It has been a year since the first cube was born on the Furucombo platform, and we are very proud to share what we have accomplished so far:
📈 captured $4 billion+ in trading volume; 👤 onboarded 35,000+ users; 💡 inspired 1000+ strategies; 🔥 saved users’ $26,000+ in gas fees; 🥇 brought $100,000+ flashloan service fees to Aave; 💜 kicked off the first steps towards Furucombo V2 with the COMBO token.
The core value of Furucombo is to empower our users to optimize and enhance their DeFi strategy with ease, and without knowledge of coding. Given the nature of Furucombo, there are numerous combinations and strategies you can make, and the only limitation is your imagination.
Since we shared our vision in “The Road to Becoming a Super-Aggregator”, our community is super excited about the upcoming Furucombo V2. Today we are pleased to share our roadmap with you as we move into the second year of Furucombo.
Furucombo V2 aims to form a value ecosystem as a super-aggregator with three important participants: builders, degens, and novice users. To minimize the barrier for degens and novice users to manage their DeFi strategy and portfolios, we plan to onboard more builders to Furucombo and align the interests of our builders with the ecosystem.
Sounds good, but how? Well, given everything is transparent on the blockchain, it seems like a natural fit to open source our smart contracts and let external developers build their own cubes. They should be the best fit, especially since they are the ones who know their own protocols the best.
With this idea in mind, we have invited Sushiswap and B.Protocol to develop their own cubes as a trial run. These features are under audits and we aim to release them in May. In the future, there will be a formal process and guideline for every external builder to follow, and our decentralized community will decide which protocols to list next.
But how to prevent fraud? The COMBO token comes to the spotlight.
When external builders build their own cube, they also need to stake COMBO tokens into an insurance reserve. Our decentralized community can then decide whether the cube should be listed, and they can also decide the listing requirements, the insurance details, the incentive programs, and many other parameters within the Furucombo ecosystem.
There are so many exciting releases coming in the near future to make the Furucombo V2 complete. Here is the sneak peek of our progress so far:
Furucombo overall structure
Sushiswap swapping and liquidity pools
B.Protocol vault management cubes
Aave flashloan, lending, and borrowing functions
A joint audit with Gelato Network, the automation protocol
Layered Security: To mitigate the risk of the fast-growing DeFi space, we are developing several safety procedures other than audits, including a suspicious transaction monitoring system, and an encrypted transaction process flow. Beyond that, there will be an insurance reserve as a further security measure. Especially when external builders develop their customized cubes, it is crucial to eliminate potential fraud. The insurance reserve will be composed with the revenue generated by Furucombo, and the COMBO tokens staked by external builders.
Revenue Stream: Currently, Furucombo does not charge fees from users. The entire platform is free. However, to keep the platform running and fuel the insurance reserve, Furucombo will start charging fees by June 2021 with 0.2% of initial funds per transaction. The fees collected will be distributed amongst the insurance reserve, the company reserve, and our decentralized community. Furthermore, some of the current and new features will become premium features, which would only be accessible with the use of COMBO starting from June as well.
On-chain Governance: To transition the ownership of Furucombo, we are preparing the governance portal to empower our decentralized community. The decentralized community will then be able to protect the integrity of Furucombo through research, discussion, and on-chain voting.
Crypto Pooling: As a DeFi aggregator, it’s easy to see the flow of funds and overall DeFi movement by tracking the transactions on the Furucombo proxy contract. Instead of just following those transactions, we have outlined the pool combo system to allow users to invest in these strategies directly. The pool combo system can also let degens become fund managers to maximize profits as a whole.
Layer 1&2 Expansion and the Cross-Chain Bridge: Given the high gas consumption on Ethereum and the developing speed of layer 2 and other layer 1 solutions, we will do some in-depth research and expand Furucombo this year. There is a great opportunity to explore how Furucombo can be brought to a place where gas costs are negligible. And it is the foundation for our next step towards a cross-chain DeFi aggregator.
Shout out to the community to join us on the forum and tell us what you want to see next for everything related to Furucombo. No matter how crazy your idea is, we want you to share it with us. Let’s build together! ;)