Dear Aqualiens, November has been an eventful month as usual with our whitelist contribution round, tokenomics update, further smart contract improvements and more!
The whitelist round yielded a total of $18,205.79 for the Aqualis operations budget, accounting for roughly 10% of the total allocation.
Despite these results being below the team's initial expectations, in hindsight given the token sale was delayed by over a week due to regulatory requirements and the FTX fiasco happening a few days prior to the sale, we are incredibly thankful to the community for the trust and belief in the Aqualis team.
This actually extends the Aqualis runway by at least another 3 months of development. At this stage, our budget allows Aqualis to comfortably finish the initial release and still have funds remaining for audits.
More information regarding the tokenomics update can be found here, but in summary, the AQL token will undergo a heavily reduced token price, more tokens allocated to the community and less tokens for the team, overall an extremely community oriented update.
This is in fact the second time we have reduced the price of AQL tokens. The first time back in August represented a drop of roughly 37.5% following the bearish sentiment presented by the market. Since then, it is clear with BTC and ETH dropping over 70% since ATH, and many altcoins dropping 80–90%, a 37.5% drop was not cutting it, hence the additional 50% reduction.
In the month of November, the team has focused on the lending platform and the frontend UI.
Due to the Ethereum PoS hardfork, the Rinkeby testnet will be discontinued and our previous frontend infrastructure was also deprecated. As a result, we have had to move all our testing smart contracts to Goerli and move components of our frontend to Infura. Due to this, a lot of additional work was required to simply catch up to where we were before, but we believe our structure now is better than before and more scalable for the future.
Our number one focus throughout November has been the lending smart contract, but unfortunately it is still running behind schedule due to the sheer complexity associated with deploying and testing. In fact, there are about 210 separate smart contracts that need to be deployed. Due to this, we are expecting a delay of around one to two weeks at this stage, but further delays may be possible. Despite these delays, at this stage we are still expecting the completion to be in late December. Implementation of UI will likely extend into early January.
Since the beginning of November, one of our veteran guild members "AngelWithAShotty" has taken on the role as guild manager, which includes coordinating the members of the guild, brawl frays and more. Since then, we have come first in the majority of our brawls and currently on a 4-brawl winning streak! At this rate we will be hitting tier 3 brawls very soon which will significantly increase the SPS rewards for our guild members and put the Aqualis guild on the map!
Furthermore, we are in talks to form more partnerships with Splinterlands related entities, more info on this will be released as details are ironed out.
November has been an eventful month for Aqualis, marked by our whitelist sale and tokenomics update v3. We expect December to be no different with the commencement of our open whitelist sale and scheduled completion of the lending smart contract.
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