Fetch the highest yields fully decentralized
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. Amadeo Brands
. Shawn
. William
See Yield Dog in action!
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Yield Dog operates as a "pool of pools" LP aggregator, akin to 1inch but with a decentralized edge. Starting with LSDs for our hackathon prototype, we target a complete MVP within 3-4 months. Our design employs a unique trailing AMM curve to manage pools and encourage arbitrage. Future work will refine the UI and include audits, alongside developing more complex pools like one shifting between 3Pool and sDAI.
We want to hold multiple LSD tokens.
The naive way to do that would be using a multi-asset vault (ERC4626). Issues with vault are many, lots of on-chain complexity (many smart contracts) and attack vectors. Namely when swapping between LSD assets (MEV sandwich attacks, oracles price feed...).
Using a Pool instead of a vault removes to need for Oracle and external asset swapping. Also, remove smart contract complexity as both pricing and asset allocation are decided by the AMM formula. The more complex arbitrage calculation is pushed off-chain.
Currently there exist 2 pools of LSDs on ETH mainnet (one on Curve and one on Balancer). We will build a "Master Pool" that will hold those LSD pool tokens, a pool of pools.
The MasterPool is a smart contract that functions as a liquidity pool. Here's a detailed breakdown:
AddLiquidity(): Enables users to add assets to the liquidity pool, which can then be used for trading or earning rewards. This process usually involves depositing a pair of tokens to maintain the balance in the pool.
RemoveLiquidity(): This lets users remove their assets from the liquidity pool, often in the form of tokens and their respective trading pairs. This action might be subject to fees or penalties, depending on the pool's design.
Swap: Allows users to trade tokens by leveraging the liquidity provided in the pool. For instance, a user can swap Token A for Token B, subject to available liquidity and potential price slippage.
Foundry test files here
The Gateway is a smart contract that offers a suite of financial functionalities to users. Here's a breakdown:
Deposit(): Enables users to deposit ETH into the contract in return for the master pool LP tokens
Redeem(): Allows users to withdraw their ETH from the contract.
TotalAssets(): Provides the total assets under management (AUM) of the contract, denominated in Wrapped Ether (weth).
sharesToAssets(): Computes the value of a user's assets within the contract, priced in Wrapped Ether (weth).
sharesToUnderlyingAssets(): Gives the value of a user's assets but priced in various Ethereum-based assets such as wsteth, reth, and sfrxeth. This function helps users understand their holdings' composition and value in different underlying assets.
Foundry test files here
Similar concept, pool of pools on top of sDAI (yield-bearing usd stable token) and curve 3pool
MasterPool contract (code Verified)
Copy .env.example to .env and modify to set value
cp .env.example .envinstall forge dependencies
forge installRun a local node on a forked eth mainnet state
pnpm run anvil-mainnetIn another terminal, run the deploy script
pnpm run deploy:localThe addresses for the masterpool and gateway contracts will be displayed
install node dependencies
pnpm installRun dev server
npm run dev
# or
yarn dev
# or
pnpm devOpen http://localhost:3000 with your browser to see the result.
