yLockers Budget Request 1

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Scope

yLockers team will own and manage ...

• yLocker products (e.g. yCRV, yBAL)
  • Timely voting, yield optimization, and distribution processes on behalf of the treasury and ST users (including bribes, and misc partnerships).
  • Deploy and maintain the novel vote-locked (vl-yCRV) with fully on-chain vote delegation to users.
  • Develop B2B relationships (e.g. Reserve, Paladin, Curve, StakeDAO, Temple, etc), finding synergies, advancing product development, and increasing demand for yLocker products.
  • Provide UX improvements: E.g. Zaps, Docs, etc
  • Further automate common tasks (e.g. locks, yield collection, voting)
  • Expand offerings (yLQTY, yPENDLE)
• Yearn's veToken position
  • Manage protocol governance voting, in accordance with yearn's best interests and guidance from protocol risk teams
  • Develop and deploy new architecture capable of cross-chain "boost"
  • Manage treasury liquidity and gauge voting positions
  • As we expand to other chains, identify potential additions (Solidly forks, etc.)
• yBribe
  • Evaluate expansion to additional protocols (e.g. veBAL)
  • Features, bug fixes, and product lifecycle
  • B2B Partnerships

Plan

The following deliverables will be met as part of this plan.

• vl-yCRV launch
  • Deployment and configuration of all core contracts
  • User-ready
  • Support admin fee split
• yBAL live
  • yBAL token deployed
  • yBAL voter deployed and whitelisted
  • Liquidity pool created
  • ST and LP tokens deployed
  • Strategies deployed
• Migrate yCRV liquidity to new curve pool with built-in oracle
  • Deploy zap for easy user migration
  • Deploy new LP-YCRV vault and strategies
  • Rescue LPs stuck in yTrades
• New router strategies to prod; route all older curve vaults with a factory version to the factory
• Fix boost delegation on mainnet
• Cross-chain boost working
• yLQTY to prod
  • 15k LQTY grant received to bootstrap "boost"

Deadline

2023-08-01

People

yLockers Core team

Money

• This budget request covers the 3 months of May, June, and July 2023.
• The amounts below are the per month compensation request.
• An additional budget request will be submitted later for future months.
• The ask is in exchange for:
  • completing deliverables above
  • team expenses for archive node access (July only)
• The ask does not include:
  • compensation for non-core contributors (when needed, a separate BR will be submitted ad-hoc)

DAI	YFI
20,000/mo	2/mo

Amount

60,500 DAI + 6 YFI _includes $500 cost for July archive node access._

Revenue Sharing

Revenue share is no longer requested as part of this budget request, but will be part of future requests

For reference in future budget requests:

• revenue sharing is based on the sum of treasury revenue except for fees taken on lp/st vault harvest (e.g. bribes and admin fees).
• yCRV: 1x 🔵 (~$7k/mo)
• yBAL: 5x 🔵 (<$100/mo)
• yLQTY: 5x 🔵 (<$100/mo)

Wallet address

eth:0xAAAA00079535300dDba84A89eb92434250f83ea7

Reporting

Monthly