Warp Finance leaves the Advanced Blockchain incubator

Hello Warp Finance community,

Today we announce that Warp Finance has left the Advanced Blockchain AG incubator and returns to be a fully independent project! This update brings both positive and challenging changes, but we firmly believe that the advantages outweigh the disadvantages.

One of the toughest challenges we will face is rebuilding the development team, an excercise we had to do already too many times, as we will no longer have access to the developers from Advanced Blockchain AG. However, we are already in talks with several developers, some of whom are “Warp Finance OGs” who have worked on the first version of the protocol and have shown interest in returning to the project. We are not satisfied with the speed of our own development in 2022 and see this as an opportunity to set the sails right one last time.

Now that we are no longer part of the incubator, we can post more regularly and be more transparent in our communications with you. Being in the cosmos of a stock-listed company can place restrictions on communication, and we are committed to being as transparent about all new developments as possible moving forward. This includes sharing information about our financial capabilities, payment structure, product development status, team member status, and road map updates. However, we want to respect the privacy of individuals who choose not to be publicly facing (for now).

We would like to thank the active members of our community for their continued support and engagement. We are committed to ship products, replying more openly to messages and posts going forward. The exit process took much longer than originally anticipated, which required us to go into something like an unwanted extended winter break and keep communication to a minimum.

We have already fully migrated the infrastructure of Warp over to new systems, which caused some downtime of the service and website. Our next steps will include moving the Warp team funds and Community fund to new wallet addresses, updating all communication channels with the latest information, and onboarding Fullstack and Smart Contract development capacities to get the job done. After that all our focus will be giving a vision for the first quarter of 2023, the year as a whole and completing version 2.

We are more than happy to receive your comments and questions, and we will answer them collectively in another post or in the upcoming AMA. Please send your questions to @warpfinance on Twitter or on Telegram as we are currently setting up email accounts for the team. Afterwards we are also happy to receive questions via email.

Things are changing for the better of the project finally, and we can’t wait to share our plans and execute on them. We ask one last time for your patience as we work towards our goals of realizing Chisel and version 2.

Our deep thanks go also to Advanced Blockchain AG who has been a great supporter in all aspects since 2021. It is safe to say that Warp would not be at the same position where we are currently without them, even though all of us agree that we wish to be more advanced already by now. The Warp Finance team and Advanced Blockchain AG will stay connected and Advanced Blockchain AG will continue being a major tokenholder of the project.

Thank you for your support and belief in Warp Finance.

Sincerely, Your Warp Finance Team

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Warp Finance

DeFi’s first isolated lending protocol that optimizes yield-bearing receipt assets, and much more!