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Hey community!
Today, we want to share an important update on our launch path, and why we believe it puts the protocol in a much stronger position for the future.
As you may know, security has always been one of our strongest commitments. Over the years, we’ve invested millions into audits across our protocols and even launched, at one point, the largest bug bounty in the world.
Geneva is shaping up to be the version that truly represents the long-term foundation of the platform. It brings a stronger architecture, improved risk controls, maximum capital efficiency, and a more scalable base for what we believe can become one of the core layers of the next generation of DeFi.
Because of that, we’ve decided to focus our resources on making Geneva the platform’s first major permissionless release, while keeping V1 in permissioned beta until then.
This is a strategic decision. Rather than pushing V1 toward a permissionless release shortly before entering another major audit cycle for Geneva, we believe the best path is to concentrate our audit, engineering, and security efforts on the version that will define the protocol long term.
This also follows careful discussions with our team, auditors, and key TVL partners, all aligned around the same objective: making sure the protocol reaches the level of robustness and confidence expected before opening more broadly.
The DeFi security landscape is evolving at an unprecedented pace. Protocols across the industry are being targeted and exploited almost daily, and the curve is accelerating as new tooling, including AI-assisted vulnerability research, raises the standard for every complex system.
In that context, we believe discipline is a strength, and patience is key. Our responsibility is to protect users, partners, and the community while building a product that can scale safely.
Importantly, this does not mean the beta is slowing down. Quite the opposite.
We will continue shipping new features, improving the product, and expanding what users can already do on the platform.
This includes a new version of our hybrid aggregator, designed to push our swap module toward becoming one of the best in the world, peer-to-peer lending pair integrations, additional USDN versions currently under research, and many other improvements already in the pipeline.
Eva, our AI, will also keep moving forward. We have exciting updates coming soon, including developments that we believe can turn Eva into a truly viral tool for the ecosystem. More on this very soon.
So the direction is clear: V1 remains permissioned during beta, Geneva becomes our first major permissionless release, and the beta continues to ship fast.
We believe this is the best way to deliver the safest, strongest, and most capital-efficient product possible for our users, partners, community, and ecosystem.
The mission has not changed. We are building the foundation for the next generation of DeFi, and Geneva is the next major step toward that vision.
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