Progress Update Report #2
Hi Babbians! 👋
We hope August finds you great. Grab that sunlight as we prepare for a bull autumn/winter.
While you sipping cocktails or your favourite beer, 🍺 we prepared the second progress update for you all. We have some exciting developments to share with you across BABB, ReDeFi and our ever-growing community. You can read the 1st one here by the way → https://medium.com/@redefi-world/product-progress-update-1-9e88a2005c33
1. BABB App
EURx Conversions Now Live
We are thrilled to announce that EURx conversions are now fully enabled in the BABB app. You can seamlessly swap between EUR and EURx and vice versa, enhancing the flexibility and utility of your assets within our app.
Expansion Across Europe
We recently introduced EUR accounts, and the BABB app is now available for on/off ramp in Europe in 22 countries! Users in the following countries can now take full advantage of our services:
🇫🇷 France, 🇵🇱 Poland, 🇩🇪 Germany, 🇸🇮 Slovenia, 🇵🇹 Portugal, 🇮🇪 Ireland, 🇳🇱 Netherlands, 🇮🇹 Italy, 🇪🇸 Spain, 🇷🇴 Romania, 🇬🇷 Greece, 🇦🇹 Austria, 🇱🇻 Latvia, 🇨🇾 Cyprus, 🇫🇮 Finland, 🇸🇪 Sweden, 🇭🇺 Hungary, 🇳🇴 Norway, 🇱🇺 Luxembourg, 🇧🇬 Bulgaria, 🇧🇪 Belgium, 🇱🇹 Lithuania.
This expansion marks a significant milestone in our mission to provide accessible and inclusive financial services across the world.
2. ReDeFi Development Updates
Telegram Faucet Bot Live
Our Telegram faucet bot is now live! Users can easily obtain testnet tokens by interacting with the bot. Read this easy-to-follow guide here to get started.
If you want to ask further questions or have issues with the bot, join our Telegram and Discord servers:
Key Service and Substrate Update
Our team is working on updating the Substrate framework to version 1.14 and integrating the consensus with our key service. This update is important for enhancing the security and efficiency of our network.
Testnet to Sepolia Bridge Launched
Last Friday, we successfully launched the bridge between our testnet and Sepolia. You can check out the transactions and bridge activity here.
The bridge is currently in its preliminary testing phase. We will continue to monitor its stability and make necessary adjustments. Once we launch the web interface, public testing will be available.
3. Community Updates
Zealy August Sprint
Our Zealy August Sprint is in full swing with over 400 participants already and ends on August 31st. You can earn points by completing some easy quests.
Don’t miss out, if you haven’t joined yet, the link can be found → here. Start earning that XP and climb that leaderboard for the 2nd $RED airdrop!
Galxe Faucet Quest
Just yesterday, we launched a new faucet quest on Galxe. You can earn testnet tokens every 24 hours by completing tasks. All details and instructions are over to Galxe and our community channels. Claim your points and prepare for the next testnet phase!
These points will contribute towards the 2nd $RED airdrop, so stay active and keep those test tokens balances up!
Till next time…
🏖️Thank you for your continued support and participation in our community. We are committed to building and growing our ecosystem together, and we look forward to sharing more updates soon.
Stay tuned, stay engaged, and let’s build the #Banksonchain future together!
About ReDeFi
ReDeFi is a Financial Infrastructure Platform (FMI) merging TradFi and DeFi. It uses a Substrate Layer-1 blockchain for decentralisation, while the Layer-2 sidechain focuses on privacy for B2B cross-border transactions, banks and financial institutions clients and so much more. The MVP is Onchain Money, a tokenised deposit system that mirrors fiat currencies in traditional bank accounts on-chain, enabling transactions using standard bank details.
Risk Disclaimer:
Don’t invest in cryptocurrencies unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
