Description

Degen Heaven allows advanced DeFi users to create vaults capable of holding various diffrent tokens and positions in other DeFi protocols. DH aims to make it possible to execute as complex strategies as possible. Traditional vaults are often limited by the heavy computations needed to accurately price share token of such a vault. DH solves that problem by moving valuation calculations off-chain and integrating with UMA optimistic oracle protocol which is resposible for feeding vaults with necessary data. Another important piece of the protocol is an IPFS based platform, allowing strategists to express their intents and explaining their moves via simple messaging system. In such a system, a strategist proved to manage funds with great performance and transparency, would attract more depositors. Strategist's dashboard allows to easily move funds between most popular DeFi protocols and might optionally allow multisig-style custom operations.

πŸ˜‡ 😈 Degen Heaven showcase

How it's made

Core smart contract of the protocol is an ERC-4626 vault that allows people to deposit and withdraw funds denominated in the base vault asset. In order to provide accurate portfolio valuation, which might consist of many different, sometimes cumbersome to price on-chain assets, user first needs to request a portfolio valuation for his operation from the UMA oracle. This additional step allows to skip heavy calculations often caused by the necessity to iterate through an array of different assets. After funds are deposited, vault creator is then allowed to move funds across different DeFi protocols via proxy-like open interface. The primary proof-of-concept, one-click DeFi integration was Aave aDAI pool. Vault creation happens via provided factory. Factory is observed by The Graph subgraph that allows easy tracking of all created vaults. Front end application serving as an interface was developed with use of React framework and integrates a number of Web3 wallets (Coinbase Wallet, WalletConnect, Web3Auth, Metamask). A board allowing strategies posting messages that signal strategists intents or explanations was developed with use of IPFS which helps information in a secure way. We implemented multichain support in our application - it can simultaneously read from all chains it's deployed to (though still only write to the one network, the wallet is connected to). Project was deployed to Optimism Kovan and Polygon Mainnet networks.