The Second Trading Cylce of the PEAKDEFI Fund was successfully closed and investors enjoyed a gain of just over 12%. The fund managers have once again completed a successful trading cycle and closed the second phase with a great result. We at PEAKDEFI have taken this opportunity and have now made some adjustments to the Smart Contract, which we would like to describe in more detail here.
But first, let’s review the results of the second trading cycle in detail. As you can see, the PEAKDEFI Fund closed with a profit of just over 12% for investors. If one would calculate this now on one year, one would come of a profit of scarcely 300%. This is an outstanding result for a decentralized fund compared to traditional funds.
But now to the important updates:
Of course, before the PEAKDEFI Fund was released, we put it through its paces and tests, and had a very detailed audit report prepared. Nevertheless, in a live phase, there are always small changes over time that need to be adjusted. Therefore, we have now made a few minor changes for you.
1. The trading cycle duration
For fund managers to operate and trade successfully, you need some stability with the amount of assets under management. Therefore, we initially said that a trading cycle time of 57 days is appropriate. However, we found that 57 days feels like half an eternity in the crypto market, so we decided to reduce the new trading phases to 27 days with a subsequent 3 day Intermission Phase. This means that the total cycle of 60 days has now been reduced to 30 days. From now on there will always be 27 days trading cycle and 3 days intermission phase. This allows our investors more flexibility and still gives our fund managers enough security to trade successfully.
2. Update of the 1inch API connection
The 1inch protocol is used by our PEAKDEFI platform for swapping assets. Our native currency of PEAKDEFI Fund is USDC, but we still want to give our community the possibility to deposit and withdraw with other assets. Therefore, we have integrated the 1Inch protocol, which performs the swaps for us. But of course 1Inch is also constantly working on the development of improved protocols, so we have now implemented version 2 of the 1Inch protocol at PEAKDEFI, which again leads to lower fees for the end customer.
3. Adjustment of Compound Smart Contract interaction
In order for our fund managers to set successful leverage trades, we use Compound’s protocol. Again, our developers have discovered a few little things that can improve the communication between our smart contract and the Compound protocol. Therefore, small improvements have been made to the Smart Contract here as well.
4. New PEAKDEFI Fund Smart Contract
In order to enable all the above-mentioned changes and optimizations in the smart contract as well, it naturally had to be relaunched. Therefore, a new smart contract was published for the fund and all funds were transferred from the old smart contract to the new smart contract.
In order to provide our community with maximum transparency, we are once again naming the two contracts here.
The Old PEAKDEFI Fund Smart Contract:
And the new PEAKDEFI Fund Smart Contract:
Of course, the old Smart Contract is still listed in our Gitbook, we will adapt it as soon as possible.
A successful and safe performance of the PEAKDEFI Fund is very important to us, therefore we monitor it all the time and make adjustments if necessary.
We hope that the fund managers can continue to shine with a great performance and look forward to a successful PEAKDEFI time.