HomeCoinsyearn.finance (YFI)Delegated Funding DAO Vaults. Decentralized Finance requires… | by Andre Cronje |...

Delegated Funding DAO Vaults. Decentralized Finance requires… | by Andre Cronje | yearn.finance | Aug, 2020

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Andre Cronje

Decentralized Finance requires decentralized funding. There have been a lot of models and experiments around this. We have seen the ICO, IEO, and most recently IDO.

In 2017 there were a lot of attempts at DAO’s, but at the time, the ecosystem was simply not mature enough for it to succeed.

In early 2018 Vitalik proposed the concept of DAOICO. While at the time, the ecosystem was not mature enough, we believe that we are at a point, where we can begin experimenting with this model.

Inspired by fair launch capital we have developed a new kind of tooling, Delegated Funding DAO Vaults.

This is based off of the organic governance of yearn.finance, specifically around gov.yearn.finance, combined with delegated credit built with Aave, and yVaults.

The concept is simple;

Funders provide YFI into the fair launch Vault. This works as per a normal delegated vault, you receive your LP share based on your contribution.

Teams wishing to apply for funding need to setup a gitcoin grants page, and apply via gov.yearn.finance, if forum signalling is successful, this will move onto an off-chain vote on vote.yearn.finance. If approved governance can set a weekly/monthly/yearly credit limit that the applicant can draw from via yborrow.finance. This is achieved with credit delegation. The applicant can then repay on their own terms, or should they so wish, repay with tokens, or any other collateral accepted.

Any profits are shared between vault LPs

Credit limits can be increased or decreased based on the performance of the applicant, if they are performing well, limits can be increased to further scale up their operational capacity.

Do not provide funds to the vault yet, an interface will be provided.

Fair launch vault; 0x3A2d0E5773dd6A345Eda543b14C6Ca6B51c6CC0A



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