Swivel Community Update 1: Testnet & Grants Wrap-up
Imminent Testnet Release Announcement & Gitcoin Grants Round 9 Review
Its been a full year since we initially started working on Swivel, then DefiHedge, at ETHDenver2020. Since then our team has grown and so has our hearts….
Ok in all seriousness, while we have been amazed by the support we have received so far, it’s hard to distract from our excitement as we inch closer to our mainnet release.
Swivel v1 Testnet
With our exchange/relayer integration complete and private testnet continuing without issues, we will soon be bringing Swivel out of the dark with the release of our public testnet, leaving it to the community to ensure they provide us the important feedback necessary to launch a product that is useable for all parties, not just institutions.
The specifics of our testnet participation & feedback incentives are yet to be released. However, we’re sure the community will enjoy what we have planned and the wait won’t be long! 😉
Keep an eye out over the next few days for our imminent testnet release in addition to explanations and walkthroughs of our testnet and v1 implementations!
Gitcoin Grants Round 9
With round 9's resolution around the corner, would like to take a moment to thank the community members that contributed to our Gitcoin grant in the most recent round. At this point with ~1500 contributions, we have received the most of any DeFi app, hopefully a sign of things to come for our community!
We initially created our grant during Gitcoin Kernel’s Genesis Cohort as is recommended for any cohort members, and had left it up without much consideration of any future funding.
Expectations were low.
In Gitcoin’s previous grants round, Swivel only received ~$20 in contributions and before that our founder’s previous project, Nescience, only saw $5 contributed over its lifetime.
This only left us even more shocked to wake up one day to a message asking us what we planned to do with the ~$2000 Swivel had at that point accumulated.
We immediately knew that the much of these funds would be going directly back to the broader community through our own grant contributions.
However, given the great input and support we’ve received so far, it only makes sense to commit any remaining funds towards incentivizing community testnet usage & feedback as well as valuable community growth.
As we move forward, expect regular community updates on the status of the our community grants, as well as an imminent update on our planned testnet feedback incentives.
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