Portal ($XPTL) Update 23-03-16

First things first: I will be using https://telegra.ph/ as my publishing tool to push out Updates to the Portal community. That doesn't necessarily mean that all the official Portal communication will use it, but I will.

So what's the current state and what's next?

• Swap period is over. It is no longer possible to swap NEB for XPTL. The two markets on Rocketswap DEX decoupled and no arbitrage is possible anymore. We are free now! 🎉
• Swap details: In total 24,373,725 XPTL tokens were minted through the swap which means that 243,737,250 NEB was swapped over (which is roughly 2/3 or NEB supply)
• Portal now has it's own domain https://prtl.finance. It's not yet linked to the website but soon will be.
• We set up our own server to be able to have the frontend and backend under full control.
• The server will soon host the website and an API that will be connected to a custom block service. That API will deliver everything that the website needs and that way the website itself can be as minimal as possible and not need to interface directly with the Lamden blockchain. Custom Block Service was chosen because that way we are not depending on the core development team and their work on the official Block Service and can easily adjust our implementation when needed.
• The Portal team will soon lock the already provided LP in a contract so that it can not be withdrawn until the lock expires and will also lock some of the team funds so that they are gradually released to https://t.me/Duckfever and myself. We will deliver more details about this soon.
• All our smart contracts will be released under a Attribution-NonCommercial 4.0 International license that prevents their use in commercial products. But we are open to license them out if an agreement can be reached.
• Some Portal contracts might have a small fee of about 5 TAU so that if you stake in a vault or use a lending contract you might need to pay a small fee for it. The fee will be sent to the main Portal contract.
• The upcoming XPTL LP farm on Rocketswap DEX will start this week. Details will be shared in the coming days.

Upcoming Products

The Portal project is planning to have the following products available in the near future:

Vaults

There will be different kind of vault contracts that will do different things but we will first release vaults that can be used by other projects to distribute emissions to users in return for locking tokens for a fixed period of time.

We decided to rework this kind of vault contract to make it even more useful for Portal.

Users that want to stake in a vault need to first lock either XPTL or XPTL LP or a combination of both to unlock the possibility to stake in that vault. The more you lock the more you can stake. Then the more you stake, the more emissions you get. Previously the locking of assets meant that the user could stake in as many vaults at the same time as he wanted. Now the locked assets are specifically meant for one vault and the user needs to lock additional XPTL assets in order to stake in another vault at the same time.

vPortal tokens: "vXPTL" is a new token that gets minted whenever a user locks XPTL assets - for example to be able to stake in a vault. To unlock previously locked XPTL assets, the previously minted vXPTL amount needs to be burned. This new token could be staked or used in a farm or be traded and will be incorporated into future products.

Contracts 90% done, 70% tested.

Lending

This contract will allow users to define some amount of some asset to be lent to a taker for a specific time in return for a fixed fee and fixed collateral. If returned in time, taker will pay the fee, return the borrowed asset and get his collateral back. If not payed in time, the maker is able to liquidate the taker, which means that the deposited collateral will be sent to the lender.

We might need the maker and / or taker to lock XPTL assets to be able to use this contract. But this is not fully decided yet.

Contracts 80% done, 60% tested.

Locking Tokens / LP

This is not the contract to lock XPTL assets in order to gain vXPTL but rather a contract that allows projects or individuals to lock their own tokens or LP for either a fixed amount of time or release them gradually over time. Locking assets will allow you to add a widget to your website that shows the total amount locked, which address locked it and when it will be released.

Contracts 60% done, 40% tested.