Building web3 #AA @alchemyplatform, investing and writing @l2iterative, ex protocol builder @harmonyprotocol @klaytn_official, ex @meta, cs
Building web3 #AA @alchemyplatform, investing and writing @l2iterative, ex protocol builder @harmonyprotocol @klaytn_official, ex @meta, cs
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A Decentralized System of Vault Creation, Maintenance and Governance.
A decentralized platform providing for the permission-less proposal, execution and monetization of vault strategies where vaults are community owned.
Community vaults execute strategies and direct assets designed and governed by users represented in social communities as (𝐘, 𝕪).
Protocol designed for long-term, sustainable yield generation.
Encourages the crafting of strategies that utilize the assets and services of existing protocols to generate sustainable yield, while keeping reliance on reward emissions to a minimum.
Aims to be the harbinger and gateway for a more open, accessible and sustainable era of TeFi.
Terra ecosystem lacked a community-focused mechanism to deploy and monetize strategies
“Inventors” had no real incentives to innovate and improve upon the current strategies present in the Terra ecosystem.
Whether vault strategies are actualized relies on the approval and actions of only a few individuals.
YFD Solution: a platform for any community member to propose a vault strategy via vault governance process:
Vault Proposal and Execution Governance Process
Performance Fee Sharing
Community Guidance and Support
Tools and Developer Access
Problem 2: Misaligned Incentives Between Vault Platforms, Underlying Protocols, and Users
In the current TeFi ecosystem, protocols and users have misaligned incentives, creating the everlasting chase for the highest yields at the detrimental cost of long-term sustainability of the broader ecosystem.
Such friction points are most evident in high-APR auto-compounding farms that create persistent sell pressure on the underlying farm token.
Example: The effect on Mirror LP APRs following the reduction in MIR emissions and the collapsing price of the token.
YFD Solution: YFD aims to implement vault strategies that do not rely on farming tokens to generate consistent yields. Strategies which:
Add value and drive revenues to the underlying protocols incorporated into YFD vault strategies.
Generate yields that can be sustained in perpetuity.
Encourage inter-protocol/DAO cooperation
All-weather hedge strategy that aims to generate sustainable yields in either bear or bull markets
Provides protection against market volatility while retaining most of the upside potential using deposited UST or mAssets.
UST product aiming for efficient risk-adjusted returns on UST stables by providing an additional function compared to conventional leveraged short positions
The strategy achieves this improved yield by utilizing leveraged self-repaying “loans”.
In essence, Shielded Shorts combines borrowing and automatic repayment of the debt position to reduce leverage over time.
Design goal: aligning the incentives of YFD holders, the protocol will be able to withstand external pressures while creating value through the cumulative efforts of the DAO.
$YFD’s token economics is narrowly directed towards accruing value to the two most important groups participating in the project: its day-to-day users and governing stakeholders.
Accomplished via the distribution of tokens heavily favoring the above two groups, and the design of fYFD points (Forge YFD Points).
$YFD token holders will be able to lock their $YFD for a fixed period of time in exchange for non-transferable fYFD points.
As time passes, fYFD points degrades their efficacy (in terms of rewards produced).
$YFD token holders must re-lock in order to maintain the optimum reward rate.
The dilution of $YFD tokens via emission is balanced and negated by $YFD being taken out of circulation via locking.
Max supply of 2,000,000,000 (2 billion) $YFD tokens
Treasury: 15% (At launch, 15% to treasury)
Of this 15%, anywhere from 8% to 10% will be utilized for purposes of the $YFD liquidity bootstrapping pool.
Vault Users: 44%: distributed as rewards across YFD vaults.
$YFD Lockers: 11%: distributed pro-rata to lockers’ shares of all outstanding fYFD points.
Community: 6.0%: reserved for community farming events and select airdrops.
Genesis Team: 11%: 3-month cliff, followed by 27 months of vesting (total of 30 months).
Private Investors: 10%: 0.5% released at TGE (token generation event), followed by 18 months of vesting.
Team Development Fund: 3%
Upcoming launch planned Q2 2022
A Decentralized System of Vault Creation, Maintenance and Governance.
A decentralized platform providing for the permission-less proposal, execution and monetization of vault strategies where vaults are community owned.
Community vaults execute strategies and direct assets designed and governed by users represented in social communities as (𝐘, 𝕪).
Protocol designed for long-term, sustainable yield generation.
Encourages the crafting of strategies that utilize the assets and services of existing protocols to generate sustainable yield, while keeping reliance on reward emissions to a minimum.
Aims to be the harbinger and gateway for a more open, accessible and sustainable era of TeFi.
Terra ecosystem lacked a community-focused mechanism to deploy and monetize strategies
“Inventors” had no real incentives to innovate and improve upon the current strategies present in the Terra ecosystem.
Whether vault strategies are actualized relies on the approval and actions of only a few individuals.
YFD Solution: a platform for any community member to propose a vault strategy via vault governance process:
Vault Proposal and Execution Governance Process
Performance Fee Sharing
Community Guidance and Support
Tools and Developer Access
Problem 2: Misaligned Incentives Between Vault Platforms, Underlying Protocols, and Users
In the current TeFi ecosystem, protocols and users have misaligned incentives, creating the everlasting chase for the highest yields at the detrimental cost of long-term sustainability of the broader ecosystem.
Such friction points are most evident in high-APR auto-compounding farms that create persistent sell pressure on the underlying farm token.
Example: The effect on Mirror LP APRs following the reduction in MIR emissions and the collapsing price of the token.
YFD Solution: YFD aims to implement vault strategies that do not rely on farming tokens to generate consistent yields. Strategies which:
Add value and drive revenues to the underlying protocols incorporated into YFD vault strategies.
Generate yields that can be sustained in perpetuity.
Encourage inter-protocol/DAO cooperation
All-weather hedge strategy that aims to generate sustainable yields in either bear or bull markets
Provides protection against market volatility while retaining most of the upside potential using deposited UST or mAssets.
UST product aiming for efficient risk-adjusted returns on UST stables by providing an additional function compared to conventional leveraged short positions
The strategy achieves this improved yield by utilizing leveraged self-repaying “loans”.
In essence, Shielded Shorts combines borrowing and automatic repayment of the debt position to reduce leverage over time.
Design goal: aligning the incentives of YFD holders, the protocol will be able to withstand external pressures while creating value through the cumulative efforts of the DAO.
$YFD’s token economics is narrowly directed towards accruing value to the two most important groups participating in the project: its day-to-day users and governing stakeholders.
Accomplished via the distribution of tokens heavily favoring the above two groups, and the design of fYFD points (Forge YFD Points).
$YFD token holders will be able to lock their $YFD for a fixed period of time in exchange for non-transferable fYFD points.
As time passes, fYFD points degrades their efficacy (in terms of rewards produced).
$YFD token holders must re-lock in order to maintain the optimum reward rate.
The dilution of $YFD tokens via emission is balanced and negated by $YFD being taken out of circulation via locking.
Max supply of 2,000,000,000 (2 billion) $YFD tokens
Treasury: 15% (At launch, 15% to treasury)
Of this 15%, anywhere from 8% to 10% will be utilized for purposes of the $YFD liquidity bootstrapping pool.
Vault Users: 44%: distributed as rewards across YFD vaults.
$YFD Lockers: 11%: distributed pro-rata to lockers’ shares of all outstanding fYFD points.
Community: 6.0%: reserved for community farming events and select airdrops.
Genesis Team: 11%: 3-month cliff, followed by 27 months of vesting (total of 30 months).
Private Investors: 10%: 0.5% released at TGE (token generation event), followed by 18 months of vesting.
Team Development Fund: 3%
Upcoming launch planned Q2 2022
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