VOID Protocol — Progress Update 4

4 min readMar 7, 2022

Development update

Since our last update, the Void team have again been working extremely hard to make progress. As of progress update 3 we had to reassess our timeline due to the development of the ZK-snark library which is required for the platform to be secure and decentralized.
We are very pleased to say that all our developers, led by Gungod, have achieved the implementation of ZK-Snarks for the Void platform! Once it was complete, we immediately sent in our ZK Library for audit, which you can read more about below.

Whilst the ZK Library was in for audit, our back-end devs switched focus to the airdrop logic and finalizing some contracts around the rewards mechanisms, and our front-end dev has been focusing on getting our website ready.

ZK Library Audit

We decided to have our ZK Library audited independently of the rest of the Void platform. There are a couple of reasons as to why. Firstly, before we continued to build around this feature, we wanted to ensure that we were building around a solid code library. Secondly, Void aims to open-source key components of our code, and the ZK Library will be one of them.

We received a few quotes for this audit. One of the major factors in our choice was time, as we could not afford to wait months to have it done. We chose TerraSCV, who were recommended to us by several prominent figures in the space.

We are extremely happy to say that we have received the audit back, with 0 critical flaws and only some minor recommendations around best practices and documentation.

You can view the published audit here.

Website Launch

We had hoped to have our website live in February, however, due to the issues with the ZK Library, we reallocated our front-end dev’s time towards helping the back-end developers complete that. It was our primary focus to complete that in a timely manner, and since that has been completed, focus has been back on the website, so…

It is now live! Head to voidprotocol.io to check it out!

POL/Treasury Add

An important topic of discussion in our Discord channel recently has been about Protocol Owned Liquidity (POL). The Void team is partial towards POL, as it can be used to aid with longevity of the platform during times of recession. POL can also go a long way towards achieving price stability, as Void would gradually accumulate a higher percentage of the liquidity pools.
The objective of the discussion was to gauge the community’s thought on this, then to figure out from where to allocate the Void Tokens required to set up a POL mechanism.

The community decision was virtually unanimous for POL. As for token allocation, it was decided that Void will no longer have a fortnightly airdrop. The involved community members all agreed that the benefit of POL is much greater for Void than the fortnightly airdrop, since Void is already allocating 15% of the token supply towards the genesis airdrop — still one of the largest in the Terra community.

The 5% of reallocated Void tokens will not be going directly to POL mechanisms just yet. To begin with, it will go to the governance treasury, after the governance goes live there will then be a vote on the exact mechanisms the governance would like implemented for POL.

Here are our updated Tokenomics, which you can also see on our website.

NFT Auction Basket

Finally, our Angel Protocol NFT Charity Auction will be being held this month! We have been working hard to make a meaningful contribution to the Angel Alliance, and to achieve this, we have been gathering NFT donations from a number of prominent projects on Terra.

As a little teaser, we can gladly share with you our first 1/1 NFT created for us by TerraWolves(https://twitter.com/TerraWolvesNFT) as a contribution to the auction. 🎉

The auction will be hosted on Luart towards the end of March — exact date/time will be coming very soon! Stay tuned on our Twitter and Discord for announcements!