V3 Budget Request

[Schlagonia]

Scope

For reference the last V3 BR: #187

Funding for the continued development, testing and deployment of the Yearn V3 system.

For a more detailed description of the vision and end goal of V3, please review the V3 YIP.

Since the last budget request we have officially deployed V3 with production Yearn vaults on mainnet, have continued to steadily grow TVL and grown the external parties building on or with V3.

This budget request is focused on the continued support for all V3 users both within Yearn and external. As well as a primary focus on external partnerships that show an out sized potential impact.

Components:

1. Maintain and update Vault and Strategy core contracts as needed.
2. Maintain and add to periphery contracts and strategy mixes as needed.
3. Support new 3rd parties as they begin to integrate with the V3 system.
4. Support all Yearn teams that start building on and with the V3 stack.
5. Continue support for new chains (ARB, OP, Scroll etc.)
6. Implement governance systems into the V3 stack.
7. Build automation systems for the full V3 lifecycle.

Status based on previous budget request goals.

• "Launch on Mainnet!
  • First standard V3 vaults have been launched on mainnet as well as the first "-2 vaults"
  • veYFI gauges have also been added to the -1 vaults
• Pilot a new partner program
  • An initial partner program has been drafted up.
  • Focus was placed on other partner integration's though.
• Currently have over $35m in TVL as of 4/8/24. A growth of almost 10X since our last BR.
• Core contracts deployed on 10 chains.
• Over 75 vaults/strategies deployed by at least 3 distinct organizations.

Plan

• Work with Polygon on the Stake the Bridge project.
• Launch the Partner Program.
• Build an easy to use deployment kit for all core and periphery contracts on new chain.
• Improve the education and documentation for using and building on V3.
• Work on auction automation for Protocol fees.
• Develop a Vyper version of BaseStrategy with corresponding mix
• Research and development of auto-compounding strategies
• Begin research and analysis for async Deposits and Redeems.
• Work with Corn to continue to apply for further grants in order to bootstrap the ecosystem on new chains.
• Work with more external partners on unique and novel use cases for V3.
• Develop novel periphery contracts and expand on existing versions, With a focus on automation.
• Continue to support the needs of those building on V3 with new or updated Periphery contracts.

Goals

• $100m TVL
• Launch Polygon Stake the Bridge project.
• New chain V3 Deployment Kit for easy V3 core and periphery deployment on new chains.

Deadline

2024-7-31

People

V3 Protocol Team

Money

General

The V3 team still has $25K DAI from the previous request designated for testing and under the control of the V3 mulit-sig that will be rolled over to continue support testing.

Comp

Base Pay

Base pay includes pay for core contributors and budget for outside contributors.

Pay is requested to be in yvDAI-1

Monthly: $40k
Total: $120k

Amount (Total)

120k in yvDAI-1

Wallet address

0x333

Reporting

Once