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20210217-meeting-doers.md

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Meeting notes: Doers standup call Feb 17 2021

Attendance

  • bull
  • facu
  • banteg
  • doggielicious
  • darkghosty
  • doug
  • klim
  • dudesahn
  • luciano
  • lehnberg

1. Weekly updates

1.1 Done

  • Vaults/Protocol:
    • Final plan for v1 -> v2 migration
    • ydai early withdrawals reimbursed
    • vesting escrow contracts
    • New general zap UI component for yearn.rocks makes it easy to add zaps for test vaults
    • New v2 board to track progress
    • yBacklog board to track features that are on long(ish) term
    • yToken & AffiliateWrapper masterclass
    • Bonny v2 vault released with several fixes
    • Registry release
  • Strategies:
    • wethmkr strategy debt fixed
    • OPERATIONS.md refined further
    • Mushroom wBTC strategy reviewed
  • Keep3r:
    • unbonded LPs from deprecated mommy job
    • Yearn Proxy Keep3r Job
    • randomization contract for keep3r network to use
    • YFI mechanics group for maintaining keep3rs
    • monitor created for earn/harvest
  • Web/API:
    • fork-net for frontend development
    • Lots of meetings/workshops/decisions/progress
    • Streamlined communication and roles for website and web group
    • Rough timeline for website
    • Mainnet fork up and running for QA
    • APY calcs improved
    • Remaining tasks for website v2.1 organized
  • Governance:
    • YIP-57 mostly done, comp plan finalized
    • Interviews and 1:1s
    • multisig participation rate surveyed
    • Treasury Yield plan
    • YIP proposal to extend multi-sig released
    • All financial debts processed: grants, payments and gas
    • Donated YFI returned 2xed
  • Partnerships:
    • lots of silk glove partnerships comms
    • internal alignment on partnerships approach reached

1.2 Doing

  • Vaults/Protocol:
    • Review wrappers
    • Simple UI for vesting escrow contracts
    • Housekeeping yearn-protocol and v2 vaults issues and PR
    • Add Permit and gasToken to support to migrator to subsidize gas for users on v2
  • Strategies:
    • Move WBTC 🍄 to production
    • Track BSC tests
    • Step 1 on curve v2 experiment
    • Glitches in curve v1 better for future migration plan
    • Curve structure in v2
  • Keep3r:
    • Finish refactoring jobs to work with Proxy job.
  • Web/API:
    • Release v2.1, improved APY calcs and info, tweaked UI/UX
    • Continue work on v3, new UI/UX flow, first to be released as a standalone app
    • Finalize TVL endpoint
    • Finalize APY in UI
  • Governance:
    • January financials
    • Submit aave proposals
    • yChad audit
  • Comms/Docs:
    • Onboard Chinese community help
  • Partnerships:
    • Add more to projects' treasury doc
    • Documentation for partners
    • Partnership form & comms

1.3 Todo

  • Vaults/Protocol:
    • DepositWrapper for v2 migration
    • Define zap approach to go with in house zapper like approach or zap per vault contract or integrate with zapper directly
    • Add backscratcher to subgraph mappings
    • Fix hardhat to integrate with brownie and improve testing on all our repos
    • Graph offical yearn repo
    • Add system vaults status checks to grafana
  • Strategies:
    • Doc & video with resources to onboard new boarding school members
    • Port many already-done strategies to v2
    • Beginrepaying dai debt
    • Boost backscratcher even more
  • Keep3r:
    • Recover and bond escrow LPs from mommy to proxy job
    • Add more jobs (yearn relayer, and deployer)
    • Internal contracts draft, using keep3r.network as a safeguard, or for no-risk jobs.
    • Improve yearn-keep3r-jobs repo with proper CI and tests
    • Build infra around monitoring and automation
  • Web/API:
    • Create process to add Metadata
    • Get updated TVL for DeFi Pulse
  • Governance:
    • Review bug bounty top tier
    • Legal opinions
    • Draw clean in\out budget flow
    • Define Treasury yield farming approach
  • Comms/Docs:
    • Dev docs
    • More copywriting help for website
  • Partnerships:
    • term sheet for partner project

1.4 Blocked

  • ychad for January

2. Call-out topics

Use minted YFI in Treasury to farm & service yDAI debt

  • 2800 YFI left
  • sushi, bancor, yvaults all options
  • Capture all DAI available in Maker
  • Should we be agnostic to eth?
  • Bull to prepare detailed farming proposal

Vaults / Strategies

Zaps

  • Build ourselves or work with Zapper
  • zapper does single contract handling all zaps
  • uses offchain component for routing
  • simplest way is to do a simple contract, but requires 1:1 mapping
    • 1 week turnaround
    • expensive on gas
    • not upgradeable
    • redeployment of contracts when there's new tokens
  • best engineering approach: 1inch style off chain routing a la zapper
  • zapping in and out of vaults: a priority
  • zaps between vaults: nice to have
  • seems sensible to focus on core business for us, and work with zapper on zaps
  • can always be revisited based on need

Curve voting

  • vote based on TVL? least political thing to do, codified
  • vote based on maximizing vecrv?
  • limit vault deposits to % of gauge equal to % of our vecrv to maximize yield?
  • do some maths to figure out optimized approach
  • banteg to do plan / proposal and we take it from there

yLINK, yaLINK and yYFI

  • aave based strategies with v2 aave tokens
  • "you can get 20% on your link on v2, marine"
  • Facu to drop in strategists as a idea for them to pursue via Sam

New projects

  • Do we plan to build out the Yearn Ecosystem / finish some of Andre's prototypes? Do we just need devs?
  • there's a desire, pick the core one
  • Subset:
    • ydelegate - uses aave v2 delegated credit, only creates positions doesn't balance positions. if you have credit available it shows up in the UI
    • leveragex - create flashloan to leverage the asset. pick long, short, collateral.
    • yTrade - leveraged fx trades. needs LPs.
    • options.crv.finance - not keen to push that, hegic base rewards mostly negative, underlying protocol not making money
    • defi starter - kickstarter for defi projects