Amasa Product Development Update — 5 September 2022
From Will Birks, Founder and Core Contributor, Amasa
I’m pleased to share the great progress the Amasa Labs dev team has made on the Amasa platform since our last update. We’ve been head down working hard, but I recognise it’s been a while since we last updated the community on Amasa product development. To improve on this, moving forward we will share smaller, more frequent updates so the community can stay more involved in the progress being made.
The web3 space has been through interesting times recently. The market is now well into bear territory, which is an opportunity for committed projects to keep building and breaking new ground. Of course volatile market conditions also impact individuals who use and invest in web3, as well as general engagement with the space. This is why we’re building Amasa — to help people maximise rewards for their web3 participation, and to seize opportunities and manage risk in all market conditions. We have a lean, focused approach to delivering on this mission and plan to be a major player in the web3 space.
Besides the core Amasa dapp development, we’ve been working hard on a web3-focused initiative that will provide value to all projects building ways for people to earn, and to people who want to earn on web3. I look forward to sharing more on that with our community soon.
On to the Amasa product update…
Today I’ll update you on Amasa product development in the following five areas:
- Design User Interface (UI) and Front End
- Smart Contracts and Back End
- Web3 Income Provider and DeFi Integrations (for MVP)
- Testing — Now: Mumbai Testnet > Next: Polygon Mainnet
- What’s Next.
There are a lot of developments since our last update, so I’m keeping this in bullet point format.
1. Design User Interface (UI) and Front End
- Mobile responsive web app screens are now designed. Front end implementation has been scheduled for later stage MVP version.
- MVP desktop UI is designed and front end is connected to smart contract
- Dashboard UI has been updated, is partially complete
- Wallet UI has been updated, is partially complete
- Onboarding UI is complete
- Withdrawals UI has been created, is partially complete.
2. Smart Contracts and Back End
The following MVP contract functions have been completed:
- setAllocation: User account and preferences setup
- payIncome: A web3 income provider can batch-pay users directly for Amasa Combine feature
- checkUpKeep: Connects Chainlink Keepers, enables batch transactions to minimise gas fees in the model
- performUpKeep: Uses Chainlink Keepers to execute batch transactions for Amasa Stabilise and Amplify features — including sending users linked Native Amasa ‘receipt’ tokens
- withdraw: Enables user withdrawals and platform fees.
Integrations with the following platforms and functions have been completed:
- Chainlink Keepers and on-chain token value feeds
- CoinGecko API for currency lookups and conversion functions
- Gnosis Safe secure multi-sig platform revenue wallet to hold platform fees.
Automated fee-taking functions have been built. Fees will be used for:
- Building the Amasa platform and increasing liquidity for integrated tokens
- DAO-oriented treasury for new platform-beneficial initiatives.
The MATIC (Polygon) gas cost model full flow matrix has been created. This provides visibility on anticipated costs throughout the model to optimise reduction of gas fees at all points in the process.
3. Web3 Income Provider and DeFi Integrations (for MVP)
Amasa Amplify and Stabilise function integrations
Note: These options may change subject to a panel advisory+community selection process before public dapp launch.
- USDC and Uniswap/Quickswap: Stabilise function using USDC with automated swaps performed with Uniswap on Mumbai testnet. Mainnet will utilise Quickswap.
- Aave: The Amplify-Conservative (lowest relative risk profile) investment option we are testing in MVP is a USDC staking pool on Aave. We believe Aave is a reliable and secure market leading provider of steady yield.
- Index Coop: The Amplify-Moderate (medium risk profile) investment option we are using in MVP testing is the MVI Metaverse Index token from Index Coop, an initiative of Set Protocol. This token gives the holder spot exposure to a basket of top tier Metaverse focused projects within a single token. For MVP we have aimed to connect to DeFi protocols and products that have led innovation in different directions, to showcase a range of possibilities for the Amasa platform. Connecting users to strong options across DeFi at any given time in the market is a key Amasa value proposition.
- To keep gas costs low, Amasa is building on Polygon, which means all integrations on the DeFi side should also be on Polygon. In testing on Mumbai, we’ve been restricted to integrating with DeFi platforms that can be connected to and tested in testnet. After this stage is complete, we will include other high quality options like Enzyme Protocol in future closed alpha testing on mainnet.
Web3 Income Provider (W3IP) integrations:
- After closed internal alpha testing on Mumbai testnet is completed, testing on Polygon mainnet will involve select web3 income-providing platforms (W3IPs). Integration with W3IPs is essential to Amasa. As such, we have developed a purposefully simple and easy method for any W3IP to integrate regardless of their current method of paying users earning on their platform. By working with multiple W3IPs in feedback loops on MVP development we aim to make integration with Amasa something any platform can do with minimal dev and management effort.
- Documentation and walkthroughs to enable the above are partially complete and will be iteratively developed further as we start private testing phases with W3IPs.
- We are also working on project-to-project value loop initiatives to incentivise W3IPs and their communities to connect to Amasa. This is of course further to the strong intrinsic benefit Amasa provides, which is to make it easier for anyone earning on web3 to combine and amplify the value of their earnings, without restriction.
4. Testing — Now: Mumbai Testnet > Next: Polygon Mainnet
- We’ve been performing ongoing QA focus and regression testing for the past several two-week sprints
- Full flow end-to-end testing is currently in process on Mumbai testnet within a closed dev environment
- Bug fixes and code refinement and improvement is ongoing
- Front end scale tests are ongoing
- Following completion of the above, our devs will deploy to Polygon mainnet for further closed alpha testing.
5. What’s Next
- Complete Mumbai testing stage to acceptance criteria
- Complete W3IP integration walk-throughs and documentation
- Coordinate towards W3IP mainnet private alpha test stage with selected W3IP projects
- Review gas fee matrix
- Deploy dapp to mainnet for ongoing FE and integrations, development and testing stages
- More work on governance tooling and implementation as we get closer to private and then public beta stages. This is a highly important area for Amasa — measured decentralisation of the project following current best practice examples is our aim. We want to optimise building a great working product that will deliver value to our community while moving further along a decentralisation path for all areas of the project.
- More frequent product updates for the community moving forward, including frequent brief/single-focus updates and regular build wrap-ups.
— — —
With a number of key products approaching public release, it really is exciting times for Amasa and our fantastic community. Thank you as always to the great people who share our vision and belief in this project.
Will Birks, Founder and Core Contributor, Amasa
Amasa’s mission is to empower people everywhere to capture and capitalise on the wealth building potential of web3 income streams and DeFi. We are working to inspire mass adoption of web3 platforms that reward participants for their gaming, time, energy, attention, content, data and interactions.
We’re doing that by building the world’s first web3 income stream investment app. The Amasa app will make web3 income streams easy to capture, combine and access as a stabilised income, then amplify through user-selected DeFi investment options.
Combine. Stabilise. Amplify. All in the background of everyday life.
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