Connect Financial Weekly Update

Welcome to another weekly update for everything Connect Financial.

To start with, we want to give a shout out and ask that you check out this new video that came out today from Josh Cross with Defi Now. You can see his video here.

This past week the core team has been busy completing internal procedures and policies, writing customer support work flows, and a myriad of other exciting necessary preparations for having a live product and system.

The dev team continues to check off the remaining items on the Client portal, with a significant amount of internal testing still happening.

The new landing site is expected to be completed and ready by the end of the month and I will say we are really excited for it. It comes across very clean and simple. Here is a little teaser of the new front page

Governance And Treasury

On Sunday our Smart Contract team did our initial deployment of the Connect Financial Governance Contract. Everything went as planned and over this week they will be working on contract upgrades to turn over all control for future upgrades for CNFI Token and Staking to the Governance Contract. If you can imagine this is a very painstaking process as we double, triple check everything before running the upgrades. We are about one week behind when we expected to start the deployment but that was mostly attributed to making an update to the staking platform to account for a very edge case where some users would not see a reward for a single day being added to their numbers.

The Governance Contract can be seen here on etherscan:

Contract Address: 0x537AcDD79651cd179bA67834f3a1b7630DD0D511

Token Name: Connect Financial DAO

Token Ticker: CNFD

Total Supply: 10,000,000

Currently the tokens are held by a new core team Gnosis Multi-Sig Safe until we finalize all contract upgrades.

Afterwards, we will be airdropping 5% of the supply to stakers with a staked amount of 50,000 CNFI or higher (not your base or modified staking weight but actual staked CNFI) as of a snapshot to be taken on July 1st. The amount you receive in the airdrop will be prorated based on a similar weighted formula that the staking uses (no bonuses for Evolution etc). In example, if all stakers with greater than 50,000 CNFI staked equal out to a total of 1,000,000 staked CNFI and you have 50,000, you would receive 5% (50,000/1,000,000) of the 500,000 CNFD or 25,000 CNFD.

Governance has the power, duty and responsibility to put forth and vote on new updates to our protocols and tokenomics. Users are able to delegate their CNFD’s voting power over to other individuals without losing their actual CNFD, but do not need to actively participate in the DAO.

We have elected to roll out the DAO using Snapshot.Org as our user interface. This is a well rounded and widely accepted website that several popular DAO’s utilize. As we mature and age out of Snapshots offerings we will work on our hosted site, but for now this fits us perfectly and saves us quite a bit of time.

We will continue to update the information relating to the DAO and CNFD as we complete this weeks upgrades.

As always we appreciate our amazing community and look forward continuing to deliver on all sides.

Join our growing community!

Discord : https://discord.gg/GYeWZ5uE4P

Telegram: https://t.me/connectfinancial

Telegram Announcements: https://t.me/connectfinancialnews

Twitter: https://twitter.com/ConnectWallet

YouTube: https://www.youtube.com/channel/UCfKkFD8FwnRvoxdOODTz_Ug

Official Website: https://www.connect.financial/

Staking: https://token.connect.financial/

Client Portal: https://client.connect.financial/