Pacific DeFi — Weekly Report: July 31st-August 7th

Current Weekly Summary:

  1. Continue to work with a UX/UI specialist to design the framework of the Pacific DeFi platform. It is a milestone-based work project, with the first milestone currently in development: App Homepage. The next milestones include trade and liquidity pool designs before moving on to more complex product design frameworks
  2. Currently in the process of selecting front-end developers to integrate the UX/UI designs of the App Homepage
  3. The Pacific DeFi token will be on the BSC network but during the launch, 50% of the liquidity will be bridged from PancakeSwap to make a market on the KuCoin Community Chain (KCC) from the BSC. Since the KCC is interoperable with the BSC and Ethereum blockchains, there should not be any issues with the migration. We have selected to be inter-operable with the KCC based on the following: (1) interoperable with both BSC and Ethereum chains, (2) less-crowded space with first mover advantages, (3) low-transaction costs and (4) contributes to the healthy growth of a new ecosystem
  4. Reviewing backgrounds of Solidity developers who have extensive experience in smart contract development and implementation of Pacific DeFi’s liquidity mining and auto-staking features. The team has reached out to contacts to help them in their search since finding talented developers can be very difficult and a long process
  1. Private sale deck has been formatted for release to investor-network
  2. Airdrop with AirDrop Detective was a massive success with growth on all our social media channels
  3. No other major marketing has been done yet. The team is focused on working with a launchpad partner and finalising the tokenomics details
  1. The team has decided to have only two vaults for the liquidity mining process: PACIFIC and the PACIFIC-BNB LP vaults. This is to keep things simple
  2. The team has also decided to streamline the product offering and remove its auto-compounding features and instead focus on high-yield fixed income vaults from auto-staking strategies. Lottery, insurance and asset management products have been removed as the team focuses on (1) High-yield fixed-income products via auto-staking vaults, (2) lending and borrowing, and (3) structured products
  1. Currently in seed stage via founders’ funds only. The team will partner with a launchpad to conduct private and public sales as we aim to be more community centric and rely less on VCs
  2. The team aims to raise between 300–500k USD in total funds from seed to public sale. We believe we do not need much funding at this point as we figure out the best products to work on and can obtain institutional capital at a later date if it is needed

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Pacific DeFi is a financial eco-system offering the best stablecoin and altcoin yields in #DeFi