July & August Updates

Over these last two months we have continued to move forward, aiming to improve day-by-day, firstly we would like to announce that we have reached + $500,000 in TVL and have now been onboarded onto the Harbour Accelerator under TrIreme Trading.

We are currently working on some serious architecture upgrades for the platform, looking to integrate a newer, AI-integrated architecture, the team has expanded as we gear up to close our Angel and Seed fundraising rounds.

As ETH Slumps, Contrax grows to $500,000! 💸

Contrax has grown more than 200% month over month since launch, with our only downturn and quickly bounced back from the recent market downturn & kept on climbing despite the market stagnating. This shows that the interest in Contrax is real despite the broader crypto market sentiment. We recently broke the half million milestone, and we are going for $1m in TVL next. This is all during beta with select partners on one chain, so it spells a promising future for Contrax as we grow.

Speaking of growing…

Contrax is in the Harbour Accelerator! 🚀

Contrax is now under Harbour, Trireme Trading’s accelerator that led by Jenite Rajendra, who used to lead cohorts under Cronos Lab & Crypto.com. Under Harbour, Contrax has access to a new network of investors while also providing top tier strategy for our tokenomics, round, and launch. They have already opened up many new routes for us, and we are at the tail end of finishing document review to be in top shape for our rounds.

New Roadmap & TGE Target Date! 🗺️

With the help of Harbour, we’ve also outlines a new roadmap covering our plans to continue to upgrade our architecture, get to TGE by the start of 2025, and work explore exchange listing alongside launch. The roadmap also includes our upcoming 4337 upgrade, the new A.I.-powered vault optimizer upgrade, and our multi-chain expansion plan.

Contrax Team & Advisors Expansion 🤝

Meet Ughanze Paul, the newest team member to the Contrax core team! Paul has been quite active in the community for a while, and even wrote our last proposal for the ambassador program, which he then became the lead for. The Contrax Board decided to offer him the marketing lead role, which he has accepted. Paul is an active DAO contributor across the DeFi space, and has led campaigns under Bankless DAO.

Our advisory board has also expanded to include members from our Harbour accelerator, as well as other new advisors. Here is the full list of the Contrax advisors and a summary of their qualifications:

Contrax will continue to work with Harbour to identify the right advisors to keep expanding the board with those best able to launch the Contrax vision.

Optimization Vault Upgrade 🔧

Contrax is in the process of upgrading our traditional auto-compounding architecture into one with an optimizer vault that leverages A.I. to always find highest APYs that are also sustainable and reputable across DeFi. With this architecture change, you can be even more certain that your funds for any asset will always be earning the most within the most trusted and secured protocols in DeFi. The initial architecture will let the DAO manually decide these vaults, with an eventual upgrade to A.I.-based decision making model where the DAO only approves the suggest output.

Portfolio Vault from our Clipper Partnership💼

Contrax has partnered with Clipper to bring our first diversified Portfolio vault! You can earn over 100% APY right now with this impermanent-loss-free basket of blue chip assets: USD Stablecoins, WBTC, ETH, and ARB. You can listen to our Space with Clipper to hear about how they use real time pricing to ensure there’s no loss based on value changes between assets: https://x.com/Contrax_Finance/status/1825964692042567734

Next Steps for Contrax 🎯

• Arbitrum LTIPP Conclusion: The LTIPP grants were a success. By tomorrow everyone will receive their loyalty ARB if they did not leave the vaults while they were staked. The APYs may drop, but what remains should still be relatively high for you all to keep earning!
• Multi-chain Launch with Base Vaults: Contrax has a Base vault on Steer up on staging and is working on creating the same seamless experience all of you have come to expect from us for multi-chain deposits. More news coming soon.
• Angel Round: We’ve refined our raise docs and are currently sharing them with angels that
• EIP-4337 with Alchemy: Contrax has been offered to join the social auth alpha of Alchemy, which we have accepted and are waiting for next steps on.

Join Our Community 📢

Join our Discord and contribute your ideas.

Follow us on Twitter to hear updates right away.

Start earning APY and xTRAX tokens on your crypto here.