Hey gang, it’s been exactly one month since my last article on the Byte Masons, and I figured I’d keep these consistent for you. We’ve been settling into our bear market groove and laying the groundwork to dominate once demand picks up again. Yields are low, retail is ice cold, and the outlook is bleak, so we continue to focus on beefing up our business, legal, and technical infrastructure.
We’ve also made our first step onto Ethereum with Granary 🥳! We’re working with partners to get liquidity bootstrapped and look forward to our entire software suite chugging alongside it. I’d also like to congratulate their team, who worked with 0xGoober to save Harmony markets from blowback from the Horizon Bridge hack, securing our markets in record time against potential harmful liquidity inflows.
Marketing / Business Development
Our marketing efforts are focused almost entirely on B2B/B2DAO and branding to prepare for the next high-demand period. Strongly differentiating ourselves from the broader market is a big focus. To that end, we have committed much time to develop new and existing business relationships. Unfortunately, this has left our beautiful users behind since we’re operating under NDAs and navigating sensitive deals. SAMSoN and I are working on ways to engage with you all without putting any of these developments at risk.
While I think you guys would get annoyed if we blasted you every few hours, we’ll try to kick up our user comms. We aim to push more information out instead of forcing you guys to pull it from us in chat or on Twitter.
Our new Multi-Strategy crypts are now on Pain.Finance for production testing, and we sent them to auditors. These new crypts are a step forward for Reaper as they make our vaults ERC-4626 compliant, withdraw-fee free, and capable of handling even more funds. This means industry-leading security, capital efficiency, and longevity.
In tandem, we’ve been testing new cross-chain strategies and cool integrations. We can’t unveil where we’ll pop up next, but we have been working with partners for some time to ensure our launch is successful. We’re excited to give users access to our best-in-class service all over the blockchain ecosystem.
Crow and Sasquatch are working hard on the front end, and alongside the massive performance improvements you’ve seen in the past couple of months, additional zappers and discovery features should make their way onto the app. Our ultimate goal is to make the discovery of new crypts fast and straightforward and entering positions as simple as making a swap.
Our security team has been working with the Reaper crew to audit, optimize, and pen-test our new generation of Vaults. We’re also working on state-of-the-art monitoring and emergency response infrastructure for them. Our goal is to have vaults that can be relied upon by both retail and enterprise and deliver the most capital-efficient products in the industry.
The research team and I have been knee-deep in literature, working to create general methodologies to assess DeFi asset risk and optimize incentive structures. We’re currently working on a pair of research papers to start bringing our ideas to the broader industry. We’re also excited to offer services that assist teams in applying our research while we work on AI-powered tooling to make implementation more efficient. Our research can save projects millions of dollars over their lifespan, and we expect it to give our industry an edge over our CeFi counterparts.
As we wait patiently for some market clarity, we’ve continued to iterate on Reliquary’s front-end and back-end. I can confidently say it will be the best incentive distribution system in DeFi, and offer a super fun and simplified UX to get users earning yield fast. We’ve also got some cool integrations planned and are working with partners to add utility and deliver on what I believe will be one of the best DeFi experiences possible.
Reliquary will serve as a flywheel for our other products, leveraging our incentive design research to make the entire Byte Masons ecosystem a success. It will feature heavily in one of our upcoming research papers, which as of now will double as a Reliquary whitepaper, though it’s getting long enough that we might have to separate them.
I know a lot of you have been waiting patiently (and impatiently) for us to launch, but with demand as low as it is, we’re focused on coming out of the gate with a polished system. You could probably consider where we’re at now a V2 of the Reliquary we finished earlier this year. At the very least, I know none of you will be disappointed when it comes.
Granary is now on five chains, and while we have our eyes on a 6th, we’re moving most of our focus from expansion to marketing and business development. Brand differentiation is something we’re focused hard on for Granary, as it’s hard to sell a bunch of math to investors. We’re also in talks with market makers to begin bootstrapping liquidity and have shipped it out to audit to help move some of these relationships further.
Granary will benefit most from our research and development efforts and will come out of the gate with our incentives and risk profile more optimized than even Aave. We’re laser-focused on being the most user-centric lending platform we can be and look forward to growing alongside all of you. Keep an eye out for our new whitepaper coming soon.
SAMSoN has helped turn the Learn crew into a high-powered machine, leveraging his COO magic to test some advanced organizational theories. While he works to apply this framework to the rest of our business, what has been set in motion is swiftly becoming the best educational platform in the industry. They have published their development updates and roadmap, so I won’t go too deep into their strategy. Still, our goal is to use Learn to seed a wide-ranging network of educators, influencers, and users to reinforce our cross-chain efforts and community building.
Secret Project #1
I can’t deliver much news about secret project #1, but I will communicate some of its impetus. We want to give our users delta-neutral products that focus on providing high levels of capital efficiency without users worrying about the downside risks associated with centralization. We see many projects in this space taking on a tremendous amount of counterparty and dependency risks and will be stepping into the market with a best-in-class product that delivers on these goals.
Secret Project #2
Secret project #2 is even more secret than secret project number 1 and perhaps our most ambitious development to date. It will place our company in a very favorable position regarding compliance, revenue diversity, and user acquisition. There are a host of considerable obstacles in web3 adoption, and we’re not hesitating to tackle them, from the lowest protocol level to the highest level of abstraction. We have a web3 development team that even the biggest VC firms couldn’t dream of, and they aren’t hesitant to take on challenging problems.
Because yields are low and there isn’t much attention from users, we’ve focused on attracting enterprise investors and foundations to the $OATH token alongside our business development efforts. We’re also preparing $OATH governance initiatives as part of our business strategy as some of these bigger relationships take shape. In addition, Secret Project #1 will give $OATH a massive new use case. We’re waiting in the wings with gauges for Reliquary and an exciting integration into secret project #2 to tie the ecosystem together. We’ve got a lot of bear market ahead of us, so please stay patient as we lay the foundation for $OATH and its holders.
Our strategy is all horizontal integration, efficient operation, and premium security. Once efforts have borne fruit, we’ll be able to operate on a level that no other competitor can match. Look forward to exciting $OATH integrations as the latter stages of our strategy begin to unfold, and remember to tell your friends that Byte Masons products are the best place to learn and participate in DeFi!