The Latest From The Byte Masons

Introduction

Hello and welcome to the Byte Mason’s Dev Update newsletter! My goal with this newsletter is to catch you up to speed with everything we’ve accomplished and are currently working on in the Byte Mason’s Lodge. After we are through you will be “in the know” when it comes to ongoing Byte Mason’s projects. We will begin with a quick recap and examination of the OATH launch and the future of the token.

OATH – Redacted No More

OATH, the long awaited Byte Mason’s token. It was a very eventful launch to say the least! A whole lot of firsts for the team and our community. We put a lot of thought and effort into the release and we fully believe it paid off. I’ll keep this section short as Helper already wrote a great summary of the event, including the tokenomics, which you should definitely read. 

We developed a unique ARG marketing campaign to launch the token and it was a great success. It spawned an entire crab nation which is very exciting. We were ecstatic to see how much everyone enjoyed playing along and would like to continue putting out interactive material like this. 

So, as for the short summary: the launch was a success! 

The LGE looked and sounded cool as hell thanks to Munchies’ front end work and Crezno’s music. The site is still up if you’d like to bask in its beauteous glory.

Aesthetics aside, let’s take a quick look at some numbers:

Tokenomics

  • Maximum total supply of OATH: 400,000,000
  • Initial supply of OATH: 54,800,000

LGE

  • Available tokens: 80,000,000
  • Price per share: 1 wFTM
  • Approx. 9,673,519 shares issued
  • 8.27 OATH received per share

LBP (Price Discovery)

  • The price of OATH in the pool began at $0.60 and stabilized at around $0.25 at the end of the event..

Check out this diagram to see how the total supply has been allocated:

For more detail on these allocations, please check out Helper’s article.

Learn.bytemasons

The Learn initiative is growing fast! The fantastic feedback we’ve received is really helping us develop and move forward with our vision. As a result, we are looking at things a bit differently and have decided to completely overhaul the Learn site. Our new platform is easier to navigate, easier to read and capable of hosting a greater variety of content. 

Content Diversification

There are a bunch of ways to learn and we want to account for that. We know essays and articles just don’t appeal to everyone. Our first step to address this is a ramping up of our audio/visual content. That means you can expect more videos and podcasts both by us and our contributors. Keep your eyes peeled and ears open for more updates as we get the ball rolling!

Feedback

We really appreciate all the feedback we get and keeping a dialogue open with our users is a top priority for us. We try to update articles as users provide corrections and suggestions so please, keep them coming. 

We’ve created a Learn specific Discord to connect other crypto content creators with the community and facilitate conversations specific to the platform. It’ll be a great place to hang out, chat and learn! Join here!

Stats

We’ve seen some strong numbers at this early stage of the Learn platform. We’ve had about 6k unique users since our launch last month. Not bad for a webpage with no games!

Our most popular article by far has been Toli’s “f:\guide-to-DYOR”, so be sure to check it out if you haven’t already.

Community Contributions

We recently published our first community article, “Learning Lending”, penned by long-time Byte Mason associate and Sigma Reaper JesseDS! It’s been a massive success and we fully expect to publish more insights from community members going forward.

Reaper Review

Let us now return to Reaper Farm. Everyone’s favorite auto-compounder and yield optimizer. While it’s full of crypts it’s been anything but dead. Development continues to chug along as we continue to develop new strategies, hone existing ones and implement new features. 

Strategy Updates

Our eternal undead yield master, Scully, has been tirelessly tuning his Crypts during this market slump. Conferring with top Mason strategists he has implemented some cutting edge strategies for maximizing yields. Let’s pull back the curtain and take a look at a few of the latest strategies at work.

Scream Leverage Bot

We all know money market APYs are variable. One day you’re getting 12% yield on your USDC deposit and paying 2% to borrow BTC and the next day, your deposit is only yielding 4% and the interest on your BTC loan is 20%. It is madness.

This is especially tricky when it comes to our automated leveraging strategies. How do we ensure that our deposits are returning maximum yield on their leveraged positions when the interest rates fluctuate so often?

That question was plaguing poor Degenicus’ dreams. It turned our beloved strategist into walking husk, wracked with dread that we might not be achieving MAXIMUM yield for our users. Or, it would have done that if he wasn’t clever as hell. Degenicus identified the problem and has crafted a solution. A leverage bot!

The bot reads Scream’s smart contracts and calculates the borrow and lending APYs for current assets and lets the team know when the crypt needs to adjust the leverage. The bot runs every six hours and tells us what the return would be leveraged v unleveraged for each of our managed positions and alerts the devs when a change should be made. The difference in return can be quite substantial! 

At the moment, the leveraging and deleveraging is done manually by the dev team. But, the contracts are all in place to automate the whole process. However, in typical Byte Mason fashion we are proceeding with caution. We will continue to process manually until we are 100% sure the bot is correct all of the time. 

The best part of all this is that while this is currently only in effect for Scream crypts, it can and likely will be applied to our strategies on all lending protocols. Epic win.

As far as we know, we are the only team on FTM running this kind of strategy. Exciting!

BEETS Voting

Bribes and votes. A foul combination. Unless of course, you’re the one receiving the bribes. Reaper Farm is here to guarantee that your palm stays greased during Beethoven-X’s allocations proposals. If you have no idea what I’m talking about when I say Beethoven, bribes and voting, I highly recommend you read this article by Chadly.

Our team cooked up a wonderful strategy for the Fresh Beets crypt that automatically targets the highest bribe and votes accordingly. The strategy then collects your bribe, swaps it for fBEETS and compounds your position. It’s never been easier and more profitable to participate in the democratic process. 

There is one caveat however: during votes, deposits will be locked to prevent the most cunning of users from double dipping. Locking deposits during the vote prevents someone from withdrawing, voting independently and then re-depositing to collect a share of the Crypt’s bribes. 

Insurance

Insurance is a boring and crucial component of any financial strategy. It is an important part of a well rounded risk management strategy. To that end, we have linked up with Insurace to insure (heh) that this tool is available to all of our users. They offer reasonable rates to cover your crypt investment. Check them out here.

UI Updates

Reaper Farm’s UI has become a little unwieldy lately, we admit. The growth of the platform has been magnificent but the front-end has been needing some love. That love is en route! We have implemented a new crypt tagging system to make it easier to browse and compare the types of crypts you’re interested in. We have also integrated Learn links into each Crypt’s more info page. Read more about the tagging system here or in Reaper Farm’s official docs. If you have any questions or feedback on the tags, stop by our discord and let us know!

Stats

Our TVL has hit a slump which is to be expected considering the whole market also hit a slump. We are holding strong just below $140MM and our active users are holding steady. A good sign for these market conditions.

Reliquary Update

Our work on the Reliquary continues! We’ve come across a few soft vulnerabilities that would allow some users to game the system and have had to restructure how the Reliquary will work. The basics are all the same! It will solve all the same issues. But now, instead of a gradual rise in emissions as you slide up the curve, we will likely have tranches. A type of step curve. To get to each plateau you will need enough time accrued in your nft and you will need to submit a “level-up” transaction to acquire your new emission level. This will fit seamlessly into the UI for a nice and easy user experience. 

Expect more news over the coming months.

Cursed Circus – NFTs

“When clowns die, they go someplace else. Not quite Hell. Definitely not Heaven. Upon laughing their last, each and every clown goes to the same place. Evil, Nice, Funny, Sad — irrelevant. Their final forever home is The Cursed Circus.“

Reaper Noob has been busy cavorting with ungodly entities, again. This time he’s managed to trap some curs’d clowns on the blockchain for our collective amusement. There’s 2000 of them, each with a biography and net worth. They are almost people! 

Minting is tentatively set to begin May 5th. Keep your eyes on Discord for details, ya joker!

Data

We love data right? After all, the blockchain is just a big ass database. A big database with a whole lot of data. We have been working behind the scenes to give that data the love it deserves. Munchies and our Data Squad have been hard at work creating systems to pull directly from the blockchain things like, historic prices, historic APYs, etc. This will be huge!

With access to this data in an easily manageable format we can assess things like risk, the correlation between assets and so much more.

For you this means even more useful information when making your investment decisions.  

Audits

We are setting up a full on auditing business in the coming months and have already taken on a few clients! Very exciting. There isn’t too much information that we can give away at this point but be ready to start seeing some “Byte Masons Approved” stamps soon.

Partnerships

We Byte Masons love to make friends. 🙂

Granary

If you read my article on the Granary then this section is redundant for you. If you haven’t read my article “You Me and the Granary”, why not? It is short, my man. Real short, my dude. Easily digestible, m’lady. Click on the link already. 

Community

We are going to close out the newsletter with the stuff most important to us Byte Masons: the community. Awwww. We’ve made a lot of changes to the Byte Mason x Reaper Farm Discord since our last newsletter! 

Learn Library

We’ve added a new channel for discussion around the latest Learn articles as well as general goings on in and around crypto. We generally will post anything we come across that we just think is interesting and would like to chat with the community about. Check it out for some more directed conversations about crypto.

Security

In order to secure the server as much as possible we have created a white list of acceptable links. This is our attempt to prevent malicious link spamming. 

Remember, we will never DM you first. I know I’ve done it before, but no more! Always verify who you are interacting with. Never give out private or personal information! The most we will ever ask you for is a transaction hash.

Stats

Our Discord membership is crabbing, much like the market. It’s not a big deal though, 10k is quite a large audience. We’re glad to have you all :-). 

Hit me up on Discord: Corval#1788 or Twitter: @MasonCorval if you have any questions or just want to tell me what you thought. See ya next time!

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