GYSR is an open platform for on-chain incentives.
In our v1, the goal was to create a developer tool that empowered people building on Ethereum with an audited, secure, and battle-tested platform for token distribution and yield farming. The main use case we saw across the first 91 Geysers that were deployed was incentivizing liquidity for token pairs on various automated market makers (AMMs) like Uniswap, SushiSwap, and Balancer.
Over the past year, the vision for GYSR has evolved from a platform concentrated specifically on token distribution to offering a wider array of incentive-based tools for the Ethereum ecosystem.
As of today, our v2 has officially launched. This platform-wide update introduces major architectural, functional, and economic improvements.
We have a new modular architecture where the staking logic and reward logic are each contained within a swappable building block. This generalizes our system by allowing users to select from a variety of staking and reward modules when creating a “Pool.”
To start, there are two Pool options: Geysers (competitive yield farming) and Fountains (friendly yield farming), which, when taken together, give developers deep configurability to craft incentive programs that fit their goals. See our documentation here for more information.
The V2 also includes a new token redistribution model where $GYSR spent on Pools will now be divided as follows:
-80% goes to the Pool creator
-10% goes to a token redistribution Pool for $GYSR holders (funded monthly)
-10% goes to the GYSR treasury to fund continued growth, hire additional people, conduct business development campaigns, fund community grants and so on. More on that here.
To go along with the new contracts, we built an entirely new webapp. It has enhanced Pool discovery, new dashboards for investors and Pool creators, and statistics on funding schedules, Pool activity, and stake/reward numbers over time.
Beyond these upgrades, the V2 also includes improved $GYSR multiplier responsiveness and pricing, various contract optimizations, more token support (e.g. for transfer fee tokens), and a new subgraph as well.
It has been a long eight months since our initial launch, and after an audit by CertiK, writing a test suite of more than 1,000 tests, and tweaking our new web app over and over, we’re excited to share this updated version of our project with the wider DeFi ecosystem.
For anyone looking to get in touch, whether to join our community or to ask for help using our tooling, please reach out to us on Discord, Twitter, or Telegram and we would be happy to connect.
-the GYSR Team
