Weekly Update #46

Things that happened this week

  • More work on launchpad front-end.
  • More work to governance front-end.
  • Governance expected to undergo final testing this coming week before mainnet launch.
  • Launchpad audit submission expected end of month.
  • Liquidation bot published for SiennaLend.

SiennaLend sUST/sLUNA Markets Postmortem

  • During the Terra-LUNA collapse, the Band Protocol oracles used for the sUST/sLUNA SiennaLend markets stopped suddenly.
  • SiennaLend faced rapidly increasing bad debt as a result of the Terra collapse.
  • The sUST/sLUNA bad debt was covered by Sienna Network core contributors.

“With UST losing its peg and the LUNA price dipping to oblivion, the whole Cosmos DeFi ecosystem suffered from the ensuing snowball effect. SiennaLend faced issues with rapidly increasing bad debt, which we managed to limit so that exposed users do not suffer losses.”

Read in full below:

SiennaLend Update: sUST/sLUNA Markets Postmortem + Liquidation Bot is Live

AMA with V-IRL

The AMA with the V-IRL team took place on May 17 in the Sienna Network Discord. V-IRL is an innovative project that bridges digital NFTs with redeemable physical merchandise. The first V-IRL NFT drop “Genesis Mint” is happening on May 29. Follow V-IRL on Twitter to stay updated on new developments.

Sienna Discuss #25: SIENNA Value Accrual

Sienna Discuss sessions are a way for the Sienna community to provide feedback to the Sienna core contributors, and be directly involved in the decision making process. Sienna Discuss #25 took place on May 19 in the Sienna Network Telegram. The topic was: Brainstorm ideas for SIENNA value accrual mechanisms. Please join future Sienna Discuss sessions, we ❤️ community feedback!

Secret Steampunks Whitelist Giveaway Contest

In collaboration with Secret Steampunks NFTs, we are giving away 10 WL spots for their upcoming mint. To participate, please follow the steps outlined in the Twitter post below:

Twitter Steampunks

Sienna Community Love

Check out this beautifully written blog post+infographic about Sienna Network, written by