller future releases, we anticipate shorter intervals between new releases. We’ll keep you updated as we progress.
Meanwhile, enjoy the following V2 mainnet screenshots. 🚀
Mainnet screenshots
Borrow UI — Arbitrum mainnet
Repay, including Repay Using Collateral UI — mainnet. Showing price impact if collateral is used for repayment given we employ external dexes to facilitate the swap.
Lending UI — Arbitrum mainnet: 🏦
Amplify UI — Polygon mainnet: 🔎
Margin Trade UI — Optimism mainnet: 📈
Connect wallet UI — mainnet, showing growing support for different wallet standards.
Fringe Finance’s V2 release introduces significant enhancements to its DeFi lending and trading platform.
This article describes how Fringe has implemented advanced mechanisms to achieve higher security, lower costs, and greater utility, combining a new price oracle model that reduces the risks of price manipulation attacks, a partial liquidation model that lowers costs for borrowers and traders while increasing stability for lenders, and the introduction of spot margin trading facilities to minimize price impact for margin traders.
If you are seeking a feature-rich, robust DeFi lending and margin trading platform that reduces costs and enhances security, read on.
Fringe Finance V2: Differentiators and Benefits
Enhanced Security
Fringe Finance V2 is introducing several security measures that set a new standard in risk management, placing security at the forefront for a safer and more stable DeFi experience.
Price Manipulation Protection Fringe Finance’s new price oracle model is a key innovation, bringing several benefits to our DeFi lending platform. It enhances overall security and reliability, enabling support for listing a broader range of assets. Acting as a wrapper for popular price sources (such as Chainlink, Pyth, and Uniswap V2 price feeds), Fringe’s new price oracle model achieves these enhanced properties.
Price Attack Recovery Mechanism Our new price oracle model includes a recovery systemto detect and mitigate the effects of external market price manipulation attacks. It ensures stability and security against suspected market price attacks
Enhanced Protection Against Market Manipulation The model increases resilience against market price manipulation attacks, providing users with more reliable and accurate pricing. This addresses vulnerabilities widely observed in DeFi, such as incidents like the Mango Markets attack, boosting user confidence in the platform’s robustness.
Price Attack Recovery Mechanism A recovery system is in place to detect and mitigate the effects of external market price manipulation attacks. It ensures stability and security against sudden market volatility.
Borrowers’ collateral protection (Non-rehypothecating model) Fringe Finance distinguishes itself in the DeFi sector with its innovative non-rehypothecation model, setting a new standard in risk management, lender and borrower security, and borrower rights. This model ensures that borrowers’ collateral is securely locked and not used for other purposes, contrasting sharply with prevalent rehypothecation practices in DeFi lending that pose risks like collateral shorting, governance rights misuse, inefficient liquidations, and insolvency of rehypothecating users.
While rehypothecation offers capital efficiency, it comes with heightened risks, especially in volatile markets. Fringe’s approach, offering greater security and collateral availability, appeals particularly in an environment where protocol exploits are common. By not engaging in rehypothecation, Fringe provides a safer, more stable alternative for DeFi lending, prioritizing lender and borrower security over the potential for higher yields, thereby representing a solid step towards a lower-risk, more reliable DeFi ecosystem.
We will soon release a full article describing the superiority of Fringe’s non-rehypothecation lending model.
Capital efficiency
Fringe Finance V2 is set to include several innovative enhancements that will redefine the standards in capital usage.
Improved Price Calculations for Liquidations Borrowers benefit from a smoother price curve with fewer discontinuous price jumps by utilizing time-weighted average prices. This results in fairer liquidation prices for their collateral, minimizing the financial impact during liquidation events.
The increased amount of assets The model’s efficiency and security enable Fringe Finance to integrate over 150 assets, including long-tail assets that are otherwise not well-supported in the DeFi lending and trading market.
Lower liquidation costs for borrowers Fringe Finance’s new Partial Liquidations Model introduces several enhancements, aiming to improve borrower experiences, enhance platform stability, decrease borrowers’ liquidation costs, and foster broader adoption.
Unlike many platforms that enforce full liquidations, Fringe Finance’s model allows for only a part of the borrower’s position to be liquidated. This approach minimizes liquidation fees and market impact.
Proportional liquidator rewards The reward percentage for liquidators varies inversely with the borrower’s position health. This design aims to allow the competitive liquidator market to outbid each other to perform liquidations, and thus minimize costs to borrowers.
Lower price impact for margin traders A key defining benefit of Fringe’s leveraged trading facilities is the utilization of spot markets, providing access to liquid external markets. This is compared to some other synthetic or perpetual trading platforms that employ internal liquidity pools that may have limited liquidity and therefore result in high price impact for traders.
You can read more about our leveraged trading facilities here.
Atomic repayments Borrowers and traders can repay loans using their collateral assets, eliminating the need to use borrowed assets. Read more here.
LP token collateral support DEX liquidity providers will be allowed to use their Liquidity Pool tokens as collateral to take out loans. This opens a more efficient capital usage opportunity for a multi-billion market that is currently sitting dormant.
Better lender ROI through targeted utilization rate Fringe has developed a unique interest rate model targeting a utilization rate. Interest rates will trend to a point that achieves optimal utilization of the lending pool. Rather than adopt the simplistic interest rate models often used by many other DeFi lending platforms that merely target an interest rate, Fringe’s model better assures lending pools are being lent out to borrowers rather than sitting idle, therefore optimizing lender returns. An added benefit of Fringe’s interest rate model is that interest rates will tend to avoid large changes in short periods, leading to more predictability for lenders and borrowers alike.
The improvements delivered by Fringe V2 are not limited to protocol improvements for better protection and effective costs. Fringe V2 includes many new utilities to make lending, borrowing, and margin trading more of a joy for DeFi users. The V2 features include:
Multi-chain support Includes Ethereum, Polygon, Arbitrum, Optimism and zkSync
Multiple lender assets Additional available lending assets open the opportunity for the lenders to receive yield and for borrowers to borrow a wider range of assets.
Decentralized backend Using The Graph decentralized indexing increases Fringe’s censorship resistance by fortificating the infrastructure that could potentially be the target of the attack. Read more here.
Wrapped token gateway The wrapped token gateway that supports auto wrapping/unwrapping of ETH to/from wETH increases convenience for the users.
Gas use optimizations We have reworked our smart contract to be more gas-efficient and optimize the on-chain interactions.
UI improvements Several UI improvements Include dynamic position health indicators, more informative UIs, and more pervasive tooltips. The platform interaction now is sleeker, more intuitive, and easier.
WalletConnect multi-sig wallet support Fringe V2 will support a greater range of different wallets to better support diverse users including users with stringent security requirements. DAOs and institutional users can now interact with Fringe using multi-sig signing regimes via WalletConnect. See more here.
A wider set of secure price sources Fringe is adding support for Uniswap V3 price feeds (with our new price oracle model) and Pyth price feeds, in addition to our current support for Chainlink price feeds. With the added protections of our new price oracle model, this will allow Fringe to securely list a greater range of assets from popular large-caps to more speculative long-tails.
Summary
Fringe has spent over a year improving upon our Fringe V1 core lending platform to deliver with Fringe V2 what we unequivocally consider a major improvement for the DeFi ecosystem. Fringe V2 is not just a copypasta of a generic lending protocol but a stride in innovation to help further realize DeFi’s anti-fragility. Fringe is continuing to strive to deliver a feature-rich, robust, and well-engineered lending and trading platform that reduces costs and increases protections for the widest range of users.
Introducing Fringe’s two new leveraged trading facilities — Amplify and Margin Trade
Fringe Finance introduces two new leveraged trading facilities, an addition to our money market platform — Fringe Amplify and Fringe Margin Trade.
The platforms in a nutshell
The new Fringe Amplify facility enables users to amplify their exposure to a selected crypto asset, and thus accelerate their returns as prices of the asset rise. The user provides a margin amount of a given asset and then selects the additional dollar amount exposure to that asset they wish to achieve. Effectively, the user is ‘going long’ on the collateral asset and ‘going short’ on the capital asset. With Fringe Amplify, the short asset is a stablecoin.
The new Fringe Margin Trade facility enables users to take a leveraged margin trade position on a pair of crypto assets, and thus accelerate their returns in the direction of their trade. The user selects a pair of assets, one to ‘go long’ and the other to ‘go short’. The user provides a margin amount of the long asset and specifies the exposure they wish to achieve to the asset pair.
New opportunities ahead
The Amplify and Margin Trade facilities open up new opportunities for users of the Fringe Finance platform who wish to take leveraged positions to exercise their more sophisticated financial strategies. These facilities are built on the existing money market lending and saving facilities offered via Fringe Lending. Therefore Amplify and Margin Trade inherit Fringe’s core stability and protection mechanisms.
Fringe Finance has also delivered a key enabler for Amplify and Margin Trade via our Atomic Repayments enhancement which uses the user’s collateral to repay and close a loan or trading position. Atomic Repayments allow users to easily close out their leveraged positions in an atomic transaction without needing to have the lending assets on hand to settle the position’s leveraged borrowing position. This means that opening and closing leveraged positions is as seamless as possible.
Decentralized and non-custodial
Fringe Finance’s Amplify and Margin Trade leveraged facilities are built using decentralized, non-custodial smart contract technologies. Fringe Finance is acutely aware of the fraud that continues to occur in centralized finance (CeFi) and our philosophy is to deliver decentralized, on-chain, trust-minimized solutions that are diametrically opposed to CeFi’s trusted model and all its attendant problems. This means our leveraged trading facilities do not pose risks that arise from misuse of users’ funds nor the risk of embezzlement by shady people in sunny climates as has famously occurred in CeFi. Users’ funds are locked in smart contracts.
The leveraged trading protocol is automatically operated by the smart contracts and if the need arises, independent liquidators liquidate positions that fall below minimum collateralization levels to keep the Fringe platform solvent and stable.
How to open a leveraged position
With the Fringe Amplify facility, a user specifies the asset they wish to gain exposure to, the margin they wish to use, and the amplification they wish to apply.
Amplify UI — open new position frameAmplify UI — showing open positions list
With the Fringe Margin Trade facility, a user specifies the pair of assets they wish to gain exposure to, the amount of exposure, and either the margin they wish to supply or the safety buffer percentage to protect against liquidations (one affects the other).
Margin Trade UI — open new position frameMargin Trade UI — showing open positions list
For both these leveraged trading facilities, the amount of leverage that can be achieved is limited by the collateral (long) asset’s loan-to-value ratio.
Use Cases
Fringe Finance is establishing itself to take full advantage of users wishing to gain further exposure to a chosen asset, to trade pairs of assets, and to trade foreign exchange (forex) markets.
Regarding forex trading, we see stablecoins continuing to grow as a segment for the short-term to medium-term timeframe as additional reliable stablecoins emerge pegged to national currencies other than USD. Global traditional finance (TradFi) forex trading volume is very large and even dwarfs global TradFi stock trading, and Fringe sees a major opportunity to displace a portion of centralized forex market operators with our decentralized, trust-minimized, overcollateralized, permissionless leveraged trading facilities. Fringe’s leveraged trading solutions will give participants easier access to these markets at lower cost with greater assurance against counterparty risk.
Composability
Given Fringe’s leveraged trading smart contracts are open and accessible to the world, emerging DeFi management platforms can compose higher-level trading and portfolio management strategies using the leveraged trading primitives provided by Fringe.
How does it work
Fringe’s leveraged trading facilities are built on and employ Fringe’s existing lending and borrowing smart contracts. Establishing a leveraged trading position results in a regular borrowing position on the Fringe platform, so all the assurances of Fringe’s proven, in-market lending platform stability mechanisms are inherited by our new leveraged trading facilities.
For those who are interested, the mechanics of establishing a leveraged position using Fringe’s Amplify and Margin Trade facilities are as follows:
When creating a leveraged position of a user-specified notional exposure amount and the user-supplied margin, the protocol automatically undertakes the following steps:
Capital asset is pre-emptively borrowed from the relevant Fringe lending pool. Notional Exposure amount.
Capital asset is then automatically swapped for collateral asset via a third-party DEX.
The loan position is now collateralized by the swapped collateral asset amount + margin amount supplied by the user.
As a result, the pre-emptive capital borrowed in step 1 is then ‘squared off’, given sufficient collateral is now in place due to the swap. This results in a valid, over-collateralized loan that represents the leveraged position.
Fringe’s value proposition
Larger range of trading assets Fringe differentiates itself from existing DeFi leveraged trading facilities by virtue of the large range of assets that we support. This means traders have greater flexibility in the assets they wish to trade on margin or amplify their exposure to.
Lower entry and exit costs for traders Fringe Finance’s Amplify and Margin Trade leveraged trading facilities employ spot markets to establish and exit trading positions. This is compared with many other margin trading platforms that use internal markets to establish and exit trading positions. Fringe’s approach of using external spot markets enjoys the typically higher liquidity of such external markets which will generally result in less price impact for traders as they enter and exit positions.
Higher protections for traders against market manipulations Fringe’s Amplify and Margin Trade leveraged trading facilities employ our new price oracle model which is central to our core lending platform and provides added protections against market manipulation attacks. This protects traders from potential costs from their positions being partially liquidated due to market manipulation attacks. Additionally, it better protects lenders’ assets against market manipulation risks.
Lower costs in the event of liquidations Fringe’s new partial liquidation model minimizes costs for traders in that only partial liquidations are undertaken as needed. This not only results in lower liquidation costs for traders given liquidation fees are only paid on the smaller partial liquidation, but will typically result in the trader still retaining some/most of the position aligned with their original trading intent.
Summary
Fringe Finance has launched two new leveraged trading facilities, Fringe Amplify and Fringe Margin Trade, for its decentralized, non-custodial money market platform. Fringe Amplify enables users to increase their exposure to a selected crypto collateral asset, while Fringe Margin Trade allows users to take a leveraged position on a pair of crypto assets. Fringe has also integrated Atomic Repayments, which allows users to close out leveraged positions in a seamless manner using their collateral. Fringe’s advanced protocol designs to limit costs for traders and to increase protections against market manipulation attacks are key differentiators in the DeFi landscape. The new facilities are part of Fringe’s strategy to offer margin trading facilities in a decentralized, trust-minimized, overcollateralized, and permissionless manner. Fringe’s leveraged trading facilities are built using decentralized smart contract technologies and are well placed to be adopted by users who are already familiar with DeFi leveraged trading, by users who are looking to migrate from CeFi venues to avoid their pitfalls, and by new users who wish to start using our intuitive leverage trading facilities.
Decentralized finance (DeFi) lending and margin trading platforms have been gaining traction in recent years due to their ability to provide individuals with a new way to borrow and lend cryptocurrencies and undertake leveraged trading. One of the latest innovations from Fringe Finance for our Fringe V2 lending and trading platform is the introduction of atomic loan repayments whereby loans and trading positions can be repaid using the user’s collateral, which offers a range of benefits to users.
Atomic repayments, the benefits
With atomic loan repayments, users can repay their loan and margin trade positions using the position’s collateral and therefore do not need to have the borrowed funds separately available to repay the position. This feature offers significant convenience for Fringe Finance users increasing their options for repaying loans and trading positions.
Previously, users had to manually repay their loans, which involved obtaining the borrowed assets separately and then transferring them back to the lending and margin trading platform. This process was time-consuming and added friction for users. However, with atomic loan repayments, the process is automated, making the process easier for users and reducing associated fees.
Another benefit of atomic loan repayments is that users do not need to hold onto borrowed assets, which can be risky in a volatile market. By using the position’s collateral to repay the loan, users can reduce their exposure to price fluctuations and limit their currency risk.
How does the atomic repayment process work
So how does the atomic repayment process work? The mechanism behind atomic repayments is relatively straightforward. A third-party decentralized exchange (DEX) is used to swap the collateral for the borrowed assets needed to repay the loan or leveraged margin position. The DEX provides liquidity for the trade, ensuring that the user can repay their loan regardless of market conditions. This process is called an atomic repayment because it happens atomically in a single, uninterrupted transaction.
In terms of user experience, all the user needs to do is specify “Repay using collateral” when repaying a loan and Fringe does all the rest. The user is presented with the price impact they will experience from the third-party DEX so that the user has full control to proceed or not — which is important if the asset has low liquidity in external markets. See the screenshot below:
Atomic repayments on the Margin trading platform
In addition to facilitating loan repayments, atomic repayments also make leveraged trading much more accessible. If the user wishes, our Amplify and Margin Trade leveraged trading facilities employ atomic repayments to close positions. With traditional margin trading, users must obtain or hold onto the borrowed assets until they close out their position, which can be risky in a volatile market. However, with atomic repayments, users close out their margin trade positions without needing to worry about holding or obtaining borrowed assets. This makes margin trading more accessible, making it a more attractive option for users.
Conclusion
In conclusion, the atomic loan repayment feature is another example of the continuing innovation in the Fringe Finance ecosystem, offering a range of benefits to users. By removing the need for users to hold borrowed assets, atomic repayments make interacting with the Fringe ecosystem more accessible. Innovations like this are designed to further differentiate Fringe from competitors, to bring our users joy, and to promote adoption.
Fringe Finance. DeFi for everyone.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
The audit for v2 is officially complete! We are thrilled to share this significant milestone with all of you. Audit is an important but not ultimate step in bringing V2 to life.
Now, let’s dive in and get you up to speed on all the noteworthy developments that unfolded throughout this period.
Technical Updates
Audit
The Fringe Finance V2 audit is now done and dusted! Mainnet deployment and configuration next!
Several rounds of audit and rework have occurred and we’ve conducted updated deployments to the testnets to validate our approach for mainnet deployment.
The countdown is on! The next main steps leading to mainnet go-live are:
Mainnet contract deployment and configuration — multi-chain
Auditors will verify our deployments are the contracts they audited
Subgraphs: decentralized backend deployment
Frontend deployment
Deployment validation tests
Listings and configurations
We have devised our configuration parameters for the mainnet. Devising configuration parameters has been a major project in itself given configuration comprises a range of parameters including liquidation parameters, interest model parameters, DEX aggregator integration parameters, lending token lists, and collateral token lists. And for each listed token: price feed sources (Chainlink or Pyth), loan-to-value ratios, debt limits, and lending limits.
From day one, we will be listing 60+ tokens across the chains that we support and then progressively ramping up to almost 200 listings in total. Our current conservative configuration will allow deposits of over $2.5B and issuance of loans of approximately $1.5B. These limits will increase as we monitor and relax our initial conservative stance and when additional liquidity flows into the crypto market.
Our updated count of total listable assets for each chain is as follows:
117 assets on the Ethereum Mainnet
35 assets on Arbitrum
24 assets on Polygon
17 assets on Optimism
4 assets on zkSync
Each chain supports a different set based on the availability of the asset on the chain, the availability of sufficiently liquid markets on that chain, and a suitable price feed. We will be listing almost as many capital assets as collateral assets, which means with Fringe V2 you can go long or short on a range of assets — including with leverage.
Coinbase Wallet Integration
Fringe V2 has also extended support for additional wallets. In addition to Metamask (and all Metamask API-compatible wallets) and Wallet Connect multisig support, Fringe has now integrated Coinbase Wallet support.
Fringe’s integration with Coinbase Wallet enables Coinbase’s CeFi user base to seamlessly transition to our trust-minimized alternative to Coinbase’s centralized offerings, thereby increasing Fringe’s avenues for adoption.
Ecosystem updates
Copiosa wallet verification
We’re thrilled to share that Copiosa Wallet has successfully verified the FRIN token. That means that the Fringe Finance token will have more exposure among the Copiosa users.
The Copiosa wallet specializes in deep insights into emerging tokens.
Integration Co-Marketing
As we’re moving closer to the release date, our marketing team has started approaching the projects whose assets will be available on the platform. We view our significant number of available tokens as one of the crucial sources of awareness and exposure to the platform.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
This month, we’re thrilled to announce that we’re approaching the final stages of v2’s audit. We’ve also been busy working on bringing some new asset listings to Fringe.
Let’s jump in and catch up on all the developments that took place this September.
Tech Updates
Our v2 audit is in its final stages
We’ve made significant progress on the audit process for v2’s features. All identified issues have been carefully addressed, and it’s worth noting that the majority of these were minor in nature. Only three items remain unaltered, and we’ll provide a clear rationale for each once we publish an audit report.
We’re now in the final stages of the audit, preparing a comprehensive document summarizing our audit findings, which will be promptly delivered to our auditors for their re-evaluation. Once the audit is closed, we will proceed with finalizing parameters for each blockchain, conducting thorough testing on the testnet for verification, and ultimately deploying to Mainnets. As a crucial next step, we will deploy the front end and rigorously test its functionality to make sure everything works correctly.
Collateral asset de-listing
Due to changes in feed availability, Fringe v1 de-listed the following collateral tokens this month:
$BAND
$TOMO
$LON
We’re looking forward to our upcoming oracle model implementation, as it’ll reduce our reliance on any single oracle source, allowing us to list more assets.
Asset listing candidates
After extensive research and careful consideration, we’re excited to share our progress in expanding our asset listings across various blockchains for.
Fringe has identified a selection of assets eligible for listing with v2. These assets are categorized across five distinct lists, corresponding to the chains v2 currently supports — Ethereum, Arbitrum, Polygon, Optimism, and zkSync.
For v2’s release, we believe that we can expand our listings offer up to at least:
98 assets on the Ethereum Mainnet.
13 assets on Polygon
12 assets on Optimism
17 assets on Arbitrum
4 assets on zkSync
Note that this is a list of initial listings possible with v2, which means these numbers can and will be expanded with the new oracle model.
Ecosystem Updates
Pyth update
As we discussed previously, we’ve chosen Pyth Network as our primary zkSync oracle source. This enhances our multi-chain flexibility, adapting to diverse price oracle availability.
Pyth will also be one of the sources in our upcoming Price Oracle Model and for v2. Ultimately, we aim to cover as many assets as possible and to incorporate a wide variety of oracle sources.
With Pyth Network covering 30+ blockchains and supporting 300+ price feeds, Fringe v2 will expand to zkSync and four more L2s using Pyth Price Feeds.
Pyth Network will be vital in enabling Fringe’s expansion to zkSync and beyond. Audit underway!
Ape in to zkSummer panel
Join the conversation as we talk zkSync Era, the DeFi lending ecosystem, web3 onboarding, and the innovation powering Fringe’s mission of DeFi for Everyone. Special thanks to AcrossProtocol & Taho Wallet for hosting us!
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
With v2’s audit underway, we dedicated this month to making critical decisions for our multi-chain future, releasing detailed breakdowns of our upcoming features, and building v3’s.
Let’s take a moment to dive into the developments that have taken place this August.
Tech Updates
Key definitions for our zkSync release
As we move closer to our zkSync release, we finalized two crucial decisions:
Pyth will be our primary zkSync oracle source, as Chainlink will not be present for zkSync at our release. This means Chainlink, UniV3, and Pyth will be oracle sources in our new oracle model implementation. Given the different availability of price oracles on other chains, our goal is greater flexibility. We may continue to expand the list of price oracle sources.
As for our zkSync DEX aggregator, and for similar reasons, we will use OpenOcean. We will use Paraswap on other chains, so this Open Ocean integration gives us greater flexibility in this multi-chain world, given the availability of liquidity aggregators on different chains.
Fully-updated documentation
Fringe’s platform documentation is now perfectly up to date with the project’s state, available info, and goals. We will be pushing all future core updates about the project to the documentation, rather than constantly updating the whitepaper as we previously have. Whitepaper edits will be reserved for directional changes and pivots, which will become rare as we solidify our position in the DeFi lending market.
We encourage you to regularly check the documentation for the latest updates about Fringe Finance! We’ll, of course, also ping you whenever an important update happens.
v2 demos
We’ve created a set of carefully made video tutorials for Fringe users! In these videos, our CTO, Brian Pasfield, walks you through the upcoming features in Fringe v2. Each video takes a closer look at how these new features work.
Brian shows how the features function by demonstrating them while explaining the details. This helps users see the features in action and understand how each functionality operates within the v2 ecosystem. These include:
Amplify leveraged trading
Amplify empowers traders to gain leveraged long exposure to assets in a decentralized platform.
Our latest video demos how the Amplify Platform lets users magnify asset exposure through leveraged long positions, multiplying potential gains from the market moving in their favor. See how to choose an asset, set a margin and multiplier, and have Fringe Amplify create a trading position proportional to the margin multiplied by the selected value.
Brian gives a firsthand look at the capabilities of Fringe v2’s upcoming leveraged trading platform, Margin Trade.
He demonstrates the ins and outs of Margin trade, a leveraged trading platform that gives users the flexibility to choose their own pair of assets to trade against, rather than just trading against the US dollar, expanding the range of available trading options.
Due to oracle feed availability changes, Fringe v1 de-listed the following collateral tokens:
$OCEAN
$FOX
$IOTX
$OMG
$DODO
$REN
$NMR
These de-listings are due to the retiring of price feeds for the above assets. One reason we’re extremely excited about our upcoming oracle model implementation is that we will reduce our reliance on third-party solutions. Once Fringe’s new price oracle model is released, some de-listed tokens may be reinstated.
This month, we released an article diving into Fringe’s new partial liquidations model and its benefits. This latest liquidation model isn’t just an upgrade; it’s our commitment to distinguishing Fringe as an inimitable ecosystem within DeFi.
Partial liquidations lead to smaller collateral price impacts and shield the market from cascading liquidations, maintaining a steadier price equilibrium. More liquidators can now jump into the slower-paced Fringe liquidation arena, fostering fiercer competition and better collateral liquidation prices. Borrowers stand to gain through lesser liquidation penalties, retention of part of their trading position, and lower liquidator reward fees.
Fringe’s Partial Liquidations Model is a pioneering mechanism that promotes a more efficient liquidation process, drastically reducing the risk of insolvency and boosting Fringe Finance’s platform stability.
This, along with our revamped price oracle model, ensures better liquidation support, aiming to cut third-party reliance, shield lender assets, and curtail borrower expenses.
We’re thrilled to announce that Fringe now has its very own Zealy page. This means you can dive into a new dimension of interactive quests designed exclusively for the Fringe community to earn $FRIN rewards.
As you’ll see on our page, our goal with this is to start bootstrapping v1 liquidity. It’s a thrill to witness your deposits coming through.
This month, we shared a special video message directly from founder and CEO Paul Mak.
Mak Group is releasing a new project focused on Web3 gaming, BIGA Arcade, to onboard the next million users to crypto. The mechanics are simple: incentives are aligned so gamers are rewarded for their skill, at multiple levels. The ultimate goal is distributing earnings to as many gamers as possible, creating a seamless path from gaming to DeFi.
BIGA will allow gamers to either offboard their earnings to a bank account, or earn yields. This is where Fringe comes along. Yield-seekers will be given a seamless way to move their earnings directly into our platform to earn yield, completing the GameFi-DeFi transition.
Note that both projects’ development teams are independent and will continue to be.
If you’re interested in being one of the first BIGA users, you can join the waitlist at https://bigarcade.org.
Meanwhile, keep an eye on both of our Twitter accounts. There might be more coming soon!
Fringe on DeBank
Fringe is also live on DeBank! Now, Fringe users can track their portfolios, and access data analytics for lending, stablecoins, margin trading, and more. Users can also contribute to the platform by submitting proposals, and earn rewards for their attention.
Furthermore, Fringe is on the shortlist to feature on Dapplist — a user-curated directory for decentralized apps. Weekly, projects vie for votes to secure listings as community favorites.
Fringe joined the Ape into zkSummer panel with Across Protocol, where we discussed the zkSync DeFi ecosystem. Listen to the full Spaces recording here: https://twitter.com/i/spaces/1RDGlazQgBDJL?s=20
imToken Guest Appearance
Fringe CTO Brian Pasfield will also join imToken Partnerships this Thursday on Discord to discuss DeFi with the imToken community. Use the Discord app and scan the QR code here to participate: https://twitter.com/imTokenOfficial/status/1696825327396528260
Decentralize It! podcast.
Konstantin Shirokov, Marketing Lead, hosted a podcast all about yield farming through bear seasons. Join us as we dive into real yield farming metrics with Red Forman of Harvest Finance.
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
New partial liquidations model — mechanism & benefits
This article discusses Fringe’s new Partial Liquidations Model, which introduces a new innovative mechanism to improve borrowers’ experience. It also aims to increase the stability of the Fringe Finance platform and promote its adoption.
This article also dives into the benefits of this model over Fringe’s existing liquidation model, and those of other lending platforms.
Mechanism
The new liquidation model introduces a unique model of partial liquidations not present in most other popular lending platforms that employ partial liquidations.
Using the Liquidation Query facility, liquidators on Fringe Finance can identify positions below the minimum collateralization level. The new Liquidation Query indicates the minimum and maximum amount of the position that can be liquidated. The maximum amount that can be liquidated is calculated to result in the position returning to a healthy state, i.e., the position returning above the minimum collateralization level not to be subject to further liquidation. The Liquidation Query also indicates the percentage reward the liquidator will receive when they undertake a liquidation. This percentage reward is an inverse function of the health of the position, where the percentage reward grows as the position’s health deteriorates.
The dependence on the percentage reward is inversely proportional to the health of the position, allowing a non-time-based Dutch auction of sorts, where liquidators compete with one another and undertake liquidations as soon as they find the liquidation opportunity financially attractive according to their own criteria. We have designed the liquidation model this way due to this model’s elegance and simplicity, as opposed to models used by other lending platforms that rely on time-based auctions. Time-based auctions, such as those used by the DAI platform, require a third party to initiate them, which is a more complex model that introduces higher costs to borrowers (to incentivize the initiation of auctions.)
All references above to a borrower’s ‘position’ are applicable for Fringe’s upcoming v2 — which uses a model where a single collateral asset secures each loan or trading position. With the release of Fringe v3’s pooled collateral enhancements, all loan and trading positions will be secured by the user’s pool of collateral assets. With this, the notion of ‘position’ solvency will be replaced with the notion of the solvency of the borrower’s overall ‘account.’
New price oracle model
Fringe is also implementing a new pricing oracle model, which, among other benefits, better supports the new liquidation mechanism. Our new liquidation and price oracle models are part of Fringe’s concerted effort to provide optimized liquidation and price oracle infrastructure that best reduces reliance on third parties, further protects lenders’ assets, and reduces costs for borrowers. Fringe has developed these improvements to provide best protections against various actual and as-yet unexploited theoretical attacks.
Fringe’s new price oracle model is described in detail here, though it can be summarized as providing a range of improvements, including the following:
Reducing price discontinuations into a smoother curve to ensure borrowers receive the best price for their liquidated collateral during any liquidation event.
Mitigating the threat of downward market price manipulations, where malicious liquidators attempt to lower the price to gain access to borrowers’ collateral at deflated prices.
Mitigating the threat of upward market price manipulations, where malicious actors inflate collateral prices to gain access to loans at below-market prices.
In a future release, mitigating the threat of malicious oracles, where a malicious oracle willfully reports incorrect prices and Fringe platform users can act to withdraw their assets before the malicious oracle’s prices come into effect.
Liquidator resources
Fringe is making it easier for liquidators to liquidate undercollateralized Fringe positions by providing various upcoming resources to help them. These include technical liquidation documentation, the Liquidation Query NPM (node package manager) package that identifies liquidatable positions, example videos of how to install and run the Liquidation Query, and a sample open-source Liquidation Bot that employs the Liquidation Query and liquidates positions, disposing of liquidated assets. With the release of Fringe V2, Liquidators will find links to these resources in our official documentation.
Benefits
Partial liquidations result in less collateral being disposed of on third-party trading venues, thus resulting in less price impact of such smaller disposals. Borrowers benefit from liquidators being willing to liquidate at a lower liquidator reward percentage, given that liquidators will have lower collateral asset disposal price impact costs. Partial liquidations have the effect of simulating a time-weighted automated market maker (TWAMM), meaning that even if the same volume is sold to the market in total, partial liquidations result in lower price impact as an amount is sold in smaller units over a more extended period, allowing for arbitrageurs to re-equilibrate the price on the open market.
Additionally, smaller liquidations result in less likelihood of cascading liquidations that would have a larger price impact on the overall market for those collateral assets.
Fringe’s Maximum Liquidation Amount for any partial liquidation limits the profitability of attackers manipulating collateral asset prices downward, reducing the likelihood of such downward price manipulation attacks.
Given that partial liquidations tend to spread out over time without introducing extra risk for the protocol, this allows more liquidators to participate in a slower-moving Fringe liquidation arena. It also increases competition amongst liquidators and thus achieves higher-priced collateral liquidations, a benefit for borrowers.
Under the new model, some benefits improve borrowers’ experience by incurring a lower penalty for liquidation, often resulting in the borrower retaining some of their loan or trading position. Borrowers are only charged the liquidator reward fees associated with the partial liquidation to bring the loan back above the minimum collateralization level. This contrasts the liquidator reward fees on a full liquidation, as with Fringe’s old liquidation model. Additionally, the borrower retains the remaining open loan or trading position they entered into (now partially liquidated) and thus is still positioned according to their original intent of long exposure to the collateral asset and short exposure to the lending asset. These benefits will tend to result in higher user adoption.
Partial liquidations invite more liquidators to participate, given lower secondary market liquidity requirements to dispose of collateral won in a liquidation. This makes Fringe’s liquidation process more efficient and is expected to reduce the likelihood of positions becoming insolvent, improving Fringe’s stability.
Even for loan positions that become insolvent, our new liquidation model still allows liquidators to perform partial liquidations profitably. This reduces the platform’s exposure to any further downside of the long/short asset pair. And, given insolvent positions ultimately fall on Fringe’s treasury to settle, this will tend to result in less liability and benefit governance token holders.
As you may be aware, loan-to-value ratios (LVRs) assigned to a collateral asset are used by lending platforms to mitigate the risk of sudden downward price movements to ensure there is always ample collateral securing a loan. The greater efficiency of liquidations that arise with our new liquidation model means that Fringe can materially increase the loan-to-value ratios (LVR) offered for collateral assets. This increases the capital efficiency for borrowers and promotes adoption.
As the above points outline, multiple benefits for borrowers and the Fringe platform arise from our new liquidation model. By way of summary, benefits include the following:
Higher collateral prices for borrowers due to simulating the effects of a TWAMM.
Increased liquidator competition by allowing less-capitalized liquidators to compete.
Reducing the size of insolvent positions to the absolute minimum necessary.
Mitigating the likelihood of cascading liquidations.
Minimized impact of downward price manipulation by only liquidating the minimum necessary percentage of a loan to achieve minimum collateral ratio.
Minimized deleveraging of a borrower’s position to the minimal amount to achieve a minimum collateral ratio, leaving the remaining position intact according to the borrower’s original investment intent.
Lower incentives for downward price manipulation attacks by reducing the opportunity of buying the collateral asset cheaply once a liquidation has occurred.
Spreading out auctions over a longer period, providing an opportunity for more liquidators to compete.
Higher loan-to-value ratios for collateral assets.
The new Fringe liquidation model will bring greater stability to our platform (especially in times of high market volatility), benefit users, promote adoption, and have a positive knock-on effect of allowing higher LVRs that increase capital efficiency for borrowers. Since releasing our core lending platform in mid-2022, this new liquidation model is just one more of the material improvements Fringe is delivering that aims to add utility to our platform and further differentiate Fringe from its competitors.
Fringe Finance. DeFi for Everyone.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
While the audit for v2 progresses, work doesn’t stop for us. As you all know by now, we’ve begun laying the groundwork for Fringe v3 and designed the release schedule and UI components for v2, which we’ll be releasing in two parts, v2.1 and v2.2. This allows us to roll out our new features in a more calculated and controlled manner.
This month, we also released a detailed breakdown of our innovative new price oracle model, a long-awaited feature for Fringe, along with other educational materials and improved documentation.
Let’s take a look at everything that happened in July.
Tech Updates
Audit still underway
As we mentioned in the intro, the audit for v2 continues. We have a large set of in-scope items for this audit, including some fundamental changes to Fringe to add significant new utility to the platform.
In time, we will publish a detailed report describing how we treat each finding from the auditors. With all items resolved or otherwise addressed, we will also open-source our smart contracts’ code.
v3 features development
Development and testing continue for Fringe v3’s pooled collateral and the revamped v3 UI. As mentioned last month, the new UI design is a major refit, and we’re testing it in detail. We believe it brings a new level of intuitiveness to our dApp that will help boost user adoption.
New price oracle model revealed
After months of planning and development, we are proud to formally announce Fringe’s new price oracle model! This development, once applied, will greatly enhance the security and reliability of the Fringe platform and provide greater protection from possible attacks.
The enhanced price oracle model brings a host of benefits (click for full article) to both users and the Fringe platform itself. It is a significant step forward that will enable us to list more assets on the platform, getting us closer to our vision of DeFi for Everyone and further differentiating the platform.
Previewing new features
This month, we presented a preview of our multisig functionalities! Fringe’s multisig DAO wallets provide a higher level of security and enable more efficient management of a DAO’s resources, empowering DAOs with greater control and flexibility over their treasuries.
Soon, we will also release an article explaining how you will be able to use Fringe with WalletConnect.
We’re also unveiling how borrowing capital works in v2! In addition to its attack-resistant decentralized back-end, atomic loan repayments, and partial liquidations to protect borrowers from volatility, v2 supports LP tokens for lending and borrowing and features dynamic interest rates for optimal returns.
Watch our CTO, Brian Pasfield, demoing Fringe Lending’s new features:
We hosted a podcast with Eitan Katchka of RiskDAO and b.protocoleth. We talked about the dynamics of managing and assessing risk in DeFi, particularly in the lending space. Give it a listen.
We also participated in an AMA hosted by Altcoin Edge, where we discussed how Fringe unlocks the dormant capital in microcaps and altcoins for lending, borrowing & trading:
Finally, we‘re hosting an upcoming Twitter Spaces on August 2nd with Red Foreman from Harvest Finance. Set your reminders, and join us for an insightful conversation on yield farming through a bear season: https://twitter.com/fringefinance/status/1685967209523449857
Explain Fringe to your Frens
To v2 & beyond! We’re rolling out new features in three subsequent releases. This way, we can ensure a smooth and controlled integration of all new features.
We’ve created some valuable graphics that give you a snapshot of everything coming to Fringe in v2.1, v2.2 and v3.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
In an evolving and complex DeFi ecosystem, innovative solutions are needed to maintain accurate asset pricing while enhancing security. In response to these needs, Fringe Finance has introduced radical improvements to its price oracle model, with new features offering improved flexibility, enhanced protection against market manipulation attacks, and expanding asset inclusion, benefiting a wide range of users on the Fringe platform.
This article describes the benefits of Fringe’s new price oracle model. For a more in-depth description of how the new price oracle works, see the related article here.
Addressing user needs and enhancing protection
Fringe’s new price oracle model brings significant benefits to users, which include lenders, borrowers, and traders. A key feature of this model is improved resilience against market price manipulation attacks, ensuring reliable and accurate prices for user interactions. This means users can have greater confidence in their transactions, knowing they are dealing with a robust platform better equipped to protect them from such attacks. Fringe has developed these material improvements to best protect against various types of theoretical attacks (e.g. the Mango Markets price manipulation attack) through implementing volatility caps, and TWAP (time-weighted average price) processing where feasible.
Furthermore, as explained in the article detailing the improved model (see above), additional protection is achieved by incorporating additional price sources and applying a series of operations on the reported prices to minimize attack risk.
In a notable advantage for borrowers, the new model also reduces price discontinuations into a smoother curve to ensure borrowers receive better prices for their liquidated collateral during any liquidation event. This results in better liquidation prices for their collateral, providing an added layer of protection in the event of a liquidation.
In the same way, lenders (in essence, liquidity providers), gain from interacting with a platform that offers better protection against market manipulation attacks and a more efficient borrower liquidation mechanism. This enhancement translates to safer lending practices, as lenders are assured that their assets on the platform are better protected.
Timely and accurate time updates
The new price oracle model incorporates interaction-activated price updates and bot-activated price updates. Interaction-activated price updates are activated whenever users interact with the lending platform by depositing collateral, taking out a loan, or repaying a loan. Bot-activated price updates occur when a price is older than a predetermined minimum age threshold, where an automated bot obtains a new reported price. This combination of interaction-activated price updates, as well as bot-activated price updates, best ensures price accuracy and timeliness in a cost-efficient way.
Securing the platform with price attack recovery
The price oracle model introduces a price attack recovery mechanism that detects potential market price manipulation events. When a price delta exceeds a given threshold –an indicator of a possible price attack– the new oracle model secures a new reported price. This practice aims to achieve a series of prices that reduce the impact of prices that occurred during the price attack, thereby fortifying the system against sudden price manipulations.
Balancing innovation and cost
While the price oracle model showcases innovation, it also comes with additional processing and storage requirements, leading to higher gas costs. However, Fringe Finance has taken a balanced approach, gradually implementing the new model for assets frequently used by users on the platform. The added cost is warranted for these assets, as a higher number of users rely on their accurate pricing.
Enabling DeFi accessibility for users’ long-tail assets
Fringe’s new oracle model addresses the cost-efficiency and incorporates diverse price sources while minimizing the risk of attacks to the platform. This allows the team to confidently integrate new assets, providing users with the ability to access decentralized lending with assets that previously weren’t integrated into the DeFi ecosystem.
Future considerations: incentivized bots
To further decentralize the platform and improve its censorship resistance, Fringe is considering incentivizing third parties to deploy their own price-updating bots. This would remove Fringe as a dependent party in operating the new price oracle model.
Conclusion
The introduction of Fringe Finance’s new price oracle model demonstrates a significant stride towards improved asset pricing in the DeFi landscape. With its better protection against market manipulations, support for a broader range of assets, and potential for further enhancements, the model is poised to deliver increased value and utility to its users. Few, if any, other lending platforms are applying this level of innovation to their price feeds to best ensure users’ assets are protected. This aligns with Fringe’s mission to further distinguish itself in the DeFi lending and trading platform market.
Fringe Finance. DeFi for everyone.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
Fringe Finance’s New Price Oracle Model for Enhanced Security and Flexibility
Context:
In realizing Fringe Finance’s vision of DeFi for Everyone, we encounter the issue of the lack of public, reliable price feeds for the vast majority of crypto assets. Chainlink oracles have allowed Fringe to list over 40 different tokens for decentralized, permissionless lending/borrowing, but, to fully support the long tail of crypto assets, no available solution meets our security/cost criteria. Furthermore, TWAP (Time Weighted Average Price) oracles, in their existing design, have proven unreliable and in need of refining to be incorporated into a safe system.
To address this, Fringe Finance is transforming its price oracle model to provide more robust protection against market manipulation attacks while allowing for greater flexibility in choosing price sources. Fringe’s new innovative model encompasses two key components: price processing and price procurement, each vital in ensuring secure asset pricing on the platform.
Note: This is a fairly technical article. Another less technical article about the benefits of the model will be published as a follow-up.
Price Processing and Procurement: An Overview
As explained above, we are introducing two key concepts.
Price procurement lays out rules and facilities regarding how prices are obtained, taking into account factors like user interactions and the use of price-updating bots. Procurement also involves keeping price logs to avoid redundant activity and enable more efficient processing.
Price processing involves incorporating additional price sources and applying a series of operations on the reported prices to bolster system protection.
Fringe’s model supports prices sourced from Chainlink and Uniswap V3, allowing each listed asset to be configured with a price source from either of these providers. The price source provides a ‘reportedPrice,’ which becomes the ‘governedPrice’ after applying a volatility cap rule. Several treatments are applied during price processing, including deriving a ‘longTWAPprice’ (a Time-Weighted Average Price over a long time, e.g., 24 hrs) and subsequently deriving the ‘finalPrice’ for collateral assets based on the minimum of the TWAP price and the governed price. Capital asset prices are derived based on the maximum of the TWAP price and governed price. Using minimum prices for collateral assets and maximum ones for capital assets further protects the system from manipulation attacks, making them more expensive.
There are three possible price processing paths –full, partial, and non-TWAP. Some assets will not yet have the new price model applied, in which case the existing price oracle model will apply. For assets where the new pricing model is activated, the ‘full’ or ‘partial’ path taken is contingent upon the time elapsed since the most recent long TWAP accumulator was calculated and stored.
Price Processing Paths and Their Mechanics
Full Processing Path: Applicable when the time elapsed since the most recent long TWAP accumulator log entry exceeds the minimum sample interval. To note, TWAP price processing requires periodic logging of what is called ‘accumulators’ from which the TWAP price can be derived. This path involves executing all price processing steps, including governing the price to limit price movements and deriving the long TWAP price.
Partial Processing Path: Utilized when the most recent accumulator log entry is younger than the minimum sample interval. Here, new long TWAP accumulator entries are neither derived nor stored, avoiding excessive logging.
Non-TWAP Path: Reserved for tokens that do not warrant the gas costs of full or partial price processing due to them not being in high demand on Fringe’s platform. This path only applies price governing without additional processing or utilizing gas-intensive TWAPs.
The price processing paths and related processing steps are depicted in the following diagram:
Rationales & Benefits
Fringe’s price processing steps offer benefits such as reducing risks of upward or downward price manipulation and extending the time that it would take to conduct an attack, which makes attacks less profitable for attackers and therefore less likely. The minSampleInterval aids in reducing the risk of excessive gas costs, and the logMaturingAge ensures the long TWAP isn’t solely dependent on very recent price points, thereby enhancing protection against market price manipulation attacks.
An additional benefit is the creation of new opportunities for Fringe. With support for additional price sources, Fringe can now safely list fractionalized NFTs as collateral assets, as well as a wider range of smaller-cap assets that do not have Chainlink price feeds. In addition to that, Fringe can now operate on EVM chains that do not have Chainlink deployed, enabling Fringe to operate on those chains with less competition.
Notably, the new price oracle model supports more efficient liquidations on the Fringe platform by reducing price discontinuations into a smoother curve to ensure borrowers receive better prices for their liquidated collateral during any liquidation event. This is designed to benefit borrowers and therefore promote Fringe’s adoption.
Price Procurement
The price procurement model involves interaction-activated price updates and using Fringe-operated price-updating bots. Interaction-activated price updates occur when user operations necessitate a price fetch, while our bots help fill in the gaps when user activity on Fringe for the asset in question is low. Fringe’s price-updating bots also act as a price attack recovery mechanism from suspected market price manipulation events.
The gap-fill requirement ensures that the longTWAPaccumulatorLog maintains sufficient entries for calculating the longTWAPprice. Factors like the most recent log entry (mostRecentAccumLog), log maturing age (logMaturingAge), early warning alert percentage (logAlertPercent), and the long TWAP period influence the bot’s decision to run calcfinalPrices().
Price attack recovery identifies suspected market price manipulation events and calls calcFinalPrices() to refresh prices when these attacks end. The current price’s deviation from the mostRecentGovernedPrice entry by more than a predetermined percentage (suspectedAttackDeviationPercentage) and the age of the mostRecentAccumLog triggers this logic. This price attack recovery mechanism works hand-in-hand with the Price Processing treatments that minimize the impact of market manipulation attacks to result in protections from and timely recovery from market manipulation attacks.
Addressing the High Gas Costs of Price Logging
Despite its innovation, the price oracle model incurs gas costs when logging prices through automated price-updating bots. To mitigate excessive gas costs, Fringe will initially limit the deployment of the mechanism for certain assets until the adoption rates can support these costs, funded via a fraction of the platform fees. With this approach, Fringe is able to provide the added protections of our new price oracle model for assets where users most need it.
The following diagram presents the price procurement architecture:
Future Considerations for the Model
Fringe plans to refine the model further by introducing incentivized price-updating bots in a future version, replacing the current Fringe-operated ones. This will help further improve the decentralization of the Fringe platform. Fringe will also implement additional enhancements to safeguard against malicious oracle attacks. Furthermore, Fringe may consider using Uniswap v2 as a price source if market demand justifies it. But, to note, UniV2 will require us to undertake additional costly TWAP-related logging, and, therefore, may only be considered for assets in very high demand.
Conclusion
Fringe Finance’s innovative price oracle model provides an improved solution to maintaining fair and accurate asset pricing within the complex and volatile DeFi landscape.
Our new price oracle model offers additional protections against market manipulation, supports a wider range of price oracles, and allows for a greater range of assets to be listed on our platform (including fractionalized NFTs). The new model also provides opportunities to deploy Fringe to additional L1 and L2 chains and enhances the efficiency of liquidations.
Overall, our new price oracle model is a material enhancement to our platform and is designed to offer our users greater protection and utility. This is part of Fringe Finance’s ongoing mission to deliver increasing value and to further differentiate ourselves from competing DeFi lending and trading platforms.
Fringe Finance. DeFi for Everyone.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
We’ve officially kicked off the audit process for our v2! Due to the sheer amount of upgrades coming to the platform, we’ve split v2’s release into v2.1 and v2.2. We’ve also begun laying the groundwork for Fringe v3.
This month was full of work behind the scenes to polish its release. Let’s recap everything that went down in June!
Tech Updates
v2 Audit is in Progress!
The audit process for v2 is underway. All the platform improvements and smart contracts are being audited by HashEx, a highly respected firm, and auditors of v1.
This audit is essential to ensuring our platform’s utmost security, reliability, and efficiency. The key areas covered during the audit include:
Atomic repayments,
Multiple lender assets,
Multi-chain,
Amplify leveraged trading,
Margin Trade leveraged trading,
New liquidation model,
Decentralized backend,
LP token collateral,
Wrapped token gateway — to support auto wrapping/unwrapping for ETH/wETH,
Gas use optimizations,
UI improvements; and
WalletConnect Multi-sig wallet support.
Please note that pooled collateral and our new price oracle model are currently in the conclusive stages of development and are not included in this audit.
This is the culmination of several months of hard work, dedication, and even theoretical work, as some items will be introduced to the market for the first time. We break them down in this thread.
V2 Rollout
As we mentioned in the intro, v2 will be released in two parts: v2.1 and v2.2. As the audit for v2 progresses, we are breaking it down into two releases to ensure a calculated roll-out of all our new features.
v2.1 includes atomic repayments, support for multiple lender assets, multi-chain capability, an innovative liquidation model, decentralized backend infrastructure, LP token collateral, and a gateway for $ETH wrapping/unwrapping. And v2.2 marks the official launch of the Amplify and Margin trading platforms.
UI Refinements
The dev team has commenced work on our pooled collateral user interface.
With pooled collateral, individuals can combine diverse assets as collateral for loans and margin positions. This approach focuses on an account’s overall solvency rather than individual positions’ solvency, thereby minimizing the impact of a single asset’s volatility on any loan position. If one asset’s value falls, it won’t necessarily trigger a liquidation, as the user’s other assets can still cover the loan. This helps to reduce the risk of liquidations and makes it easier for users to manage their collateral.
The system described above drastically changes the user experience, so the UI needs to be updated to reflect this in the product better. The new UI will be debuted at v3 along with pooled collateral features.
DEX Aggregator on zkSync
Our work on the DEX/liquidity aggregator is currently in progress.
A DEX aggregator combines liquidity from multiple decentralized exchanges (DEXs) into a single interface. It offers several benefits to users and traders, such as improved liquidity, price optimization, cost efficiency in gas fees, and access to a broader range of assets beyond the limitations of a single DEX. Since many of our new features rely on DEXs, developing this aggregator is critical to our roadmap.
Our decision regarding aggregators is to use Open Ocean for zkSync, and Paraswap for all other integrated chains. This is because Paraswap is currently not supported by zkSync. Open Ocean provides access to greater liquidity and possibly a greater range of assets on zkSync than its competitors on this chain.
Integrating with Open Ocean requires custom developments. This is now underway and is a dependency on our zkSync deployment. We may leverage this in the future with any chain where Paraswap is not deployed but OO is.
BSC Feasibility
We are exploring the possibility of implementing a Fringe deployment on the Binance Smart Chain (BSC). We believe this could open up new possibilities for our project and allow us to reach a wider audience.
We are currently in the process of evaluating the feasibility of this project and determining how it can be successfully executed.
We will keep you updated on our progress as we move forward!
Staking and Incentives
Staking and incentives are essential to growing the Fringe community and bootstrapping the platform’s growth. By offering rewards for providing liquidity and borrowing stablecoins, we can attract new users and encourage them to participate in the platform.
We are currently working on a schedule for rolling out these incentives and will share more details.
Ecosystem Updates
Community Call with Fringe Finance
This month, we hosted a community call on Telegram, where we discussed various topics related to our ongoing V2 audit and further decentralization of Fringe. This includes (but is not limited to) the new features and improvements currently being audited and hashing out the plans for a decentralized framework for Fringe.
We are re-engaging existing partnerships and connections to form the multi-chain marketing strategy for V2.
Our existing partnerships will provide us with a strong and trusted foundation to build on. This will allow us to reach a wider audience and grow our community.
Decentralize It! Podcast
This month we hosted Marcus Rein from Edge&Node, a core contributor to The Graph, in an insightful Twitter Spaces podcast. We talked about all things decentralization and touched on how The Graph is revolutionizing indexing for dApps. Listen to the podcast on YouTube:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
This past month, we dedicated our efforts to perfecting v2 and laying the groundwork for our expansive multi-chain DeFi suite.
Let’s take a moment to dive into the developments that have taken place this May.
Tech Updates
Starting the v2 Audit Process
We are thrilled to share that we have officially kicked off the audit process for v2 along with HashEx, a highly respected firm and auditors of v1.
This audit is essential to ensure our platform’s utmost security, reliability, and efficiency. The key areas covered during the audit include:
Atomic repayments,
Multiple lender assets,
Multi-chain,
Amplify leveraged trading,
Margin Trade leveraged trading,
New liquidation model,
Decentralized backend,
LP token collateral,
Wrapped token gateway — to support auto wrapping/unwrapping for ETH/wETH,
Gas use optimisations,
UI improvements; and
WalletConnect Multi-sig wallet support.
Please note that pooled collateral and our new price oracle model are currently in the conclusive stages of development and are not included in this audit.
Further UI Improvements and Revamp
We remain committed to continually improving our user interface, ensuring it remains visually appealing, user-friendly, and responsive. Some UI adjustments will be introduced at v2, with a likely total revamp at the time of launching pooled collateral functionalities, since these practically force a different presentation style.
As we progress through the audit process with HashEx and implement these new features, our focus remains on prioritizing our platform’s security, usability, and overall user experience. We will continue to provide regular updates, ensuring our users have access to the latest advancements in decentralized finance. Stay tuned!
Testnet on zkSync
We’ve successfully deployed our Testnet on zkSync for internal testing. This gets us one step closer to a release on this network, although some challenges related to oracles still need to be cleared out, given zkSync’s inability to support Chainlink at the moment.
What happens after v2?
Our upcoming release, v2, is just the beginning. Our ultimate goal is to create a fully permissionless DeFi environment where everyone can benefit from the most lucrative opportunities, from retail users to DAOs and whales.
We’ll be hosting a Twitter Spaces and podcast episode with Polina S., host of the Offchain podcast, this June 2nd. Our discussion will explore the fascinating world of building Web3 communities, both online and offline. To listen to it live, set up a notification at: https://twitter.com/fringefinance/status/1663610761229357060
We are also announcing another Spaces with a significant player in the DeFi scene this week!
Expanding and improving documentation
We have been actively updating the Fringe Finance documentation to ensure our users stay well-informed. This is an ongoing project, as we aim to reflect all our platform’s recent and upcoming upgrades and enhancements.
All the pages related to the Fringe project itself (first section) and Fringe Lending, previously known as the Primary Lending Platform (PLP), are up-to-date. We are also working on producing technical and semi-technical articles that delve into the new components of the Fringe Platform.
Ambassador program
Our Ambassador Program has been instrumental in extending Fringe Finance’s reach and amplifying community engagement by empowering community members to share our message and values with others. This ground-up approach has enabled us to build stronger connections across various communities. We are grateful for our ambassadors’ dedication and thank them for their continued efforts in raising awareness and fostering collaboration within the Fringe Finance ecosystem.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
Fringe is constantly evolving and improving. As we deploy Fringe’s v2, we already plan for what comes next.
In the second half of 2023, we’re gearing up to release several new features, integrations, and enhancements. All these improvements are designed to boost the platform in three dimensions; security, liquidity, and functionality, all focused on advancing our goal of #DeFi4Everyone. Every one of our new features is geared towards exploring opportunities for as many assets as possible rather than simply highlighting popular ones.
Let us give you a tour of our plans for Fringe Finance’s post-v2 era.
Margin & Amplify platforms
First up are our upcoming Margin and Amplify trading platforms.
Margin
Margin will provide users with the flexibility to choose their own pair of assets to trade against, rather than just trading against the US dollar. This will allow traders to select the base or “quote” asset of their choice, expanding the range of available trading options. Traders can take leveraged positions according to the direction they believe the market will take for a given pair, and select the amount of margin they want to add to the trade.
The user experience for the Margin Trading Platform differs slightly from the Amplify platform (see below), as users can select the assets they want to trade and adjust the parameters of the trade, including the degree of exposure they wish to gain. This is a crucial addition to the Fringe ecosystem, as it will attract traders looking to maximize their returns in the assets they’re most interested in without using centralized platforms, expanding Fringe’s user base.
Amplify
The Amplify Platform, on the other hand, will allow users to magnify their exposure to a specific asset by taking a leveraged long position. This means that anyone can put down a deposit and receive amplified exposure to the asset they choose to trade, in this case, in relation to its US dollar value. With the use of loan-to-value ratios, traders can potentially multiply their exposure and amplify any gains resulting from the market moving in their favor. However, it’s important to note that traders should be aware of the added exposure if the market moves against their position and understand the risks associated with taking leveraged positions.
Both platforms will offer robust security measures to protect users’ assets and provide a seamless trading experience.
USB Stablecoin Platform
Another long-term goal for Fringe Finance is the USB Stablecoin Platform. This will introduce our stablecoin-backed lending platform.
The USB Stablecoin Platform allows borrowers to deposit their crypto collateral and mint a stablecoin called USB that is pegged to the US dollar. By doing so, borrowers can effectively leverage their crypto holdings as a line of credit. The platform’s economic mechanism is designed to maintain the stability of the USB stablecoin by requiring borrowers to pay a stability fee that acts as an interest rate. In turn, USB savers receive interest payments, which creates a dynamic interplay between the two parties. The platform also accepts a diverse range of whitelisted altcoins as collateral, which sets it apart from similar platforms.
While the initial V1 release will feature a reliable and secure platform, it relies heavily on $USDC as part of its pegged stability mechanism. However, with the IMF targeting stablecoins, we’re already planning ahead.
Subsequent USB releases will cover the platform’s censorship resistance, ensuring it remains a trustworthy and decentralized option. Alternative stablecoin mechanisms (such as those that are ‘stable’ but not pegged to a fiat currency) have languished until now because USDC-dependent stablecoins have worked fine. But that’s likely to change as the DeFi ecosystem moves away from pegged stablecoins and explores alternative stablecoin mechanisms. Specifically, mechanisms that offer stability without centralization or censorship risks. We’re excited by the possibility of eventually moving away from dollar-pegged stablecoins with USB’s v2. Future releases of the USB platform will focus on complete decentralization and enhancing its censorship resistance.
Furthermore, USB will also be further empowered by the Savings platform, where USB holders can lend out their tokens to earn yield.
New oracle price model
As we continue to build on the robust foundation of the Fringe platform, it is essential to emphasize the importance of not relying on a single oracle provider for any DeFi project. In decentralized finance, oracles play a critical role in providing accurate and up-to-date information on asset prices. However, relying on a single oracle provider can create a single point of failure, potentially exposing the platform to malicious attacks or price manipulation.
In light of these risks, Fringe is committed to developing a decentralized oracle solution that allows the platform to list as many assets as possible within our lending ecosystem. By diversifying our oracle sources and integrating multiple trusted providers, we aim to minimize the risk of manipulation and increase the overall security of our platform. This innovative approach ensures a more resilient price feed and fosters a healthier and more competitive lending ecosystem.
Furthermore, by developing our own oracle solution, we can create a flexible and scalable system that supports adding new assets and financial instruments as the DeFi market continues to grow and evolve. This adaptability is crucial for maintaining a thriving lending ecosystem, as it empowers Fringe to respond effectively to our users’ changing needs and demands.
The new oracle price model is designed to work with Fringe’s partial liquidation model, offering a comprehensive and cohesive approach to risk management on our platform. By combining these two features, we can better protect our users from sudden price swings and mitigate the impact of potential price manipulation. This, in turn, builds trust in our platform and ensures a more secure environment for all participants.
In conclusion, developing a decentralized oracle solution that supports a diverse range of assets is paramount to the success and security of any DeFi project. By reducing reliance on a single oracle provider and implementing a dynamic, multi-faceted approach, Fringe aims to create a resilient and adaptable platform, ensuring the long-term growth and stability of our lending ecosystem.
Collateral pools
The following integration on our docket is pooled collateral. As you know, we’re always looking for ways to make DeFi lending and borrowing more accessible. This addition will allow users to pool their various collateral deposits to take out loans against them as a whole.
Previous iterations of our lending design limited users to taking out loans against a single collateral asset. However, with the introduction of the pooled collateral enhancement, users will be able to borrow an asset like $USDC, $USB, or even $ETH (as more lending assets will be introduced with v2) along with a pool of multiple collateral assets. This flexibility and power of pooled collateral will enable users to leverage various assets, which can result in more diversified and robust lending portfolios. Users will no longer have to worry about the volatility of a single collateral asset impacting their entire position, as they can pool multiple assets and spread the risk.
To support pooled collateral, Fringe Finance is changing its liquidation mechanism. Previously, a borrower’s loan position had an explicit link to a particular collateral asset, and if that asset’s value dropped below a certain threshold, the position would be liquidated. However, with pooled collateral, a loan position will no longer be explicitly linked to any one collateral asset.
Instead, a borrower’s deposits will be pooled together, and a liquidator can select which collateral assets they wish to liquidate. This not only supports the flexibility of pooled collateral but also provides a more efficient and dynamic liquidation process that can quickly adapt to changes in the market.
By eliminating the traditional one-to-one link between collateral assets and loans, we aim to break down the barriers and make it possible for smaller investors to participate in DeFi lending and borrowing, regardless of their experience level or the size of their investments.
Multisig DAO wallets
Our next integration is multisig DAO wallets to provide a higher level of security and enable more efficient management of a DAO’s resources.
Multisig DAO wallets are a crucial step towards our vision of bringing DeFi to Everyone, and empowering DAOs with greater control and flexibility over their treasuries. With the built-in security of a multisig setup directly in the Fringe ecosystem, DAOs can optimize their resources and confidently navigate the complexities of a decentralized landscape, using the Fringe Finance ecosystem as they see fit.
Real yield and DAO governance
By staking their $FRIN tokens, users can earn real returns from the fees collected by the platform. They will also have a direct hand in moderating the use and distribution of network fees through the Fringe DAO. This unique opportunity provides an edge in today’s highly competitive crypto market, incentivizing users to participate in the platform’s maintenance actively, rewarding them for its success.
One of Fringe’s most expected features is, without a doubt, fee distributions. For this innovative mechanism to enter the picture, it’s critical that our platform begins collecting and earning fees from users, which can then opt into receiving their share. Every single addition to the platform, and every marketing decision made along the way, has the ultimate goal of bootstrapping this adoption.
In summary, it all starts with v2
Share this with your frens, because it will fully transform their thoughts on this project.
These releases, integrations, and enhancements will build upon the foundation laid by Fringe’s v2, creating a more robust and secure platform. The team is also engineering various crypto-economic enhancements to improve the platform’s liquidity and overall functionality.
Fringe v2 introduces several cutting-edge features that make DeFi lending and borrowing more efficient, stable, and user-friendly than ever before.
With the introduction of partial liquidations, borrowers will be able to manage their loans more effectively, while multi-asset lender tokens and multi-chain support provide greater flexibility and access to a broader range of assets. Atomic loan repayments simplify the repayment process, making it more convenient for borrowers, and LP token support offers unprecedented flexibility and access to the untapped value of Liquidity Pool tokens. Additionally, an improved interest rate model maximizes the percentage of lender funds being loaned out, decreasing costs for borrowers and increasing revenue for lenders.
Fringe is committed to avoiding total reliance on centralized lending assets by increasing the available asset types while prioritizing decentralized assets. Simultaneously, we’re also taking significant steps toward trust minimization. We aim to implement an open-sourced frontend codebase, allowing greater transparency and collaboration within the community. This will ultimately pave the way for the Fringe DAO to take control of the platform. This move will further decentralize our lending ecosystem and create a more equitable and sustainable environment.
These innovations are underpinned by a decentralized back-end and integration with decentralized indexing services, which offer greater transparency and security for users.
Ensuring security is a fundamental aspect of Fringe’s mission to democratize access to DeFi for all. Unlike traditional finance, DeFi’s decentralized nature often lacks the same safeguards, making security a top priority.
Prioritizing user security and the security of funds is crucial for the long-term success and sustainability of any DeFi project. So far, Fringe has conducted rigorous audits and thoroughly tested each platform iteration. This process will continue so that we can better guarantee the project’s safety and prevent potential security breaches or exploits.
Our ultimate goal
Our ultimate goal is to enable a fully permissionless DeFi environment where retail users, DAOs, and whales can benefit from the most lucrative opportunities.
Current DeFi platforms have limited options for smaller altcoins, leaving them without access to the benefits of this emerging financial ecosystem. By expanding access to a broader range of both well-known coins and lesser-known assets, we are creating a more inclusive and equitable economic system that benefits everyone, regardless of their token holdings.
Fringe Finance is DeFi for Everyone
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
As we continue honing and fine-tuning our product’s v2, this month was full of work behind the scenes to polish its release. Let’s take a moment to catch up on all the significant developments that have taken place this April.
Tech Updates
Throughout the month, the team has made significant progress on various aspects of the upcoming v2 release. One of the primary focuses has been zkSync, as the team works on a crucial fix in collaboration with the famous L2 to allow Fringe Finance and many other projects to launch there. The process is taking some time due to a The Graph integration that needs to be carefully implemented for security reasons. It’s worth noting that our enthusiasm toward launching on zkSync hasn’t died down. It remains an exciting chain with a clear, innovative vision, and its top lending platform sits at a TVL of around $10 million in funds, signaling that the competitive landscape is still young and up for grabs.
Another notable achievement is the development of a liquidation bot that integrates with third-party flash loan platforms. The team has built this along with liquidation bot scripts that continuously monitor borrowers’ positions to identify liquidation opportunities. The team is currently integrating this bot with a limited third-party flash loan and DEX platforms. Liquidators will likely want to extend this to other platforms on various chains.
Meanwhile, Fringe Finance’s v2 is now ready for an audit, with the auditors preparing to receive the code. The team expects to receive the auditing findings within a few weeks of the auditing process beginning (we’ll advise when this happens!) and then work on addressing any issues.
As you know, v2 will enhance the platform’s features and improvements. As developments continue, the Fringe Finance team remains committed to providing an accessible, secure, and user-friendly DeFi ecosystem.
Ecosystem Updates
The team has been actively enhancing our online presence and strengthening partnerships. The website’s homepage has been updated, and there has been an increase in activity on Twitter, thanks in part to the Ambassador Program.
The team has proactively contacted collateral asset teams, informing them about the upcoming v2 release. We have also increased their outreach efforts to Key Opinion Leaders (KOLs) on Twitter, building awareness and fostering connections within the industry. Close communication with the The Graph team continues, showcasing Fringe Finance’s dedication to maintaining strong relationships with partners.
Finally, Fringe Finance has been listed on the XT exchange, expanding its reach and accessibility to new users.
Ambassador program
The Ambassador Program has been instrumental in extending Fringe Finance’s reach by empowering community members to evangelize our message and values. This ground-up approach has led to increased engagement, enabling us to build stronger connections across various communities. We are grateful for our ambassadors’ dedication and thank them for their continued efforts in raising awareness and fostering collaboration within the Fringe Finance ecosystem.
Explain FRIN to your Frens
Long-term vision
The mission of #DeFi for Everyone does not stop with our upcoming v2 release.
We put together this infographic featuring all of our future plans. From a censorship-resistant platform to margin trading and the USB stablecoin, we’re shooting for the stars.
See what’s next:
It doesn’t stop. It never stops.
v1 vs v2
Check out this other infographic illustrating the critical differences between Fringe’s v1 and v2. Discover the upgrades and improvements that set v2 apart, and join the conversation on our journey across Ethereum, Arbitrum, Optimism, zkSync, and Polygon!
We’re low-key v2 maximalists.
Collateral Asset Listings
In March, we expanded our list of accepted collateral assets with two new integration announcements! The new listings are:
Due to an issue with the token’s programming, the integration of $MKR still hasn’t been possible. Our team is working on addressing this so that the token can be listed sooner rather than later, although, given the available resources, this is not a high priority.
Community Call with Fringe Finance
We recently hosted a community call on Telegram, where we discussed a range of topics related to our V2 launch. This includes (but is not limited to) the new features and improvements that users can expect. Watch now and brace yourself for #DeFi for everyone!
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
It’s our pleasure to announce the integration of Maker ($MKR) into our platform! This means that users will be able to access stablecoin loans while holding onto their $MKR tokens, allowing them to optimize their capital and maintain their positions.
Fringe is also in the process of launching its multi-chain v2 product, featuring a new approach to decentralized loans on Arbitrum, Polygon, zkSync, and the Ethereum Mainnet.
$MKR is the native ERC-20 governance token for Maker Protocol. The primary function of $MKR is to provide its holders with voting rights regarding Maker’s development and any proposals that could impact the DAI stablecoin.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
About Maker
Maker Protocol is an expansive decentralized application on the Ethereum blockchain. It is responsible for powering and maintaining DAI, the first collateral-backed, decentralized stablecoin. Maker Protocol is governed by the MakerDAO, which is exclusively composed of $MKR holders.
We are integrating $BAND into our platform, and you will be able to use it as collateral on our Primary Lending Platform. This means that holders will be able to access stablecoin loans while holding onto their $BAND tokens, allowing them to optimize their capital and maintain their positions.
Fringe is also in the process of launching its multi-chain v2 product, featuring a new approach to decentralized loans on Arbitrum, Polygon, zkSync, and the Ethereum Mainnet.
Initially launched as an ERC-20 token on Ethereum, $BAND has since migrated to its own blockchain. As a cross-chain data oracle platform, $BAND facilitates the aggregation and connection of real-world data and APIs to smart contracts, making it a versatile cryptocurrency with potential applications in various industries.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
About Band Protocol
Band Protocol provides a secure, blockchain-agnostic, decentralized oracle framework for Web 3.0 applications. It connects smart contracts with trusted off-chain data and ensures data integrity through token economic incentives, effectively creating a trusted information bridge between the Web 2.0 and the Web 3.0 of the future.
