I see many platforms with exchange like options. As i look at the current vision, I see a savings account with Financial tools that provide interest bearing returns with a longer term approach. This may not appeal to most people in the Defi space until a bear market presents. Most users are on pace for the “fast money”. As GRO D Prot continues to expand, id like to see a few things.
- Simplified pool-pool swaps that eliminate steps. Allows capital to rotate from one financial tool to the next with the click of a button. (“one click concept”)
- The ability to integrate US dollars/USDC/MIM/Stable coin directly into any pool allocation without having to exchange for assets and pool together. (“one click concept”)
- The ability to borrow against a PWRD at an attractive interest rate.
Im reading about the concept of fNFT. The ability to wrap pools of liquidity and offer to the market as a tool. Zoracles is doing this, they also back this with a credit score concept. I dont understand the minute details yet. Very young concept it seems. Would it be possible to use zoracles as a tool with GRO DAO prot to integrate liquidity swaps and collateral loans against staked PWRD?
Hey thank you for the suggestions you’ve raised in Discord Wanted to capture the discussion here so the discussion isn’t lost in the chat! @chocoblocko @Slacking
Pool-pool swaps - swapping from one LP to another LP pool:
- We want to avoid users having an “exit pool, exit protocol” mindset by making pool switching easier & less gas-intensive
Idea: gas refund when switching between products or pools (considerations: may encourage capital to chase the highest APY pools and cause instability) @chocoblocko
Idea: roll-up system within the protocol system with trade-off in transaction time (considerations: not sure if it could be done on L1 without going off-chain) @Slacking
Idea: built-in swap within the protocol for GVT/PWRD to capture 0.5% hodl fee while making the conversion easier to do @Slacking
Ability to integrate USD/USDC/MIM/other stables directly into any pool allocation without having to exchange for assets and pool together – it’d be handy to be able to bundle the transactions in one-click (e.g., if you start with $10K USDC and want to get into GRO/USDC pool, you’d only need one click to swap half to GRO, provide 50/50 liquidity on Uniswap, then stake in Gro Pool) Before I get too ahead of myself, is this what you’re referring to or was it something else?
Ability to borrow against PWRD at attractive interest rate
@0xJonan suggested Abra could be a good one to look into; other ones that could be useful would be Aave, Compound, MakerDAO, etc
- One thing about PWRD is that it’s a rebasing token, so the platforms in question need to support rebasing in order to accurately reflect the PWRD balance.
- We’ve shown from the unfortunate CREAM incident that PWRD can protect user funds and retains value, which should help make the case for making it a great collateral! As @Slacking pointed out that we need to do more simulations on how it’d work if PWRD is used as a collateral for several times (“looping”), but I’m hopeful we can make PWRD more accessible in such use cases.
fNFT where an NFT represents Gro’s staked positions could be quite interesting - at the moment the staked pool positions and GRO rewards earned cannot be transferred to another wallet; to make them work as a collateral I imagine we’ll need to make them transferrable first. But PWRD wouldn’t have the same issue (as in PWRD is freely transferrable in its original form).