Piggy’s Weekly #2–3
Here comes Piggy, where wealth gets wings!
Although the BNB price drops from $370 to $230 within these 2 weeks, the Piggy protocol and PUSD is very stable because of the liquidation mechanism we used. In the other hand, we remind all of the users to keep a safe collateral ratio to avoid the liquidation. It will cause a 9.09% net loss.
We have launched PIGGY/BNB and PUSD/BUSD liquidity provider incentive pool last week and it has locked around more than 1M USD. The APY of the incentive pool is more than 200%.
Piggy’s development team insist to build the better blockchain product.
We have received so many user feedback from the community and we are very appreciated for those feedback. So we have these product updates in these 2 weeks.
DAPP Updates :
1. Redesigned Stability Pool and Stake Pool page to make users’ balance and rewards more clear;
Community feedback to us that they are confusing about decreasing of their deposited PUSD in the stability pool. Because of the liquidation, the PUSD will decrease while the liquidated BNB will increase. The total value will be larger than the initial PUSD. In order to eliminate this problem, we sum up all the tokens belonged to the user.
2. Unified pool names to make user easier to find;
We polish the layout of our Dapp. To make it more professional and easy to read.
3. Added Stability Pool introduction to help user understand how it works.
We got some feedback that most of our users don’t know the mechanism of Stability Pool, so we put a more detailed explanation for that.
4. Adjusted dashboard layouts for users who opened piggy banks;
5. Added more actions on dashboard to make it more convenient;
6. Added quick entry for getting PIGGY and PUSD;
7. Optimized collateral ratio risk-scale and its descriptions to help user‘s piggy bank stay safe.
After Piggy launched, we found that some of our users didn’t realize the liquidation risk. They directly borrow maximum PUSD and keep the CR around 110%. Any deceasing will make the liquidation happen. Then the user will suffer around 9.09% loss. We thought that the problem is caused by us. We should make more clear notice to let any user know that the liquidation risk and they should keep the CR as high as 200%.
8. Added APY display and APY descriptions on pools;
9. Optimized price and APY calculation to make it more reliable;
10. Added descriptions for pool size;
- Improved network switch and wallet connect experience;
- Optimized mobile view for piggy app;
11. Frontend UI updates:
- Improved some details of UI design and text wording;
- Fix some minor bugs;
Website:
- Added stability pool and stake pool APY display on the website;
- Added “Get PIGGY” button on the website;
- Added security monitor section with Certik Security Leaderboard data on the website;
We thought that the most important thing is to keep our users crypto asset safe, we will do the unit test firstly by the developer themself. After that we will have peer review. Which means some developers will help to check the code several times. After unit test and peer review, we will have professional QA to do the final check. After that, we cooperate with 3rd party code audit organization to check the code again.
Certik is very professional and famous code audit service provider. They have served a lot of famous project, such as PancakeSwap. None of their clients are got hacked after their code audit. That’s also why we choose Certik to work with on our code review. We believe that we can together provide a stable and safe service for our users.
Community
BSCDaily.com hosts Piggy Finance: A protocol bringing the maximum possible liquidity for $BNB holders. This AMA helps more people understands and knew PIGGY, bring more attentions to the community.
Check out more AMA information please click here:
We have our latest review from Alexandrus:
https://www.youtube.com/watch?v=4pCin0zIMjg&t=51s&ab_channel=Alexandrus
And we have our latest AMA today with DODO:
Venue: https://t.me/piggyfinanceofficial…
We will talk about:
-Security on BSC
-What’s next for http://Piggy.fi and http://dodoex.io
-Community discussion
Join our community:
- Telegram: Piggy Finance
- Twitter: @Piggy_Fi
- Website: https://piggy.fi
- Discord: https://discord.gg/zdVtvGdy
