[PIP-1] Define new strategies to the underlying tokens of nDeFi

After the Cream protocol got exploited on Main Net, the galaxies retrieved all funds lended on Cream to generate yields.

Even if funds were not exploited on Cream vaults on Polygon, we think that it’s not a good idea to use Cream again as a strategy for nDeFi.

The following proposal is to assign new strategies to the underlying tokens of nDeFi among the two other strategies currently supported, aka. Aave and Kashi (Sushiswap).

ETH - AAVE
LINK - KASHI
SNX - NONE
AAVE - AAVE
COMP - NONE
MKR - NONE
UMA - NONE
BAO - NONE
MATIC - AAVE
ALCX - NONE
UNI - NONE
SUSHI - KASHI
CRV - NONE
BAL - NONE
YFI - NONE
Convex - NONE
Alpha - NONE

A lot of those tokens don’t have possible lending markets for them, but the goal is to optimize the strategies currently available while waiting for new opportunities in the future.

5 Likes

Thanks for driving it through. I was also thinking the other day why Polly is not part of the basket. It’s DeFi and our own product.

Indeed. But it could be proposed in another nest. Maybe a Polygon-only project nest ?

this is really unfortunate, the cream exploit. so, are there no other options for using other protocols than aave and kashi? the lending strategies seem sparse tbh, but i don’t fully know the polygon landscape yet. couldn’t we also lend/stake some of these tokens with curve and sushi, or does that not work for polygon?

edit: i suppose you addressed my question in the final sentence of your original post

There are a bunch of other options (Even on Polygon). Unfortunately they mainly cover the same assets. (Most of them stables).
A lot of them also do not return a token in return for staking, which is something our nests require.
I would love to put Sushi into xSushi…But they don’t have Sushi bar on polygon atm.

AAVE and compound are the gold standard but lower interest rates

Another option I didn’t see here is to use the Fuse implementation on Polygon from Rari Capital. I don’t think permissionless pool creation is live but KlimaDAO managed its own pool, it may be worth investigating.