Dear Community and Investors,
Welcome to the 17th Project Update from Data Lake! Before diving into our latest progress updates, we want to share an important change in our communication approach. We are shifting from monthly to quarterly project updates. This means that instead of receiving a monthly update, you can anticipate our next report in December, at the end of Q4. This transition allows us to compile more comprehensive and insightful information, enhancing the quality of our newsletter while minimizing information overload.
This said, let’s see what has been achieved by our team during last September!
💪 First product Based on Data being worked on!
In 2023, our vision for Data Lake extended beyond our role as medical data broker: while we excel in collecting medical data and facilitating their exchange, we are now expanding our horizons to become a comprehensive solution provider, a firm poised to offer not only medical data, but also products built on top of them.
In this regard, we are proud to announce that we are currently working on Data Lake’s first product built on top of our medical data! While we cannot unveil the details of this project yet, we are excited to anticipate that we are already processing the medical data needed for us to realize our report.
📊 New distribution unveiled
On August 23rd, we made a major announcement, disclosing the execution of the burn of 66.67% of the total supply of $LAKE. This substantial token burn has affected several of the initial allocations, and therefore has inevitably resulted in the establishment of a new distribution framework for $LAKE.
To provide more clarity, we have shared a blog article on the topic, which you can read by clicking here, as we are proud to present you the updated table representing the post-burn allocations:
🏄♂️ Update and Tutorial on the LP Incentives Program!
The LP Incentives Program has now been live for more than a month. In case you missed it, 60 million $LAKE tokens are being distributed to those who provide liquidity for the $LAKE-ETH pair and stake their LP position on our dapp. Click here to read the details of the program, T&C apply.
After listening to our community’s feedback, we have released a comprehensive step-by-step tutorial that guides you through the process of becoming a Liquidity Provider and staking your LP position to begin receiving your share LAKE rewards associated with the program. Click here to read it.
For reference, the estimated APR (paid in $LAKE) for those who stake their LAKE-ETH LPs on app.data-lake.co is sitting at 502.77% at the time of publishing
🔚 Closing Thoughts
And that was all for this update full of news on the token point of view as well as on the business side. Please be reminded that the next project update is scheduled for December, and we are confident that it will bring new substantial, insightful, and meaningful information on our progress.
As we look ahead to the coming months and the changes they bring, we are excited about the future of Data Lake and grateful for your continued trust and partnership.
Thank you for being a part of the Data Lake community,
The Data Lake Team