Better Yield

Explore different strategies to achieve better yield for crypto assets

Better Yield

Created At

HackMoney 2021

Project Description

This project tries to explore different strategies to help people generate more yield for their crypto assets. The first strategy I developed is a yearn strategy based on Idle for LUSD, which does not have much yield strategy. I developed a badger strategy based on Compound for WBTC by leveraging collateral to earn more yield. I also cloned the badger strategy to a Stakedao strategy.

Moreover, I added Nexus Mutual, element, pods and 88mph connectors to Instadapp, which is a helpful platform to help developers quickly create new strategy for Defi protocol. There are related PR to instadapp https://github.com/Instadapp/dsa-connectors/pull/52, https://github.com/Instadapp/dsa-connectors/pull/53, https://github.com/Instadapp/dsa-connectors/pull/54, and https://github.com/Instadapp/dsa-connectors/pull/55

How it's Made

For the LUSD yearn strategy, it uses Kyber DMM to swap LUSD to DAI, and deposit DAI into Idle vault, which can do automated rebalance to achieve optimal yield. It also uses Chainlink as price feed oracle, and uses Umbrella as a backup Oracle.

For the WBTC badger strategy, it deposit WBTC into Compound, and uses Compound to borrow more WBTC for another deposit. For the Stakedao strategy, it is basically same as the badger one, but it introduces an extra feature to use Tellor to check Compound borrow and yield rate, and it will only borrow WBTC if the net yield is positive.

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