To Ref.finance community

1

To Ref.finance community:
As a person who is involved very much in the ref.finance community work.

The purpose of ref.finance was initially created as a community driven project, for the purpose to serve as a missing market place on NEAR native runtime, to establish more meaningful connection with the Ethereum community and to work with the existing projects on NEAR, to enable them to grow token economy on NEAR.

In order to better integrate into the NEAR ecosystem, the community proposed and passed a proposal to start an initial token offering on Skyward for the following purpose:

  1. Learning from the experience of UMA IDO on Uniswap, AMM may not be the best place to do an IDO, and Skyward fits into the demand to have a fairer initial token price discovery, that will be supported by the most participants.

  2. This token sale will inject 2.5% of $REF circulating supply into the free market, to open up trade / access to more people.

  3. Skyward initial token offer allows us to initiate multiple token pool offerings, and extend our connections with the Ethereum community, and encourage people to use the arguably the best asset bridge to Ethereum.

The proposed $REF token offering token was a huge success:
In the process, the Ref.finance DAO raised:

  1. 767,464.4 $NEAR
  2. 496,097.9 $DAI
  3. 102.4774 $ETH

Equivalent to 2,580,823.26 USD as of today’s price according to Coingecko. This was a contribution made by 1906 Skyward participants, composed by NEAR community members and bridged Ethereum users.

This is only the beginning…

The overwhelming support / trust given by the community, transforms into heavier responsibility to the Ref team. Reflecting what we have come thus far, and planning what does the team need to improve in the future, we realize it’s been a difficult task to have a structured & synchronised communication and collaboration as a community.

Hence, as a team, we are working to improve the current stance by assigning responsibility / direct ownership of product, marketing, business partnerships, community etc to each person to deliver result more effectively. While major proposals will still need to pass the DAO voting, the micro management of deliverable items will belong to individuals and their team to execute. We are happy to have Puzzles Media step in as a part of Ref.finance community to take ownership of marketing to ensure precise marketing execution to improve branding & communication.

Beside, one of Ref’s core value comes from its active community. We have currently 30 individuals actively contributing values to the product / community development. Special mentions to:

  • Ozymandius, who is managing the community board members
  • AVB, who is very actively providing valuable feedback
  • Rim, who is actively engaging with the community, and contributing valuable content
  • Khbw, who is actively managing the questions from the Chinese community
  • Youbin, who is working to create a NEAR Defi Korean community
  • Hung, who has generated retail friendly user guides for both Skyward and Ref.finance users, and
  • Ronnie, Blaze, hieun, and many other on every community call to provide feedback and suggestions.

The core development team is working to improve its communication & collaboration with the community to ensure talents resources within the ref.community will effectively convert into product value. For example: Marco, the current leader of backend development, is working more closely with community members, such as Chluff, Didier to design bounties and infrastructures to improve Ref ecosystem.

As a result, please expect the following as deliverable items in this coming week:

  1. Airdrop details
  2. Clear product roadmap
  3. Refined tokenecnomics details
  4. Improved market branding
  5. First partnership to be announced
  6. First draft of bounty design
  7. Improved data presentation on sodaki.com

Ref.finance is not a fork of Uniswap or sushiswap, but a re-implementation of an AMM market built natively NEAR. It has not been an easy journey to come to where we are today, but we have a bigger mission to be the market to grow the NEAR DeFi ecosystem from today.

Keep buidling.

Note: the team is hiring, please stay tuned for more hiring updates this week.

11 Likes
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Thanks for the updates and acknowledgement. Looking forward to more details on the deliverables listed for this week. Onwards and upwards!

AVB

2 Likes
4

dude, whats wrong with you to attach people’s profile in public places.

are you smart? no, dude you even the get the wrong profile.

1 Like