Monthly Update: May 2024
Welcome to the first update for May 2024! Let’s explore this month’s news and future prospects together.
New Team Member & Advisor
The AudaSynth team has welcomed a new member: Sanjana, a full-stack developer who will mainly focus on front-end development for the platform. Additionally, Marco, a business analyst collaborating with PoliHub (the incubator of the Politecnico di Milano), has joined us as our first advisor.
Development Updates
During May, the development was concentrated on the UI components and their integration into the backend. On the backend side, there were coding improvements regarding the market-maker logic behind the synthetic tokens. At the moment, AudaSynth supports market orders with oracle-based pricing. In June, the team expects to perform internal testing on the beta version and fix any bugs.
Business Updates
The AudaSynth business plan has been approved by the Piedmont Region, which will provide extra funds as reimbursement for the company’s incorporation costs in Italy. A panel of experts has confirmed the solidity of our project, and we expect to establish AudaSynth in Italy in June.
Legal Updates
The AudaSynth team is in contact with a law firm specializing in financial regulation. The firm is analyzing our business model and European regulations to prepare the company’s incorporation and bureaucratic procedures. This process also includes the phase of the AUDA tokensale, with further details to follow.
Marketing Updates
An airdrop and a contest are planned for the beta platform launch. We are preparing promotional materials for social media and major news sites. More information about the airdrop will be available at the official announcement.
Follow AudaSynth on Twitter and Telegram to stay updated!
Twitter/X: https://twitter.com/AudaSynth
Telegram Channel: https://t.me/audasynth_ann
