2022 Year-End Review — Yield Protocol
2022 has been an eventful year for Yield’s core team. We recap some of the major milestones below.
Major Milestones
When 2022 began Yield Protocol v2 was brand new. We’ve worked hard this year to expand it, improving security and decentralization, and improving the usefulness and user experience of the protocol. Here are some of the highlights:
Arbitrum deployment — Yield is one of the first lending/borrowing markets to be deployed on Arbitrum. Arbitrum drastically reduces gas fees for all participants and allows Yield to have a lower borrowing limit. We worked with ecosystem partners to incentivize usage through Odyssey and Dogyssey campaigns respectively.
YieldSpaceTV — our next generation AMM and a big upgrade to YieldSpace was successfully deployed. TV stands for “tokenized vaults” and solves the principal problem of capital remaining stagnant before trades occur. YieldSpaceTV improves upon capital efficiency for liquidity providers (“LPs”) by allowing the base asset to be used in a money market protocol (Aave, Compound, Euler) to earn yield, and to be withdrawn on demand to facilitate a trade. YieldSpaceTV provided a big upgrade to LP returns.
Over 100 Governance Proposals Executed — the entire team has been busy shipping protocol upgrades. We’re not at a stage yet where proposals are voted on by the community. Instead, we solicit feedback and choose the best proposals to execute based on the direction we want the protocol to evolve. We reached the 100 proposals mark and never looked back.
Some notable collaterals added this year are Notional fCash and Opyn’s Crab Strategy V2. We’re always on the lookout for interesting and novel collateral types, so if you see something interesting, get it on our radar.
Liquidity Mining — we tested the waters with a small and intimate liquidity mining campaign in December. We provided 10 ETH total to miners in exchange for ETH liquidity and were successful in attracting meaningful volume.
Contango — our first protocol integration. We’ve been working with Contango on a forward market for DeFi. They are deeply integrated with Yield’s liquidity pools, where the trades occur. They just entered public beta on Arbitrum so be sure to check them out.
Looking Ahead
Progressive Decentralization — as the protocol matures the core team will be looking to involve more members of the community in its decision making process. The goal will always be to achieve product-market fit first and then decentralize. If you want to be involved, join our Discord server.
More Integrations — we’re always looking for more integrations that benefit our users. Whether it is a collateral type or something more involved like a Frax AMO, we’ll add it if the community shows demand for it. A great way to participate in the governance process is to bring these integration ideas to the table via Discord.
YieldLever — we’re looking to drastically improve the experience of traders taking out complex positions through Yield Protocol. We have an all-new interface where it is easy for users to select long/short assets to trade against. Look for more information at the beginning of the new year.
Happy Holidays from the Yield Protocol team. Wish everyone a happy New Year.
