The Compendium. A Proactive Introduction To The Next Chapter.
The initial version of Compendium.Finance launched publicly last March with our first product, the verified bot marketplace. Since our humble launch, we have accomplished some amazing things and have grown quite a loyal following. Our “compendium” of tools has grown full bore into a thriving suite of products for multiple different ecosystems. The main focus of these continues to be our automation terminal for centralized exchanges (with our newly updated high-frequency trading engine and new exchange integrations on their way). We however have been hard at work behind the scenes to transform our other two core components — our decentralized exchange and NFT tool offerings.
For as long as we remember, we’ve collectively had the aspiration to offer tools and products familiar to users of “traditional” centralized exchanges (like FTX and others) to the world of DeFi. Solana provided the perfect gateway to easily port these tools over in phases because of its main core design. The release of our initial DEX built on top of Serum late last year marked a major milestone but in all honesty… we feel the product launch fell short. The backend of our system exceeds expectations and there are several functionalities built-in and ready for the next steps, but in trying to create a unique interface — we actually stepped away from our goal of simplicity and possibly made things a bit more complicated than needed. We’re avid users of other projects and protocols on several different blockchains and have since done a thorough research analysis on what these next steps should be as we approach the launch of new products for our Solana DeFi tool suite. A major part of the next chapter is the relaunch of this platform and a greater emphasis on our on-chain product offerings. The interface and functionalities are currently undergoing final beta testing as we prepare for some major changes.
Major Changes For Our NFT Ecosystem
Talking about Solana and major changes brings me to our next talking point, The Compendi-Pigs NFT collection. Many of you reading this are familiar with the collection at this point, but let me offer a refresher. The collection was dropped in three different auction-style offerings using the original Metaplex Auction House code with a maximum of five drops planned. It provided an excellent way of community building, platform growth, visibility, and more at the time but has since failed to meet some expectations as the greater NFT ecosystem continues to shift. The collection was originally offered as a celebratory drop with no utility. This quickly expanded to initial utilities including gated communities, access to promo codes, and some other niche offerings but the community continued to demand more so we started mapping new features out. Piggy Participation week drew great interest from the community and airdropped what I would consider a large sum of our native $CMFI token to loyal holders. This was an excellent way for us to honor the built-in rarity metadata and loyal holders before a major shift occurred in the collection itself. However, issues started to pop up as we continued to strive for new integrations and products surrounding this collection and launch drops four and five. One of the quirks with the Metaplex auction house is the inability to update metadata on “prints” of NFTs, which became a necessity for what we have in store. The main wallet is marked for royalties but has no update authority access in order to make this and some other planned changes work. So… we went back to the drawing board.
When I say drawing board, I mean that kind of literally. We took action and decided to rework the whole collection (and a new complimentary collection) and then mapped out the tooling surrounding our NFTs and their integrations among our several different products. Weeks of research and development have culminated in a final product that our team is very proud and fond of. There is still some work to do, but as we approach the final stages it’s now time to share the vision.
This brings us to “The Compendium”. This brand will host the changes and additions to the NFT ecosystem. The current Compendi-Pigs collection will be deprecated by allowing users to switch their current NFTs over to a newly designed collection featuring reworked Piggy Bank art and more. Exact details for the burn and switch method are still being worked out as we test functionality but the process will most likely work as follows:
- User accesses the special dashboard
- User deposits Gen 1 Compendi-Pig NFT and a set number of $CMFI Hopefully you held onto some of that $CMFI from the Participation Week airdrop!
- The user receives up to two new Compendi-Pig NFTs (depending on original rarity) and a white list token for our brand new Compendium profile picture-based verified collection.
The newly formed replacement collection will feature generative style artwork with traits of different rarities instead of having the rarity metadata built-in. NFTs with current rarer metadata parameters will have a greater chance of obtaining tokens from the new collection with rarer attributes. Traits in the new collection will also feature familiar patterns and objects used in the original drops.
As mentioned — Users will also receive a white list token for our brand new generative profile picture-based collection. This collection will become the main asset in the now expanding Compendium.Fi NFT ecosystem. Minting of the new collection will take place shortly after the switch has taken place. Our current plan includes a full mint refund in $CMFI for all participants with the Compendi-Pig based white list token during the minting phase. We wanted to focus on honoring the current community and feel this is the best compromise.
The Compendium NFT ecosystem will focus on building out a brand for the metaverse. Story-based integrations, airdrops, and new features will be added with support from the community. Airdrops will include the newly created Compendi-Pigs assets for planned Drops 4 & 5, Redeemable NFTs for subscriptions and new products, along with special events and unique artwork-focused collections. All mint funds beyond the refund mechanism will be segregated from other foundational assets and solely used for the expansion of our new initiative. The goal here is to not build our own interactive metaverse but to provide a visual brand and integrations that help to future-proof the collection and other products.
Dynamically Changing Plans For The Future
While there is no explicitly set roadmap for integrations — we have developed a mindmap. This allows us to dynamically change and pivot to where the industry moves in the near and distant future. Some of our focus will lie within:
- Allowing users to simply mint their own NFT assets or collections
- Referral bonuses for holding specific NFT
- NFT Trading tools (falls in line with current offerings)
- Access to New Beta and Closed Products & Merchandise
- NFT Staking alongside $CMFI
- Peer to Peer Escrow Swaps
- Updatable artwork & metadata as the community-driven storyline progresses.
- Partnerships with other metaverse projects for integration into their unique worlds.
- Community-driven events, raffles, and more utilizing royalty payments.
- Identification within the social trading ecosystem for CEX & DEX products
- Cross-chain bridging of NFT will change artwork and metadata while also providing unique integration utilities for our tool suite for the chosen chain.
There is still a lot to do as we finalize launch plans for the next chapter of our ecosystem. We wanted to post our thoughts and current plans for the next chapter in order to start a conversation within the community. Our new and current offerings are only as strong as we collectively can make them and all of our future plans have taken the happiness and loyalty of original holders and users into account.
Thank you for your patience, for reading this long article, and for being a loyal supporter since the beginning. We’re here to build cool shit and will continue to do so.
Some Other Things To Be Excited About:
- The Compendium.Fi domain currently reroutes to our main product website at https://compendium.finance. A newly designed landing page will take place of this redirect and product simplified branding and messaging to direct that specific user immediately to the product they want to interact with or learn more about.
- Updates to the CEX Trading Tools are on their way with advanced workflows to create the most intricate strategies available. New exchanges are also being added and included the likes of OKX, Woo, & more to help provide our products for different regions. We will also be running several versions of trading contests and more.
- New bots from exciting authors are completing the verification process and will become available for public subscription soon. Crypto payments for strategies on the verified bot marketplace have also been made available by utilizing SolanaPay and our native $CMFI token.
- $CMFI was recently listed on Digifinex.com with more exchange listings on their way. We’re excited to build out secondary markets for users beyond DeFi protocols and will also look to integrate these exchanges to our trading system to provide special use cases for spot holders on each linked exchange account.
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As a reminder, nothing here is set in stone and is subject to change as the greater ecosystem changes. We are close to offering the first initial phase of our new plan after final testing and internal artwork approvals. Nothing in this article should be taken as financial advice. You are responsible for your own investments and as always, we urge users to do their own research.