Greetings, numans! We are working hard on Vault 2.0 and will be completing the backend development within the coming days. We are adjusting our overall development schedule a bit, since it will expedite completion of the entire protocol—including synthetics—and enhance security measures. Thank you for your continued support throughout this process: we have a lot of exciting developments coming!

Old vs. New Schedule

Comparing our previous schedule with the new one—previously, our plan was to complete the Vault 2.0 upgrades, conduct security checks, and then release Vault 2.0. After this was completed, we expected to then move to finishing the rest of the synthetics requirements and then do another audit before releasing the complete protocol. Instead, our revised approach involves continuing development to finish the whole protocol at once—including synthetics and Vault 2.0. Once everything is complete, we will then conduct an audit of the entirety of the codebase at once. This will allow us to conduct a security review of the entire system before we push Vault 2.0. Further, since audits can be complicated and the timelines vary a lot, it will be more efficient overall to audit everything at once. However, the releases will still be staggered: we expect to release Vault 2.0 before we release synthetics.

So, what’s the timeline?

Up to this point, we have completed the first vault, the synthetics burn & mint mechanism, synthetic swaps, and we are nearing completion of Vault 2.0. The primary remaining requirements are LP staking and single-staking nuMoney. We anticipate these contracts to take a few weeks to complete, and then we will conduct our security audit. As usual, we cannot give hard deadlines, since audit timelines can vary a lot. For reference, our first audit of the vault took about two weeks between the initial review and the fixes we implemented. We still expect the entire protocol to be released Q2, and we are working around-the-clock to achieve this goal. With a dedicated and diligent development team, we are steadfast in delivering a much-needed protocol with security as our top priority.

What else is going on?

Though our main priority has been completing the contracts for Vault 2.0, we have also been working on the frontend design and development of our app. Our first release for the vault was meant to be simple, since our primary goal was merely transitioning to backing NUMA with rETH. Our subsequent releases will encompass the various functions of the complete protocol: dashboard, vault, lending, leverage, synthetics burning & minting, synthetic swaps, LP staking, and single-staking. We’re in the process of designing and building out the rest of these functions at the same time that we are developing the backend.

In the background, we continue to pursue partnership opportunities that will have a meaningful impact on the success of the numa protocol. As we get closer to Vault 2.0 launch and synthetics launch, our marketing efforts will increase substantially, since we will have an essential protocol ready to go. If you didn’t get a chance already, we highly recommend listening to Drew’s recent appearance on the Under the Radar Spaces on X: he provides a lot of great explanation on the mechanics of the protocol and our vision for the future. And lastly, make sure to join our Telegram group to keep up with all the latest information.