Since December 2021 when the project first launched, we have been diligently building Ithil’s architecture, writing code and forming new partnerships. Keep reading to learn what’s been achieved and more importantly: what’s coming. Let’s get right to it!
💸 Dec 2021 — Pre-seed Raise
Ithil, at the time known as Aleph, raised a very small pre-seed round to kick off the development efforts.
🏃♂️Mar 2022 — Core Ideas Get Settled
Currently, web3 is difficult to navigate. Few protocols are harmonized with each other, leaving a wealth of opportunities completely untapped.
Ithil fixes this. We are building the financial interoperability layer that will connect the entire web3 space, opening up previously unknown opportunities in DeFi and brand new ways of creating value.
📝 Aug 2022 — First Testnet Successfully completed
In August 2022, we launched our first Testnet. Initially restricted to a few handpicked Acolytes, the Testnet went public in September and saw more than 5000 unique wallets interacting with it!
The feedback we received was incredible, and it made us realise that Ithil could become much more than what we initially had in mind. The weeks that followed were spent reimagining our daily interactions with web3, as well as reviewing the protocol architecture to make it more modular and forward-thinking.
❤️ We are deeply thankful to the community for their feedback. To read more about our public testnet, check our Medium article “Public Testnet: First week recap”.
🤝 Sep 2022 — Connecting Web3: New Partnerships Announced
Starting in September, Ithil forged several partnerships with DeFi protocols. These focus on building new strategies for Ithil. So far, we’ve publicly announced our Aave and Aura Finance partnerships. More are being finalized and will be shared soon, so keep an eye out for our next announcements 👀.
- Aave Grants DAO has approved our proposal to build an Aave integration on Ithil. Ithil’s correspondent service will enable users to provide boosted collateral on Aave.
👉 Read “The Aave ecosystem is coming to Ithil” to learn more.
- Aura is a yield aggregator for Balancer’s liquidity pools. Following our collaboration with their team, we are developing a service to allow boosted farming in any Balancer pool.
👉 Read “A new Balancer & Aura ecosystem strategy is coming to Ithil” to learn more.
We are proud that multiple DeFi blue chips awarded Ithil with a grant to develop integrations. We’re also very grateful for the excellent cooperation with several other protocols that reached out.
🧑🤝🧑 Oct 2022 — A Vibrant Community Is Born
The public response to Ithil in the past months has been nothing less than amazing, especially given the volatile market conditions. The feedback we receive on a daily basis from our 25.000 wizard fans on Twitter and Discord is a clear indication that DeFi needs a protocol capable of connecting its protocols. This serves as the best incentive for us to build our product for the long term, and work diligently towards the Mainnet launch.
❤️ Thank you to everyone reading this recap, especially our Wizards and Acolytes.
🏆 Nov 2022 — Games and Marathons
November was a month full of community activity. We had:
- Profit incentives for the public testing
- A team trading competition
- Quizzes and group races
- The Ithil community marathon
We awarded our winners with juicy stable coin prizes, as well multiple NFTs which grant governance voting power and other Ithil ecosystem perks. Big splash to end the year!
To participate in the upcoming initiatives and have a chance to win prizes, make sure to be active on our Discord, which you can join by clicking here 👉 https://discord.gg/RXPgrnctXr.
⚡️2023 Alpha Time: What’s Coming Next?
Next year will be even greater for Ithil, with these highlights:
- Ithil’s 2023 launch on Ethereum Mainnet.
- We’ll announce multiple new partnerships with high profile web3 protocols.
- We’re bringing huge product improvements and introducing disruptive new services such as NFT mortgages as well as cross-chain features. 👀
We’re glad to still be on this magical journey with you all, and are dedicated to make 2023 a stellar year. Thank you — Team Ithil
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