comdex

Prop 116: Bringing YFD to Comdex: Community Strategy Factory, Create Custom Strategies on Comdex

Proposal to bring Y-Foundry DAO (YFD) to Comdex

Full proposal on Comdex forum: https://forum.comdex.one/t/bringing-yfd-to-comdex-community-strategy-factory-create-custom-strategies-on-comdex/800/1

On YFD users can propose, fund, and build ideas using the Y-Foundry dApp which connects to a set of open-sourced trustless smartcontracts developed by YFD using Rust and CosmWasm. .

YFD’s architecture creates a community led platform that builds and deploys projects onto Comdex all transparently and on-chain without VC deals, token generation events, and permission from a core team.

Benefits

  1. Custom Strategy Vaults Simply put, a custom strategy vault takes a strategy idea, and automates it.
  2. Prepared Vaults Currently, we have completed vaults for Terra that would perform auto-compounding yield-optimization which can be adapted to work with Harbor. These vaults can be further customized based on community preference (should we sell or keep $HARBOR tokens, etc.). Variations of strategies can be implemented based on community desire.
  3. Funding Community Initiatives Secure decentralized funding mechanism is available onchain to everyone and anyone who would like to fund with transparency, accountability, and openness.

Grant Details

With the above in mind, we would like to collaborate with the Comdex team to deploy YFD contracts onto the Comdex chain. This will allow Comdex users to use the above mechanisms mentioned with a local version of the $YFD token, which ensures that $YFD on Comdex will have its own sovereign, user-led governance independent of any other YFD launch on other chains .

The grant amount requested is 300k CMDX tokens vested in the following milestones:

15% vested on testnet deployment 25% vested on mainnet deployment remaining 60% vested over one year

These funds will help sustain a minimum runway for initial contributors (Ray, Clean, Crash) who have been working without payment as of November 2022.

YFD is designed to be a self-funding ecosystem with the ability to support itself post launch through revenue generation from its 33% share of launched vaults to create a diversified treasury.

In the meantime, YFD pays for itself by generating utility for the Comdex ecosystem with its accountable funding mechanism, as well as creating vaults with novel strategies that leverage synthetic cAssets, the CMST stable asset, cSwap DEX, Harbor, and the Commodo lending market. ...

Voting

By voting “Yes” you believe that Comdex should bring YFD onboard with this grant.

By voting “No” you believe that Comdex should not bring YFD onboard with this grant.

By voting “No with Veto” you believe that Comdex should not bring YFD onboard with this grant, and that the deposit on this proposal should be penalized.

By voting “Abstain” you believe that you have no opinion on whether Comdex should not bring YFD onboard with this grant.