Dear Raze Network Community,
We want to begin this announcement by thanking you all for your ongoing support. Despite the general macro crypto market trend, we have been making great progress in growing our partner ecosystem and community, while keeping our heads down focusing on the development of the Raze Network.
As we all know, the past month brought some major volatility that has likely made even the most faithful in the broader crypto community wonder whether the market will recover from the drawdown, or if we are back in a bear market.
Historically, both explosive growth and volatility are etched into the identity of the cryptocurrency market. Many factors contributed to this recent major correction, with multiple government warnings for increased regulation and market-moving tweets from some of the richest men in the world. These factors, among others, only added fuel to the ongoing market oscillation we have seen.
No matter what the market dictates, Raze Network is committed to building what we set out to build, a world where DeFi users can operate in a truly private and anonymized way, far from the watchful eyes of actors who wish to track their every move.
The Monthly Update below will summarize the work we have accomplished in May and touch on the latest human resource and technical developments.
💻 Raze Network Testnet Update
Over the past few months, we have seen Ethereum and Binance Smart Chain become the target for DeFi protocol attacks and rug pulls, with multiple projects falling victim to hackers exploiting weak system design and code bugs using flash loans.
It suggested that “projects should work with their audit companies to do another health check”, and “if they are forked projects, double and triple-check changes from the original version”.
With market uncertainty and incidents causing manipulation, Raze Network made the choice to delay the planned May Testnet launch to take extra care in ensuring the security of the project.
With the current predatory risk plaguing the industry, we felt it was necessary to take extra care and not rush. We apologize for the lack of communication to the community for the delay, but we’ve been silently doing what we set out to do: building the future of privacy for the broader DeFi space.
Current progress for Testnet:
- Deployment of mint, transfer and redeem contracts on Ethereum testing is near completion.
- Deployment of the respective front-end and client module testing is completed.
- Development of front-end UI and client modules completed.
- Conducting final security checks.
- Finalizing the integration of our user interface and client modules.
- Updating the community when we have a set date for Testnet — we’re aiming for late June
We’re looking forward to bringing the Raze protocol online very soon.
💪 Talent and Recruitment
We’re excited to announce that following our recruitment post in early May, Raze Network has welcomed two new faces to the team. We have found both a talented Business Development Director and Business Development Manager, who have a decade of experience leading and building successful start-ups between them.
We’re still on the lookout for a Director of Marketing to lead marketing strategy, branding, and communications for our growing ecosystem of partners and community, as well as executing on this strategic vision. The right candidate will drive strong growth and solidify a distinct brand for a unique ecosystem.
If you think you are the right fit or know someone perfect for the role, please contact us via email (firstname.lastname@example.org), or reach out to Raze official admins via telegram with resume and personal statement attached.
🌏 Raze Network Ecosystem Expansion
Raze Network’s Partner Ecosystem has continued to expand. As we approach Testnet, we are aiming to build a more comprehensive ecosystem that encompasses crypto protocols, infrastructure, middleware, and applications.
We believe this space is starting to realize how powerful Raze Network’s technology is and how we will greatly complement their networks and empower users to take back control of their data. We’re looking forward to seeing this vision come to fruition.
Raze Network & MANTRA DAO Staking Campaign Update
RAZE naked staking has 250k USD in rewards, which will last for 23 more days at the current amount of $RAZE staked.
Specific stats as below:
- 477 active users currently
- 6.95M RAZE staked in total
- 1.8M USD at current $RAZE token level
- 64% APR
Stake your tokens at http://app.mantradao.com early to earn a higher percentage APR before the pool gets filled up!
To Stake $RAZE, please Click here to go to Mantradao App.
RAZE LP Reward Campaign
In May, we introduced the RAZE LP Reward Campaign with our partner MANTRA DAO, offering users who added liquidity to the ETH/RAZE pair to earn RAZE tokens as rewards. By farming $RAZE, holders earned passive income and continued boosting the network’s value.
- The RAZE LP Reward campaign lasted for one month, and ended June 9th at 10am UTC
Raze Partnership Recap in May
UnoRe is one of our partners that aims to become the world’s first decentralized reinsurance platform powered by Polkadot.
Risk Trading in insurance postulates great data handling and settlement capabilities. The UnoRe Platform, built on Polkadot & Web 3.0, can take advantage of the privacy protocol Raze Network builds to offer additional data protection to its insurance traders.
StackOS is an open protocol that allows individuals to collectively offer a decentralized cloud where people can deploy any full-stack application, decentralized app, blockchain privateness, and mainnet nodes.
StackOs will deploy Raze Network’s website, and make Raze nodes deployable on the StackOS decentralized cloud. In addition to this, Raze Network will also be integrated as a support protocol to offer completely anonymous transactions.
Polkarare, by taking advantage of NFT’s provable scarcity, transferability, and increasing popularity, aims to build a web3 economy for unique and scarce digital assets, and also allows individual users or any entity to create, and exchange NFTs.
We believe, together with Polkarare, we can provide an additional privacy protection layer on NFT and our partner’s platform.
UniFarm, a staking solution where the best projects in the DeFi space come together to provide value to investors. And we were officially a part of the launch of UniFarm Cohort 9 that went live on May 25, 2021
We at Raze Network, believe Dot Finance will help the adoption of not just the Polkadot framework but the many new DeFi products and services that Dot Finance is building on top of Polkadot’s safe, secure, and resilient architecture.
DIA (Decentralised Information Asset) is an open-source oracle platform that enables market actors to source, supply, and share trustable data.
Through this partnership, Raze Network will integrate DIA’s data capabilities to enable us to anonymize assets such as Crypto, DeFi Tokens, Fiat, and Commodities to execute privacy-preserving transactions of the likes of trading, lending, staking, or insurance, among others.
About Raze Network
Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zkSNARKs to the Zether framework to build a second-layer decentralized anonymous module. It will then be imported as a substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.