Hey Everyone - time for an update on yAxis and MetaVault after the holiday period. Let's talk about what we've been up to across all fronts:
@transferAndCall - lead solidity, @vinrock - lead design, and an agency frontend dev.
Development is happening fast and there's a lot planned for future iterations.
The abstract strategy provides a common framework for new strategies to be quickly written and safely deployed via a public bounty; This competition will be announced shortly.
The refactor allows us to deploy multiple versions of MetaVault around various asset types. E.g BTC. The majority of crypto assets are held in BTC earning no interest, and we want to help bring them into DeFi.
Our first audit was done by Quantstamp - a leading security firm. This was complete before the holidays - but we are extending it to cover the new controller used in v2 to ensure that all live code has been through an external auditing process.
A second audit has also been contracted with Haechi, and is due to be finished in February. It's imporant to have mutliple opinions as we continuously develop and expand the strategy list.
@Mr.Mister, @mNZ, @bobbyEK, @vinrock.
We're pressing on with many different types of content. The aim is to build a backlog of content to support users, as well as attract TVL to MetaVault and YAX holders.
There is plenty to do here, and we welcome anyone willing & able to contribute or support these community efforts. The more people collaborating, the quicker it can all be produced. We are aiming to have a piece of content released every day surrounding launch.
We can help increase visibility in the DeFi landscape and accelerate adoption through listings, integrations and partnerships.
This is our current wish list. Some are in progress, some not yet. Contact us to add your suggestions! Will be quicker to progress here once v2 is up and running with audits out. Many are hesitant to integrate until a formal audit is complete, which is coming shortly.
The treasury has been moved under the new multi-sig. After YIP-05 funds are released, that will leave 47k YAX in treasury.
YIP-05 funds cover the v2 controller and strategy work, the team incentives and partly content.
- Development work for e.g BTC vaults and Governance/Insurance contracts.
- Marketing efforts/content (e.g explainer videos and youtube tutorials).
- Further branch audits for iterations. E.g BTC vault/strategies.
We have more than enough for planned iterations. We will be applying a base of 30k YAX to the treasury, where below these available funds, a portion of the performance fees from MetaVault divert to top it up.
Above 30k YAX, the performance fees revert to previous allocations. This will ensure a healthy amount of funds is available whilst protecting APY of the MetaVault.
It's our primary goal to create a self-sufficient ecosystem to support yAxis and keep everything balanced.
@delta_y originally started and has driven yAxis along with a couple of external anon devs. They’ve done a great job of creating and bootstrapping the project this far. Now it’s time to improve the team structure and prepare for the public product phase and beyond.
To that end, Delta has decided to reduce his role going forward to an advisory one where he can continue to support the current team.
@bobbyEK is taking on the coordination/management of the product rollout.
Handover of all components and assets has been completed to the current core team members.
We’ve successfully moved from a group of disparate contractors hiding behind Delta, to a unified team, all available and visible on Discord.
The current 5-man team puts yAxis in a stronger position than before. We’re looking to bring onboard one more team member to manage & maintain the frontend, after the upcoming UI is released.
Core team: @bobbyEK, @transferAndCall, @draukan, @Vinrock, @Mr.G.
Advisors: @delta_y, @ashitaka
Moderators: @mNz, @larrythelinklet, @Dr.Disben, @Originality.
Twitter + Outreach: @YaxBull
Everything is ticking along nicely, we're happy where we are with the lead up to v2 and v3 of the MetaVault.
Going forward we'll communicate through 'The Weekly Yax', which is a community-written update on activities and progress.
Thanks everyone! Most activity is on Discord, if you haven't joined yet, here's the link: Discord.
The yAxis and MetaVault team