11/5/2020 Dev/Gov Call - YCP Focus

11/5/2020 Dev/Gov Call Agenda

Time: Thursday, 11/5/2020, 6pm UTC

  • Introductions
  • Past Week in Governance
    • Contributor Payments Processed
    • Big Update live on chain:
      • ETH/YAM Purchase from Sushiswap
      • 5k BoU YAM/week LP Incentives
      • LP Governance
      • Farm SUSHI with SLP in Incentivizer
    • ETH OTC Purchase On Chain
  • Upcoming in Governance
    • Move contributor frameworks to on-chain
    • Treasury management snapshots/forum posts
  • YCP Discussion

Notes from call:

  • Protocol Design:

    • Seems like Option 1 on the above doc makes the most sense at this point. The general design of pooled underwriting and underlying specific coverage pools is a nice design pattern with huge design space in terms of what contracts and protocols to cover.

    • Rather than the snapshot method for claims, it probably makes more sense to have a timelock on receiving coverage. Both are in pursuit of preventing a rush to mint coverage in the event of a hack.

    • In general, we have a novel ERC20 design that allows for fungibility, but we don’t leverage that fungibility on secondary markets and we’ve lost some of the speculative nature of the protocol. We’re working on some ideas to bring more speculation into the protocol, perhaps through a bonding curve for purchasing coverage.

    • Can and should we put capital to work that’s deposited by providers and seekers? Theoretically this would be a considerable amount of capital that may would be able to achieve significant returns to either boost returns or payouts.

  • Protection Provider UX:

    • Consider a dashboard of some kind to assist coverage buyers in evaluating risk: audits, Codefi / DeFi Pulse scores, history of hacks, etc.
    • Calculate Max Drawdowns in the event of a hack
  • Protection Seeker UX:

    • Consider a “Money in Waiting” contract, similar to an assurance contract, that allows seekers to signal demand for coverage on a specific contract/protocol
  • Comms

    • Need to make extremely clear how this protocol works
    • Lite Paper
    • Detailed Roadmap
    • Analysis of current protection options on market
    • Clear UI descriptions and charts that illustrate functionality and risks
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