Contrax July 2023 Update— DAO Announcement!

3 min readJul 3, 2023

Well, after over a year of planning and development, the Contrax platform is finally ready for its next stage: a DAO to be owned and controlled by its users — you! We spent the month completing the final touches that we thought necessary to put the platform in a ready state to go to market. Let’s go over the upgrades this month, and what comes next for Contrax.

Slippage Simulation via Tenderly

Always know your slippage before you deposit and withdraw! Contrax has integrated Tenderly so that the actual percentage fee you lose in the steps it takes to enter the farm is always known. These are all the fees you’d always need to pay to reach your farm, but on almost all platforms, you never really know how much you pay until you pay it. On Contrax, you’ll know as soon as type in the amount you want to stake.

Front Integration

Contrax is proud to include Front into its beta, the upcoming Plaid-for-crypto app that allows users to fund their Contrax account from other crypto platforms without ever having to leave the app. Currently, not all exchanges support the Arbitrum API, but we expect this to change as time goes on, and options to open up further as Front integrates more exchanges.

Ulimint —Simplified KYC in 50 States

Contrax already has Wert for simplified KYC, but Unlimint offers the same simple buying experience with all states included. This now gives the user three buying options, with the third option of Transak, which is upgrading its architecture to simplified KYC soon.

The Next Steps for Contrax🎯

There’s only one next left to do from us: the hand-off of this platform to the new Contrax DAO. Afterwards, goals, updates, and future plans for the platform will be in their hands. Many members of the team will stay involved as DAO members, and Leios, the company behind Contrax, will work with the DAO to hand it off to the stakers.

If you are currently using Contrax and want your representation, contact us to become part the upcoming DAO.

Join Our Community 🔗

Join our Discord and contribute your ideas.

Check out our app for yourself, here.