5/18/22 - Index Development Update
As we approach the completion of Polylastic’s first set of crypto indices, we would like to offer a development update to the community. We will review some of the critical components of the index and their current status.
We are happy to relay that the initial smart contracts for the index protocol are currently on testnet and we have made great progress on the frontend and backend development of the index.
To date, we have developed:
- Index basket features
- Index basket contracts
- Dao (Governance) features
- Dao (Governance) contracts
- Wallet connection
- Buying and withdrawing feature
- Tracking features
Wallet connection button for wallet connection
This feature contains a list of every available basket with some informative data points, including:
- Name, Market Cap, Price, Price Change, and Composition
- You can arrange baskets by name (a-z or z-a), Market Cap, Price, Price Change price (low-high or high-low)
- By clicking “x”, you may view all the assets in the basket.
Specific Basket Feature
Each selected basket has a dedicated page that contains more detailed information about the selected basket. Features include:
- Index composition with each asset and price and weight of the assets.
- Graph for baskets performance.
- Your transactions are made with the selected basket.
POLX holders can vote on different items. For example, users may vote on adding/removing assets from the community basket. Users may vote on an ongoing basis, as items to vote on may be added as decided on by the DAO.
There will be two kinds of voting:
- Votes that are initiated by users
- Votes that are initiated by admins.
As an additional layer of security, the index is built in a way that no single wallet or person can make any changes to the indexes singlehandedly. This also applies to the admin-curated indexes. Admins will need to vote also and a consensus must be met to approve the changes.
Example polls that can be initiated by users:
- Asset to include in Community-Decided Index (add token to Community-Decided Index)
- Asset to remove from Community-Decided Index (remove token from Community-Decided Index)
- Community-Decided Index rebalancing period change (change rebalancing period)
- Expiration time on Community Polls (duration of voting)
- Community-Decided Index assets count change (maximum assets in Community Index)
This concludes the May 18th edition of the Polylastic Index Development Update. We hope you are as excited about the notable progress as the Polylastic team is, as we are making good on our word to deliver a truly special line of products to the crypto space. We will continue to keep the community informed as we close in on our targeted timeline for completion.