Pacific DeFi — Weekly Report: August 28- Sept 4

Current Weekly Summary:

Technical Development Progress

  1. Continue to work with a UX/UI specialist to design the framework of the Pacific DeFi platform. App Homepage initial UX/UI design has been completed. The liquidity pool page is completed showcasing the PACIFIC and PACIFIC-BNB LP vaults — we will show the designs to our community soon!
  2. Our UX/UI designer will start working on the High-yield Vaults this week and then on to the ‘Lending’ feature designs
  3. Our dev team has been busy working on Pacific DeFi’s token vesting contracts as well as a full-scope token audit before launch on the 17th September. In tandem with those contracts, staking and LP contracts will also be developed and should be ready by 1st week of October
  4. Dev team is also integrating front-end UX/UI designs of the App Homepage and Liquidity Pools so that they can be ready for display post-IDO launch

Marketing Progress

  1. No major marketing efforts have been made yet, but there will be a few press releases coming out in the next week about our launch and what to expect from the Pacific DeFi platform going forward
  2. Off Brand (https://www.itsoffbrand.com) is our partner for website design and are currently revamping our website to make it simple and well designed
  3. Whitepaper has also been updated and will be released shortly on the website
  4. Roadmap has been updated and simplified as we narrow down our product focus — High-Yield Vaults, lending & borrowing, and a launchpad

Product Updates

  1. The team will operate two pools for the liquidity mining process: PACIFIC and PACIFIC-BNB. The liquidity mining period will be 1-year, with 30% of PACIFIC’s supply being distributed to the LPs
  2. Product focus is on high-yield fixed income vaults via auto-staking strategies for stablecoin and non-stablecoin deposits. These single token deposits allow for users to generate yields across high-grade DeFi protocols on the BSC, ETH, Polygon and Solana ecosystems
  3. A ‘Lending’ feature so users can deposit stablecoins and earn yield will also be developed. These stablecoins will be lent out in the high-yield vaults to generate higher stablecoin yields and increase leverage for non-stablecoin deposits (e.g. BNB)

Funding Progress

  1. Private sale has been completed
  2. The team will raise 400k USD via an IDO on the 17th September 2021

Current Community Stats: