What’s coming in Dharma, and the intermediate steps to get there
2 min read
Published on October 1, 2020
Since we launched our Uniswap integration in July, we have been blown away by the community’s response. It’s clear that many people were seeking a beautiful, user-friendly mobile app experience for Uniswap trading, and found their solution in Dharma. Free Gas doesn’t hurt either 🙂
While we don’t typically publish our roadmap, our plans for Q4 are quite ambitious and all-encompassing, and given the interest our users have had in our next steps, we want to be transparent about where we are heading.
In short, we have an ambitious roadmap of features we’re shipping in the coming month:
1. The ability to create and execute trustless limit orders directly on Uniswap
2. The ability to sell any token in Uniswap and route the proceeds to your bank account
3. The ability to buy any token in Uniswap directly from your debit card and bank account in high volume (e.g. $10,000)
Shipping these features will require a reconfiguration of our backend infrastructure:
1. Debit Card Deposits will be unavailable for 1-2 weeks while we build out the new feature set mentioned above
2. dTokens are being deprecated permanently as a means of earning yield in Dharma
3. Our Compound integration (aka Yield tab) and P2P payments system are being temporarily retired
We recognize these changes & deprecations may be disappointing for some of our users, but we want to emphasize these are temporary steps. These changes will allow us, imminently, to provide an even more expansive suite of yield opportunities (e.g. cTokens, yTokens, aTokens, you name it) to our users — directly from their debit card or bank account.
Regarding Debit Card Deposits, from October 7th to October 21st, debit card deposits will be unavailable on Dharma. Once the re-architecture for our new features has been completed, debit card deposits will become available once again.
Regarding the dToken deprecation, on Friday, 9 October between 10 AM to 12 PM PST, we will be conducting a migration in which we unwrap the dToken infrastructure and return the underlying Dai, USDC, and accumulated COMP to end-users.
If you hold dDAI or dUSDC, here’s what you can expect:
– If you have >10 Dai or USDC earning interest in Dharma, you don’t need to do anything — you’ll simply see the Dai or USDC transfer from your yield tab to the portfolio, where it will no longer be earning interest
– If you have <10 Dai or USDC earning interest in Dharma, please reach out to firstname.lastname@example.org to receive the underlying asset
Regarding the temporary retirement of Yield, we want to thank the Compound team for their assistance in building the first iteration of our yield product. The DeFi yield space has evolved considerably in the past year, and we wish to correspondingly evolve with it. We have exciting plans for yield features in the future, and will make further announcements here in time.
We are excited about the suite of exciting features that we’re launching this month, and can’t wait for you to use them.