Roadmap
Firefly starts with a strong base. The team is made up of former product managers and developers at Amazon.com, Twitter, and some of the top tech companies in Silicon Valley. We built a world-class DEX on the next-generation Manta blockchain, a Modular chain which is faster and more scaleable than other L2s.
What do we have in store for the future?
Our focus stems from our team being De-Fi and DEX power users ourselves. We as a team sought to build the dream DEX that we always wanted to use. Going forward, as the Firefly DAO takes shape, we as a community together will build the DEX we always wanted.
To that end, we're less interested in adding features just because they sound "technically impressive". For example, some projects are building fancy-sounding features like "asymmetrical hyper-concentrated liquidity", and yet only a limited number of users avail themselves of those complex features.
Our focus instead is on you the Investor. Both trading and LP'ing are a form of investment. How can we make the trading/liquidity experience better in obvious, tangible ways.
Here's what we have in store for 2.0:
1- Accessible, Configurable Limit Orders
V 1.0 of Firefly has limit order functionality. But to use it, you must go through the liquidity provision interface which is manageable but less familiar to some traders. Read here for more.
In V 2.0, we will move limit order functionality to the main AMM Swap page. To use the feature, users will simply select the token, the price to trigger the limit order and the amount. Functionally the limit order will still be carried out "under the hood" in the same manner, in that single-sided liquidity will be used to convert into the token the user wishes to buy. However, the interface will be clearer and more accessible.
Importantly, we will make a critical change useful to traders, that the limit order is not "reversible". Today, since the limit order is carried out through liquidity provision, the limit order can be reversed if the price of the asset moves in the opposite direction. In Firefly V2.0 liquidity will be removed after the limit order is carried out, so users will have the asset they traded for, without risk of reversal.
Users will have configurable options for the limit order for greater flexibility and control.
2- Clear APR Reporting
It is simply odd that Uniswap and Curve don't report user APRs of the LP's positions in their dashboard.
Uniswap shows the amount of fees earned and the user balance (liquidity) but not user APR.
Uniswap shows you the Unclaimed Fees you've earned. You can deduce the APR on your own with a calculator. But it's far from ideal. Further it doesn't seem to aggregate claimed and unclaimed fees- which together make up your true APR.
As liquidity providers, you are busy. You shouldn't have to do these calculations or track your claimed fees. The dashboard should show your User APR over the duration of your LP.
Curve similarly shows fees earned but doesn't show User APR. The APR they report is the pool APR, not the user APR since deposit.
You can see the user still doesn't know what their profit/loss from this position is. The confusing base vAPY is based on a single day of trading activity (not the duration of the user LP) and the tAPR (of APR derived from CRV token rewards) doesn't reflect the CRV token distribution (APR %) from the date of the user deposit till the present day.
What the user wants to know is: what was my APR gain from this position? LP's are an investment. Instead of LP'ing you could be investing those crypto funds elsewhere. So it's important to make clear which LP positions are earning significant APR and which aren't.
Firefly will report the APRs in a way the user can clearly understand their net gains from LP'ing and also how the value of their position compares to the assets had they not LP'd. Both calculations will also factor in rewards tokens- whether third party or incentivized with our $FLY token. The full APR will be shown, not merely unclaimed returns.
The goal: be clear on just how much you're earning from your Firefly liquidity provision investments.
3- Future Enhancements
The following are on our roadmap for future development of Firefly:
Anti Front Running mechanisms so that users aren't subject to price manipulations of rent-seeking bad actors
Algorithmic curation of investment lists such as "Hot Coins" (ie: based on rate of increase of trading volume), "High APR LPs" (trading pairs to LP that show high returns over the last day/week), and collaborative filtering features such as "People like you traded... " showing relevant tokens and pairs based on your trade history.
LP Pair history data. Display the price relationship between tokens in a pair, APRs over time, breakdown of APRS from trading, project token rewards, and 3rd party token rewards.
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