Proposal: Create a New Strategy to Farm SWRV

Proposals Vaults
1

Summary:
Create a new strategy (or vault, if applicable) that would deposit stablecoins (DAI, USDC, USDT, TUSD), to farm SWRV.

Abstract:
Yearn has a large reliance on Curve and farming CRV in order to generate yield for its primary product: yVaults. This proposal would expand Yearn’s yield-generating activities to another asset (SWRV) and protocol, reducing reliance of Yearn’s revenue on one governance token (CRV).

Motivation:
Reduce the reliance on CRV for Yearn’s revenue. Create more options end-users can use to obtain yield in the market. Yearn should not ignore and be limited to specific protocols for yield. We should be open to exploring and capitalizing on all opportunities in the market.

Specification:

  1. Create a new strategy, or a new vault if necessary that would farm SWRV.
  2. SWRV is sold for the base asset in the strategy/vault.
  3. Depositors have claim over the excess profits.

image

Poll to gauge sentiment.

  • FOR
  • AGAINST
0 voters

I know a few Yearn community members dislike swerve, well if you dislike it so much we can farm it and dump it to zero. This proposal isn’t about protocol bias/support it is about expanding yield-generating options within Yearn and giving users more options to obtain returns.

2 Likes
2

My biggest question would be stability of the yields– how long are the Swerve pools going to be incentivized for?

3

I believe its a 4 year distribution like CURVE now that the initial 2 week bonus has subsided.

1 Like
4

In that case, I think this could be a very good option to keep in mind for the future with tiered strategies.

I suppose my other concern would be how we could go about farming the necessary SWRV to gain the max boost– and what our APY would be without the boost, or with a minimal boost like we currently have on Curve.

5

Is it safe to farm it? I got the impression that it seems that new bugs appear one by one in their code, and they do not know how to fix them quickly. Their TVL & APY look quite volatile, so against.

6

If it makes money sustainably, why not

7

dead project, no devs. check the discord it’s an absolute joke. they are getting desperate and will likely semi-scam users to get paid. stay away