There are some common patterns in DeFi we see across many different projects. Such as:
- Vote Escrow
- Token based liquidity mining / farming rewards
Wouldn’t it be neat if DeFi protocols could save the bandwidth and centralize their efforts in managing UIs and contract code for these universal requirements?
Stop duplicating work! Start launching and scaling quicker! Build the future of finance, better, faster and together.
SharedTools seeks to provide a common base layer to simplify launching contracts and linked user interfaces for common DeFi patterns.
Locking token into vote-escrow to signify long term planning has quickly become a norm across DeFi and I explored this in a previous article: https://medium.com/@chimera_defi/vote-escrow-be73bb72e658
In terms of vote escrow we have already launched a vote escrow factory which has been used to launch the veSGT for SharedStake and this can further be used by other projects integrating vote escrow schemes.
The veToken generated builds on top of Iron.finance’s ICE token and supports ERC20-permit for gas-less approvals, inherits OpenZeppelins ERC20Votes for all your vote snapshot, checkpoint and delegation needs. And is written in Solidity, while adhering to the vyper vote-escrow contract API created by curve.finance where needed. It also supports early unlocks, with a penalty.
You can find the factory here: https://etherscan.io/address/0xeE5bd4b9C875BE3958b1255D181B8B3E978903b9
This is our first offering and the UI is now live at sharedtools.org and supports Sharedstake’s veSGT!
If your project is interested in onboarding reach out to us! Send an email to email@example.com
In terms of rewards we want to provide a common Masterchef template and a factory which any protocols can use to launch their own generic yield farming program.
This simplifies front end integration with index UIs like vfat.tools.
This also benefits the users and the protocols since the base contract code can be audited. Making it safer for users and cheaper for the protocols. Reducing repetitive audits of the same code with some variables renamed.
In fact this isn’t even an original idea, EIP4000 already hints to the need for something like this: https://ethereum-magicians.org/t/erc-4000-staking-reward-pool-standard-request-for-comments/6004
We will also be packaging up any advancements and extensions we create to the MasterChef pattern for our users to enjoy and use.
Uniswap’s merkle distributor has become a mainstay in airdrops. So similarly we would launch a factory for airdrops.
We will support any airdrops Sharedstake decides to do in the future, and have the following upgrades in the pipeline:
- Airdrop guards based on the concept of Option LM that stops token claims if the TWAP token price drops below a preset level. Limiting the dump and run and price drops normally seen from airdrops.
- Options based token purchases where the user can use USDC/ETH to redeem part of the airdrop, buying the token at a discount and concurrently raising money for the treasury
Often times audits are time and capital intensive. Contracts launched this way protect users and reduce upfront capital expenditure. Since a base audited factory contract is used to launch the contracts.
We are hoping this will be a public goods offering for DeFi that can help many projects.
And may look into doing retroactive funding for it to scale later down the line.
Watch this video to understand what that means:
ETHOnline Hackathon Kick-off and Keynote: Retroactive Public Goods Funding Featuring Vitalik Buterin & Karl Floersch
See Architecture here