Hello Warp Community! We would like to welcome you to our first dev log where we recount development activities and share the latest plan towards the launch of Warp V2: The Blacksmith update.
We are getting ready to ship V2, and while the application development work is done, internally, the team continues to carry out code review and testing. Below, we give details on some development of Warp V2, the optimized crypto lending and borrowing future for DeFi.
Internal liquidation bots activated for V2
This week our development team focused on preparing the liquidation bots for the launch of V2. Efficient liquidations are a key component to maintain proper collateralization and health on the platform. We have activated liquidation bots to monitor all open positions within a given contract and liquidate positions if their collateralization ratio, derived from the off-chain information about the price identifier value, drops below a certain threshold. The liquidation script is similar to the bot for Warp v1 that loops through all the accounts to determine underwater ones, then calls the contract with the appropriate addresses to liquidate. A liquidation occurs when the value of one’s borrowed assets (borrowing balance) is greater than one’s borrowing capacity (collateral factor). This occurs when one’s collateral drops in value or when the borrowed asset rises too high in value.
The preparation of the liquidator bots was a key development aspect to allow for the stable launch of V2, the process this week took slightly longer than we expected. All of our liquidator APIs and contracts will be open sourced around the launch of V2 and we welcome and look forward to any technical contributors that are interested in running their own bots to participate for the liquidation fee.
UI bug fixes
The team was also able to work on UI bug fixes and will continue to do so next week. Progress made this week:
- Behavior of depositing and borrowing in a single transaction tested and resolved in UI
- Submit feedback button fixed
- User reported bugs submitted and resolved
The focus of next week will be internally-identified bugs and UI improvements, after which we will be able to commence with a final round of QA and launch.
To join us on our innovative journey, please connect with us through one of the following platforms: