Well what a week!
The crypto market has taken a big hit this week, BTC has dropped under $28000, ETH has dropped under $1500 and the overall crypto market cap has dropped to the lowest since july 2019.
There are many reasons for this, it's not just crypto either the stock markets around the world are dropping and the global economy has taken a battering. We have world wide supply issues caused by the global lockdowns over the last 2 years, the “Special Military Operation” in Ukraine limiting supplies of oil, gas, wheat, corn, fertilizers amongst other things which inturn has led to massive inflation across the globe. We are also starting to see an increase in interest rates which compounds the problem as peoples loans or mortgage re-paypayments can jump up hundreds of dollars extra per month.
As prices go up people have less disposable income to invest in markets like crypto or stocks and some even need to cash out their investments to pay day to day bills which is why we get a downturn in the markets.
But it's not all doom and gloom ohh no!
It really doesn't matter what the markets do as builders keep on building!
On that note here is what we have been upto this week.
We received some audit feedback at the beginning of the week which suggested that we alter one part of the code to make the contract even more secure. That was worked on during the week and has now been resubmitted for review. Once that is resolved and we receive our full audit report we will start the platform deployment.
The deployment schedule takes a few days as we will need to redeploy our contracts to the BSC Mainnet. We will then need to make sure that everything is still fully functional as we are deploying new contracts to the already existing contract ecosystem. We will also start spinning up our BTC, ETH, BNB Index Vaults as these need some run time before they are fully functional for you to use.
This week we put out our first article explaining what an Index is. This week we covered our BTC indexes, what they are, how they are weighted and how users can benefit from them. It’s Definitely worth checking it out https://fndz.io/btc-index
As always, Thanks for your support!