Hawksight Weekly Progress & AMA (12th May ’22)

Hawksight | Solana DeFi Navigator

4 min readMay 12, 2022

✅ Product updates

Launched an improved NFT staking page and started $HAWK rewards distribution. And more importantly did a team-wide retro of process improvements in scoping complexity of developments, timeline estimations, rigorous testing, and frequent updates with community. We took learnings from the NFT staking hiccups to streamline a lean mean organization to gear up for DeFi mainnet launch.
Actively monitoring and being cautious about the developments of Terra, Hawksight has always had its eye on a multichain future and strategic optionality. We are focusing on building out automated DeFi strategies on Solana first, while pausing & monitoring Terra, and also fast-forwarding exploring other chains that we had in mind further down the roadmap, such as NEAR among others.
Given the adjustments needed to focus on Solana and pause Terra, as well as enhanced product testing processes, we will push back the DeFi app mainnet launch for Team & Contributor usage by 1–2 weeks, which will subsequently be rolled out to OG community members, followed by global public rollout with ramped up marketing campaigns and potential new CEX listings.
Continued parallel development of Hawksight Degen Pool: no-loss DeFi pool game to boost DeFi adoption by making DeFi fun & engaging. Expected beta launch: Q3–2022
Planning gating system of Hawksight utilities (Trading & social signals) to NFT holders only, via a freemium model, whereby basic-features are free to public (to attract a wide funnel of users), while full-features require NFT staking (to convert new users to purchase and drive value to NFTs)

✅Growth & Business Development updates

Communication & coordination on NFT staking with community partners
Strategic planning to ramp up big marketing campaigns & competitions on Twitter, Discord, and Telegram for global public rollout of DeFi mainnet
Q&A on funding: TLDR we’re all good👌.We are well-capitalized to weather long-term market volatility given that our main funding was from a (stablecoin+fiat) seed round from earlier strategic backers, not the NFT mint (SOL+LUNA).

👀Find out more about our recent announcement: Hawksight Degen Pool: Gamifying DeFi while rewarding NFT holders

🙌Key Community Q&A

1. Given current market conditions, what automated DeFi strategies does Hawksight plan to launch?

We plan to automate the following core DeFi strategies, which are suitable for all types of markets:

Solana automated yield-farming (Integration with Saber & Sunny first, then several more leading Solana yield farming protocols in the roadmap).
USDC & stablecoin yield farming (Coming soon)

Imagine a “Jupiter Aggregator for Yield Farming” that automatically lets users yield-farm based on selected parameters to optimize (e.g. yield, liquidity, etc)

2. Which L1 chain or protocol is Hawksight planning to expand to besides Solana? Can the community vote on it?

We will focus on launching and growing on Solana first, for both our DeFi vaults and gamification features (See Hawksight Degen Pool Medium article), while opportunistically eyeing other chains such as NEAR depending on community feedback and technical feasibility studies.

3. How will Hawksight Degen Pool GameFi rewards be rewarded to NFT holders?

Hawksight Degen Pool’s 67% revenue-share with NFT holders is planned to be rewarded in USDC, in the same spirit of simplicity as Hawksight’s automated DeFi strategie vaults, whereby users can simply deposit and withdraw UDSC.

4. What is the latest up on Hawksight’s NFT staking issues?

While fixing and improving the NFT staking platform, we are exploring to extend $HAWK rewards for users who encountered issues staking Hawksight NFTs.

What is Hawksight?

Hawksight is a DeFi super-app for Everyone. Simply deposit USDC to automate DeFi strategies and earn profit-optimized yield on Solana. Or make smarter investment decisions using our superapp’s AI-driven trading signals, social signals, DeFi-NFTs, and GameFi utilities. Hawksight is backed by Solana Ventures.

Passive investors can simply deposit USDC to automate DeFi strategies to earn capital gains and profit-optimized yield on Hawksight.

While Active investors can access AI-driven trading and social signals to make smarter trading decisions

Hawksight’s mission is to make DeFi yield accessible to Everyone — and we are tackling this mission with 3 (three) strategic launches:

DeFi app with 1-click automated DeFi yield strategies
DeFi-NFTs to “mint” first-time DeFi users
GameFi Degen Pool to make DeFi more accessible, engaging, and rewarding to users (especially NFT holders)