Alexis here from the JellyFi team. We have received a grant from the Aave Grant DAO two month ago now and wanted to give an update on where we’re at right now:
Progress made so far
At the time of the grant the project was know as L2P.finance, this name has been decided during the hackathon we participated in early January of this year. We rebranded everything in order to better match with our protocol’s vision and our product’s core values.
The alpha has been released on the Kovan testnet and is integrated with Aave. It allows lenders to deposit aDai to earn an additional yield on top of the one they are earning on Aave. Borrowers can borrow Dai directly from the protocol once whitelisted. (As of today we are being the borrowers as it helps us run simulation on the platform).
Where are we heading
We started working on the v1 which will contains multiple new features such as:
→ Order book of interest rate
→ New assets to deposit/borrow
→ Possibility to delegate your funds from Aave using the credit delegation feature (this feature might be restricted to high deposit in the beginning as it turns out to be a lot more complicated on the gaz optimisation side).
We’re talking with multiple potential first partners that would be willing to launch a small borrowing pool on mainnet as our goal is to move to mainnet later this year.
As of today the grant helped us pay legal fees and had been such a great help on the bootstrapping of the protocol, we are super thanksful for that! Hope you liked the alpha and if you didn’t check it out yet, please go on: https://app.jellyfi.io/