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Budget Request: yPools 🤿

0xPickles opened this issue · comments

commented

Scope

Post-yETH bootstrap and protocol launch, with yETH on-chain governance nearing deployment, the next 6 months should see yETH stabilize and mature. There's potential to extend the yETH framework to other DeFi assets, initiating with yield-generating USD assets and yUSD, mimicking the yETH model.

The request introduces yPools—a team charted to capitalize on these openings, with initial efforts centered on yUSD to leverage the most significant perceived opportunity. The goal is to craft a replicable model for expedited future protocol rollouts.

Plan

This request encompasses the following deliverables for yUSD:

  • Conduct a feasibility study to survey the asset landscape and assess risks.
  • Draft a detailed specification; pinpoint potential alterations to the yETH codebase.
  • Evaluate the necessity of an audit and, if affirmative, coordinate its execution.
  • Formulate and propose a yUSD YIP, potentially setting the stage for additional protocols in the same YIP.
  • Plan and announce a bootstrapping phase scheduled for early 2024.
  • Develop an MVP of a web interface in collaboration with Xopowo.
  • Draft preliminary documentation in collaboration with Worms.
  • Sync growth hacking and online communications ahead of the launch in collaboration with yCreative.
  • Onboard prospective boostrap participants in collaboration with Corn.

Deadline

Feb 16, 2024 Mar 11 2024

Team

Funding

Primary funding for this phase will cover contributor compensation. Audit expenses, if required, will be accounted for separately and are not included in this request.

Financials

Monthly Allocation: 30k DAI
Total Request: 90k DAI

Blue Dots

5 🔵

Wallet

  • Details for the Gnosis Safe will be provided to yBudget separately.

Reporting

A single report will be delivered at the end of the request period.

Participation

Interested contributors can join the effort via this Telegram group: https://t.me/+Bbv9_N7aiVpiNGFk

commented

Request was approved Dec 11, deadline updated to reflect this