This strategy will try to earn both $COMP(also DAI/USDC as supplier in Compound) plus $MM at the same time via standard yield farming process.
Get a higher (or alternative) yield option than currently default v2 DAI/USDC strategy which is specified here. Once implemented we can enqueue it in v2 Vaults as an alternative strategy for DAI/USDC vaults.
Providing multiple diversified strategies for same asset vault is a key differentiator in yearn v2 design and bring more value to entire DeFi community.
The entire strategy logic should be quite straight-forward as outlined following:
- Apes deposit DAI/USDC into yearn v2 vault associated with proposed strategy
- Proposed yearn v2 strategy then invest those deposit by depositing in Mushrooms Finance vaults
- Upon successful invest, yearn v2 strategy would receive mDAI/mUSDC minted from Mushrooms Finance vaults as LP token
- Lastly yearn v2 strategy stake received mDAI/mUSDC token to Mushrooms Finance farming pool to yield additional $MM token and a standard harvesting-exchange-reinvest process could applied here to compouding the earning.
- Unstake from farming pool and Withdraw from vault in Mushrooms Finance help yearn v2 strategy to exit the investment. Please note there is a 0.2% withdrawal fee in its vault.
- The Mushrooms Finance states that its $MM farming schedule would last 4 years from now thus this strategy would be a relatively sustainable choice in the long run. No need worry sth like Uniswap LP mining just for several weeks
- Higher yield than current default v2 vault strategy by additional yield farming
- Possibility to extend to other vault in future for any profitable asset in Compound/Mushrooms
- Reasonable and sustainable addition to v2 vault as an alternative strategy in queue
- Similar concerns as Againsts listed there
- Mushrooms Finance is under audit with CoinFabrik but full report is still not out yet. Although the project looks active building with recent integration with keep3r network and COVER protocol.
- Sounds cool, Let us get working on it!
- Not quite sure about this proposal, Let us not do this…