Yeld Collateral Decreasing Loans dApp release process

In this short article you’ll see how we plan to release the dApp in order to create a strong impact while also ensuring security as much as possible. If you’re not familiar with the YELD CDL Lending dApp, read this article first: https://yeld.medium.com/yeld-april-development-update-4360b2c89ba8

1. An initial audit by a reputable company: Even though audits are not perfect solutions for smart contract security, we believe it will help detect important issues early on while also giving users trust into where they are putting their money on.
2. Give access to private group members: While the loan dApp was being developed, we created a private group for those that want to help spot bugs and improve the functionality of it. They will be the first ones to be able to interact with the dApp live before anyone else. If you want to be a member, simply fill this form and you’ll be added to the private telegram group: https://forms.gle/pChnSq2BqcCqwQJe6
3. Conduct a bug bounty: This will help further secure the smart contracts while they are being heavily interacted with by the users.
4. Release the dApp with warnings: The dApp will be released along with some influencer marketing and the likes to promote the launch with potentially some extra rewards to early users. It’s important that people understand that this is entirely new code and there’s always risk, that’s why we have to include warnings wherever they make sense.
5. Final release: This is when the dApp has been out for a while, proven to be secure by lots of users that have successfully interacted with the frontend and smart contracts. At this point the dApp will be officially released as the complete version.

Note that during this entire process there will be constant bug fixes and improvements to build the best lending dApp possible in the current DeFi market including new versions with important features for future updates.

All this will be possible thanks to the community that has supported the YELD project all the way from the beginning. Let’s continue making the blockchain technology better.