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20210210-meeting-doers.md

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Meeting notes: Doers standup call Feb 10 2021

Attendance

  • luciano
  • x48
  • facu
  • banteg
  • darkghosty
  • orb
  • doug
  • bull
  • klim
  • dude
  • doggie
  • trach
  • lehnberg

1. Weekly updates

1.1 Done

  • Decentralized org chart, draft shared
  • ETHDenver talk, on Yearn org
  • Brrr:
    • Compensation working group launched
    • YFI printed successfully
  • Coordinape contributor team
  • Design:
    • yveCRV token (backscratcher new logo)
    • yveCRV-ETH Sushi onsen visual (spirited away)
    • yveCRV-ETH SLP on Pickle visual (banteg floating in pickles)
    • cDAI, cUSDC, cUSDT, aDAI, aUSDC, aUSDT tokens + aLINK token rework
  • yveCRV:
    • updates to crv.ape.tax
    • listed on coingecko
  • yDAI exploit:
    • Disclosure published
    • cdp opened to rescue the vault
    • Reviewed improve strategy
  • Strategists:
    • First weekly call
    • Published new version of OPERATIONS.md
    • Review SingleSidedAssetStrat
  • Vaults/Protocol:
    • First triage of issues
    • build zap contract to migrate v1 to v2
    • Review USDT
    • Review gas token integration
  • Keep3r:
    • New repo for Keep3r jobs
  • Partnerships:
    • misc negotiations
    • Initial rev share table drafted
  • ARC for no borrowing of YFI written
  • Docs call arranged
  • Income statement and balance sheet for Nov/Dec
  • Treasury Management plan
  • yearn-exporter, dashboard and feedbacks for dockerized version

1.2 Doing

  • Comms:
    • CoinTelegraph OpEd
    • Defi / crypto treasuries list
    • Chinese wechat newsletter
    • Coingecko listing of vaults
  • Design:
    • BT finance, Dollar Protocol, Origin Dollar tokens for cover
  • Vault/Protocol:
    • Make yDAI and yETH whole
  • Strategies:
    • Improve normal migration and emergency procedures
  • Keep3r:
    • call applyCredits on meta-job to get credits on SugarMommy
    • deploy new meta-jobs
    • work on yearn contract deployer meta-job
  • Governance:
    • Org chart
    • Compensation plans
    • Aave proposals
    • Jan Financials
  • Partners:
    • Documentation

1.3 Todo

  • Docs/Comms:
    • Check on Miya for Chinese PR
    • Kickstart Chinese contributors group
    • Touch base with translators
    • dev docs
    • get decision on yWiki
  • Web:
    • Fix remaining Subgraph issues to integrate and use in yearn API and website
    • tg\twitter bots to show apy regularly
    • fix apy calucation
  • Vault/Protocol:
    • Pay off CDP for ydai
    • Tools to monitor the cdp and scripts to rebalance it
    • pay gas
  • Strategies:
    • Create a video to onboard strategists to v2
    • Deploy contracts to a testnet (Boarding School, maybe use BSC 👀?)
    • Write short steps for a lean process for reviewing v2 strategies that we can use as base
    • Ideas to avoid sandwich attacks
  • Governance:
    • Multisig Transition (high priority)
    • Collect specs for the new treasury
    • pay grants
    • add report for ychad
    • create proper treasury management
  • Partnerships:
    • term sheet for partner project

1.4 Blocked

  • Gas price is too damn high

2. Call-out topics

Exploit status/aftermath

  • Maker vault
    • 9.7m, 1m extra might be needed for eth vault
    • two snapshots required count diff
  • Tether: Contact CTO, try to get funds back
  • Aave proposals: good to deepen partnership with them
  • Cream: Deepen co-opeartion further

How do we pay the DAI loan?

  • farming with treasury
  • diverting baby
  • depends a bit on priorities
  • need data/forecast for time to repay

Vaults & Strategies

Vaults v1 -> v2 plan

  • Are we heading towards single token deposits to replace Curve?
  • Plan to migrate Curve v1 strats to v2?
  • Wrap the v1 vault and treat it as a strategy for a v2 vault, offer single side deposit?
  • Latest fix for Dai v1 has mitigation, public earn() cannot be enforced.
  • Possible sandwich mitigations:
    1. no deposit+withdrawal in the same block as harvest
    2. earnings maturation for 6 hrs
    3. withdrawals using a lagging share price from 6 hrs ago

BSC for boarding school / strategy testnet

  • Using BSC and Testnet for boarding school.
  • BSC demand way more time from core devs/strats than a 100% school-managed testnet
  • Yearn on BSC for Boarding School
  • strategists in training
  • low fees
  • bring experience to ethereum
  • help build relationship with binance
  • don't distract the core team
  • don't trust the system with huge amounts, keep it small ball
  • Yearn's kusama?
  • NO BRIDGE

Content/onboarding material for v2 strategies?

  • Video to onboard new strategists? Maybe record a live dev AMA session (?)

Partnerships / Integrations

  • Several in early discussions
  • Rev share tiers evaluated

Multisig transition proposal

YIP-41 expires this month. Preliminary draft of the multisig transition proposal Gabe and Trach wrote a while ago shared. Gives an idea of what was in mind but needs a lot of work still.