Ubiquity Monthly Newsletter

Published in

Ubiquity DAO

4 min readDec 5, 2022

Spooky Halloween. How’s it going? We have many exciting updates and programs ongoing. Our devs are busy at work and constantly working in the background. Let’s dive right into it!

Bounty Board

Want to help improve the Ubiquity Protocol? You can test your skills and earn some cold hard cash in the process. We have been scouting the web3 ecosystem for talented developers and coders to join us in bringing stability to the metaverse.
We also have plans to implement a finder’s fee where people can earn a share of the bounty for finding capable devs who complete bounties. More to come!

As always, we hold regular Technical and Product brainstorming sessions that help in team synchronization and knowledge sharing in the Dev Pool.

If you are a developer that is interested in participating in the DevPool, feel free to take a look at our Bounty Board and Telegram chat to talk further.

2. Yields yields and more yields

Lets us recap the progress of our proxy yield aggregator.

With the upcoming bonding launch, one core product that we are excited to introduce is the Proxy Yield Aggregator.

The User Benefits:

Financial Incentive — The Yield Aggregator offers boosted yield vs directly farming the underlying protocols.
Simple UX–Easy to use and keep track of your positions.
Various Yield Farming Strategies where you can choose your risk tolerance.

3. Game theory

Since the Proxy Yield Aggregator (PYA) will be deeply tied to the Ubiquity Credits, let’s look at how Ubiquity Credits function when someone uses the PYA.

When someone enters a PYA vault, they receive tokens as yield and would sell them immediately.

Now you need to pay some extra costs due to protocol fees and gas, so you will have to wait more time and have to assess exit strategies, liquidity, price impact, and more.

Now, imagine this

*When 1 uAD < $1. you are receiving $uAD at a discount.

If 1 uAD > $1, then it doesn’t make sense to pay the extra $1 because it will be better to just sell uAD in the open market.

That’s where uCR comes in. uCR tokens are perpetual debt tokens issued by the Ubiquity protocol that can be redeemed for 1 uAD when the stablecoin trades above $1.

Imagine you have 1 $uCR that are redeemable for 1 uAD, worth $1

With a X% discount, this means that

1 $uCR + X USDC = 1 $uAD

The yield generated is compounded and further augments the uAD collateral reserve.

Users receive boosted underlying yield in the form of uCR tokens.

Some of these custom strategies may have a cap limit or only be available to UbiquiStick holders since good yield strategies quickly get diluted with size.

Summary

Ubiquity DAO has continued to build and come up with innovative ideas to best position the project to be a powerhouse in the crypto space. We will have more exciting news for you all next week so stay tuned and as always, thanks for reading! Wishing you all a spooky halloween.

In the meantime, these are news that we have been keeping up with as well.

VCs calling it quits…