Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.
This week we have continued to work on the Staking Rewards bug which was causing some issues when users chose to Mint and Stake on a position they were already staking.
Local testing is now complete and we’re going through the same test scripts on Rinkeby to ensure everything is running as smoothly as you have come to expect from the product.
Once that testing is complete, the changes will be pushed to production and we’ll follow up with announcements on Twitter and Discord as well as any tutorials or guides to cover the steps you need to take to move your position across.
For those of you that were staking you will still receive the fees that were accumulated during the time the interface was paused. We are still unsure if the users that were affected will be automatically allocated the fee’s, however, if not we will be providing manual distributions for that period over the next couple of weeks.
Since last week’s update the number of NFTs in the vaults has increased by more than one-thousand up to 5,502.
In that time the value of almost all of the NFTs have been increasing as well and the Total Value Locked (TVL) has grown to $31.17M — that’s an increase of $12.8M over the past week.
Unwinding PUNK D2 Balancer Pool
As part of the switch from V1 -> V2 the product will no longer support the idea of D2/combined vaults. There was only one of these created, the PUNK vault that was made up from the five underlying Crypto Punk vaults (Basic, Attr-4, Attr-5, Female, Zombie).
If you own any of the PUNK tokens you can follow this guide on how to unwind, claim, and migrate your tokens across to V2. You will be able to migrate ⅗ of the underlying tokens across to the V2 Punk token, and the other 2 (Zombie and Attr-5) plan to be redeemable by the end of August.
Platform Performance improvements
Performance improvements have continued to be made this week as we’ve pushed the Google Web Vitals (mostly) into the green. Due to the Web3 world there’s a lot of JS that needs to run for the site to function the way it does so we’re working on pushing that Total Blocking Time down.
We are also working on replatforming across to Vercel which provides improved hosting capabilities over Netlify purely because they also build Next.js which is the framework behind the website.
This change is going to allow us to statically deliver more of the pages, which for you means a faster and better experience.
Did you say Vault Statistics?
A common request that we see in the Discord is for folks to see a historic price value of the vault token over time. Along with a number of other statistics, we’ve been working on getting some stat put together that showcases a number of relevant vault statistics.
The stats will include
- Historical token price (shown below)
- Current token price
- Number of token holders
- Top 10 vault token holders
- Lifetime fees generated
- Historical Mint/Redeem/Target plus vault total
- Historical Fee accumulation (broken down into mint/target redeems)
We have the first set of reports which we are cross referencing to ensure the data is correct, but if there’s something more that you would find interesting to include across all vaults please let us know on https://ideas.nftx.org.
On the governance call this month our Product Lead, Nick, takes us through the plans for the NFTX product for the rest of the year now that V2 has been delivered.
If you missed out on the NFTX Governance call last week you can catch up with this post from our YouTube channel.
- 0:00 — Welcome from Finesseboi
- 0:50 — Introduction from Alex
- 2:18 — Week in review from Javery
- 6:46 — NFTX Upcoming Product Roadmap from Nick
- 18:40 — Q&A
Our next call will be on 1st of September at 16:00 UTC.
This week in NFTs
London Fork + POB $LONDON Gift
This week we saw the Ethereum London Fork with EIP 1559 being officially enabled. The NFTX UK team were meeting up in London for the first time to discuss the next steps for NFTX (see the governance call details above) and also managed to find some tethered wifi for long enough to mint some of the POB $LONDON Gift NFTs.
The 7d price for NFTX is up by 24.9%, sitting at $216.43 mark as of Tuesday afternoon.
That's all for this week. If you have any questions, come and join in on the Discord channel.