I would like to raise my hand to take on the project lead for this! I am on the current product team at centralized ShapeShift, so I think I would be a good project lead since I have worked with engineers on our current web app and mobile app and have a good idea of what it will take to complete this. Also, I really want to see the open source version of ShapeShift be an even better version of what ShapeShift is currently, which is included in this proposal. Below is the proposal, and I would love to hear any feedback.
Summary
This proposal would accomplish the following: Add Yearn vault support for native wallet and KeepKey on both mobile and web. Once Yearn vaults have been added to the current product, it would then be added to the open sourced version of ShapeShift.
Abstract
As a ShapeShift user, I want to be able to use Yearn vaults so that I can earn passive income on various assets. It would be great for the DAO to contribute FOX rewards to ShapeShift users depositing into Yearn vaults to make it the best way to use Yearn. (This would require further governance vote on whether the community supports this idea and how much FOX and for how long the incentives would last). In addition, the ShapeShift DAO will be able to receive revenue by earning up to 50% of the profits from ShapeShifts contributed TVL from Yearn through the Yearn partnership program.
There would need to be a project team formed of a 1 project manager (myself, Lilah), 1-2 UI/UX designers, 4-5 engineers to achieve this goal. After the project spec document is complete we can reassess the resource requirements.
Specification
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To achieve this proposal we will have three milestones to meet:
A delivery of the UX/UI designs to the community for a period of feedback for the Yearn vaults integration into ShapeShift Mobile and Web (current and new). This should include functionality and UX for Yearn deposits, earnings, removals, and errors. This milestone will be complete when the product stream signs off on the UX/UI.
- Delivery of Yearn in the current mobile app. This should include engineering delivery of Yearn vault deposits, earnings, and removals in production with Native wallet and tested by Project Manager. This milestone will be complete when the engineering signs off on code and product stream signs off on the functionality.
- Delivery of Yearn in the current Platform. This should include engineering delivery of Yearn vault deposits, earnings, and removals in production with Native and KeepKey wallets and tested by Project Manager. This milestone will be complete when the engineering signs off on code and product stream signs off on the functionality.
- Delivery of Yearn in the open sourced version of the web app. This should include engineering delivery of Yearn vault deposits, earnings, and removals in production with supported wallets and tested by Project Manager. This milestone will be complete when the engineering signs off on code and product stream signs off on the functionality.
Each of these 4 milestones, once accomplished, would receive 1/4 of the total bounty: $120,000 in FOX. The project manager will be allocated 10%, UI/ UX allocated 20% and engineering allocated 70% of the bounty.
Motivation/Benefits:
Adding Yearn as an option for users to earn yield gives them more opportunity to earn additional income on assets that are already in their wallet. Yearn gives users the option to earn yield on different assets than FOX/ETH, so it diversifies our users’ options. Additionally, through Yearn’s partner program, the ShapeShift DAO would earn up to 50% of the profits from ShapeShifts contributed TVL.
If there were to be an additional proposal passed through governance where users could earn FOX when depositing into Yearn vaults, users could be rewarded with FOX making ShapeShift the best option for users to use Yearn.
Drawbacks
In order to generate revenue for the DAO treasury as quickly as possible, we would need to implement this in the current platform and mobile app. Once the open source version is available, we would need to add it to that version as well. While this does seem like several different places to add Yearn vaults, I think it is necessary so that the treasury can start earning revenue as soon as possible.