breadforthepeople
commented
3 years ago Thank you, the project does not seem live. We can re-visit after your launch. Closing the PR for now.
Closed sirhc953 closed 3 years ago
breadforthepeople
commented
3 years ago Thank you, the project does not seem live. We can re-visit after your launch. Closing the PR for now.
Discord: https://discord.gg/d8uBdKNvhn Github: https://github.com/Shorts-Fi Twitter: https://twitter.com/ShortsFinance Web: https://shorts.fi
Dear Harvest Finance team and community,
Shorts.Fi, a decentralized platform for assuming long/short positions on crypto assets with fairly launched governance token will be going live on Wednesday December 31, 1:00am UTC. We respect your project, we'd like to propose pull request with a farming strategy for Shorts.Fi for your consideration.
How Shorts.Fi Works Shorts.Fi allows the DeFi community to take short (or long) positions on asset pairs with small leverage (10% and 30%) using the available lending platform (Compound at the moment). When a user, a regular degen, assumes a position, the platform uses their deposit as collateral to acquire a loan in the short asset, trade the asset back to the base (long) asset, and provides all the base asset as liquidity to the lending platform. The shares that represent the degen’s deposit get automatically staked. For this stake, as the time passes, the degen receives the Shorts.Fi governance token SHRT (the token has no monetary value). They can claim the token from the staking pool. When the degen exits their position, the smart contracts repay their short to the lending platform and see if the leverage produced profit. If profit was produced, the degen will provide a 30% profit celebration stipend that will be shared with this fellow degens in a pool. The remained of funds are sent to the degen.
About The Strategy We propose that Harvest Finance create a new set of degen vaults to match the main shorting pairs offered by Shorts.Fi (those are the USDC-WETH-WBTC combinations). Those vaults can take their short/long position on Shorts.Fi with the strategy suggested in this pull request, and farm the SHRT token.
The strategy is derived from one of your existing strategies. We included our interface and implemented interaction with our shorting smart contracts and staking pools. We removed code that didn't seem relevant for the strategy. We left some notes for your developers, who will hopefully review the strategy and (jointly with your community) decide about the possible collaboration with our project. The Harvest Finance developers can be given an early access to our code for their review.
Respectfully, Shorts.Fi
Discord: https://discord.gg/d8uBdKNvhn Github: https://github.com/Shorts-Fi Twitter: https://twitter.com/ShortsFinance Web: https://shorts.fi