With 2020 behind us, the DMM team is excited to present to the community the R&D roadmap for this year. In an effort to provide greater transparency and allow the community to understand the direction in which the protocol is heading. Moreover, making our plan available allows us to receive critical feedback from the community to be able to better ebb and flow with the changes to the broader ecosystem throughout the course of the year.
Our high-level plan with the design of this roadmap is to focus on our protocol and products’ core competencies as well as what is needed to streamline growth. With constant developments and excitement in the industry, it is easy to get sidetracked by external factors and trends. Rather, we want to focus solely on what is important for DMM to grow and to do those things well. We found that some of DMM’s biggest hinderances to faster growth are the amount of transparency in the real-world asset side of the protocol, the amount of educational material available for those to better understand what we do and why it is significant, and adding more safeguards to the system that make it increasingly trust-minimized.
Product
- Add more mToken pairs that can be leveraged with synergetic companies/protocols
- Provide tooling for asset introducers that allows them to seamlessly create proposals and interact with the protocol
- Further expand the DMM Explorer to showcase essential metrics for each asset introducer, add more data that showcases the real-world assets that back the system, and much more
- Add support for more languages, expanding our community reach to more regions
- Launch the DMM Wiki, which will be a community-led database for learning more about the DMM ecosystem and its current happenings
- Consolidate the UX of our different sites, streamlining navigation, usability, and discoverability
To continue the increasing use of our products throughout 2021, it is important we stay competitive in offering a wide-range of mTokens to users that have different appeals. We have also seen a large amount of demand from non-English-speaking communities. As we make the asset introduction / yield side of the protocol more transparent and decentralized, it is imperative we add sufficient tooling that allows them to work with the protocol.
Protocol
- Add staking for ordinary DMG holders (separate from staking DMG for NFTs/Asset Introducers)
- Port the DMM Protocol & its apps to another blockchain to improve usability, lower fees, and unlock new opportunities/use-cases
- Publish research and create flow of funds tracker, leveraging Chainlink — broken down on a per-NFT basis
- Publish research on a preliminary ongoing verification / audit scheme for validating the existence and legitimacy of the real-world assets
To build a vibrant, decentralized, and sustainable protocol, we must also align ecosystem participants’ incentives to work together. We will be publishing a couple of different staking designs to the governance forum to be accepted by the community, prior to building it and rolling it out.
As made evident by DeFi’s growth and increasing gas fees, the move toward scalability is essential for DMM’s success. Simply put, paying $25+ to vote on a proposal or $50+ to move tokens in and out of the DMM Protocol make participation unappealing to those without a large portfolio. To keep aligned with our goal of financial inclusion, we hope to bridge this gap by working with another layer-1 (L1) blockchain that can effectively serve as a L2 to Ethereum. Moreover, working with another L1/L2 that doesn’t have access to as much utility as base-layer Ethereum offers (meaning, it has a more rudimentary DeFi landscape than Ethereum’s) will likely prove synergetic for DMM and the cross-section of the other blockchain’s community of users. This collaboration is underway and we will announce it in detail at a later time.
The base scaffolding that the initial version of the DMM Protocol, yield farming, asset introduction, etc. offer have been paramount in progressing forward. As made evident by the community and the DMM Foundation’s desire to build a better financial system, we will be focusing on strengthening the protocol’s core to provide greater transparency and trust-minimized attributes that focus on “fiat tracking” and ongoing verification of the interest-earning assets that NFT holders are elected to introduce. In doing so, we hope to see wider acceptance of the DMM Protocol as a more legitimate player in the DeFi industry.
Integrations
- Continue to build modules around the DMM Protocol that make it easier to integrate
- Experiment with AMM pools that reward LPs additional yield by dynamically using mTokens “behind the scenes”
- Add support for DMM on various DeFi-related sites and services
Integrations are the backbone of our protocol and exemplify the composable nature of the blockchain(s) on which we choose to build. In order to fully realize the potential of DMM, we will be dedicating resources to form active collaborations with other protocols, businesses, and apps to broaden the usage of DMM.
More Detailed Breakdown by Time
Note, the points beneath each quarter are in no particular order. With new opportunities presenting themselves, unexpected roadblocks, etc. we envision further fleshing out Q3 and Q4 as the year progresses.
Q1 2021
- Gnosis safe integration for minting/redeeming DMM mTokens
- Create new governance voting contract that tracks staked DMG balances
- Add burning interface and DMG locked stats to the Explorer, for tracking the deflationary properties of DMG
- Add asset introducer breakdowns on the Explorer, allowing the community to analyze each asset introducer’s performance and health — showcases amount of DMG being staked per asset introducer, and other basic stats
- Consolidate UX of the swap application to use the DAO site
- Move the minting/redemption capabilities to the DAO site and clean our site’s navigation experience
- Publish website learning materials and community-led Wiki page that showcases more “lively” information of project
- Finalize staking mechanics with community feedback — post for feedback will be made on the governance forum
- Open Sea official launch with verified contracts — perform first live auction for an NFT
- Integrate DMG into a major DeFi Protocol (could be Q2 depending on cooperative timeline)
- Launch WBTC mToken pair
- Launch Chinese language support and regional communities
Q2 2021
- Integrate DMM Protocol with another blockchain for scalability and community expansion
- Launch DMG staking
- Merge pull request for DeFi SDK Interactive Adapter
- mToken CRV LP Pool with yield farming — this doubles as a partnership
- Quality of life updates to the DAO site to see vote ranking, delegate to other wallets, view NFTs, and more.
- Publish preliminary research/article on Chainlink-based fiat tracker for movement of offchain-funds, broken down by asset introducer (and possible per asset)
- Security and Health page, which discusses and dissects security audits, health metrics, real world asset verification, and the fiat tracker
- Launch PAX mToken pair; needs Chainlink oracle
- Launch Spanish language support and regional community
Q3 2021
- Create an open source module for the other integrated blockchain, which allows developers to fork a repository to easily offer interest to the DEX’s users
- Dynamic swap pool on another blockchain, where LPs earn additional interest by using mTokens
- Chainlink fiat tracker — depends on research and Chainlink’s speed to roll out necessary features
- Launch additional language support and regional community
Q4 2021
- Governance proposal builder — used to allow anyone to submit a proposal via the UI on the DAO site. Will be made handy for asset introducers as well
- Smart Router for mTokens that allows users to mint/redeem mTokens through the core contracts or secondary markets if there is a liquidity crunch
- Voting rewards — grant DMG to users that participate in voting
- Launch additional language support and regional community