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Weft Finance Roadmap

This roadmap outlines our strategic direction for the upcoming months, emphasizing significant milestones that will drive the launch and adoption of Weft. As we embark on this journey alongside our community, we anticipate collaborative efforts that will shape our vision of Decentralized Lending and Borrowing on the Radix DLT.

August 2023: Validator Node Completed

In late August, we initiate our journey by launching our Validator Node on the Radix Public Ledger. As outlined by our tokenomics, we will distribute 20% of WEFT tokens to our Validator node stakers. The validator fee rate will vary from 100% to 1% according to the following schedule:

  • 100% staking fees for the first 6 months after the validator node launch: During this period, stakers will receive 15,000,000 Weft tokens, accounting for 75% of the total tokens allocated for validator node staker airdrop.
  • 25% of staking fees for the subsequent 6 months: Stakers during this period will share the remaining 25% of tokens designated for the validator node staker airdrop, totaling 5,000,000 Weft tokens. This period concludes the airdrops to our node stakers.
  • 1% staking fees after the first 12 months: Following the initial distribution phase, the node fee rate will be set at 1% for the foreseeable future.

Weft validator node details can be found here

September 2023: Alpha Release Completed

In September, we will introduce the Weft Alpha version on RCNet V3 or Stoknet. Early participants can actively engage with the platform and offer valuable feedback to help shape our offerings.

A total of 5,000,000 tokens (5% of the WEFT allocation) will be distributed to community members who contribute essential feedback during the testing phases.

October 2023: Beta Release

Listing and Liquidity Mining Launch (First Half of October) Completed

We initiate the listing process for WEFT tokens and launch liquidity mining. This launch encourages active user participation and fosters ecosystem growth. 20% of WEFT tokens are allocated to incentivize liquidity provision through a liquidity mining program. Specific details will depend on the DEX offerings launched post-Babylon.

Beta Release on Stokenet (Second Half of October) Completed

Following the Babylon launch, we transition to the Weft Beta version on the final iteration of Stoknet. This phase is dedicated to refining the platform based on user feedback, and the distribution of WEFT Tokens through airdrops continues as part of the 5% allocation mentioned earlier.

November 2023: MVP Release

Blueprints Code Audit (Second Half of October) Completed 🛡️

Before the main net launch, we begin the security audit of our Scrypto code base. This audit had been conducted by Pessimistic, a leading security audit firm in the blockchain space.

The security audit was completed on December 8th 2023 with no critical issue found. The report can be found here

Main-net Launch (End of November) Completed 🚀

Following the completion of the audit phase, we proceed with the Mainnet Launch on the Radix Babylon Network. This marks a pivotal milestone as we transition from testing to a fully operational network. More information regarding available features will be provided in the upcoming weeks.

March 2024: Weft Staking on Stokenet

We invite our community to join the Weft staking test phase starting in March 2024. This test period will help validate both the concept and the technical implementation of staking on our platform.

April 2024: Team Allocations Unlocked

In line with our initial commitments, April 10th will see th end of 6 months cliff period and the start of the 12-month linear unlocking of WEFT allocations designated for our core team members.

End of April 2024: Weft Staking on Mainnet

By the end of April 2024, we're excited to launch staking of WEFT token on the Mainnet. This milestone is important for our project as it opens up opportunities for WEFT holders to directly contribute to the platform's stability and benefit from the profits generated on the Weft lending market for now and future application incubated by Weft. This move is our way of acknowledging and rewarding our community's dedication and active participation, ensuring they receive tangible benefits for their support.

Q2 2024: Launch of the WEFT Foundation

We are setting up the Weft Foundation to guide the management of the WEFT token, reflecting our commitment to open and shared governance. This foundation will take care of the WEFT token, sticking to our principles of decentralization and making sure all activities within our ecosystem are fairly regulated. It's not just about overseeing; the foundation will also support and empower the project, keeping everything in line with what our community wants. This means listening to our community members and involving them in key decisions. With this approach, we aim to keep Weft innovative and true to the values it was built on, making sure our projects are well-coordinated and moving forward together.

Q2 2024: Introducing StakeDock - Radix Projects Staking as a Service on Mainnet

Acknowledging the complexities often encountered in staking and token distribution, Weft is set to make a significant contribution to this area in June 2024. Leveraging our extensive experience, we will launch a turnkey staking platform aimed at simplifying the operation for web3 projects, both large and small. This initiative will introduce:

  • An intuitive interface: Making staking accessible to everyone.
  • A simple creation and configuration process: Project holders can set up their staking component in a few clicks, with options for project-specific configurations and visual customization for their and their clients' use.
  • An automatic distribution system: Ensuring smooth, robust and scalable management of deposits and token redistribution among participants.

This platform aims not just to democratize access to staking but also to enrich the Radix ecosystem through increased integration and participation.

Q3 2024: New Interface

With a continuous focus on improving user experience, Weft plans a major interface update by the third quarter of 2024. This renovation effort will primarily target our lending application, aiming to:

  • Offer smoother and more intuitive navigation: Allowing every user to find what they're looking for in just a few clicks.
  • Refined aesthetics: Aligned with the latest web design trends for a pleasant and modern visual experience.
  • Enhanced functionalities: Providing more options and flexibility in managing loans and investments.

Q4 2024: Transition to a DAO

Continuing our commitment to decentralized governance, the last quarter of 2024 will be marked by a strategic evolution: WEFT's transition to a Decentralized Autonomous Organization (DAO). This move will complement the role of the WEFT Foundation by integrating a participatory governance system into our ecosystem. The DAO will serve as a key instrument for certain decision-making processes, relying on proposals, voting, and the active engagement of our community.

Released under the MIT License.