TotemFi’s Month in Review; Mainnet Edition

In arguably the most exciting time for TotemFi since the project’s inception itself, we want to provide our community with an update of what’s been occurring at Totem HQ in and around the launch of our Maple Mainnet! You know what that means — it’s time for another quintessential TotemFi Week in Review!

Exec summary:

  • Mainnet Launch; The headline news of this month was that we launched our Open Beta prediction markets platform! Much more info on this below. If you want to stake in the current pool — click here! https://app.totemfi.com/
  • Development update; Aside from the launch itself, we’ve been busy adding and improving to our Open Beta platform, including improving our predictor panel, updating our backend performance, and adding additional token transfer functionalities
  • Mooncaster; August was a strong month for our Mooncaster pre-IDO allocation prediction events, with a great strategic partnership with Privi — a next generation, decentralised social networking project — which saw us offer allocations in two of their seminal token launches
  • Marketing; A very busy month on the marketing front; it started off with the conclusion of our #Road2Mainnet community prediction giveaway series, and ended with a lot of tier 1 media coverage around the launch of our platform

Mainnet Launch

August saw the conclusion of our #Road2Mainnet, with the launch of the TotemFi platform — the world’s first non-punitive, staking based prediction markets platform to offer rewards in BTC as well as native TOTM tokens!

The launch represents the culmination and attainment of the vision laid out by our Co Founders; to provide non-punitive, staking-based prediction markets to the crypto community. For an overview of how the platform works, please see the video we created:

As part of our Mainnet launch, we partnered with leading Data Oracle Chainlink to integrate their Price Feeds on the BSC mainnet. By integrating Chainlink’s industry-leading decentralized oracle network, TotemFi has access to high-quality, tamper-proof price feeds needed to assess which of our users have made the most accurate predictions in the future price of BTC.

Our Co Founders joined the Chainlink team in their YouTube for a live AMA, which gives a lot more details around the benefits that this partnership will provide. You can watch the full interview here:

For more info on this invaluable partnership, please see here:

https://totemfi.medium.com/totemfi-integrates-chainlink-price-feed-to-secure-btc-price-data-5b502e8768b8

Development

Of course, the main development news of the month centered around launching our platform; to accomplish this, our tech team worked round the clock to get the platform up and running, and ensure that our users would be able to Stake, Predict and Grow on a fund, engaging and safe platform.

The week leading up to the launch saw a lot of activity on the development front to get everything up and running smoothly for our warriors, so to highlight the great work of our tech team we pulled together the following summary of our week building up to launch:

  • Predictor panel updated to show real time TOTM price to users
  • Minor issues in the panel were fixed, including:
  • Maximum and minimum amount validation for staking
  • Calculated reward amounts added for TOTM and BTC
  • Time counter optimised for “maturity” and “time left” columns
  • Off Chain BSC mainnet contracts updated
  • TOTM token manager was developed, tested and deployed
  • Functionality added in which allows for transferring ownership of TOTM tokens from manager to other accounts
  • BSC contract upgraded on the TOTM subgraph

Our tech team’s work is far from done though, and we’re committed to keep building, improving, and optimising our platform. Since launch, improving our predictor panel, updating our backend performance, and adding additional token transfer functionalities. Recently, there were also some very minor issues with the TotemFi subgraph, specifically in claiming tokens and viewing the active staking pool. This was just a small frontend issue, and didn’t affect the smart contracts or user tokens at all. Our full tech team worked to resolve this, and managed to fix the problem in just 1hr 20mins — our warriors were back to staking in no time!

Despite all the great progress which has been made, this is just the start of the TotemFi development, and we’ve got a lot of big tech plans in the works — watch this space!

Marketing

August was also an incredibly strong month on the marketing front; our Mainnet launch caught the attention of a lot of prominent media outlets, and TotemFi received some very strong media coverage.

Several outlets including BTCManager and Hackernoon published an article examining the most prominent and promising prediction market protocols for DeFi summer 2021. You can find those linked below:

https://btcmanager.com/prediction-protocols-defi-2021/

https://hackernoon.com/the-hottest-prediction-protocols-for-defi-summer-2021

Our platform launch also caught the attention of the Tier 1 media, with articles published in the likes of Yahoo Finance and Business Insider — seems like TotemFi isn’t just making waves in the DeFi space, but the TradFi space as well!

Mooncaster

Alongside all the great work on the launch side of things, August also saw a lot of activity around our Mooncaster pre-IDO allocation prediction events. We partnered with Privi — a new, decentralised, blockchain based social metaverse for content creators. Privi was built for the backbone of any social media platform; the creators. Traditional social media platforms not only line their pockets with the content you create, but they also take full control of your creations.

Our strategic partnership allowed us to secure prelaunch token allocations for our community in two of their tokens; $TRAX & $PIX. The former models itself as a decentralised Spotify, and the latter as a decentralised Instagram. The video below gives an overview of how sleek, innovative and groundbreaking their products are:

To The Moon

Thank you all very much for reading our Mainnet month in review! We’ve said it before, but it’s been such an incredible journey getting to this point, and it’s been our amazing community being with us every step along the way which has made it so worthwhile. Even though our platform has launched, this is still very much just the start of the TotemFi story — we can’t wait to show you all what we have planned!

Big love,

Jol, Haz, and the whole Totem Team

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Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

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TotemFi

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Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

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