Dear Waves DAO,
This project will be run solo initially. My name is Ivan Yu and I am in crypto since mid 2017, part of Waves community since December 2017. Profitable high yield DeFi investor even during these challenging times in crypto and especially for projects and their tokens on the Waves blockchain.
- I manage my DeFi investments on a daily basis, updated on all the projects where I have a stake in.
- Proficient in a multitude of aspects of crypto trading and DeFi investing: spot and futures trading, grid bots, AMMs, leveraged AMMs, lending protocols and staking.
- For investing and trading skilled in using different types of strategies: diversification, risk management, long/short/neutral, technical and fundamental analysis, blockchain analysis, rate arbitrage.
- Project owner of BURN-XTN, running since April 2023.
- Self taught using RIDE, Waves blockchain programming language, writing smart contracts to interact with other dApps and to perform blockchain actions.
Description of the Proposal:
WHIRLPOOL provides a simple way for users to benefit from yield farming. By doing the heavy lifting of yield farming and investing, WHIRLPOOL returns high DeFi yields available on Waves blockchain. By supplying liquidity to WHIRLPOOL AMM, the user earns passive income.
Profitable yield farming and trading requires reading white papers, news and updates. And constant monitoring of protocols, yields and investing opportunities.
- Farming as a service: consistent high yield returns from DeFi. Passive income.
- Strong tokenomics: 0 starting supply, tokens issued through smart contract. Strong price support by constantly increasing yields and buyback mechanism.
- Utilizes DeFi yield farming by: lending & borrowing, AMM and staking.
Pre-launch: started today, 14th of September 2023.
- WHIRLPOOL tokens can be issued for the base price of 1 WAVES during the pre-launch period.
Launch: start of October.
- WHIRLPOOL tokens can be issued for the base price of 1 WAVES + surplus treasury / WHIRLPOOL total supply.
- WHIRLPOOL AMM will be created with the following assets and pool weights: 90% WHIRLPOOL, 10% WAVES. Starting price: 1 WAVES.
- Start adding to the surplus treasury, which increases the issue price.
- Start distributing yield farming rewards through boosting pool APY.
I am seeking to increase total assets under management, raising funds with 0.1 WAVES per block.
No funds are needed for development or salary, project will start with a 0 base cost.
Waves DAO can stop funding anytime, when the project does not meet expectations or has a better investment alternative.
Profit for the DAO:
Waves DAO will receive LP token of Puzzle megapool: WHIRLPOOL AMM, which consists of 90% WHIRLPOOL and 10% WAVES.
LP providers of WHIRLPOOL AMM receive 80% of yield farming rewards of the surplus treasury.
LP token can be send every month or KPI period, whatever is more feasible. (LP token needs to be staked to receive rewards, which requires a tx. Claiming rewards requires a tx).
WHIRLPOOL will make profit right from the start. Biggest risk is in providing liquidity in lending.
KPIs for Measuring Profit:
(LP token value in WAVES + rewards in WAVES) / total amount of WAVES claimed
“timestamp”: ‘5 days from proposal time’,