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Update on 13.03.2021

Some little overview on what was updated or added after I wrote the Blog:

  • Cyclic period (for example 24 hours) where all balances on yearn will be adjusted based on the rise/fall of the underlying collateral prices (DEUS rises or drops)
  • Cyclic “clearing event” of all pending deposits

Foreword

Since the beginning of DEUS, I wanted to explore different ways of leveraging the underlying Ethereum in our treasury to farm yield in other protocols as an additional reward for those supporting our ecosystem.

  • Using the ETH without explicit consent from the DEUS holders, but instead, deciding through governance(voting).

Leveraging Idle Capital

The new team is made up of an experienced and highly dedicated group of individuals who have worked on some of the top 100 projects in the DeFi space.

Modifying our current staking contracts

I have thought long and hard about modifying our staking contracts while taking into consideration user fairness.

  • Stake & Yield (which is the deposit() + the yield() function)
  • Only Yield (for users that staked before and want to add yield() later)

General Overview of how yield() should work

We need to create a smart contract that permits users to withdraw Ethereum from that contract. Alternatively, we will create another contract as an Escrow that does not have direct control over all Ethereum.

Here’s an example:

Calculating the Price of DEUS

We have 10,000 DEUS and you can fetch the current price of DEUS/ETH in this contract:

Calculating the price of DEA

We should also create a contract with the same function but with DEA as our second token. DEUS backs DEA inside of Uniswap & DEUS Swap.

Calculating the price of BPT Token

Here is a function to check the price of the BPT tokens:

Timeline and Technical Requirements

1. Approximately 72–96 hours — Implementing yield through the Yearn protocol and creating the option for users to choose between stake/yield/stake & yield. The exact time depends on how the new staking contract will work.

  • Where to farm:
  • Only DEUS Protocol Fees.
  • Only Yearn Finance Yielding.
  • Or both Deus & Yearn with the same capital!

DAO member of DEUS Finance @lafayettetabor in telegram.