Create new vaults for high risk takers that likes to farm the hottest and latest yield generating protocols.
Many developers are creating their new yield farming strategies as new governance tokens. Many of our community will “ape” into these new farms to farm protocol tokens. I am proposing a new vault that takes advantage of these new opportunities.
The current state of YFI vaults utilizes “basic” money legos such as compound and curve. After being inspired by thinking about the issues raised recently about talented devs starting their own protocols, I believe this is an untapped service YFI can uniquely provide. YFI originally was a yield farming tool to find the best yield amongst competiting yields. After YFI started, many other farming protocols also began to provide same service but with different yield. YFI can and should also consider these protocols for determining how to best deploy stablecoins for yield.
Generally, YFI should take the stablecoins and split them between farming protocols.
Since these protocols are new, there is a rule on only 10% of the funds can be used to farm any single one protocol to reduce risk. Any left over funds can be deposited into a standard yVault. The associated goverance tokens generated will be sold for yield when harvest() is called. This vault needs to take advantage of v2 vaults so when a new protocol is announced, a strategy can be developed for it quickly to farm the goverance token during the limited distribution phase.
These vaults would generate a new token called yyDAI (y squared DAI). The vault would go after high level protocols for yield. Which ones are decided by strategies voted by the governance. Ideally, there would be many of these and so the risk is diversified for cases of major bugs and/or rugpulls.
For: Create a stablecoin vault for other farming protocols for the most yield period
Against: Do nothing
- Create a stablecoin vault for other farming protocols for the most yield period
- Do Nothing