Enzyme Vault Management Tool Grant Proposal

[kavinm]

Enzyme Vault Management Tool

Proposal

• Make the Enzyme Vault Management Tool more usable to aid vault managers in managing their portfolios.
• Write documentation for our npm package so that other applications can use the 3 functionalities from the Vault Management Tool.

Motivation

• Enzyme is the decentralized protocol for asset management. It allows anyone to create or invest in a cryptocurrency fund. Recently, development on Enzyme has focused on “assets” (with more to come with the Sulu update). However, there has not been as much growth on the “management” side.

• The lack of proper management features becomes evident if you look at the current vaults and their holdings on Enzyme. The majority of funds hold under ten assets, and the funds themselves are not diverse. Vault managers don’t want to carry many assets because it becomes increasingly hard to manage.

• Our solution is to build tools that allow vault managers to do more on Enzyme.

• The end goal of this project being that if we set the stage with the right instruments, we’ll end up with some rockstar vault managers that get many more regular users to buy shares in Enzyme vaults.

Code Wise

• Replace user private key input field with the implementation of metamask through a getSigner() function for transactions.

• Change the Rebalance portfolio function in EnzymeBot.ts to accept percentage instead of amount for tokens (L290 - L321)

  • Add the percentage logic within (L293 - L295) in a for loop for all the rebalancing tokens
  • Logic:
  • get the entire value of the portfolio in USDC or ETH
  • Multiply the percentage of the portfolio value to get the USDC/ETH amount
  • Divide Eth amount by the asset value to get the amount of asset to rebalance.

• Move functionality to store multiple buy/sell limit functionality to the front end and track all active orders with browser state management.

Why us?

We are a team of 4 developers and have already built a prototype during the DeFi Summer hackathon. (https://devpost.com/software/enzyme-auto-manager-bot)

What we plan to add, fix, change and test

• Upgrade the login feature to use wallet plugins (Metamask) rather than asking for the user’s private key

• Update the buy/sell limit feature to allow multiple limit orders

• Create a User interface to allow easier management of limit orders.

• Add a price limit on the UI, which, after executing, closes out on the UI.

• Edit the rebalance portfolio function to work with percentages instead of amounts.

• Perform tests on both Kovan and Mainnet networks. We will initially perform the Mainnet tests with a local fork.

• Clean up the code and refactor functions with proper comments to help maintain the codebase.

Operations

The user will still need to input their vault address, but the private key login will be gone and replaced with a connect wallet using metamask.

Funding/Compensation

• The remaining fixes and changes to the vault management tool will take 25 - 30 days.
• We suggest a funding of $6000 to be used for gas fees and testing on live mainnet. (This includes the DeFiSummer prize money so an additional $2000). We will set up a Gnosis safe for this purpose.
• Upon completion of the changes listed above and testing on a mainnet fork and mainnet itself, we will have a testing period with a few Enzyme vault managers. We can then decide what else should be added or fixed with some input from them if necessary. After this point, we suggest $8000 in MLN as compensation.

[perhamgirl]

Excited to see the continuation of this work and support it. I just have a couple of questions;

• Will your work be open-sourced?
• Just to clarify, is the total compensation you're looking for $2000 (for gas) + $8,000 (in MLN) on completion?

[kavinm]

Yes, the work will be open sourced. We will keep our repository public and we plan to write documentation so it can be forked and edited by others as well. I think it's likely that other applications will use the functionalities for something they're building so the focus will be on writing documentation on the npm package and how to use the 3 functions.

Yes, that's correct. We are requesting $2000 for gas fees in setting up a vault on Enzyme and testing on live mainnet (majority of testing will be done on a local mainnet fork). Upon completion, $8000 in MLN is what we suggest.