We are excited to announce the start of the bVault strategist competition! This will bring a new way for our community members to contribute to Boosted Finance and the long-term success of the project as we begin the next major wave of developments.
All strategy submissions will be eligible for addition on Boosted.Finance, with the top two winning prizes from a pool $3000 USDC and the implemented strategies to earn a performance fee from the rewards of the vault!
Below we also share a preliminary roadmap leading up to the end of January covering the implementation of bVaults from the strategist competition and new farming/distribution of ORBT, a token designed to accrue a % value of all bVault rewards and open the gateway to potential future products such as stablecoin, collateralized lending, and insurance.
Submit your strategies here:
bVaults have landed! DeFi has surpassed all-time high to over $13.48B TVL — how much value can we create and lock up with vaults that empower the community to amplify their yields using the booster mechanism?
We’d like to see you build the next bVaults that leverage other DeFi protocols in the space to generate yield for the greater community. Be creative. Be innovative. You can create a simple yet sustainable vault or highly complex strategies that utilize various protocols.
Competition Start: November 24th, 2:00PM UTC
Submission Deadline: December 18th, 12:00AM UTC
Winner Announcement Date: December 25th 2020, 12:00AM UTC
Have a strategy ready for submission? Submit it here:
1st: $1500 + ($500 for coding implementation via pull request)
2nd: $750 + ($250 for coding implementation via pull request)
The top two best strategies and honourable mentions will have their strategy implemented by the Boosted Finance team while also earning a performance fee proportional to the success and TVL of the vault.
Submissions are not required to have code implementation attached — ideas and schematics are perfectly fine! However, they must:
- Provide a strategy to generate a positive yield
- Be as original as possible
- Provide an estimated APY calculation, back-testing recommended
- Have a working diagram or proof-of-concept
Submissions will be reviewed on a rolling basis by the team. To have the strongest chances of winning, we encourage participants to include APY estimations (backtested), be original and attach a diagram, video or slide deck visualizing your strategy or assist in describing your project.
The prize will be awarded to the submission that produces the:
- Best overall vault strategy (sustainable, minimal smart contract risk, expected yield)
- Most creative strategy, yield generating insurance product
- Strongest differentiation from existing strategies or vaults
All submissions are fair game. Simple or complex, all factors will be considered. Please take into account smart contract risks if your strategy is reliant on various protocols, unaudited or non-battle-tested smart contracts.
On November 23rd, BFIP14 passed to fund ongoing development efforts for bVaults and Boosted Finance until January. This includes implementing new bVault strategies, a revamp of UI/UX and growth/marketing developments. With this in mind, we wanted to share with our community the roadmap in the lead up to the end of January.
- Strategist Competition: Nov 24 — Dec 18
- ORBT Research & Development: Nov 24 — Dec 25
- Strategy Implementation & Testing: Dec 25 — Jan 8
- Launch Revamped UI/UX: Jan 8
- Secondary Audit For Strategies & ORBT Contracts: Dec 25 — Jan 15
- ORBT Audited Smart Contract Deployment: Jan 15 — Jan 31
Please note that these are preliminary timelines as the roadmap will be subject to change based on key variables including amount of strategy submissions, implementation and testing resources required as well as our professional auditor’s pipeline and timeline for mediations.
We will be prioritizing our work with auditors to prevent strategies from being exploited via flash loans or sandwich attacks which have been prevalent in recent months across yield aggregators.
With momentum as priority, new bVaults can be launched early similarly to our genesis vault with a deposit cap to protect user funds. Deposits and usage are NOT encouraged, it will simply be for our team to test in a production environment.
Find out more about ORBT here: