Community Update #2
Today, I wanted to clarify the incoming upgrades. We have mobilized a rockstar team to deploy these two elements:
- An upgraded version of the HODLC contract; and
- A new upgraded decentralized exchange.
Due to the popularity of the project, a scheduled upgrade will need to be brought forward in the project’s timeline.
The upgrade of the smart contract is expected within 3–4 weeks. To reassure the community, it will have the option of being audited by an external third party. The new version of the smart contract is intended to make the order book management more scalable and easier to manage from multiple services; thus, preparing the HODLCommodity Community for the next phase of adoption. Furthermore, it will create a more robust basis for business projects (such as mine!) to be built on.
We are deeply committed to rendering this in the spirit and by the rules defined by the white paper. This will enable:
- Faster transaction time;
- Reduced gas costs;
- Possibility to manage thousands of transactions simultaneously;
- Remove pool usage limit;
- Better reentrancy protections;
- Audit ready.
HODLC is still in its infancy, and, in time, this process will be but a blip in the road. However, it speaks powerfully about the ability of this community to go through a decentralized democratic process. I want to be clear that no HODLC can be lost through this process. I also want to state that this is not the first migration we’ve done and that an experienced professional will be managing the process.
We have proven the strong fundamentals of the project and now. This move contributes to the project’s longevity and prepares it for mass adoption.
To streamline efforts, the new decentralized exchange web application will be made available shortly after the successful migration. This new dex will be made simply but with more responsive and reactive design along with integration with additional wallet providers. This new application will have a scalable, off-chain order book that will accelerate the buying and selling process.
We have been lucky to have a legendary senior developer joining us in this undertaking.
Other community developments
We expect the new website to be released in 4–5 weeks. The community branding and vision will be clarified in this new site.
We have also delayed our possible integration with exchanges until the migration has been successfully completed. Again this is for the sake of efficiency.
This is the next natural step in the life of this project. It will prove that community building and mobilization efforts are the keys to success for the collective infrastructure.