At Piggylet, we believe in continuous evolution and adaptation. We pride ourselves on our commitment to listening to our community and ensuring that our platform provides an intuitive and efficient experience. Recently, we rolled out a set of updates to our Testnet based on invaluable user feedback. Here’s a deep dive into what changed:

1. Enhancing the Loan Request Flow

Previously in our system, users could input a loan request that exceeded the maximum loan amount, which then redirected them to Metamask. This could be a bit confusing and not very user-friendly. Our focus has always been to make the process seamless, so we’ve implemented a fix for this.

What’s New?

Before any redirection, if a user attempts to request a loan amount greater than the permitted maximum, they will now receive an immediate on-screen error message: “loan request cannot be greater than max. loan amount.” This ensures clarity and prevents any unnecessary steps or confusion.

2. Clarifying Bid Tokens

In our bid system, we noticed an inconsistency. The warning, regardless of the token type involved, always prompted users to approve USDC. We realized the potential for confusion here.

What’s New?

To make our platform token-agnostic and more user-friendly, we’ve changed the message to the more generalized “Approve for Token Payment.” This ensures users are clear about the process without tying it specifically to any token type.

Now, we are using more general definition.

3. Augmenting the Token Claim Limit

Our users are central to our platform’s success, and their experience is our priority. Based on feedback, we discovered that the current maximum token claim limit of 1,000 tokens in the Testnet was limiting for users, especially considering that Gem NFTs allowed for a loan request of up to 18,000 USD.

What’s New?

To simplify the process and improve user experience, we’ve decided to increase the token claim limit. Specifically, for stable tokens, users can now claim up to 20,000 tokens. This adjustment should significantly reduce repetitive actions and make the process more efficient.

Enjoy 20x more Piggylet Testnet Tokens!

Do you want to join Piggylet community, be part of Piggylet’s improvement and provide us feedback? Join Piggylet Discord!

What’s Next for Piggylet?

Our journey doesn’t stop here; in fact, it’s just getting started! Here’s a sneak peek into the roadmap ahead:

1. Liquidation Mechanism and Marketplace Development

We’re proud to announce that the majority of the liquidation mechanism and marketplace development has already been completed. What remains is a crucial piece: the user experience design. Our team is ardently working on refining the UX to ensure that when we deploy to the Testnet, users find a seamless and intuitive interface that elevates their experience.

2. PiggyPass NFT Collection Smart Contract

While we’re heavily engrossed in improving the core platform, we haven’t forgotten our own NFT collection! As such, we are diving into the development of our very own NFT collection’s smart contract. This isn’t just any collection; PiggyPass NFT will come with utilities that are usable on Piggylet. We plan to release PiggyPass NFTs before our platform launch.

Want to catch up on all updates about Piggylet Platform and PiggyPass NFT Collection? You are welcome to our Twitter or… X!

3. Countdown to Going Live!

With the next update to our Testnet — featuring the liquidation mechanism and marketplace — and the release of our unique NFT Collection, we’ll be gearing up for our official launch. Yes, you read that right! Once these milestones are achieved, Piggylet will be ready to go live and make its mark in the decentralized finance universe.

Closing Thoughts

Your feedback drives our evolution. It’s through this iterative process of trial, feedback, and improvement that we refine Piggylet into a platform that truly meets the needs of our community. We’re excited about these changes and are always open to further suggestions. Together, let’s shape the future of NFT-Backed Lending!

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To learn more about NFT-backed lending platform usage, you can also gain hands-on experience using test NFTs and tokens on Piggylet Testnet!