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Personal Budget Request: dudesahn #2

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Scope

Contemplated scope of work includes the following duties with respect to existing Yearn V2 factory vault deployments across multiple chains and builds off of previous work here.

  • Monitor the following factory contracts for parameter adjustments as needed
  • Features, bug fixes, and product lifecycle
    • Monitor daily and adjust as needed
      • Credit available (trigger one-off harvests for loose want in vault via forceHarvestTriggerOnce)
      • Debt allocation for vaults with multiple strategies via updateStrategyDebtRatio (curve/convex)
      • Harvest trigger settings (setHarvestTriggerParams, setCreditThreshold, setMinReportDelay, etc.)
      • Watch for newly-deployed vaults (queue yChad to acceptGovernance)
    • Deploy updated template strategies as needed
      • Watch for interface changes as Convex/Frax staking evolves over time.
    • Work closely with Web team to add token symbols, descriptions for new vaults and hide/remove old ones as vaults are sunset for various reasons.
  • Continue support of routing legacy Curve => factory vaults
    • $35m in legacy Curve vaults
    • Primarily watch for stuck harvests (setDoHealthCheck(False) for too much profit)
  • Proactively create strategic proposals for partnerships and grants to attract POL and TVL (in collaboration with other Yearn community members)
  • Work with partners to add factory vaults as collateral
    • Lending markets and CDPs
    • Oracle development, collateral recommendations, DD, etc.
  • Continue weekly distribution of Yearn's yvOP grant for Optimism vaults
    • notifyRewardAmount on relevant staking contracts

Unless otherwise specified, all deliverables will be provided using commercially reasonable judgment and techniques where practical but without any warranties or guarantees whatsoever. Any deliverable with a specified method or contract is limited in scope to that method or contract, and the scope of all other deliverables (including but not limited to those parameterized with "as needed" or similar) are in the sole discretion of the People identified below.

Recent highlights/updates

  • Wonderland raised an issue that some keep3r harvests were consuming excessively high amounts of gas. Identified issue (older strategy templates being used on some vaults), created list of strategies pointing to older minimal proxy templates with TVL, deployed new versions and migrated to remedy issue.
  • Worked with ZooTroops to migrate excess keep3r credits from stealth/tend jobs to factory job to increase harvest regularity on the ever-growing number of factory strategies.
  • More than 5.5M veVELO accumulated to date (# 11 protocol by veVELO holdings), ~250k yvOP remaining for incentives in oChad
  • Improved harvest monitoring scripts on Base and Optimism to accurately estimate total harvest gas cost (L2+L1) to increase harvest frequency while ensuring optimal cost/profit.
  • Deployed V1+V2 of Prisma Convex Factory strategies
    • Add-on strategy template for Curve Factory vaults
    • V1 allowed farming of Prisma receivers w/ claimed yield as yPRISMA
    • V2 allows for more customization of claim time (separate from harvest calls) and allows for utilizing boost rentals to maximize yield

Current Stats

  • Curve
    • 123 Factory Vaults
    • $65M TVL
  • Velodrome
    • 70 Factory Vaults
    • $17M TVL
  • Aerodrome
    • 28 Factory Vaults
    • $250k TVL

Plan

The following deliverables will be met as part of this plan:

  • Ongoing maintenance needed on deployed factories/strategies as described above, including smart contract and (reporting) UI bugs.
  • Explore feasibility of Curve strategy migration to allow StrategyProxy upgrade (enable easier DAO voting) and atomic factory harvests (improved end-user experience)
  • Programmatically optimize allocations between via Curve and Convex strategies
    • Calculations done using existing veCRV balances, voter TVL, and fees for Yearn and Convex voters
      • 16 vaults currently with allocations split between Curve/Convex
  • Continue to distribute Yearn's Optimism yvOP grant to vaults on Optimism
    • For Velodrome LP vaults, currently aiming for ~1.3-1.5x return (after fees) compared to staking in gauge alone
      • Adjusting emissions weekly based on base yield, fees, and changes in TVL
    • Coordinate with protocols who desire to bring PoL to new or existing vaults.
  • Continue to pursue factory vaults as collateral with lending/CDP protocols, with a special focus on Base and Optimism
    • Will need to deploy several new vaults here as Velo/Aero pools shift to use natively-issued instead of bridged USDC

Deadline

2024-05-01

People

dudesahn's single-member LLC

Money

5K DAI per month. Retroactive for Feb. Forward-looking, Mar-Apr.

Amount (Total)

15,000 DAI

Wallet address

0x4444AAAACDBa5580282365e25b16309Bd770ce4a

Reporting

Once