Might be related to PIP 11: Yield Farming++
Currently, to do yield farming it takes loads of transactions.
I will use $SUSHI as an example, the same is true for $UNI.
5 transactions to get in:
- get the $SUSHI by sending ETH
- approve $SUSHI
- provide liquidity, receive LP (liquidity provider) tokens
- approve LP
- stake LP
2 or more transactions to get out:
- unstake LP (sometimes need to approve LP again)
- withdraw liquidity (depending on the platform can get proportional or single asset)
I would like to minimize the number of transactions.
I would like to automatically harvest and reinvest the profits, just like https://yearn.finance
There are some notable dashboards
Ideally, a couple of different farms to minimize the risk of smart contracts and rug pulling.
- $SUSHI / ETH on SushiSwap comes to mind as a sure-fire candidate for the spot number 1
This is because I believe in the power of dominant networks. Bitcoin: dominant monetary network, Ethereum: dominant smart contracts network, SushiSwap: one of the two dominant swapping networks (the other one is Uniswap but not yielding $UNI tokens anymore)
The overall allocation of assets would be 50% ETH and the remainder 50% of various tokens…
Reality check: does it make sense?
Maybe it already exists, is already proposed, discussed, someone else is doing it already…
Once there is some positive feedback we can evaluate what is the optimal flow, allocation, ratios.
If the idea is crap: even better, scrape it, fall forward.