Building on Plutus is a dynamic space in the lead up to Cardano smart contracts, pivots in implementation details as IOHK core devs release new Plutus components are expected. Our core dev team has received some questions on the timeline for launching Liqwid v1 on Plutus mainnet, so we would like to clarify this for the community.
Before we dive into where the Liqwid protocol is going, a moment to reflect on how far the core dev team has come. Liqwid v1 smart contracts and software requirements entered Plutus development late February. Liqwid Labs core devs working alongside the MLabs Plutus devs built an algorithmic non-custodial liquidity protocol for interest rate curves from the Liqwid eUTXO technical specs over the last 6 months. In early May we doubled down on our partnership and launched a joint venture with MLabs for the development of the LiqwidUSD protocol; an interest-free algorithmic borrowing protocol and stablecoin on Cardano. We have progressed steadily on both since then with independent development teams working in cross-protocol collaborative environments (thank you Slab & Slack!).
*To manage expectations, we estimate LiqwidUSD going live on Plutus mainnet 2–3 months after Liqwid v1 launch.
We have come far since Liqwid’s Plutus development start but we still have a way to go before we are ready for deployment to Plutus mainnet. The testing of Plutus contracts and validator scripts is a critical part of the development process our core devs are focused on completing leading up to the contract audit (thank you QuickCheck!). Below is a list of milestones on the path to v1 launch on Plutus mainnet:
-Liqwid smart contracts deployed to Alonzo private testnet (completed: August, thanks SundaeSwap!)
-Liqwid smart contracts deployed to Alonzo public testnet (estimate: early September)
-Liqwid app UI open sourced to beta testers (estimate: early September)
-Liqwid Plutus on-chain codebase security audit (estimate: late September)
-Liqwid smart contracts deployed to Plutus mainnet (estimate: late October)
Please note the deployment schedule timing is the core dev team’s best available estimates based on the remaining work to complete prior to launch. If these times change or shift for any reason, we will communicate this with the community. Remember it’s still early days in the fast-moving Plutus space. We look forward to sharing more precise dates and information soon.
~Your Friendly Liqwid Core Dev Team