Build Bitcoin Yield Strategies on Fantom, with the Vaults 1.5 Mix

GalloDaSballo commented 2 years ago

Badger DAO's core mission is to bring Bitcoin to DeFi. Once it gets there, we need to offer competitive yields to our users. We are always looking for more great strategists to find/code new, SAFU strategies to extract yields on Bitcoin across all of EVM compatible DeFi (we currently have footprints on Mainnet, Polygon and BSC).

While we look forward to some good usable strategies out of this hack-a-thon, our real goal is to find great minds to continue to work with. Please keep this in mind when submitting, and put your best foot forward.

Write, Test and Deploy a Strategy for Bitcoin ERC20 (wBTC, tBTC, renBTC, sBTC, BTCb, hBTC, oBTC, etc) on Fantom for big prizes!

Video version:

https://drive.google.com/file/d/1uMyOMOxqSGcI-lkIp4JbzxzgWbA-Wy_x/view?usp=sharing

Bounty:

Develop a successfully Yield Farming Strategy, earn $2k in BADGER for valid submission, $3k for any strat that we decide to bring to our review board and another $3k for any Strategy we launch.

Up to $5k for any valid submission! (+ 3k bonus)

List of Valid Submissions

Geist Levered
Scream Levered
AAVE Levered
Locking Vaults (locked 0xDao, locked Solidex)

Levered Strats intuition

For these 3, given want, deposit in the Protocol, Lever up (by borrowing more of the same want and depositing again and again), harvest token rewards, auto-compound for more want

Locked Strats intuition

Lock asset, vote, claim bribes and rewards for more underlying and emit bribes to the badgerTree

More info about BadgerTree

Steps

Use the Mix as Template https://github.com/Badger-Finance/badger-vaults-mix-v1.5
Write your [Strategy.sol]
Set up the [Configuration File] in _setup/config.py
Specify checks for ordinary operations in [StrategyResolver] in _setup/StrategyResolver.py
Write custom tests in /tests

Requirements:

Code Must Compile
The Strategy must pass all tests, any submission without written tests will be scrapped, no exceptions.
The Strategy needs to be profitable (give us an estimate of the yield it should make)
The Strategy needs to have a brief introduction, explaining what it is supposed to do, the expected yield and the potential security risks. (See Example Submissions Below)
You did deploy the strategy (gas refunds for winners) and the strategy is being profitable for you
[Bonus Points] You wrote custom tests
[Bonus Points] Visualization of Strategy
[Bonus Points] You deployed for a week or two and it's been working

Talk to us:

If you have questions/need help building your strategy you can find us in the hack-a-thon channel on our Dev Discord. Note that this is a bounty for senior solidity devs and we are quite busy, so we will answer one or two intelligent questions, but expect you to work independently on this project.

DAO Contributor Hiring Policy

A bounty is the first step for longer term engagements with BadgerDAO, the successful applicants will be offered 1-1 bounties with the goal of onboarding them into the DAO as Core Contributor

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 5 days, 15 hours ago. Please review their action plans below:

1) westonnelson has started work.

Yield Farming for $BTC on Fantom!

Will be using the new Vault architecture to build a folding strat for Badger. 2) fogete has started work.

Single Lending strategies for wBTC on FTM with Badger architecture.

Currently, I will apply for the first two, but comfortable with 0xDAO and Solidex tasks as well. 3) sherifahmed990 has started work.

Build Bitcoin Yield Strategies On Fantom 4) oschleic has started work.

Locking vault strategy 5) twpony has started work.

I will build bitcoin yield strategy on Fantom with Mix1.5 according to the requirement in this bounty. 6) isharif has started work.

Levered aave strategy for wbtc on phantom 7) acaldas has started work.

Implement a single asset looping strategy on Scream.

Strategy: 1 - Lend wBTC on Scream 2 - Borrow wBTC on Scream 3 - Lend borrowed wBTC from step 2 4 - Repeat steps 2 and 3 until desired leverage 5 - Harvest Scream rewards periodically 6 - Swap Scream rewards for wBTC on SpookySwap 7 - Lend wBTC from step 6 to compound interest 8) taknev83 has started work.

Badger-FTM-Levered strategy

Learn more on the Gitcoin Issue Details page.

Soptq commented 2 years ago

For anyone interested in this task, I think AAVE Levered won't make any profit so it is better to try the other two lending protocols. Based on my calculation if you do leverage on AAVE BTC (on fantom), you probably will end up with an APR of -11% ~

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 1019.8656 BADGER (11575.52 USD @ $11.35/BADGER) has been submitted by:

@gallodasballo please take a look at the submitted work:

PR by @taknev83
PR by @twpony
PR by @oschleic

Learn more on the Gitcoin Issue Details page
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Badger-Finance / gitcoin