Weekly Update #45

Things that happened this week

  • Governance front-end ready.
  • Final governance testnet deployment to be made this coming week.
  • Launchpad frontend almost finished.
  • Launchpad audit submission to be made this coming week.
  • Liquidator bot to be released this coming week with instructions on how to run your own.
  • Front-end bug fixes.
  • Adjusted rewards for lending markets after listening to the community to reduce sell pressure.
  • Working on creating more utility for the SIENNA token.
  • To Improve the SiennaLend UX for new users, a link to the SiennaLend user-guide was added directly to the UI.
  • The launch of governance will include a new SIENNA staking pool with a 21 day unbonding period, reducing the circulating supply of SIENNA significantly and creating less sell pressure. In order to vote and create proposals you will need to be staking your SIENNA tokens in this pool (there is also the possibility of creating SiennaSwap LP and SiennaLend SL reward pools with lock up periods but we want to know what the community thinks of this).

Secret Network Shockwave Alpha Upgrade

The highly anticipated Secret Network Shockwave Alpha upgrade was successfully implemented on May 11th, bringing with it major performance improvements for the network and its dApps, including Sienna Network.

SiennaSwap & SiennaLend Rewards Update

SiennaSwap and SiennaLend rewards were adjusted twice this past week. On May 9th, SiennaLend rewards were lowered and reallocated to the SiennaSwap LP pools in order to lower sell pressure on the SIENNA token. The rewards were adjusted again on May 13th as a result of the Terra LUNA/UST crash—all rewards for sLUNA/sUST LP pairs and lending markets were reallocated to other LP pairs and lending markets.

May 9th Adjustments:
SiennaSwap & SiennaLend LP Rewards Update

May 13th Adjustments:
SiennaSwap & SiennaLend Rewards Update

“What is Sienna?” Article

Check out this overview of the Sienna Network ecosystem, published on May 10th:

What is Sienna?

Twitter Space with the Secret Network and Terra Communities

Following the unfortunate events that transpired with the Terra LUNA/UST ecosystem, Tor Bair from the Secret Foundation hosted a Twitter Space with the Secret Network and Terra communities to talk about how the Secret Network community can help the Terra community rebuild and move forward. Sienna Network participated.