2023 was the inception year for Lucidity, where the key focus for the team was putting the fundamentals in place:

• Identifying the problem statement

• The team coming together

• Publishing the whitepaper and website

• Initial user feedback and waitlisting

• Soft launch and fixing the kinks before the Alpha launch

We have been gearing up for what promises to be an exciting year for DeFi and wanted to share what we’ll be building over the year.

The primary goal for Lucidity in the year 2024 is achieving product-market-fit, and we aim to do that through multiple parallel initiatives. Sharing a quarterly breakdown of our goals for the year:

For the first quarter, we’ll be focusing hands-down on launching the product, starting on the Ethereum mainnet, and expanding integrations across the L2 ecosystem.

• Alpha launch

  • Internal product testing and security audit

  • Mid Q1: Launch on Ethereum mainnet for the waitlisted users

  • Aggregate leverage liquidity across Aave v2/v3, Compound v2/v3, Morpho Aave/Compound, Liquity, and MakerDao on Ethereum mainnet

  • Scalable UX design to support integrations/features expansion

• v1 Launch

  • End of Q1: Extend access to non-waitlisted users based on a referral program

  • Add automation strategies: Liquidation protection, auto-refinance, leverage looping, collateral/debt swaps, etc.

• Key growth metrics

  • Loan origination/management volumes

  • Daily/monthly active users

The focus for the second quarter will be expanding the integrations and utilities for v1, coupled with research and development efforts to evolve the recommendation engine into an ML-based model to be able to make personalised recommendations.

• Integrations

  • Cross-chain: starting with the L2 ecosystems including Arbitrum, Polygon, Optimism, Base, Mantle, etc. - in no fixed order

  • Lucidity architecture has been designed in a chain-agnostic manner to make onboarding new ecosystems easier and faster

• Utility

  • Protocol-specific features: support of extra features within each onboarded protocol (ex: E-mode, Portal, etc on Aave)

  • Position management

    • add more automation strategies based on user-feedback

    • support gas sponsorships, social logins, etc through AA

• Research

  • Academic research on privacy-preserving recommendation systems based on wallets’ transaction history

  • Feature engineering and predictive model development to assess various risk parameters

• Key growth metrics (in addition to Q1 metrics)

  • TVL for automation strategies

While v1 majorly focuses on solving for fragmented liquidity through a layer of integrations, Lucidity v2 will extend the focus to capital efficiency and improving UX for cross-chain leverage. Focus areas for Lucidity in the second half of 2024:

• Discovery engine

  • Machine learning algorithm to make personalised leverage discovery and management recommendations to users based on their historic on-chain activity

  • The engine’s outputs are strictly aimed to complement the user’s own research and management activities, and not act as financial advice

  • The engine is envisioned to further evolve into a borrower risk profiling model

• Utility

  • Add features such as cross-chain collateral vaults, strategy marketplace, position health insurance, open liquidation pool, etc.

  • We had briefly covered some of these features in our whitepaper, but these are still open research topics; we will share more on these as we get closer to the v2 launch

• Composability: Lucidity SDK

  • Enable other DeFi protocols to directly integrate the recommendation engine, automation strategies, access leverage liquidity across multiple lending protocols and chains, etc. in a modular fashion

  • Developer platform to support and incentivise all such integrations and contributions

Given the early stages of development, a lot of the above goals, especially in the second half of 2024, are relatively open-ended and might shift shape and form based on community response. But one thing that will never change shape is our commitment to building consistently based on user feedback.

Again, the single most important mission for Lucidity this year is to achieve PMF, and the only way that can be done is through brutal feedback and iteration loops.

Hence, we invite the community to join us along the ride, and together build for Clarity, Control, and Convenience!

2023 was the inception year for Lucidity, where the key focus for the team was putting the fundamentals in place:

• Identifying the problem statement

• The team coming together

• Publishing the whitepaper and website

• Initial user feedback and waitlisting

• Soft launch and fixing the kinks before the Alpha launch

We have been gearing up for what promises to be an exciting year for DeFi and wanted to share what we’ll be building over the year.

The primary goal for Lucidity in the year 2024 is achieving product-market-fit, and we aim to do that through multiple parallel initiatives. Sharing a quarterly breakdown of our goals for the year:

For the first quarter, we’ll be focusing hands-down on launching the product, starting on the Ethereum mainnet, and expanding integrations across the L2 ecosystem.

• Alpha launch

  • Internal product testing and security audit

  • Mid Q1: Launch on Ethereum mainnet for the waitlisted users

  • Aggregate leverage liquidity across Aave v2/v3, Compound v2/v3, Morpho Aave/Compound, Liquity, and MakerDao on Ethereum mainnet

  • Scalable UX design to support integrations/features expansion

• v1 Launch

  • End of Q1: Extend access to non-waitlisted users based on a referral program

  • Add automation strategies: Liquidation protection, auto-refinance, leverage looping, collateral/debt swaps, etc.

• Key growth metrics

  • Loan origination/management volumes

  • Daily/monthly active users

The focus for the second quarter will be expanding the integrations and utilities for v1, coupled with research and development efforts to evolve the recommendation engine into an ML-based model to be able to make personalised recommendations.

• Integrations

  • Cross-chain: starting with the L2 ecosystems including Arbitrum, Polygon, Optimism, Base, Mantle, etc. - in no fixed order

  • Lucidity architecture has been designed in a chain-agnostic manner to make onboarding new ecosystems easier and faster

• Utility

  • Protocol-specific features: support of extra features within each onboarded protocol (ex: E-mode, Portal, etc on Aave)

  • Position management

    • add more automation strategies based on user-feedback

    • support gas sponsorships, social logins, etc through AA

• Research

  • Academic research on privacy-preserving recommendation systems based on wallets’ transaction history

  • Feature engineering and predictive model development to assess various risk parameters

• Key growth metrics (in addition to Q1 metrics)

  • TVL for automation strategies

While v1 majorly focuses on solving for fragmented liquidity through a layer of integrations, Lucidity v2 will extend the focus to capital efficiency and improving UX for cross-chain leverage. Focus areas for Lucidity in the second half of 2024:

• Discovery engine

  • Machine learning algorithm to make personalised leverage discovery and management recommendations to users based on their historic on-chain activity

  • The engine’s outputs are strictly aimed to complement the user’s own research and management activities, and not act as financial advice

  • The engine is envisioned to further evolve into a borrower risk profiling model

• Utility

  • Add features such as cross-chain collateral vaults, strategy marketplace, position health insurance, open liquidation pool, etc.

  • We had briefly covered some of these features in our whitepaper, but these are still open research topics; we will share more on these as we get closer to the v2 launch

• Composability: Lucidity SDK

  • Enable other DeFi protocols to directly integrate the recommendation engine, automation strategies, access leverage liquidity across multiple lending protocols and chains, etc. in a modular fashion

  • Developer platform to support and incentivise all such integrations and contributions

Given the early stages of development, a lot of the above goals, especially in the second half of 2024, are relatively open-ended and might shift shape and form based on community response. But one thing that will never change shape is our commitment to building consistently based on user feedback.

Again, the single most important mission for Lucidity this year is to achieve PMF, and the only way that can be done is through brutal feedback and iteration loops.

Hence, we invite the community to join us along the ride, and together build for Clarity, Control, and Convenience!