Clone Protocol: A Month-in-Review, November 2023
In November 2023, We at Clone Protocol have made incredible progress toward making our vision a reality. This month-in-review delves into the latest updates and progress within the Clone ecosystem, highlighting the success of our Devnet product, development updates from the team, and the vibrant activities within our community. Join us as we reflect on a month filled with innovation and growth.
Devnet Progress
During our journey on Devnet, We have learned a lot to improve our two core frontends: Clone Markets interface and Clone Liquidity interface. Clone Liquidity introduces the innovative concept of ‘comets’ — unique liquidity positions that form the backbone of our protocol. Thanks to the novel Comet Liquidity System, Clone Liquidity enhances capital efficiency and scalability for cloned assets (clAssets) on our platform. Meanwhile, Clone Markets offers a sleek and user-friendly interface for trading clAssets. Its intuitive design simplifies trading and portfolio management, making it a powerful tool for both new and experienced traders.
Clone Liquidity Devnet Update
In the Clone Liquidity devnet frontend, we’ve recently implemented updates that have significantly enhanced user experience. These include more flexible management of comet positions and a more visually appealing UI update. Since we launched Clone Liquidity we have seen an incredible 428 unique users initialize accounts, 261 of which actively engaged in editing their comet liquidity position.
Clone Markets Devnet Update
On the Clone Markets devnet frontend, a major development has been making the platform mobile-compatible, which has significantly enhanced user accessibility. Clone Markets experienced similar success to Clone Liquidity, with 352 unique users having executed trades on the platform. Since all this usage is on Devnet, it’s been entirely from members of our community interested in learning more about our product, giving us feedback, or just checking in on our progress. We cannot thank our community of early Cloners enough!
Behind The Scenes: Development Update
In this section, we take a closer look at the diligent efforts of our development team over the past month, focusing on the technological advancements and remaining milestones on our path toward mainnet launch. Join us as we delve into the progress and challenges that shape the future of Clone Protocol.
Backend Architecture For Mainnet
A critical focus in November has been developing our backend and bot infrastructure, essential for a robust mainnet launch. Central to our strategy is ensuring a healthy ecosystem, for which we’re automating several key systems:
- Crosschain Arbitrage Bot: Our protocol’s reliance on the Hybrid Collateral Model necessitates constant arbitrage to maintain asset price pegs. We’re crafting a bot for this purpose, ensuring our prices remain accurately pegged.
- Liquidation Bot: To keep clAssets fully collateralized, we’re implementing a bot responsible for liquidating unhealthy liquidity/borrow positions, a fundamental aspect of our ecosystem’s stability.
- Comet Manager Bot: Given our role in managing initial liquidity for newly cloned assets at launch, we’re also developing a bot to allocate liquidity optimally, promoting ecosystem health.
These developments, ongoing throughout November, are set for further refinement and testing in December.
Community Growth
November has been a revolutionary month for Clone Protocol in terms of community engagement. We’ve significantly ramped up our community events, focusing on giving early Cloners a chance to contribute to our mission.
MemeFest Friday
November witnessed the birth of our MemeFest Friday competition, a creative showdown that brought out the wittiest and most inventive side of our community. Held twice during the month, the event saw an overwhelming response with over 50 meme submissions, showcasing the humor and creativity of our community.
Clone Connect Community Calls
Fridays at 10 AM EST, our community gathers on Discord for Clone Connect. These sessions often feature interviews with our partners to help educate our community on Solana DeFi and Clone’s integrations. In November we were joined by Squads, deBridge, and Switchboard, and we’re excited to welcome SolanaFM on December 15th 2023. Each session concludes with a Q&A, offering community members a chance to engage and ask questions, fostering a deeper connection between the Clone core team and our incredible community.
The Contributor Program
Launched just before November, our Contributor Program has been a thriving platform for community engagement, incentivizing users to contribute their ideas and creative content. This initiative has seen dozens of exceptional submissions, with the community being rewarded nearly 1000 USDC so far. The competition closes on December 15th, 2023. If you’re reading this before the deadline, don’t miss your chance to make your mark and contribute to the Clone Protocol ecosystem.
Looking Ahead: The Journey Continues
November was a thrilling chapter in Clone Protocol’s journey, filled with significant progress and vibrant community engagement. However, the excitement doesn’t end here. December promises new community campaigns and monumental steps towards our mainnet launch. To stay updated and be a part of our evolving story, follow us on Twitter and join our Discord community below.
The community of Cloners is quickly growing and we would love to have you join us.
Website: https://clone.so/
Discord: https://discord.gg/BXAeVWdmmD
Twitter: https://twitter.com/CloneProtocol
