Whitelisting New Yield Assets (Permissionless Listings for Accelerated and More Massive User-Adoption)

Currently, the idea seems to be that platforms and specific assets will be voted on for inclusion in the yield swapping platform, with V1 being introduced with a set number of pre-defined yield assets.
As a community, we are awaiting the publication of the V1 smart contracts; however, prior to this it might be worth proposing that we:

  1. Take a Uniswap-esque permissionless approach versus a Bancor/Kyber-esque permissioned approach to the listing of yield assets. I remember a time when Bancor and Kyber had much higher trade volumes than Uniswap. Uniswap won (by a looooong shot) in part because anyone could add their assets there… and because it was dead simple. From a user experience adoption perspective, I believe that when anyone creates a new yield or rewards program for a token, they should be able to independently add it to APWine, so that their users can join our platform and swap that yield. This can and will lead to MASSSIVE adoption. Otherwise, if someone else does this permissionlessly and we do not, we will lose this race imho. We have time, but competitors will likely be moving fast.
  2. From a security perspective, point #1 can be a bit difficult; however, it is achievable. To compartmentalize risk if that is not on the current Layer1 roadmap, I propose that on L2 (Optimism and zkSync) and sidechains (Matic), we have separate contracts deployed per user or transaction so that all users’ funds aren’t stored in a single point of failure contract and we don’t run into issues with APPROVE and draining etc.

Further, for more massive adoption, it might certainly be worth it to launch V1 on both L1 and L2/sidechain as that just makes sense these days.

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Hi @mjs, It is actually planned :)! The protocol was designed to be modular and it will be very easy to allow others assets from a platform already integrated. I originally created a factory so that once one platform is listed, depending on different roles (which eventually could be “anyone”), a simple function call would deploy the whole future for a new asset and make it available instantly (also with the necessary security considerations on compartmentation).

As we are still very early in bootstrapping the DeFi yield market through this future instrument, we want to move forward step by steps there, hence the whitelisting of assets to avoid liquidity fragmentation, but still proposing differents type of assets (rewards issued through the lending of differents assets, performance fees, etc.) from different protocols.

As for L1 and L2/sidechain, all I’m going to say is that you won’t be disappointed by our v1 launch :wink:

Thank you for your proposal, officially the first on our governance forum!


Thanks for shedding light here!