Alvara Product Development Summary
At Alvara, decentralization and innovation drive everything we stand for. Our focus remains steadfast on delivering a platform that becomes the ultimate solution for on-chain fund interaction, introducing pioneering features for creation and management. This week, we’re excited to share our latest achievements, updates, and plans that are driving our vision forward.
TL;DR: Alvara has achieved major development milestones in preparation for mainnet launch. The staking smart contracts have successfully passed internal audit and are in final stages of external review, while the infrastructure is strengthened through a $200k Google Cloud Platform grant. Technical improvements include optimized frontend state management, enhanced transaction handling, and migration to Alchemy. The staking deployment introduces veALVA tokens, powering Alvara’s unique, rewards-driven decentralized platform.
Frontend Updates
Key Achievements:
- Enhanced state management for better performance.
- More reliable transaction feedback for users.
- Improved error handling and user guidance for a smoother experience.
- Optimized staking and withdrawal flows.
- Simplified code structure for easier maintenance and scalability.
Goals (This Week):
- Transition frontend components from CoinGecko to Alchemy.
- Manage data visibility effectively in the production environment.
- Conduct QA testing to ensure socket events reliability.
- Achieve readiness for the staking mainnet launch.
Backend Updates
Key Achievements:
- Conducted a comparative study between CoinGecko and Alchemy APIs.
- Enhanced event triggers, enabling a more responsive frontend.
- Updated the Reward Top-Up functionality to ensure reliability.
Goals (This Week):
- Perform R&D and complete the migration to Alchemy API.
- Implement route protection and streamline APIs by removing redundancies.
- Develop a scheduler and set up automated email notifications.
Blockchain Updates
Key Achievements:
- Completed an internal audit of the staking smart contract.
- Submitted the staking contract for external audit.
- Improved naming conventions, error messages, and event refactoring.
- Updated unit tests to incorporate post-audit changes.
- Enhanced documentation for StakingAlva and VeAlva smart contracts.
Goals (This Week):
- Fix token contract issues preventing BTS creation.
- Address non-essential fixes identified during the internal audit.
- Resolve any bugs or issues flagged during the external audit.
Deployment Updates
Key Achievements:
- Secured access to the Google Cloud Platform (GCP) account.
- Mapped out a detailed production launch plan.
- Created a go-to production checklist.
Goals (This Week):
- Determine GCP’s credit and quota limits to utilize Alvara’s $200k Google Cloud credits, granted under Alvara’s acceptance into the Google Cloud Startup Scheme.
- Compare AWS and GCP for deployment efficiency.
- Enhance security measures and conduct penetration testing.
- Configure environment variables and finalize setup for production environments.
Alvara’s Staking Platform: Empowering Governance and Growth
Alvara’s staking platform goes far beyond a simple rewards mechanism for ALVA holders. It serves as the foundation of our decentralized governance and gauge-weight voting system, the backbone of Alvara’s dynamic and growing ecosystem.
In the lead-up to our full protocol mainnet launch, ALVA holders will soon have the opportunity to stake their ALVA in exchange for veALVA — a vote-escrowed token that drives the rewards flow and fuels the growth of platform-created BTS.
Early stakers will gain access to emissions from the Staking Rewards Vault (SRV), initially supplemented with a large supply of ALVA. Post-mainnet launch, these emissions will transition to being funded by a percentage of platform fees, ensuring long-term sustainability and alignment with our ecosystem’s growth.
We’re nearing the staking mainnet launch, targeting this month, as we finalize core features of the ecosystem. True innovation takes time, and we’re working tirelessly to deliver a secure, user-friendly platform that modernizes and transforms the industry. Thank you for your trust and patience — stay tuned for more updates!
About Alvara Protocol
The Alvara Protocol is a decentralized platform that utilizes the ERC-7621 (Basket Token Standard) to create and manage funds on the blockchain. Alvara offers a comprehensive fund Factory and Marketplace, with a transparent leaderboard showcasing the performance of every BTS created. ALVA and veALVA tokens assume crucial roles in driving the ecosystem’s growth and governance with veALVA holders wielding significant influence over the substantial ALVA reward stream. Removing traditional barriers, Alvara fosters a democratic meritocracy in crypto investing, enabling full lifecycle fund management, from creation to ownership transfer, within its seamless framework.
