Real-time and open-source monitoring and alerting for Gro strategies

Executive Summary:

Sentio is proposing a public dashboard and alerting system for the Gro core team and Gro community to visualize and monitor yield farming strategies and stay vigilant to market risk and black swan events.

Specifically Sentio will deliver:

  1. Public dashboards that visualize the status of all strategies Gro is invested in
  2. Real-time alerts pushed to the core team and the community if certain conditions are met, e.g. liquidity of an invested pool diminishing quickly or certain stable coin depegged.
  3. Open source repo that encapsulates the logic to generate the dashboards and alerts, that can be collaborated by the core team and the community
  4. Reliable and real-time infra that hosts the dashboards and alerts
  5. Initial implementation of the dashboard upon request, for free
  6. Training for the core team to build and maintain the dashboards and alerts, for free

Problems:

Take the UST incident as an example, there was no easy and transparent way for the community to be notified and quantitatively visualize and analyze the situation, which hindered the community’s ability to make effective decisions as a DAO.

Solutions:

  • Real-time Dashboards

Sentio’s real-time dashboard will visualize key metrics of Gro’s strategy. For example, the liquidity and token price during the UST meltdown can be visualized in real time and in high granularity for the Gro community to catch any market risk associated with that pool.

Below is a sample dashboard for UST-3CRV pool. The price depegging of UST and the diminishing liquidity is very clear to understand once visualized.

Additionally the performance of the vault and its corresponding strategy can be directly monitored as well. E.g. the total estimated assets of the UST strategy and the total debt in the corresponding vault, along with the PnL of the strategy (defined as total assets/total debt - 1) are shown below:

Note that the PnL graph can specifically be used to support the 400bps stop loss proposal that are recently passed.

  • Alerts

Alerting rules can be developed based on the metrics to inform. To use the UST incident as an example again, an alert can be set on UST’s de-peg ratio (defined as 1 - UST price/USDC price) as well as PnL as defined above. As illustrated below, alerts can be created so that if the depegging is >10% or strategy loss is > 4%, an alert will be triggered. This will help the entire community to be vigilante on the execution of 400bps stop loss rule.

Note that the alerts can be pushed to Gro community’s discord or telegram channel, or subscribed by any individual email.

  • Open-source and transparent monitoring logic

Sentio is designed to enable transparency and collaboration among the community. The logic layer of each monitoring project can be encapsulated in a git repo, which can be viewed and collaborated by the entire community, similar to any open source projects.

In the short term, Sentio will develop the first version of the dashboards and alerts to bring the Gro community up to speed to secure its investment strategies as soon as possible.

In the medium to long term, Sentio will hand the development and customization of the system back to the Gro community and only function as the infrastructure layer. To enable this transition, Sentio will also provide training to the Gro Core team about the platform.

To show our good faith to enable the transition, both the initial implementation by the Sentio team and the training for the Gro core team will be free of charge. Sentio team hence has no financial incentive to hold on to the maintenance of the dashboards. We will of course keep providing excellent customer service to the Gro community.

Here you can see a sample open-source Github repository that contains dashboard logic.

About Sentio:

Sentio is an observability platform for Web3. Sentio team members have been developing and investing in crypto space since 2017 and had been working at Google, Linkedin and Elastic on large-scale data infrastructure and monitoring solutions for 10+ years prior to starting Sentio. Sentio is well-funded and backed by top crypto investors like Lightspeed Venture, Hashkey Capital and Canonical Crypto.

Project Budget:

  • $0 implementation fee for initial dashboard
  • $0 training fee
  • $50 per smart contract under monitoring per month.
    • E.g. if 10 Curve meta pools + 10 Gro proprietary contracts are monitored, total monthly cost will be $1000
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