Method Roadmap Preview & Community Updates

Hello Method Finance community!

It’s been 1 month since we launched our Medium article outlining an initial roadmap for Method Finance. At the time, Method was only a few weeks old and we were in the process of wrapping up our LBP.

In the time since we’ve seen our community grow stronger and we have continued to deliver the features that we promised.

We wanted to take this opportunity to review some of our accomplishments together, give you a sneak peek of some of our upcoming roadmap updates, and lastly, address some suggestions from the community.

Our progress so far

For those that are new to the Method Finance community, you may be surprised to learn that we are still less than 7 weeks old. One of the reasons that this is so hard to believe is because of how quickly we have grown, and how much we have accomplished during this brief time period. Let’s take a quick moment to recap some of those accomplishments.

🚀 Method NFT Minting launch: On March 23rd we launched the ability to mint a Method NFT, and also created a unique tiered system. The first 1–100 NFTs minted were platinum, then 101–1,000 were gold and finally, 1,001–5,000 were mint green. Each of these rare tiers came with unique benefits such as liquidity mining multipliers and airdrop rewards.

We have seen incredible traction from our Method NFTs with currently over 4,600 minted, which has helped propel us to as high as #24 on the OpenSea top NFTs rankings, ahead of projects like Beeple and Cryptokitties.

🚀 Method LP Staking launch: On April 14th we launched our MTHD:ETH LP staking functionality. This was a proof of concept that showed the ability to stake to our Method NFT Vaults and also provided an opportunity to reward early adopters.

Even now, at 2 weeks post-launch, our liquidity miners are continuing to see extremely high APY, including ~1,500% APY on our platinum NFTs at the time of this writing.

As a reminder, phase 1 of our program ends on May 13th

🚀 Method Airdrop Rewards launch: On April 28th, we launched our airdrop rewards program, in which holders of Method NFTs would begin receiving a weekly airdrop of MTHD tokens.

Similar to LP staking, this was an opportunity for us to demonstrate our single-sided ERC-20 token staking/unstaking while simultaneously rewarding our early adopters.

📈 MTHD Token: While the team does not speculate on the price of the MTHD token, it is worth pointing out that we have over 1,330 unique MTHD holders and have spent a great deal of time within the top 1,000 tokens by market cap on CoinGecko. For a project as early as ours, this is an impressive trend.

📈 Community growth: In addition to some of the stats laid out above, we’ve also seen promising growth across our other channels including close to 3K followers on Twitter, 1.4K members on Discord and 1.8K on Telegram.

Near-term Roadmap Preview

For as impressive as our first few weeks have been, what most excites us is that we are truly just getting started as a protocol. In the near future, we will be delivering several new features that will bring Method to the next level. We wanted to give you a quick preview of 2 of them now and will be releasing dedicated blog posts on both of these features to dive into more detail.

Method vault upgrade

Since the release date of our original roadmap, the DeFi space has continued to evolve. One of the most notable changes on the horizon is that Uniswap V3 (among others) is changing their LP representation from the ERC-20 standard to the ERC-721 standard (NFTs).

Acknowledging both the new and exciting use cases these changes present, as well as the overwhelming interest from our community, we will be upgrading our vaults to be compatible with Uniswap V3’s NFTs. We believe users should be able to safely lock up any asset that they own, so upgrading our vaults to enable ERC-721 locking/unlocking is a logical step.

In addition to this, our team is actively exploring vault integrations with Univ3’s Periphery contracts and other potential Uni V3 use cases.

Polygon prioritization

Up until this point, our team has been heavily focused on getting our own foundations solidified. This included building our vaults, creating a distribution contract, implementing our own staking and airdrops for early adopters, and growing our internal community.

Now it’s time for us to take the next step by expanding to Polygon and partnering with other protocols built on top of it. We believe Polygon includes a myriad of benefits including:

Speed/Cost

• We want our users to use their vaults however they best see fit. To facilitate this, speed and low fees are a must. Polygon answers both, with a blistering 7,000 transactions per second. This means our vault users will have transactions executed within seconds at gas costs of less than a penny.

Community

• Polygon has shown tremendous growth in the past few months. As of today, the total wallet holders are approaching half a million with over 32 million transactions already executed.

Partnerships

• There are many existing and new protocols popping up on Polygon daily, which could benefit from the security of our vaults or our reward distributions. Our team is actively pursuing and finalizing partnerships that we believe fit with our vision.

We will be providing more details around our Polygon plans and partnerships in a stand-alone article coming soon.

Method Marketing, Community & Comms

We would also like to comment on a few ongoing suggestions from the community. The first is around our marketing strategy. Up until now, we have relied primarily on organic marketing, however, we have begun to lean into our paid marketing strategy.

If you (or anyone that you know) are a designer, creator, or audience builder please DM us on Twitter/Discord/Telegram to discuss opportunities.

Secondly, we also wanted to point out some of the improvements we are making to our Telegram & Discord. Due to our rapid growth, the team has taken steps to help our community and comms scale in a sustainable way.

On Discord we have onboarded 2 community moderators to start: unclemike and Bob Sacamano. And on Telegram we’ve added eLaPs and Fru$ciante as admins. If you’re interested in becoming a community moderator or Telegram admin, please shoot us a DM and we will let you know when new opportunities arise.

At times, the core team may need to divert more attention towards building and less time on responding to one-off questions from the community. During these periods, we will be leaning on our community moderators/admins to help guide the community, and we will also turn to more scalable channels (Medium, Twitter, #Announcements in Discord) as our primary communication means.

A brief note on competitors

To conclude this article, we also wanted to make a comment on our “competitors”. We’ve had a lot of questions from the community asking how we differ from other protocols that are operating in the same general space as Method.

More often than not, this question is usually being asked by those that don’t DYOR, as our roadmap and articles speak to the differences vs other protocols' roadmaps. However, more generally we wanted to speak to our philosophy towards competition as a team.

Twitter user @noahseidman, had a tweet that accurately encapsulates our viewpoint on this topic 👇

Part of what has made crypto such a special community is the openness of the projects operating in it, whether it is by making code open-source or allowing for the natural free flow of ideas. The best protocols recognize that at this time, DeFi is far from a zero-sum game.

We are excited to see multiple projects pushing the industry towards a vision that we believe in, and we will continue to chart our own path while helping push these macro trends forward.

Thank you all for taking the time to read this article and we will touch base with you all soon with the detailed articles for the 2 roadmap areas we listed above.

-The Method Finance Team