Weekly update on development process (Jan 3, 2022)

Shield Finance ($SHLD) is developing Coliquidity — a new way to trade crypto. Subscribe to Telegram / Twitter to get notified about early access.

Weekly progress

  1. 👬 Designed a marketing-based motivation system for team members. The basic idea is to pay for marketing messages, not for code. So expect more social media activity from us ;) Of course, the messages must be valuable for users: they must describe new features or explain how to use existing features.
  2. ⚒ Improved the setClaimsTask to handle smart contract balances (work-in-progress).
  3. ⚒ Improved the landing page on dev host (work-in-progress).
  4. 🔄 Migrated from LastPass to 1Password due to multiple reports of compromised master passwords. Please note: as of Jan 3, 2022, there is no indication that any of our properties were accessed by attackers. However, we decided to migrate anyway to minimize the risk.

P.S. Happy New Year!

Lessons learnt

  1. The salary system is broken: it pays people for their time, not for their work. It underpays the most productive employees & overpays the least productive employees. The productive employees can renegotiate salaries based on their performance, but in practice they rarely do — the productive employees would rather do the actual work than negotiate stuff.
  2. The problem would be solved if we had an objective metric of a programmer’s productivity. However, a lot of people have tried to find it before, and they haven’t, so we should not spend our time on that. Instead, we have to look for alternative pay negotiation systems.
  3. One such system is found on freelance marketplaces. It’s a bid-auction system where a client posts a job, and the freelancers post their bids (how much they want to get paid for this job).
  4. This system moves the risk from the client to the freelancer. However, this has an effect of filtering out the best freelancers, because they don’t want to bear the risk, and they are so obviously good that clients are willing to give them salaries instead of fixed payments.
  5. We need to hit a sweet spot: hire the employees who are not-so-obviously-good (otherwise the big companies with bigger budgets would propose a bigger salary / larger total compensation), but who are good enough for our tasks.

Scaling the team is an important step towards reaching more users, so we’ll continue thinking about it.

Next week’s focus

  1. ⚒ Finish the landing page.
  2. ⚒ Continue writing the script for migrating the balances & liquidity from ETH to BSC (SHLD to COLI).

If you have questions about our progress, please send them to the special group. This week we will host an “asynchronous” AMA — we will answer the questions and post a recording on Wednesday. We feel that such a format is better for internal community Q&A, because it allows the participants from all timezones to send the questions in advance & listen to recordings separately.

About Shield Finance

Shield Finance ($SHLD) allows users to make more money using Coliquidity, which allows them to bank on uptrend & collect LP fees at the same time. If you want to get notified about early access to our product, please follow our Telegram & Twitter. If you want to trade the $SHLD token, use Uniswap or DEXTools.

For any questions about Shield Finance, please reach out to us on:

Website: shieldfinance.io

Telegram: @ShieldFinanceHQ

Twitter: @ShieldFinance

Reddit: r/ShieldFinanceHQ

Medium: @ShieldFinanceHQ

YouTube: Shield Finance

$SHLD token: Uniswap + DEXTools

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Fairpool

Fairpool is a DEX for personal tokens. Create your token & receive royalties from trading volume. Increase volume by offering dividends / selling content.